What a title for this moan and reality check.
They say we are in recession well all the media hype if we were not, we are definitely on our way to one.
What gets me is the Government saying that they did not know what a mess the banks are in or not saying as the case maybe. Financial controls in this country and world wide have been built up over the past 20+ years. The principle of these financial rules are to ensure that each Bank or Financial institution has sufficient capital to ensure the solvency of the system. Every moment of every day each bank or financial institution has to ensure that they are in compliance with the Bank of England and the FSA rules which govern these situations.
Call me old fashioned but both these bodies have been set up by statute as part of the Law in the UK. I would believe in the event of any danger signals the Government would be informed and therefore would be fully aware of any concerns for the economy of the UK.
The media seem to have missed this point as they are seeming to revel in this current situation. What happens to good news we don’t hear about it as it does not sell paper what a world we live in.
For my business it is not very good in the last year I have tried to increase business by opening a second shop. I must have been mad we are now struggling to keep both businesses afloat with increased investment and a time of consolidation. We don’t know what is going to happen in the next few months but it will I hope mean that we can continue trading.