07 January 2009

The High Street downturn

M&S reported pretty awful results this morning.  Robert Peston sums it up with his usual precision here.  This could be the precursor to something much worse.  Nobody is suggesting that M&S will go under but you never know what is next…..

Clearly what is happening in the real economy is much worse than the government is owning up.  Something will happen that will tip the scales.  But what?

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