On the economic front, the recession keeps hanging on. Bankruptcies soared September over August. The export oriented manufacturing sector failures were up 71%, retail business insolvencies up 69%, the high tech sector failures up 119% and personal bankruptcies spiked at 15 465, up 45% over last year. It also seems the Dubai building bubble has burst as they have requested suspensions on loan payments in the $70 billion range that will send shivers around the financial market. How stupid is this system that will result in many thousands losing their livelihood and being idled when there is so much to be done, but then, no one ever accused capitalism of having common sense! John Ayers
The Glasgow & Edinburgh Branches Blog. Towards a better understanding of the world, in order to change it.
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