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News Link • Economy - International

Gigantic Drop In UK Disposable Income -- The Biggest Since 1921

This is a theme we've been touching on a lot lately. The UK continues to look like a good model for what the US economy faces, as it begins to take austerity seriously. Recently, there has been a precipitous drop in UK consumer confidence, and the knock-on effects to certain retailers has been quite notable. Now a new study shows a gigantic drop in UK disposable income -- the biggest since 1921. Politicians in the US keep warning about the possibility of a Greek or Ireland scenario, while at the same time inducing an ugly UK-like one.

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