Tuesday, October 20, 2009
I was wrong, I was expecting a “W” shaped recovery
"He (King) said he expected Friday's GDP figures (Gross Domestic Product, a basic measure of a country's economic performance) for July to September to be positive". "In the UK, in the form of direct or guaranteed loans and equity investment, it is not far short of a trillion (that is, one thousand billion) pounds, close to two-thirds of the annual output of the entire economy". "To paraphrase a great wartime leader, never in the field of financial endeavour has so much money been owed by so few to so many".