Y

(By Richard Holway 12.00pm 29th Apr 09) As readers know (indeed I have had much feedback) I have been pondering seriously whether the current economic downturn is U or L shaped.

So, on a more light-hearted note, I was intrigued by the article in the FT yesterday which suggested we Take comfort in a Y-front recession.

I quote: "According to Debenhams, sales of Y-fronts have risen by 35 per cent since the downturn began, overtaking boxer shorts for the first time since the 1990s recession – attributed to the “greater sense of security” they provide. Instead of worrying about whether this will be a U-, L- or W-shaped recession, we can call it the Y-front recession."

Sorry to bring a note of levity into such a serious discussion!