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WE’RE all economists now. That, along with a growing interest in religion and social responsibility seems to be one of the few benefits of the recession. Now, the only topic of conversation in bars and pubs the world over is not your local version of the TV show Big Brother in which a bunch of morons live in a house together until the blessed day when the last one emerges victorious into a world of cheap celebrity.

Oh no, now we all have an informed opinion on world economics. The man in the street can be heard espousing on the China effect and thanks to the BBC’s Robert Peston some people even seem to know what the Baltic Dry Index is! Today, an acquaintance sagely suggested that we are going through a bath tub recession – a long sustained u-shaped one with a series of ups and downs along the way.

Not a bad description probably and one that legendary GE CEO Jack Welch used last September when he predicted that we would be deep into the second half of 2009 before we start to come out of this particular bath.

Everybody you talk to lately seems to have a more positive air about them, but are we simply experiencing one of those little ups or are we getting out of the bath? We think it’s probably the former, but it’s better than nothing. Lie back and have a soak.

For all you HR and CEO types out there (actually, you’re probably on holiday) Jack Welch went on to say that there is an opportunity for business leaders amid the bad news. "Take care of your best people. Put a little pot of money aside for them because some of your best people – the top 20 percent of talent – will likely miss their numbers, but this is not a time to lose your best soldiers. You will need them when for the next fight when you emerge on the other side." Quite right Mr.W. Someone should give you a job.

Oh, and if your dad is one of those embarrassing dancers at family weddings, check this out:

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