Recession therapy?

On Tuesday (July 22nd), the Guardian reported that 80% of us think the UK is heading for a recession.  60% of us have already cut back on spending.  Allegedly, trust in the present Government is fading as quickly as our visits to the high street.  Across the Atlantic, the New York Times reports that women in their prime earning years are struggling with an 'unfriendly economy'.  Now women, just as men, are being afflicted by layoffs, downturns, outsourcing and wage cuts.  All this is about to get worse, so says the FT.  Knocks to consumer confidence means that Marks and Spencer is the beacon of this recent boom and bust.

As a researcher, I like 80% figures. The Guardian report suggests a definitive perception that we're heading for recession.   

After reading countless articles about looming recessions, baron high streets, negative equity and redundancies you could begin to wonder about the role of media in this economic affair.  A trip to Oxford Street on Saturday recently had me confused about what a loss in a consumer confidence looks like.  It can't be crowds of shoppers squeezing into every available space and participating in 'who can carry the most bags' competitions can it?

Maybe we're still dining out on credit, or perhaps we've achieved the ultimate: retail therapy as a means to solve our economic anxieties.

Comments

[Dax]

Baron high streets? What next, Lord and honour? Is this another case of cash for honours or a typo?