the obvious depression on the streets of London, turn to
blaming the Queen- she of broad shoulders. She called
for the extra holiday last year so her grandson, who
does not look inbred, could get married to his breast,
I mean best friend, Kate Legs-till-Tuesday Mosquito tits.
Sorry, that was two years ago. Her diamond jubilee
was the excuse for last year. I wonder how the royals
will be called upon, this summer:
- to save the public from exhaustion and depression by
giving them a proper day off.
-to be made the scapegoat for yet another summer of
negative growth.
How's that for an excuse? The people were so surprised to
have the day off they just wasted it getting drunk. that
should have helped GDP, which is all about shopping
these days, anyway. What a con GDP is , anyway.
Checkit: The Guardian
Double-dip
recession could have been a 'statistical error', ONS says
Office
for National Statistics says that the trend in economic output was 'best described as flat'
Heather Stewart and Phillip Inman
Wednesday 1 May 2013 19.12
BST
The
Office for National Statistics has paved the way for erasing Britain's
double-dip recession from the history books, arguing in an article on Wednesday
that the state of the economy since autumn 2010 is better described as
"flat".
The
standard definition of a recession is two consecutive quarters of negative GDP growth,
and the ONS's current estimates show
nine months of consistent decline, starting in the final quarter of 2011.
But
with revised GDP figures for the last few years due to be published on 27 June,
the ONS used its latest Economic Review to point out that two of the relevant
quarters saw just a 0.1% fall, and the third – April to June 2012 – was distorted by the extra bank holiday for
the Queen's diamond jubilee.
"When growth is very weak, the difference
between, say, estimated growth of 0.1% and -0.1% in a quarter is actually within
the statistical margin of error," the ONS said. "Rather than relying on small changes in
quarterly growth rates to justify calling a recession,
we should consider the growth rate of the economy over a longer period".
