It is ironic, but the UK housing crash looks a picture of moderation compared to the train wreck called the FTSE. Since it peak last October, this wealth extracting index is down 25 percent. The housing market is only down 14 percent. The purchasing power of cash fell 4.7 percent; which is of course, the inflation rate.When looking at the FTSE chart, I was struck by the forlorn attempts at recovery. I reckon there were five, with each rally followed by another terrible crash.
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