An excellent meeting yesterday between Scottish MPs and representatives of Scottish Chambers of Commerce. Some genuine concerns expressed by business leaders, but also a realism and determination to succeed. One warned that we’re in danger of talking ourselves into a recession.
Then today, this, by Garland, appears in The Daily Telegraph:
Most economists don’t reckon the current downturn will develop into a recession. But recession is news. Even better: it’s bad news, which, for the likes of the Telegraph means good news (are you still with me?).
The champagne corks would be popping over at Conservative Central Office were recession to arrive, with any sign of growing unemployment and house repossessions seen as “a price worth paying” for an opportunity to issue a few smug news releases.
But recession isn’t around the corner, and the word should never be used as shorthand for any economic downturn. And newspapers – even those slavishly and nauseatingly loyal to the Conservative Party – should exercise a bit more restraint. After all, recessions hit newspaper advertising hard, and we would all hate to see the Telegraph go down the plug, wouldn’t we? I said, WOULDN’T WE?!