The Recession is Over

It has gone unnoticed my many parts of the British press, but the recession has come to an end.

Manufacturing is rapidly reviving, with mothballed factories springing back to life as companies cracked up production for the second month in a row. The FTSE 100 of blue chip companies is closing close to the 5000 mark. Large scales mergers and take overs are happening again.

This is not to say that it is business as usual. It will take many more months, if not years for the economy to return to 2007 levels. But, make no mistake the recovery has started and the third quarter of this year will show positive economic growth.

So maybe it is time for the Daily Telegraph and the BBC to stop covering Cameron's laughable House of Commons "savings" and stop to look at the events that have contributed to this recovery. The bail out of the banks, the VAT cut, the quantitative easing and numerous other schemes that this embattled government bravely stuck to. And, it might also be worth examining the alternative path that would have been taken had a Tory government been in Number 10 and the awful repercussions that would have had.

It might never be known how close this country came to going to the wall in the winter of 08/09, but I am betting it wasn't far off.