247,000 jobs were lost in the United States during July, far less than analysts, the ‘experts’, predicted. Contrary to the previous month, where nearly half a million lost their jobs, far worse than foreseen. In addition, Deutsche Bank in Germany recorded a 67% increase in profits since last year. With Barclays bank being one of many UK banks to record improved profits of around £6 billion this year, things are seemingly, indeed looking brighter.

Since the start of this recession, unemployment in the UK has risen to exceed £3 million people, the highest for several decades. Put into perspective, that is 5% of the nations entire population including children and the elderly, so the figure is actually a lot higher. 19,000 shops have closed and high streets are looking especially glum, with large chains such as Woolworths being the highest profile cases.

Finally, after nearly a year of almost depression state across the global economy, things are taking a turn for the better. The quantitative easing method enforced by the UK labour government seem to have had the desired effect. Many people have received bonuses from unlikely employers, much to the criticism of some, most notably the case of Fred ‘The Shred’ Goodwin, former ‘top bod’ of Royal Bank Of Scotland in the UK. However, this is not to say that this spells the end of the tough times and job cutting; no, in fact, far from it. Chief Executive of RBS, predicts that it will be at least 5 more years before the group returns to acceptable profit levels, though they will see a dramatic increase in the time before then. This comes after they announced profits of sweet nothing last week. 

So, i think it’s fair to say we can see the beginnings of a smile, etched in to the face of our glorious mother earth, peace in the economy, it seems, will soon be restored and we’ll all own Ferrari’s before year’s end; well… we live in hope