Reflections on recession

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Can you see the brick wall? | AccMan .

Dennis Howlett reports from ground level.

I share his impressions. Claims of green shoots suggest the real disconnect between the financial services sector and the rest of the economy.

And the fact that the cash put into quantitative easing (queasing as my friend Colin Hines calls it) is being used to finance speculation but nothing real, hence the increase in bank share prices.

Add to that the fact that banks are now recording profits by simply releasing previosuly made mark to market provisions and the recipe of false information as precursor to more problems is starting all over again.