Too Much Media Gloom

The UK media seems bent on destroying the UK economy particularly the Daily Telegraph through some of its columnists. If you read the blogs of some of its financial commentators they are always full of gloom and the "get it wrong" scenario. There is no room for thinking that some things may go right. They refer to 1931 and the green shoots in the economy there. And how it was all a false dawn. They forget that the data we are getting now relates to the last quarter of 2008. The quarter after the collapse of Lehman Brothers. On one day they are talking about depression and deflation, next day it is the danger of hyperinflation and boom again.

On the ground throughout the UK there is caution, but there is also cautious activity based on anecdotal evidence.

At some point, although manufacturing has almost stopped, people will once again require new things, and manufacturing and trade will pick up.

In terms of the UK newspapers apart from a couple their principal aim and single agenda appears to be to ensure that a new government is elected in 2010 and they will paint everything as gloomy as possible until that time. Good news is buried and bad news is King.