Significant piece in papers yesterday regarding general economic collapse. Hailing the creation of 1500 jobs by Domino's Pizza while all other sectors are massacred. We thmay all have no money or rather no access to credit anymore but we still cant do without our heavily topped melted cheese snacks.
The context seems to be that the British service economy may weather the storm more than other places in the world. Dont follow the logic given that the NuLabour ethos has been to worship the financial services economy at all costs. That is what has collapsed.
It's ironic that Britain and the States have buggered up the rest of the world's capitalist economies that actually produce things - like Japan and Germany. Our drunken credit fuelled boom has been able to buy flat screen tvs ipods and mobiles ten to the dozen. Now all the money's gone as Babylon Zoo put it in their less successful second single the crisis of overproduction is there for all to see. No wonder the Japanese Finance Sec was apparently steaming at a press conference - he has now resigned!
On the first article I linked to what a terrible conclusion it makes - typical of the patchy analysis of economic commentators who have been mostly caught completely unawares over the last year. Anyway Im off to watch new Moz dvd.