BOOM OR BUST? We've had the boom, now it's a matter of the bust

PUBLISHED: 11:52 14 July 2008 | UPDATED: 08:32 02 June 2010

IN 1997, New Labour famously announced that its administration would eliminate boom and bust. Well we ve had the boom. Now we are experiencing the bust. We have rising inflation at the same time as falling residential property prices. To understand what t

IN 1997, New Labour famously announced that its administration would eliminate boom and bust. Well we've had the boom. Now we are experiencing the bust.

We have rising inflation at the same time as falling residential property prices.

To understand what the future holds for Britain one just has to look at the USA. The economy of the United States is about two years ahead of Britain's.

For example, across California there is the growth of 'tent cities' composed of homeless people, who have had their homes repossessed by the banks.

I can see the same thing happening in Fenland in the coming period.

JOHN SMITHEE

Kingsley Avenue

Wisbech

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