The 1990's recession which caused >3m unemployed and saw several large airlines go bust in the UK lasted for 2 quarters. This one is started in the last 2 quarters of 2008 and is still running now... Its already a much bigger and longer lasting recession than we have seen for three generations. And that's if it ended today.
With interest rates held where they are and £150,000,000,000 of newly printed money being pumped into the system I'd be amazed if the recession didn't end soon. But don't think that means everything goes back to normal. The bombing may have stopped but the city is still in ruins..
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