M&S slump in sales... ERGO It's a recession
09/01/08 19:32 Filed in: Personal
BBC, ITV, Channel 4. Simply story, it appears that Marks and Spencers sales we're about 2.5% down, their share prices dropped 17%... Conclusion.
WE ARE IN RECESSION.
Is it me, or is that a bit of a step too far.
They keep talking about $100 a barrel, which I covered in a previous posting. It's the dollar that's devalued, not oil that's got more expensive. Quite why Brent Crude, traded in the INCREASEING Euro is more expensive, is anyones guess.
You can't help but wonder whether there is a need for a recession.
WE ARE IN RECESSION.
Is it me, or is that a bit of a step too far.
They keep talking about $100 a barrel, which I covered in a previous posting. It's the dollar that's devalued, not oil that's got more expensive. Quite why Brent Crude, traded in the INCREASEING Euro is more expensive, is anyones guess.
You can't help but wonder whether there is a need for a recession.