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When it comes to the economy things are not as bad as they might seem. Well, maybe they could be worse. It seems there are two main trains of thought dominating headlines. The first being the usual credit crunch doom and gloom and the second being propagated by individuals who say that things really are not as dire as the statistics show.

One year on, a list of rights issues and troubled banks, news of redundancies and depressed city workers, why is it that we still cannot make up our minds if we are actually in trouble or not?

News from the CIPD - that while some employers have their "finger on the redundancy trigger," others see a light at the end of the tunnel - is just another affirmation of the absence of decision-making which exists.

Sure, it is all subjective, depending on whether you work for M&S or flog baked beans specials at Lidl, but how many of us know of at least one person who has been bitten by the redundancy dog? And who of us have not come across some form of cost-cutting from employers? The credit crunch is very real and dwelling in denial is not going to make it go away.