My OperaWhy is Britain still in recession? Ooh er... Let me think.
Friday, November 13, 2009 11:15:42 PM
It's official. The UK is still in recession. 'Why is this?' demand the papers (Oh, and her majesty's opposition).
Let me hazard a theory or three.
1/ Britain went into recession later than most of the rest of the world, so it's coming out later.
2/ Other countries had deeper recessions than ours, so ours is just as bad as theirs. But shallower.
3/ As the CBI has been reassuring us ever since Thatcher demolished our manufacturing base, what Britain does best is to add value to the work of other, less well paid, artisans. So we have to wait for them to come out of recession and start manufacturing and shipping stuff over here again for us to add value to. We also need to hope that 'they' haven't noticed what value we're adding and started adding it themselves.
I'm guessing it's 1% option one, 1% option 2, and 142% option 3.
We're stuffed.
Let me hazard a theory or three.
1/ Britain went into recession later than most of the rest of the world, so it's coming out later.
2/ Other countries had deeper recessions than ours, so ours is just as bad as theirs. But shallower.
3/ As the CBI has been reassuring us ever since Thatcher demolished our manufacturing base, what Britain does best is to add value to the work of other, less well paid, artisans. So we have to wait for them to come out of recession and start manufacturing and shipping stuff over here again for us to add value to. We also need to hope that 'they' haven't noticed what value we're adding and started adding it themselves.
I'm guessing it's 1% option one, 1% option 2, and 142% option 3.
We're stuffed.
