Only a few banks have gone bust. There is no recession so no idea why people think there is.
The reasons it is unstable is post pandemic plus Brexit plus currently the cost of living crisis.
Sky News mentioned the economy is flatlining a good month ago. No recession after all.
The building trade is still very busy. I was told over 20 years ago in a London job one time that the signs of a real recession is when the builders have way less work. This is not happening in any shape or form.
Hope this reassures people.
My clients working in finance in the city of London seem to have a different opinion, this said there's a lot of money in London, even if the world goes bust London is still one of the most important international financial hubs, the only problem is tons of competition. Covid, Brexit, biggest inflation in 40 yrs, Ukraine war, energy bills going up, a series of important banks going bust this month etc... all those factors are causing a recession, of course we will have Riki Sunak stating it's all good and recession is a non thing, but then him and his wife are millionaires so he's the last person to feel the pain. It's clearly a non thing for him but not for the rest of us "commoners". As per the building trade I remember all the pandemic while we were on lockdown and panicking about our futures builders were very busy (at least inLondon), during lockdown I would get in the tube and all I saw was builders and similar trades getting back home. Unfortunately the sex industry is one very sensitive to recessions. I'm not painting a picture of doom and gloom, some of us will navigate this better than other depending on a variety of factors like geographical location, business model, having been in the indutrsy for a long time and developed a regular clientele etc... etc...
