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..There's a little Samuel Pepys in all of us..

Tuesday, July 26, 2011

Bad news to be released later today by the Treasury..
Our growth rate figures have slowed.. with some analysts predicting a contraction.. following growth of 0.5% in the first quarter..
Chancellor George Osborne has said that it is important for the government to stick to its economic plan "in a world of very great uncertainty"..
"We have brought stability to the British economy, we have brought interest rates down and we are creating private sector jobs.. that is all evidence that our economic plan is working and on track," he told a press conference..
Analysts are warning one-off factors such as April's extra bank holiday for the royal wedding and the effects of the Japanese earthquake and tsunami in March could have affected growth..
Even if the figure for the second quarter of 2011 is negative, it will still not mean a return to recession or the so-called double-dip.. at least that's what we're being told by some Pollyannas wearing rose-tinted glasses..
A recession is commonly defined as two consecutive quarters of negative growth, and there would have been a positive quarter in-between the two negative ones..
"The UK economy might as well still be in recession, even if technically it isn't," said Nick Pearce, director of the Institute for Public Policy Research (IPPR)..
And this is the idiotic non-information we're being fed these days..
People don't expect eminent analysts, to speak in double-talk, and push misinformation..
They expect.. they deserve the truth..
We're hip deep in trouble, and it will be decades before we see a light at the end of the tunnel..

And it's worse in the US..
Senate Democrats and House Republicans have unveiled competing plans to cut the US budget deficit and raise its debt limit to avoid a default..
Despite weeks of negotiations, the two parties remain at odds over the size of spending cuts and tax increases..
Even the threat of a general depression, American politicians can't come to an agreement to save their economy..
Barack took to the airwaves yesterday evening.. trying to reassure an increasingly nervous population..
But it will take far more than promises.. smoke and mirrors..
Take all the trouble we're in here in Britain, and triple it.. That's about what the US man on the street is looking at..
Case in point.. More than 10,000 veterans of the wars in Iraq and Afghanistan.. are homeless or in programs aimed at keeping them off the streets.. this is a number that has doubled three times since 2006, according to figures released by the Department of Veterans Affairs in the US..
The rise comes at a time when the total number of homeless veterans had declined from a peak of about 400,000 in 2004 to 135,000 today..
As of May, there were 10,476 Iraq and Afghanistan veterans either living on the streets, in temporary housing or receiving federal vouchers to help pay rent for an apartment..
About 13% are women.. says the VA...

More later..

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