Man in a Shed: "The green shoots of recovery" in Woking

Wednesday, January 14, 2009

"The green shoots of recovery" in Woking - not

Zavvi in Woking - the staff have just been let go and the shutters drawn down today.
Woolworths now just a memory.

Whittards in Woking is closing - despite the venture capital buy out. I tried to order my last ground coffee, but they couldn't fill a 250g bag, and then couldn't fill a 125g bag. That's it for good coffee at home.A card shop that closed and then had a temporary Calendar shop.

All these gaps have appeared in the last two weeks in the prime area of the main shopping centre. And finally Marks and Spencer the local press reports that the branch of Marks & Spencer is to close. The staff say they are in the consultation phase - the modern waiting room for redundancy.

No sign of "green shots" yet !

PS I leave out Adams as their store appears to still be trading.

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The pound in your pocket

"We used to think that you could spend your way out of a recession and increase employment by cutting taxes and boosting government spending. I tell you in all candour that that option no longer exists." James Callaghan

“The trouble with theoretical economists is that they don't understand that when you have a deficit, you can only finance it by borrowing, and you've got to persuade people that it's worth lending money to you and that they'll get their money back... there's no way of escaping it.” Dennis Healey during the 1976 Stirling Crisis.

"Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens ... Lenin was certainly right. There is no subtler, no surer means of over-turning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose." John Maynard Keynes, 1920.

"To preserve [the people's] independence, we must not let our rulers load us with perpetual debt. We must make our selection between economy and liberty, or profusion and servitude." Thomas Jefferson, President of the United States of America,1801-1809.

Inflation is taxation without legislation .. Milton Friedman