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Is the UK heading towards bankruptcy / a depression ?

Will it be worse than the last Great Depression in the 1930s?

Mortgage arrears and repossessions will rise modestly next year, the Council of Mortgage Lenders (CML) predicts.
"With funding in short supply, the availability of mortgages for first-time buyers will remain limited," it added
http://www.bbc.co.uk/news/business-11992804

The UK Consumer Prices Index (CPI) annual inflation rate rose to 3.3% in November, up from 3.2% in October.
It followed record price rises for the October to November period in food, clothing and furniture.
Retail Prices Index (RPI) inflation - which includes mortgage interest payments - rose to 4.7% from 4.5%.
One Bank of England interest rate policymaker said he expected CPI to hit 4% next year due to the VAT increase, and that interest rates needed to rise
http://www.bbc.co.uk/news/business-11989353

I believe that inflation is a lot higher than 3.3%. The government could create a new index and leave out the essentials and it would be 1%. They could go around claiming it is good.

Reply 1

Law123mus

Yeah it doesn't look good, but we are not in the worst postion. I think we'll get by if only by the skin of our teeth.

Reply 2

yoyo462001

Need to start raining in those inflationary expectations.

Reply 3

rajandkwameali

yep, hyperinflation worse than the Weimar Republic is coming. Then our dictator will claim to save us, we'll invade France, and an alliance of countries will defeat us in the subsequent war.

Reply 4

member520746

Def. on the road to depression, I know that I've been feeling a bit down for a while now and I wouldn't be surprised if the rest of the UK feels the same.

Reply 5

SuperSam_Fantastiche

Original post by JCC-MGS

Def. on the road to depression, I know that I've been feeling a bit down for a while now and I wouldn't be surprised if the rest of the UK feels the same.