Friday 23 January 2009

It's official (more gloomy financial news)

Headline news today, it's official... the UK is in a recession. Who knew? Wait a minute... just about everyone. OK, we'll let them off in as much as a recession is officially defined as two successive quarters of negative growth, and obviously you can't definitely say that until the end of the second quarter - but even so... could they sound a little less surprised about it?

Headline on the Evening Standard billboard at lunch time "Brown: I didn't see crisis coming". Really? I'd hope not, otherwise I'd be adding a few other derogatory adjectives in addition to the ones I've already utilised (those being useless, hopeless and others of that vein). If he'd seen it coming then I think his lack of action could only be labelled criminal. The question is  how could the man who is Prime Minister (and was formerly Chancellor of the Exchequer) not have seen it coming?!

In other news famous 'bail-out' bank Northern Rock awards bonuses to staff. They've not finished paying back all the money the Government leant them yet. How dare they give out bonuses. I don't care what excuse they give. There is none. Whilst the rest of the country deal with pay cuts, no bonuses and worse still job losses how can staff at one of the several institutions who helped precipitate this crisis possibly be rewarded.