My private banker's report came in today, his bank's view is very bearish. Finally coming into line with my feeling for nearly 12 months.
Probably the most surprising though is the talk of deflation being a real risk, particularly in the UK.
I have suspected this but not so soon. Is it getting worse faster than even the bears expected? I think so. I have had a few chats with colleagues recently that feel the same way.
I was going to write a detailed explanation on deflation but wikipedia has (as usual) already done a great job that is hard to beat.
All about deflation...