Not one to make wild claims, at the start of the recession Gordon Brown said that Britain was best placed both to withstand a global downturn and to lead the world out of its slump. Being the Chancellor for a decade and having a good idea what state the countries finances were, most of us had no reason to disbelieve him. Us fools.
The United States has become the fourth G7 country after Germany, Japan and France to emerge from recession while we enter an unprecedented six straight quarter of falling output.
The majority of economists, financial experts and the Chancellor all predicted a GDP rise last week only to see a -0.4% fall turning instead.
The economy is now almost six per cent smaller than it was before the start of the downturn, meaning Britain is creating £90bn less per year than 18 months ago.
The same economists, financial experts and Chancellor who were upbeat about everything days ago, were said to be amazed and shocked by these figures.
The simple translation must be that haven't had a clue what's been going on since the start and they don't have any idea how to fix it. And these guys are the experts!
They shouldn't be trusted with a weather forecast, let alone an economic one.