The news on the UK economy just keeps getting worse. Last week’s news was unremittingly glum - from falling house prices to income squeezes, most of us are quite a bit worse off than we were a year ago.

Yesterday, I left you with the thought that the London traders had been buying dollars since they arrived back from their three-day Holiday weekend. The U.S. traders did the same… And I believe profit taking was the order of the day.

Falling house prices, tighter credit and rising prices are going to hurt consumers.

Up, down…up, down – what’s the economy telling us?…a look at an endangered species. Rising price of food forces millions of Americans on to food stamps…you may be able to print your way out of a recession – but you can’t mint your way out…and more!

More ‘bad’ news for the housing market yesterday. Surveyors are writing smaller numbers on the top of their housing valuation reports.