U.K. Consumers in Deepest Funk in 40 Years

One thing you can always count on at (or towards) the end of a recession? An "end of the world," the "sky is falling," "it's never been this bad," "gloom and doom" article in Time Magazine, here are 4 examples:  

Anyone interested in the ongoing argument about whether it's better to confront the weak economy with "austerity" or "stimulus" should keep an eye on the United Kingdom. Since the financial crisis, in the United States, we have pursued a mixed approach--some stimulus, some austerity. Our economy is gradually recovering, but at a disappointing rate.

Retailer blames t

LONDON (Reuters) - Britons' worries about inflation grew this month, though their view of their future finances was the least pessimistic in 2-1/2 years, a survey showed on Monday. The Markit Household Finance Index (HFI) dipped to 38.4 in September from August's 20-month high of 38.9, indicating that consumers' finances worsened over the month as the index was well below the 50 mark that would mark no change. The latest reading was still one of the highest in the past two years, and households reported a reduced squeeze on their savings and cash available to spend, survey compiler Markit ...

U.K. consumers remained gloomy about their prospects in July, despite a number of efforts by policy makers to stimulate economic growth.

While GBP jumped and the world celebrated the UK's recent avoidance (for now) of a triple-dip recession (defined on GDP as opposed to reality), the situation in the island nation appears to be going from bad to worse. As Carney takes over the reigns of this once mighty nation he faces a country deeply divided. As the BBC reports, while London real estate prices smash old records, a stunning one-in-five households borrowed money or used savings to cover the costs of food in April. This is the equivalent of five million households unable to fund their food via income alone.