The US has downgraded its forecasts for the US economy and markets there are now planning for a double dip recession. Likewise, houseprices have again stalled and spending on the high street is down in latest figures released in th UK today. All the signs point to a raised liklihood of a double dip recessions.
Now a few months ago the Lib Dems were warning against cutting too deep and too early because of fears of a double dip recession, yet in coalition with the Tories, this is exactly what we have done.
So if we do get a double dip recession, what should I say ? We told you this would happen but ignored our own advice.