7.17 am Monday: IMF warns West of double-dip recession unless QE/int rate measures kept up. (Reuters)
It’s when you read stuff like this that Britain’s rock-and-hard-place reality comes into focus.
We don’t have any money left for further QE. And the banks need some interest rates to attract savers/lend money profitably to restore their balance sheets.
The public are still saving like mad. And business demand for credit is still weak.

Several regions of the globe will get double dip: the Eurozone will get a bigger second dip than the first one. Australia will probably avoid it…thanks to real (as opposed to New Labour) prudence.

Britain will flatline. There’s nothing else for it to do.