It's a recession. Everybody broke.

I got very sick of the phrase "Boom and Bust" a few weeks back but when you look at the posters New Labour ran over the last 11 years it's pretty incredible the way they fucked it all up. Today we have the announcement that unemployment reaches 11 year high. I wonder what happened 11 years ago? The economy they inherited, all they needed to do was safeguard it and they'd be in power forever, voters in this country will vote based on their house price and perceived quality of life. What do New Labour offer at this point? The Bank of England say Britain has been in a recession since the middle of 2008. I thought it was a "Credit Crunch" and then a "Global Economic Downturn"? What nice phrases they are to keep people from saying my current catchphrase "Recession". I'm hearing that the next quarter's readings on the subjects of unemployment and interest rates will be even more alarming. Yey. Merry Christmas everybody!

Recession in the UK is months away

The boarded up flat seems to have made a sharp comeback over the last two or so months. I'm thinking about taking a photo of every one I see and posting them here. It's a powerful image. According to The British Chambers of Commerce we are six to nine months away from a full-blown recession in the UK. Who remembers the "Credit crunch"?

LINK: Scary times

UK home repossession rises 41% in 6 months

Wow. The BBC reports that home repossession has risen 41% in the first six months of 2008 to 18,900 with estimated year end repossessions hitting 45,000. That's several hundred percent. I've seen a few repossessions going down on the estates over the last couple of months, that is some serious, serious stress. Nobody needs that.

Gordon feels awkward

Alistair Darling says he's not giving up any more money for schools, the NHS or Transport until the economy stabilises. If house prices have anything to do with it, that could be two years at least. Vince Cable (Liberal Democrats) says "Ministers must not simply lop off the easiest bits of their spending commitments. Instead, the government needs to be very clear in setting its priorities for spending. This should include taking an axe to public sector bureaucracy, in particular the highly paid managers who occupy lucrative positions in quango land." But that's the government's power base! They've spent 11 years creating public sector positions for middle class voters. If Brown and Darling turn around and tell them they're out, well then they've got no hope of winning the next election. What a conundrum.

A BBC study suggests that 18% of 16-17 year olds are "Doing nothing", that's not fair I mean, they're keeping busy.