“Mistakes are nothing to be ashamed of.” — Evan Davis

Interest rate cuts have an effect in stimulating an economy by directly or indirectly making someone, somewhere, spend more than they otherwise would. That extra spending increases demand and ensures that we all carry on with work to do, without us having to slash our prices or our wrists.

We escaped the last big bursting of a bubble - the dotcom bubble - with a relatively light U.S. recession. On that occasion, the world economy found its way back on track fairly quickly.

The fact that radio is so hopeless at delivering data makes it an uncluttered medium, offering the basic story without the detailed trappings. But it does mean that if data is important, radio is probably not your place.

Even the 'Today' programme involves a balance between the worthy-but-heavy items with the worthless-but-entertainingly-light ones.