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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (33542)7/12/2005 1:56:13 PM
From: regli  Read Replies (2) of 116555
 
In my view, Britain has lived off the credit bubble similar to the U.S. In addition they have had a large windfall from oil and gas since the 1980s. These factors have significantly contributed to its recent prosperity.

When things are good, most people think their model is perfect. However, with the production decline in the North Sea and a manufacturing industry in tatters, the U.K. model will be put to the test in the next few years.

Brown's views often reflect some of the illusions of grandeur from the glorious past of the British empire.
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