Despite the New Labour spin last week on "recovery" the data announced today show that every indicator is showing that everything is pointing down.

Even the markets tanked today - which is quite weird because they have not followed the indicators for three months.

The Double Dip recession is about to start because the fundamentals were never dealt with in the first dip. The problems still remain.

Dont believe the media about what is happening. Trust your own eyes on the High Street and talk to business owners about REAL sales - not about whether they hope or expect things to get better.

More businesses have collapsed where I live in London in the last 4 weeks then any other month since this began. The whole economy is tanking.....even China is in trouble. Germany and France are in a deeper recession than us - and so is the USA. Again the media is wrong about this. We still have some way to go.......

Bloomsberg is on Channel 502 on SKY - it is a free channel.