nowt happening over here really.
the main short term concern is over monetary movement. the merger of EU states meant that our eastern cousins flooded over in one of the biggest ever human migrations.
britain and many other western states are awash with romanians, polish and balkans. all more than happy to live 12 to a bedroom, earn minimum wage and still send more money home than they could ever before conceive possible.
and then they leave.
the upshot is, the money leaves our country, rather than being reinvested, ie in food, fuel or housing consumption. i guess this compares to america by your porous mexican border. y'all need illegals! cheap labour for cotton picking / bottle washing / litter collecting etc...
the long term concern is also over house prices. young uns cannot afford to buy a house purely due to the cost of the deposit. those who have got property have realised massive inflations in their value, but because it has been so high for so long, people are waiting for a crash. so these proud home owners who are virtual
millionaires are beginning to lament the truism, that something is worth only as much as someone else is prepared to pay for it
combine this with american rumblings of a credit crunch
and imminent recession, and people are listening to rumours and are no longer spending so freely. it is a self fulfilling prophecy!
but thus far, aside from northern rock
going kaput (momentarily) its all good. the Euro is gaining strength and no one is bothered by the US situation even in the slightest (despite the doom and gloom headlines). those opposed to the US (iran, south american states etc) switch from using the dollar and go for the euro instead, which is no bad thing. for our bidnis interests at least.... and of course we have the ever stable and friendly russia on our economic team!