When it comes to letting us in on the full extent of our current woes, our lords and masters, not to say those that pass as financial journalists, are nothing if not coy. It was only recently, for example, that we learnt that the American economy has been in recession since 2007. Then we were reliably informed that our plight was the worst since the 1990s. This was later changed to the 1970s. This was serious stuff but obviously not serious enough, as a later update told us that things had never been so bad since the end of the Second World War. And now the cat has been let out of the bag with a vengeance, and we know that things have never been so bad since the Great Depression. What next – the Black Death?
And predictions for the future? The original line was that things should start looking up in the second half of this year but this was quickly changed to 2010 or even later. Why don’t they come right out with it and say that it will take at least five years for us to get out of this mess?
No comments:
Post a Comment