But terrible for air pollution.

Surely newer cars are better for air pollution (as long as they replace older cars)? But not good for the environment generally, of course.

[Actually, on a serious note, consumerism is generally bad for the environment, but is the biggest driver of the economy]

The environment can take quite a hit during the car building process as well, so the issue isn't only the running stage. This of course includes Toyota Pious drivers and the like with all that is required to build their greener cars.

Chris, i have no wish to rain on your parade, but whilst i believe credit usage in a consumer driven economy is essential there appears to be at least one person with an even more pessimistic outlook than AEP

http://blogs.telegraph.co.uk/finance...wls-saxo-bear/

Yikes, depressing.

I tend towards either hopeful pessimism or cautious optimism at the moment. Definitely not irrational exuberance. I'm a Warren Buffett admirer.

Interesting article about the state of the global economy.

The general tone contained within it is close to this article with the IMF warning that the global economy is too weak for comfort. It mentions that we could be heading towards years of "sub-par growth" and that without "brave action" the world could fall into a "low growth trap".

The problem is that we can't get off the world however, if headed to the UK we might for the longer-run consider alternatives or some sort of balance/trade-off if we have a choice and see a choice that possibly makes sense and are not simply feeling the need to head HOME to the UK.

My personal concern is that my pensions in total will only just pay the rent and council tax in a 2 bedroom place in the provinces so I have to make the rest in some fashion and these articles don't necessarily give me much comfort, to use a bit of understatement.

This thread could easily take a downward turn (mood-wise), couldn't it?

But you are correct in seeing the importance of being aware of bad possibilities economically - few of us are so well off that regardless of where the economy goes next we will definitely be all right (Jack ). A Pollyana approach invites disaster for most of us (I assume, from having read the posts of most returnees).

I have accepted that I will never be well off and just work hard at building a future that keeps me above poverty level, with enough to at least feed a dog, buy a pair of walking boots when I need them, fund a road trip now and then, and allow me the luxury of a glass of red wine each day. Anything more than that will be a bonus.

I have learned late in life that the tax man is not your friend and there are perfectly legal ways of minimising his/her take. This year I will pay no tax at all, as I am ploughing every taxable penny into pension funds. I am praying that if the economy tanks it will not be to the extent that I lose too much on my (overall medium-risk) investments, and on the positive side I figure if I end up with a low income in retirement, at least I will pay less tax.

Sorry, I was off topic anyway, but the smog affecting the UK for the last few days has a specific cause which is diesel fuel. People have been encouraged to buy diesel vehicles because they have fewer greenhouse gas emissions, but the emissions from diesel are worse for smog.

I think that people buy diesel vehicles because they go further in mileage and maintenance is practically zero and they last a lot longer. We are one of those people , probably one of the 5% who actually have in Canada. But then it is German engineered
Back to topic!

The specific cause of the pollution that has affected Europe the last few days is a mixture of Saharan dust and 'normal' pollution.

Oh rest assured there some that wont stop until it does

No problem, if I read and believed all the 'end is nigh' stories I would be reaching for the razor blade

Diesel cars

http://www.thesundaytimes.co.uk/sto/...cle1396924.ece

Although I believe the proportion of diesel vehicles is even higher in Europe