Wired Wessex

Starting with The Spectator, a writer ponders whether we actually need a good recession now and then, just to keep us on our toes. Guido Fawkes, meanwhile, reports that Alastair Darling might just have admitted that we’re now in one. Yay!

The Guardian follows with news that Mervyn King is cooking up “additional measures” to boost the economy. What they actually are is anyone’s guess. Also in need of help is the European car industry, which is in decline after losing a quarter of its sales last month.

Next, The Times reports that Royal Mail is about to be part-privatised, as the now infamous Bernard Madoff is hauled before the New York beaks after the collapse of his hedge fund.

The BBC says that inflation is down thanks to falling utility costs. Fed Reserve Chief Ben Bernanke is also about to cut US rates even further too.

Over at The Telegraph, the Pound has now nosedived past the Euro in value as the head of Asda predicts the rise of an altogether more tight-fisted and cautious consumer.

And finally, The Independent reports plunging sales for electrical retailers Comet as the beleaguered High Street loses ever more ground to e-retail.