World Economic Crisis

Italy & Spain are having to pay 6% on the international bond market. Berlosconi (sic?) blames speculators, and I'm not sure I don't agree with him, despite the structural problems in those two countries.

The US have finaly got agreement over upping their debt cap. But still no tax increases for super rich individuals or corporations which would be needed for a balance debt reduction strategy.

The IMF have sugested that the UK may need a 'Plan B' if growth does not pick up, as I doubt it will.

Listen to Kynes v Hayek on BBC Radio 4 at 8pm tonight to hear the opposing economic arguments.

Posted by e-mail from my mobile.