London (CNN) – Did London 2012 Olympic organizers scare off too many people?
It started to occur to me last week that I was getting seats on trains and buses at times that I shouldn’t. I had the fastest commute home in 22 years. I beat my best by ten minutes and now compare myself to a certain female swimmer.
Transport For London (TFL) warned us for years that there would be a 20% increase in travel during the Games and that certain stations would be "exceptionally busy."
London (CNN) – The British economy is shrinking far faster than expected. The latest figures - showing a 0.7% contraction - are a huge shock.
The rotten weather, extra days off for the Diamond Jubilee and contagion from the eurozone crisis have contributed: Now even UK Chancellor George Osborne is conceding the country has “deep-rooted economic problems.”
Jeremy Cook, chief economist at foreign exchange company World First, points to the eurozone’s hoovering up of government cash as one issue. Government spending is meant to be dropping but is instead increasing, he says. “We’ve said the situation would get worse before it gets better, anything worse than this and we are risking depression,” he warns.
Oh dear, what a gloomy picture. But at least London is hosting the Olympics, right? British Prime Minister David Cameron has declared the games in London will bring great spoils: Around $20 billion, we’re told. Banks, restaurants and retail outlets have staffed up, helping nudge unemployment to a nine-month low.
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