Dip once in the ass, and once in the mouth…
October 25, 2009 7 Comments
Murmurings abound about a ‘double dip’ recession.
Recent economic figures caused much consternation, if little surprise.
Now, Brown’s saying we’ll be back in growth by the end of 2009:
And here’s where the much anticipated double dip will enter it’s second phase of decline.
For the nation as a whole, it has been a year of shitty news on the economy, hectoring from the state about every damned thing we do, utter desperation about the state of education, the NHS, justice, law & order and the ghastly corruption, venality and greed of our elected ‘representatives’. Faith in democracy is draining away. People are fucking pissed off. Depressed. Deprived of joy.
In the meantime, a bunch of people have moved onto tracker mortgages at tasty rates, freeing up disposable income (but not for paying down capital, natch).
In this society, many people acquire and consume goods as an abstract pursuit. An end in itself, which satiates psychological needs imbued by aggressive and invasive advertising. Tis a given, right?
These factors combined with the continuing availability of (not cheap) credit cards will fuel a Christmas consumer binge. We know that much of the economic growth in the last 10 years has been driven by insane consumerism. This binge will drag the economy back on to an upward trajectory. But only for Q4 ‘09.
In January, we’ll all sober up from our binge, open our bank statements and discover we’re gonna have to eat tinned beans on Tesco value toast until payday.
At which point the economy falls back into diminution. Brown’s getting on with the job of taking the tough decisions and, wait.. what? just fuck off, you shameful bunch of nation-wrecking cunts.
Oh and it wouldn’t be the first time Gordo’s economic snake-oil has given us a W-shaped graph.
Although now that I think about it, rather than a W, it looks like a pair of tits, doesn’t it?