When is Bush finally going to admit the world economy is slowing down in to a rescession?
he has avoided using the word recession but evidence tells us that the world economies is slowing down especially in the mortgage sector. In the UK the Northern Rock had to get an emergency loan from the bank of England and the government I believe Northern Rock has now been nationalised. Now in the States Bear Stearn was bought over for a fraction of what it was worth. Can’t Mr. Bush see now that the US economy and the UK economy and other economies around is slowing down into what the UK comentators are calling a credit crunch we are now all feeling the pinch food prices going up heating prices going up gas prices going up making it more expensive to run our cars. Will Mr. Bush now admit the economy is slowing down into a recession?