Two articles, both published today in two of the world's most august organs, each reaching dramatically different conclusions on the prospective state of the British economy and the implications of the recent drop in the value of sterling:
International Herald Tribune - "Britain, like Iceland, in big trouble"
The Times - "Pound's fall may herald recovery not doom"
On days like today it strikes me that economists can use "the facts" to reach whatever conclusions they choose! Although having said that, I do respect Anatole Kaletsky's work, and he was spot on in predicting that the the UK government would be forced to offer to take stakes in all banks bar HSBC. So, I hope he's right on this one too.
