England Joins the Party

As if they needed an official report, today the British press announced that their country is "officially" in a recession. It seems our friends across the pond are in even worse shape than the United States. According to the report, the value of the pound is at a 23-year low, unemployment is at 6.1 percent and the government is bailing out banks left and right. In fact the British Government now has a 70 percent stake in the Royal Bank of Scotland, which is controlling interest in the financial giant. It seems the United States is not alone in its financial woes.

http://news.yahoo.com/s/mcclatchy/20090123/wl_mcclatchy/3152148