economic banditry

16 Apr

John Band has an interesting post here.

He claims that, despite the almost-constant media doom-mongering, the sky is not falling in on the UK’s economy. He makes a few valid points about like-for-like sales against the actual takings on the high street: –

It’s partly due to misleading reporting, of course. Hands up who read this morning’s paper and came away with the take-out that UK retail sales fell when comparing March 2008 to March 2007? Wrong: they rose by 1.1%. The fall was in ‘like-for-like’ sales – i.e. new shops are opening faster than people are increasing their spending. That’s not great news if you’re a retailer, for sure – but it also for sure doesn’t mean that sales are falling…

These points are valid. Also, UK economic watchers have always concentrated too hard on high street performance – we’re a nation of shopkeepers after all, rather than on more indicative economic measures. People seem to think if M&S sells fewer pairs of panties, the country is going to the dogs.

Anyway, a somewhat related post over at LC has prompted an interesting thread between John, myself, and a few others in the comments. Take a look.


2 Responses to “economic banditry”

  1. April 16, 2008 at 5:41 pm #

    No the crash is still a year away.

  2. April 16, 2008 at 5:41 pm #

    No the crash is still a year away.

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