Tuesday, 25 January 2011

'Negative growth?' Come off it, we're in decline


Regardless of who came up with it, I hate the term 'negative growth'. Negative growth is decline.

And a 0.5% decline in the economy is exactly where we are.

Two quarters of negative growth equals recession.

But still the Conservative-Liberal Democrat axe falls, unemployment rises, the pound plunges, VAT leaps, the housing market slumps, inflation increases, confidence dips and petrol prices rocket.

Not looking good Mr Osborne.  Is that a double dip on the horizon?

Have we learned nothing from Ireland?

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