I've just seen on
Guido that Gordon has said the major economies are in a
depression. Sure, they're backpedalling like hell and saying it was a slip of the tongue (Freudian slip? dunno), but he can't say what's been said and now it's out there inevitably it's spreading through the world's media. I'm not qualified to judge whether this is a depression or a recession, but I'm damn sure of one thing - a lot of Labour MPs in marginal seats will be banging their heads on the table and wishing like hell that Gordon's mouth would just heal up.
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