UK prime minister Gordon Brown warned about a double dip recession
(another dip just after slight recovery) - see Guardian article:
http://www.guardian.co.uk/politics/2009/jul/06/gordon-brown-g8-leaders-recession.

A double dip recession is inevitable due to massive spending cuts and
tax rises, whoever wins next UK general election, unless there is a
socialist revolution! With £175 billion of borrowing predicted this
year, excluding subsidies to the banks, a massive amount of money
needs to be found from somewhere to come remotely close to balancing
the books! There's probably a similar situation in many other
countries, particularly the USA.

Trying to tax/cut heavily would face massive opposition from ordinary
working and middle class people. A chance to change society!

Seen article in Guardian on Monday: Tories planning to raise VAT to
20%. Would only bring in £5 billion and hit poor hard. They now deny
even discussing this internally (probably a lie)...

Big profits from some banks. Robert Peston (BBC) said £1.3 trillion of
subsidies to banks (in UK alone)! £3 billion Barclays profit small in
comparison!

Those banks that did well did investing in markets not just high
street activities, and profits from overseas operations. Big losses
due to companies going under and people not being able to pay
mortgages - despite high interest rates.

I got it wrong about Barclays going under it seems, but I could not
predict £1.3 trillion subsidy from taxpayer!

Quantitative easing: another £50 billion on top of £125 billion
already spent "printign money" - it seems that Bank of England/Labour
worried about what will happen when this policy ends! Bonds won't
sell?! Hyperinflation?! Who knows? [Nobody actually - free will is
becoming dominant in the world, so economic forecasts and even things
like the weather are becoming extremely inaccurate!!!]

--
Steve Wallis (Manchester, England)
Preferred email address: revolutionarysocialiststeve@yahoo.co.uk
Super-blog: http://www.twitter.com/socialiststeve
Other blogs: http://groups.yahoo.com/group/steve-wallis-socialist-blog,
http://blog.myspace.com/galaxiasteve
My socialist website: http://www.socialiststeve.me.uk [Indian mirror:
http://www.socialiststeve.in]
My pages at Facebook: http://www.facebook.com/socialiststeve, MySpace:
http://www.myspace.com/galaxiasteve and Bebo:
http://www.bebo.com/SteveW519
Founder, Ethical Capitalism Network: http://www.ethicalcapitalism.net
Founder, Foundation for Proportional Representation-based Socialism:
http://www.PRsocialism.org
Founder, Revolutionary Platform Network: http://www.revolutionaryplatform.net
My revolutionary socialist band, Galaxia: http://www.galaxiamusic.net,
http://www.myspace.com/galaxiamusic,
http://www.facebook.com/pages/Galaxia-a-revolutionary-socialist-band/84310120180,
http://www.bebo.com/galaxiamusic.
My socialist band, Red Day: http://www.red-day.net, http://www.myspace.com/reddayband,
http://www.facebook.com/pages/Red-Day/27468311341
Author, "Revolution Destroyed? Have I ensured that a world socialist
revolution will never happen?": http://www.revolutiondestroyed.net