Sshh! Don't mention the 'R' word

Last Modified: 22 Jan 2008
By: Newsroom blogger

Inside the morning news meeting...

The fall out from the share price plunge - the biggest one day fall since 9/11 - continues.

Is the rest of the world next? And does anyone want to admit it?

"Suddenly Bush going to Saudi Arabia last week begging for the price of oil to come down adds up. His advisors knew this was coming."

It's Oscar nominations day, but it appears the stars of the silver screen are suffering from their own 'credits crunch'.

"It appears to might be back to square one again. It seems like people were quick to under-estimate the power and influence of America, but even the Chinese markets were down overnight - so it does still have a world-wide impact."

"It is worth looking at whether the UK is heading towards a similar recession. The trouble is that over here no-one wants to be the first to say it.

"However, there are lots of indicators which suggest the UK won't be as badly hit as the US."

A suggestion is made for our very own Jon Snow is get in touch with the former US Treasury secretary of the same name, to see if he'll be guest in a discussion tonight.

"I think that one will be return to sender."

It's Oscar nominations day, but it appears the stars of the silver screen are suffering from their own 'credits crunch'.

"The writers' strike is really kicking in, and lots of the studios are cancelling work. It is looking pretty grim for Hollywood."

"At least that's something to cheer out viewers up!"

The Ipswich 'ripper' trial continues today, so a good new line may emerge today, while a leak of the casinos report seems to suggest that Manchester will lose its planned super-casinos - while the smaller venues will be allowed to go ahead.