06 February 2009

Have the economic options run out?

There is evidence today that these various stimulus packages will not help the economy to avoid a deep recession.  There has been a 220% rise in insolvencies.  Manufacturing has declined by 10.2%.  Perhaps it was not a slip of the tongue by Brown at PMQ’s when he mentioned the word depression.  He sees the figures that we don’t.

What options are left?  Is the political issue to be seen to doing everything possible, but in reality there is nothing substantial that can be done to avoid depression and deflation?

I have never known business to be so flat and the outlook so grim in the 30 years of working, 20 of which have been in the private sector.

Martin Kettle in the Guardian writes about a national government.  This follows a similar one last week in the New Statesman.  In reality what would this achieve except short-term political expediency?

The G20 will have to do some serious out-the-box thinking to have a real sense of achievement.  Photo opportunities with Obama will not be the solution.

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