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Bill Jamieson: Confidence needed to stop the Recession Express in its tracks



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Published Date: 28 November 2008
CLEAR the line and get out the way! The Recession Express is smashing through a high street near you. Woolworth, MFI and a raft of struggling businesses leveraged to Hell and beyond are being crushed like matchsticks as the Duchess of Doom batters on.
What can be done to halt the runaway train?

Flaky though Alistair Darling's Pre-Budget Report may have been, and its arithmetic as solid as a Northern Rock balance sheet, there are good grounds for believing that this engine of destruction can be...



The full article contains 1007 words and appears in The Scotsman newspaper.
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  • Last Updated: 27 November 2008 9:09 PM
  • Source: The Scotsman
  • Location: Edinburgh
  • Related Topics: Bill Jamieson
 
1

Darien,

Panama 28/11/2008 10:35:47
"By this time next year the mood in the housing market and the wider economy will be quite different to the mood now. We will have something approaching hope compared with the fear that is gripping business and household wallets at present."

Many will hope you are right, but I suspect that unemployment will still be rising late next year and well into 2010. And after the UK's post-industrial service economy is more or less wiped-out, with many firms gone to the wall or substantially downsized, what type of jobs and industries, if any, will there be for the displaced masses? For them I think the abyss could still be a better analogy. Darling's notions of forecast recovery is also way off the mark. The UK, like the USA, is an impoverished basket case economy in rapid decline, for which there is probably no economic strategy able to adequately reverse.
2

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28/11/2008 10:36:05
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3

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28/11/2008 10:47:47
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