FTSE 100 index drops below 5000 points, its lowest level for three years. Inflation is at a sixteen year high of 4.7%. Shares in HBOS, the UK's largest mortgage lender closed down 21.7%. House sales are down by about 50% in the past year; mortgage approvals are down by more than 70%. House prices have dropped for the the ninth month in a row and could drop by 25% when compared to 2007.
I wonder if Gordon Brown now regrets claiming to have put an end to Boom and Bust?