Brown's Dead Cat Bounce is Over
Only six weeks ago Gordon Brown was portrayed as an international hero single-handedly defeating the evil spectre of recession. Feted by presidents and Nobel prizewinners, he basked in glory as Labour climbed in the polls. ...Now, as the hedge fund managers shout “sell Britain”, the voters are whispering to the pollsters “dump Brown”. And what worries Labour strategists most is that it is the crucial swing voters - skilled workers in the C2, D and E categories - who have turned in greatest numbers to the Conservatives. They have most to fear from the recession. There are growing calls at a senior level in the Government to rethink how the Prime Minister is handling the economy.
Job losses mount as downturn steepens - Times Online
In one of the darkest days since the credit crunch started, more than 4,000 posts in Britain were axed, with Corus, the UK’s largest steelmaker, alone cutting 2,500 staff....The cuts edged the economy closer to forecasts that unemployment will reach three million by Christmas. Jonathan Loynes, chief European economist at Capital Economics, said: “If you’re getting this number of job losses in one day, that gives us some indication of the scale of the problem we could be facing over the course of the coming months. Unemployment lags behind the economy – it will peak after the economy starts to improve.” ....
Every evening Dave and Georgie must kneel by their beds and thank their lucky stars that they aren't in control. Because whilst Darling Brown are making it worse the Tories wouldn't have made it much better, and if they had got in last year then this recession would have been the end of the Tory party for a generation. Let us hope when they do get handed the reins of power that they are lucky and the global economy is improving and secondly that they have found a clue as to what to do, and it isn't the managerialist's wet dream they have come up with, which is the kind of thing you would expect to be dreamt up by a wet-behind-the-ears Tory boy with no experience of the real world beyond his gilded cage.