In a previous post I commented on some companies that were delivering good results despite all the glum news. Today I came across an article from Harvey Jones that was posted on lovemoney.com who has been taking a look at things. He’s been looking at signals such as house prices and spending on cards and draws an interesting and intelligent conclusion – its not as bad as history.
“So enjoy the bits of good news that we have, because they could be thin on the ground for the rest of the year. But comparisons with the devastation of the 1930s are misleading, because even if the UK contracts as much in percentage terms as it did then, it will be from an incomparably higher starting point.”