It has been clear for some time that “international exposure” wasn’t going to be a panacea for ailing American companies and stocks. High oil prices, inflation, and even good ol’ subprime mortgages are bringing down the rest of the world too. Europe appears to be on a similar economic trajectory as America, just a few months behind (See “There Goes Europe: Euro-zone Headed For Recession, Too, As Global Downturn Accelerates“).
According to a survey by The Guardian, a staggering 80% of Brits believe their country is heading toward a recession. 61% of people are worried about their financial position and 60% say they are cutting back on spending.
While these numbers represent only one data point, they are part of a clear trend.
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