Wednesday, 27 October 2010

Those deck chairs will look far better over there ...

Bristish chancellor George Osbourn is waxing lyrical about the recovery of the British economy (1).

The cause of his delight is that the latest GDP figures are better than the forecast for the quarter. He's studiously ignoring that even the improved figures are are markedly down on the previous quarter. So we're doing better than expected, but worse than we were. You can take what you want from want. Obviously, I interpret it as meaning Osbourn is insane and we're all doomed.

Osbourn's a bit like a passenger on the Titanic, who, clinging to the stern as it rises into the cold night sky just before its final plunge, delightedly declares that the ship is unsinking itself.
1 - "UK economy grows a faster-than-expected 0.8%," unattributed article. Published by the BBC, 26th of October, 2010. (http://www.bbc.co.uk/news/business-11624742)

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