The general rule of thumb is that a recession occurs when real gross domestic product (GDP) growth is negative for two or more consecutive quarters And based on forecasts by the Organisation for Economic Co-operation and Development , Britain will be the only major economy that falls into recession this year .
Apparently the near collapse of the housing market is to blame for the demise of the UK economy which is why the Labour government announced a rescue package earlier this week. Most pundits have panned the package and a few even go so far as to say that it will cause further harm to the economy .
Personally, I think the government needs to step back and let the market correct itself. Yeah, it will be painful. But having the government butt in with a half measured response that benefits only a few, is definitely not the way to go.
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Hope Still LivesFrom: barzey.com
Post Date: 2008-05-20 22:01:32
As Senator Kennedy battles malignant brain tumor , I’ll say a prayer for he and family. I served as an Intern in his Boston office almost 20 years ago and as a result, he will always have a special place in my heart for being a man of great conviction and courage -- especially on issues related to imroving the lives of those less fortunate. Thus, as there definitely is a change coming, I hope he’ll be around for many more years to see it played out. ...
more An American TragedyFrom: barzey.com
Post Date: 2008-05-11 14:54:51
I completely agree with Andrew Sullivan’s analysis of the Clintons campaign to recapture the White House -- in the process they are completely destroying themselves and their legacy. So sad!
From The Sunday Times
May 11, 2008
Hillary Clinton’s suicidal gamble with race poison
Andrew Sullivan
From the very beginning, the premise and the promise of Barack Obama’s campaign was that it would transcend race. And last autumn the Obama team also knew this was the only way ...
more It’s OfficialFrom: barzey.com
Post Date: 2008-05-03 00:09:53
Ken Livingstone was defeated by approximately 140,000 votes. Londoners have gone mad!
Boris Johnson CON 1,168,738
Ken Livingstone LAB 1,028,966
Seriously! What were they thinking? Ken Livingstone was a bit arrogant at times, but he was a damn good Mayor these last 8 years and played a key role in helping London to become one of the "greatest cities of the 21st Century." He willed be missed.
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