So the economy is in a slump and inflation continues to rise in the UK, as the spectre of a recession looms for not only this country, but the whole world.
However, one thing has made me smile. Since Gordon Brown handed over responsibility for inflation and many other aspects of the economy, it has been up to Mervyn King, Governor of the Bank of England to report on how things are going.
And, one of the things he agreed to was that if inflation starts to rise, he has to, whisper it quietly, write a letter to Gordon Brown explaining himself.
You can imagine the scenes in the Merv’s office over the past few months, can’t you?
‘Oh shit, inflation’s taken a turn for the worse again. Quick, get the typewriter out and take a letter, Miss Jones!’