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  1. Wealth
October 29, 2008

The recession in the real economy

By Spear's

This blog site is so that we and you can maintain a log of some of the most extraordinary statistics.

The Credit Crunch started on Wall Street but now it has hit Main Street. At WMS we believe accurate anecdotal evidence is vital for an economist in generating a “feel” for the economy, something a computer model can never do as it runs only on maths.

This blog site is so that we and you can maintain a log of some of the most extraordinary statistics as we track the course of this particular Bear. Try and add a joke to keep us all laughing through the downpour, so don’t forget the old adage: “It’s the Bulls and Bears that make the money, but the pigs go broke!”

Stunning Anecdotal Evidence Here Please

28 October 2008:

  • Volvo Heavy Truck Sales:

              Q3 2007: 40,000 Units

              Q3 2008:      115 Units     WOW!

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  • Bank of England Forecast:

             Households in UK with a Mortgage:                  11,200,000

             Households already in Negative Equity:                500,000

             Households to go into Negative Equity:                 700,000*

             Percentage of Total in Negative Equity:                        10.2%

             Households in Negative Equity in early 1990s: 1,800,000

             *Based on a further fall of 15%

             And the Bank calls its report the “Half-yearly Stability Report”!

  • The List Price on a Boeing 737 is $75 million. Turkish Airlines are buying 20, at just $42 million each. All is alive and well and working normally down at the Souk.

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