UK faces bleak 1970's style period - papers 14 Feb

Presenting the 2008 edition of the bank's influential Equity Gilt Study, strategist Tim Bond said an extended period of disinflationary growth that had accompanied the early industrialisation of developing countries such as China had come to an end. In a bleak assessment of the global outlook, he forecast "rising real resource prices and a degenerating ecosystem, in turn catalysing changes to the fundamental structure of the economy". He concluded: "In the future, fluctuations in output growth and employment may be somewhat larger than we have been accustomed to seeing over the past two...