Economic state of the Nation

This is getting disturbing. I know, I know, I should be spreading Christmas cheer and with a bit of luck and a prevailing wind I’ll do so next week. You’ll be …

By
14th December 2007 at 9:36 am

This is getting disturbing. I know, I know, I should be spreading Christmas cheer and with a bit of luck and a prevailing wind I’ll do so next week. You’ll be preparing for tonight’s office party (fact: more companies have this Friday as their office party than any other night) and want a bit of light relief.

I’m talking about the development widely reported yesterday in which our Government, as well as several others, has agreed to step in and help banks when they run into trouble. The Times comments on it here, the Telegraph comments here and there are of course others.

So the Prime Minister thinks it’s a great idea, no surprises there. And the Telegraph is critical of the PM’s apparent policy – no surprises there either.

My fear is that things are slightly worse than we thought. There have been recessions before. The Depression in the thirties, now slipping from living memory, was appalling. At no stage, however, did anyone turn around and ask the world banks to pump money in to shore things up. Just how bad does it have to look before the UK and several other countries insist on pumping loads more money in? I have an unpleasant feeling we’re being treated as the patient who hasn’t actually been told the whole truth, but who can see the massive amounts of treatment going on around him. I hope I’m wrong. As Jeff Randall points out in the Telegraph piece, this isn’t a cancellation of a load of debt, it’s a postponement.

Oh, and I take it everybody noticed this? Good. ‘Tis the season to be cautious…

#646464

Guy Clapperton is a freelance journalist who specialises in small business issues and has written for the likes of The Guardian, the FT and the Daily Mirror. Guy has written about finance and franchising for SmallBizPod. http://www.guyclapperton.co.uk

Commenting Is Easy

Do you agree with this blog post? Disagree? Have something to add that others might find helpful? Then please leave a comment in the box below.

If you'd like to have your image included next to your comments here, then you can set yourself up with an avatar in just a couple of clicks.

Leave a comment

Photostream

Listen to the sales podcast for SMEs Subscribe to the podcast on iTunes

BUSINESS PODCASTS

Click on one of the play buttons to listen to inspirational interviews with entrepreneurs from SmallBizPod.

SmallBizPod #53 - Podcast with Jennifer Irvine of Pure Package

SmallBizPod #53 - Podcast with Jennifer Irvine of Pure Package

PostedDetails | PostediTunes
play small business podcast now
SmallBizPod #72 - Michael Gerber podcast - dreaming big with the E-Myth author

SmallBizPod #72 - Michael Gerber podcast - dreaming big with the E-Myth author

PostedDetails | PostediTunes
play small business podcast now
SmallBizPod #87 - the eBay podcast: interviews with Dan Wilson & Sue Bailey

SmallBizPod #87 - the eBay podcast: interviews with Dan Wilson & Sue Bailey

PostedDetails | PostediTunes
play small business podcast now
SmallBizPod #95 - Enterprising Young Brits Jamie Murray Wells & Priya Lakhani

SmallBizPod #95 - Enterprising Young Brits Jamie Murray Wells & Priya Lakhani

PostedDetails | PostediTunes
play small business podcast now
SmallBizPod #77 - business innovation - every idea is a startup

SmallBizPod #77 - business innovation - every idea is a startup

PostedDetails | PostediTunes
play small business podcast now
SmallBizPod #47 - Venture Capital podcast

SmallBizPod #47 - Venture Capital podcast

PostedDetails | PostediTunes
play small business podcast now

PARTNER PROMOTIONS

If looking to boost your businesses performance with promotional marketing, travel incentives or incentive schemes get it touch with NDL Group