‘How to avoid the gloom’ - Don’t read anything for the next two years.

No sooner had I posted about excitable facts and figures from the media than the Times writes breathlessly about the predictions from JPMorgans of 40,000 job losses in the city. They claim the figures are a ‘hammer blow’ to the government. Really? A ‘hammer blow’ on the same day we find out a near identical number of people found work in the last month? So basically, this hammer blow would consist of the same amount of people losing their jobs as people gaining jobs in the last three months, leaving us roughly where we started at the end of 2007.