So the technology stock crash in 2000/1 was not worldwide? Didn’t the 1997/8 Asian economic crisis and LTCM collapse have global repercussions, the ERM crisis in 1992 had currency volatility everywhere, Black Monday in 1987 was scary, the Latin American debt crisis in 80s… we have had them all the way back to 1929. All were global financial crises.
Gordon says the economy has “underlying strength”, which must be why August saw the lowest new car sales since Bobby Charlton lifted the World Cup. Oh, almost forgot: the Prime Mentalist is getting on with the job and making long term decisions as well.