11 June 2009

On not counting chickens

So that's it then. The recession is over. Been there, got the t-shirt. And the sunlit uplands are now just over the horizon.

But, as I contemplate the half-empty glass, I fear that it will not be so simple. And, anyway, if the recession is indeed over, we will need to turn our attention to the public debt.

1 comment:

John A Thomson said...

... and unemployment being a lagging indicator will continue to rise and rise!

Perhaps the media now realises how much damage they did in the first place talking up the crash... they are now trying to talk up the recovery.