The statement by Alistair Darling that we face the worst economic crisis for 60 years was not only utter crap, but irresponsible and stupid utter crap.
As Analote Kaletsky in The Times today illustrates rather well we're not even close to how bad it was in the 1970s. Back then, inflation was close to 30% (yes 30%), interest rates were about 15% and unemployment was over 2 million whilst today, just about every economic indicator is pretty benign with the exception of house prices (which are falling from what an over-inflated peak). Yes, the price of fuel has gone up sharply but it went up in multiples in the 70s and has already fallen some way back from its peak a couple of months ago.
... and that's before the petrol rationing, strikes, 3 day weeks and power cuts that were the norm then.
Oh, if he was talking globally as it being the worst times in the last 60 years he might have wanted to check out the latest US economic data which showed growth in the last quarter of 3.3%, almost twice what was predicted and a long long way from the recession type numbers expected a few months back.
Witless, utterly bloody witless. God know what he thinks he was doing.