Gerald Warner: We are heading for a recession

As economic news darkens by the week, some experts insist Scotland can remain immune. And yet, writes Gerald Warner, our heavy reliance on the public sector bodes ill if the going gets tough Published Date: 06 July 2008 'WE'RE a' doomed!" That is the chorus of the Jeremiahs who are currently predicting economic slowdown will lead to recession and, beyond that, total meltdown and the end of civilisation as we know it. A local, more reedy descant is singing a slightly different tune – "They're a' doomed!" – in the conviction that Scotland may weather the storm while the rest of the UK succumbs. The reality is that economic prediction, for all its solemn rubrics and liturgy, is ultimately as unreliable as speculation on the turf or the dog track. In any case, the extravagantly conflicting views of forecasters guarantee that,... [read full story]