For those who can't remember the 1970s.....

For those who can't remember the 1970s, although they were there (and for those that weren't), this was also a time of global recession. Please consult the following link : http://nytimes.com/2009/02/28/business/economy/28charts.html

My guess is that the 2000's recession (as it is now being called) is a compound of early 1990s and 1970s recessionary ingredients, including the inevitable squeeze on public finances, but with rather more uncertainty about causal factors, including "media" and, therefore, remedial action.

With regard to our own country, some may remember that the 1970s was a time of the so-called "British Disease" : a general malaise of which one measure was low economic productivity. This, of course, begs the question : is there a "New British Disease" ?

Many people, I suspect, would agree that there is a "New British Disease" which might be summed up thus : "I/We have a (personal, domestic, social etc) problem, therefore I/We am/are...". The question is do we need another Mrs Thatcher to put ourselves together again ?