The fears of recession in the aftermath of Black Monday have turned to fears of the economy racing ahead too fast, with inflation edging up and a substantial current account deficit... People understandably feel more confident about their future than they've done for decades, but as a result they have been borrowing more and saving less... Coming on top of a massive income investment boom, it's all been just a bit too much of a good thing.
Speech to the Conservative Party Conference, October 13, 1988.
![The fears of recession in the aftermath of Black Monday have turned to fears of the economy racing ahead too fast, with inflation edging up and a substantial current account deficit... People understandably feel more](http://cdn.quoteddaily.com/images/nigel-lawson/the-fears-of-recession-in-the-aftermath-of-black-monday-have-turned-to-fears-of-the-economy-racing-ahead-too.jpg)