A lot of this is clearly speculative, but I did tell (everyone) so.
Taking demand out of the economy has seen a slowing of the economy. The stimulus package kept the economy going reasonably but the cuts have begun to hit it, and hard. Another problem is confidence as if people think there will be a recession then it is far more likely to happen.
Aside from my gloating, there are some pretty serious issues here. I feel the economic problems with my inability to get a decent job or even security in the shitty one I have.
The political bits of this really are not as important to me as the effects on my life and prospects, but this would be hugely damaging to both coalition parties if the economy tanks. If that's the case Labour will have an open goal for 5/10 years. And given Ed miliband's performances I think we might need it. Ed Balls is a heavy weight so might add something there but has the potential to fuck everything up and piss everyone off.
What matters to me is my job and lively hood, my prospects in the short, medium and long term. The inside of the Westminster bubble does not greatly concern me at the moment