Recession? The penny hasn't dropped yet!

Yesterday most financial commentators were beside themselves because Britain is still in recession. I don't give much credence to all their computer calculating and number crunching excercises. I prefer a more simple method of comprehending whether we are out of recession.

When Gordon Brown was over-gulping on the air and telling us that he had abolished boom and bust I regularly spotted coins dropped on paths and pavements as I walked about. Outside the post office, in car parks, by the telephone kiosk, outside the boozer and so on. I once picked up a pound! Then we had the start of the credit crunch and the pennies stopped dropping from heaven or wherever. I still peer at the ground. Once in a blue moon I spot a coin. But it's a rare occurrence.

When those coins start being dropped again with gay abandon and caution being thrown to some economic growth wind I will believe that we are out of recession. Until then, it's just a hard slog and a determination not to say too many rude things about bankers and Brown!

Posted in: credit crunch,money,recession