Dying pains of a single industry nation!

Manufacturing output in the UK was down 2.9 per cent in November, almost twice the worst estimate of 1.5 per cent, read here. Imagine the results in February and March given that Honda in Swindon, where the jinx figure of the Prime Slime was to be seen today, have announced zero car production for those two months - and that on top of the Nissan redundancies announced yesterday. What the government and neither of the two opposition parties have yet to grasp in their efforts to cure the economic sickness is that Britain is now a Company town whose Company is broke! The industry involved was of course the "Housing Market" and everything connected with it. Admittedly there was some side activity in the City of London where Computer Screens fulfilled the role of one arm bandits for short term speculators but in the main the only real activity in the country revolved around the ever inflating property market. Service industries flourished on its back. Over one year into the credit crunch, amazed that no steps were being taken to address the ever more serious developing house price crisis I posted a suggested solution, read here. Nothing, needless to say, has been done since EVEN THOUGH as home prices reach some 20 per cent below their peak the problem of walkaways is soon likely to become intense and pass beyond the point of no return. There are no lessons or precedents in history for what has happened to the UK under the stewardship of Gordon Brown, the mass sell-off of productive industry to EU countries leaves the nation at the mercy of imports grossly over-priced due to the reckless slashing of the pound's value. I urge one of the political parties to NOW do something to push a policy to keep ordinary families in their own houses!