"Then it is dark; a night where kings in golden suits ride elephants over the mountains." - John Cheever
There's definitely a sense of (economic) foreboding isn't there. Over and above normal, everyday foreboding, of course.
Part of me (the bitter old git part) wants there to be a recession, if only to teach the thrusting, ambitious, money and consumption-obsessed younger generation a lesson. But I suppose it will be the poorest households that lose out the most, which isn't good. I think the Ecologist might have a point, though. And Krugman's always worth a read, although he's doubly unpopular in the US now because he was anti-Iraq and is now pro-Hillary.
Yes, I'd like to think a recession may be good for the country's character. However, given the state of arrested development and general shallowness of Thatcher's generation, it's more likely to engender a sense of petulance and virulent anti-government bitterness as their "right" to do and buy whatever they want starts to be constrained.
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