We have now officially hit the zero growth figure in the second quarter of 08.

Why its taken so long for the powers that be to accept that immediate action is needed I have no idea, but we should now see positive steps to try and correct the position, brave bold moves are needed, not sloping shoulder gestures.

Trumpo has been calling for interest rate drops since the beginning of the year - we called for a biggy correction in the 07 year end review http://www.trumpo.com/blog/business/trumpos-2007-year-end-reflection/; and agreed a rate of 4% was needed in Feb 08.

Why delay when its been so obvious to us minnows that we needed to move to lower levels at the turn of the year, all that’s happened since the credit crunch is an increasing consumer debt level - only this week we hit the highest level of unaffordable debt ever!

Maybe now the wheels can be put in motion for “Biggy rate cuts” so we can look forward with more manageable and workable interest rates. Come on Bank of England, your country needs you to act NOW.

Even the Telegraph have reported today that some analysts are predicting interest rate cuts to 3.5% to prevent the recession being long and drawn out.

Trumpo’s looking forward to commenting on the now widely reported and much needed drop in interest rates over the coming months!

Good news, it will just keep on coming…

You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.