Britain may be experiencing the worst economic decline in peaceful times since 1931, argues a report to be released by Ernst & Young Item club next week which was seen by The Times today.
Unemployment in Britian is expected to hit the 3.25m mark, the same report says.
Meanwhile, the British government prepares to bail out its banks with a further £100 billion, The Times says.
The past hour in news was not, however, all doom and gloom.
Barclays is in fact set to report a £6 billion pre-tax profit next month, The Telegraph says. The bank had announced 2,100 layoffs earlier this week.
Matthew Mizzi's Blog 
Actually I think they have lost control. A debt based monetary system requires an ever ending input of new debt slaves and there’s a finite number of debt slaves. They have reached that limit and the pyramid scheme can’t proceed.
I would appreciate your thoughts on my blog dealing with this pyramid scheme:
http://moneycreation.wordpress.com/2009/01/16/3/
I just stopped by your blog and thought I would say hello. I like your site design. Looking forward to reading more down the road.