Wednesday, August 11, 2010
Double Dip Recession Looms on Horizon
On Sky TV Barclays' head of global banking told Jeff Randal the risk had increased though added he did not think it would happen. Hmm. Labour's Alistair Darling claims his prescribed antidote of sustained borrowing combined with tough measures to remove half the defict in four years from 2011 was the way to go.
At the moment such claims are vitiated by the fact the party's leadign figures are involved in the leadership contest and the fact that voters will mostly ignore such claims on the grounds that 'they would say that wouldn't they?' But should the double dip arrive suddenly Labour will achieve credibility, Osborne will lose his along with his boss and the unhappy Cable. Then I wonder how long the coalition will have left to run...