At last, a sensible mature and accurate reply. Business and personal finance are built on sound economic principles. But in everything you do you need a little luck. Just maybe our Smug friend has been lucky. I doubt very much if Richard Branson or Phillip Green read emails on Moneysupermarket.com, but hey they might just be lucky too!

There is nothing smug about being in the mess Britain is, but be a realist and learn from it, so that when it happens again you are ready.

A ( small) study of economic cycles shows that the financial sytems gets overheated from time to time, and Governments generally love this because it makes them popular ,with those who have lost track of reality and live on credit. Remember the new 'paradigm' they were peddling in 2000 about the dom com bubble? Well it wasn't new at all, it was illusory. So is everything that is not founded on solid economics.

would love to know why the government doesnt help us not the banks by passing on the cuts in the way of tax and ni cuts.... that way then the banks cant get their greedy little hands on it.

Could you please run our country. We need people like you in Government, Oh hang on a minute we have lots of them already.

We are not worthy.

recessions come, recessions go. I have seem a few, that is why you have savings and never live beyond your means. More fool those that live on credit , bought houses at stupid prices and relied on exchange rates that are not fixed.

At the bottom- or near- I will pile back into the FTSE to get some bargains. don't forget the market was flat on its back in 2003- only 5 year ago. I got some good deals then , cashed in last May. Do not follow the crowd, as they are lost!

Hi, i am an employer of around 30 people and i have seen no help from the Government to help directly to the employers. Perhaps a reduction in employers contributions for a while because as things stand thet will be getting no contributions from me or my employees very shortly. We will all be claiming of them soon, how about that for a swing in funds.

JBS.

It’s going to be a tough year for the economy but what about your own finances? With warnings that the number of people out of work is expected to rise sharply and house prices will fall further, are you concerned that your own financial situation will deteriorate?