Reply To: Spain and UK seem to be competing for biggest fall in ’09



@katy wrote:

I haven’t voted (put me down as a don’t know đŸ˜‰ )

What I am seeing locally is that Spain has already been hit hard…the place is dead, shops and restaurants empty. I am in the UK now and there are no visible signs of a recession, hard to find an empty restaurant table etc. Difference is Spain doesn’t talk itself down unlike the UK who comes up with a new disaster every day.

I do not think UK talks itself down, the situation is critical. The difference is that UK people
have more money to start with so, if you take away some wealth, still a lot remains.
Spain had a once-in-a-lifetime chance to get rich due to construction sector. Take that away and see that the Emperor has no clothes…

But it is still hard to tell which country will fall further in the near future.