Double Dip Recession ? We were warned !

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.

Re-arranging the deck chairs on the Titanic

Why am I left with the feeling that football, politics and to some degree the ongoing problems with the economy pale in to insignificange today compared with the potential flu pandemic.

We face the perfect storm or an economy in a mess and a potential pandemic flu. At present companies cannot afford to let people stay at home to look after children who may be at home if schools close, this means more companies going belly up or even greater government borrowing to tide the economy over. Meanwhile restaurants will close, pubs will stay empty, nobody will be spending any money, the economy will go through the floor, and whilst all this is happening thousands of people will be losing their lives.

Life, as we know it, is about to change dramatically.

The most succinct explanation of the recession

I overheard two financial advisers chatting in the changing rooms at the gym yesterday and one of them gave the most succinct explanation of the recession that I have heard.

"The difference between this recession and the one in 1990 was in 1990 I had lots of mortgages to sell, but no clients. This time I have loads of people wanting mortgages, but none to offer them"

The recession - A chance for bad bosses to take advantage

One thing the recession has seen us return to is workers being scared to ask for what they have earned because they fear the sack. A good example today is something I heard from a colleague who has a member of her family who works for Debenhams.

Apparently Debenhams are "encouraging" staff to work anything up to 12 hours a day repricing items for the sale, but without overtime pay, and with the implicit threat that has been made that "there may be redundancies in the new year".

How daft a worker would they be to insist on overtime pay or refusing to do the extra hours knowing that bosses have already mentioned imminent redundancies.

Yes, indeed, some companies really are taking advantage of their workers.

Still no signs of banks helping businesses out

The BBC reports that the banks are wanting to see Woolworths be wound up, with the loss of 30,000 jobs, rather than allowing the company to be refinanced and taken over. This is apparently because the banks want to get their hands on the money sooner rather than later.

I though the government had loaned billions of pounds of tax payers money to banks in order to allow them to maintain loans to businesses and keep the economy running.

They ought to publish the names of the banks responsible for wanting to see 30,000 people lose their jobs and ask questions about how much support these banks have had from the government and tax payers.

Sadly, this is not a one off either . Radio Five had numerous calls on the subject of banks supporting businesses last week with a number of businesses people, even those running successful businesses with plenty of orders, saying that banks are withdrawing overdrafts and promised loans.