Well, at least the OECD recognizes that the US isn't in a recession

The story on how bad things are in the UK is here.

Britain will be the only major economy to face the full force of a recession, according to the Organization for Economic Co-operation and Development. While all the G7 economies will slow The O.E.C.D. predicts that Britain will be the only member of the G7 whose gross domestic product will fall into negative growth. Since this will take place over at least two financial quarters, Britain fulfills, what economist like to call “the technical requirements” of recession. . . .



Anonymous Anonymous said...

Hi John,

Why all of the silence on the meltdown of Wall Street? What is going on this week in the U.S. financial system seems as historic as the Berlin Wall coming down and the destruction of the Soviet Union.

Folks want to know if their money in the bank is safe and how much U.S. home prices are going to continue to drop.


9/18/2008 11:35 AM  
Anonymous Anonymous said...

At last, some recognition from the OECD of what some from Britain have been saying for several years now.

25% of the workforce working for the state.
In administering agriculture alone the agriculture Bureaucrats (bastocrats) within the wider DEFRA out number the Farmers around 14 to 1.

That sort of crap only ends one way.

Many would say that the Brits have brought this on themselves and richly deserve what is coming, but most of my Family and friends are in there too and NEVER supported Tony B-Liar.

Welcome to the fourth world Britain!


9/18/2008 12:00 PM  
Anonymous Anonymous said...

Here's a link to the actual OECD Rept:


9/18/2008 1:11 PM  
Blogger Mike Gallo said...

Keith - it's not just Britain that will suffer from democratic socialism. With fertility rates amongst European countries at abyssmal levels, in a few more generations all these countries will begin to die, both literally and economically, in my opinion.

These countries are getting old and feeling entitled, and soon no one will be around to foot the bill.

9/19/2008 11:36 AM  

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