So You Think the Recession is Over?

Think again.

900 Jobs go at Bosch in Wales.  Thats a plant that builds alternators for cars (for the non-techie, the thing that charges up your battery) and despite the much-vaunted scrappage scheme, production hasn't recovered enough to save the factory.

There will be more high-profile closures, of that I have no doubt. I still see shops and offices closing on a daily basis. There are some parts of Portsmouth that are getting chillingly like the eighties, with a large proportion of empty shops.

Mark my words, this is not the end. We are still on the slope towards the abyss. It WILL happen. Thanks to Gordon Brown's profligacy there is no other course.