Recession Looms as Tensions Rise in EU/ Rising price of hiring set to spur 'double recovery' in US
These two headlines give an indication of the contradictions that can be found in the Media. What to believe?
The first is from tne front page of The Times today 26th January 2012; the second headline from the inside pages of the Financial Times. It is clear which headline sells more papers.
So which gives the most accurate view? I am going to make a conscious effort not to listen to too much news. The Media love to dramatise but rarely give more than one side of the argument.
So, here goes for some positive thinking! Many companies that manufacture goods are reporting full order books. Companies are lean with good cash balances so that when recovery comes they may be able to start hiring more people.
Britain may not own any car companies but many cars are still manufactured here.
The European Crisis rumbles on without any clear leadership but the Euro is likely to survive. Despite all the turmoil is is still the second most favoured reserve currency.
Greece has already technically defaulted on its debt and may eventually leave the Eurozone. If this is managed successfully it does not have to be a disaster.
Europe needs to restructure to allow more flexibility. Since no country, except Luxembourg, met the Maastricht Treaty requirements at the start of the Euro it is unreasonable to expect this now.
The markets are in positive mood at the moment .
Just a few thoughts to start off 2012 in positive vein. Despite all else this is the year of the Olympics; only a country with the demeanor of the Brits could find the negative aspects of this. It is likley to boost building at least on infrastructure which must be good for the East end of London eventually.
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