Overview

The global economy is still emerging from the deepest and longest recession since 1946. A widespread increase in corporate default and insolvencies is now evident across all the major markets consistent with the contraction in economic activity. For example, insolvencies in the US and the UK are increasing at the alarming rate of 50% per year.

Before July 2007 there was widespread belief that the phenomenon of ‘boom and bust’ was a thing of the past – a belief promoted by the UK government, no less. a very old-fashioned and unsophisticated way, the simplest and most enduring tools are probably the best.

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