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.

Some people harbour an awkward clash of feelings - homosexual attraction on the one hand and shame or embarrassment about that attraction on the other. It is well known that the mind struggles to sustain conflicting views.

Most people hugely underestimate the amount of 'empty space' we have in our country. Fly over the U.K., and you see that human settlement does not fill up the U.K. at all. It accounts for something of the order of 15 per cent of the landmass.

Even though disciplined sleeping habits and the adrenalin of live radio ensures that we are very awake while on duty, there is evidence of a phenomenon called circadian desynchronosis which causes one's brain to function slowly at those times of day when it thinks it should be asleep, regardless how wide awake the body is.

Britain, however, has ended up specializing in the ones you don't see as much of: defense aerospace, making drive shafts for cars, pills and drugs, designing chips that go into 94 percent of the world's mobile phones.

Once we are fed, heated, housed and healthy, our extra consumption inevitably has an element of luxury about it. And once luxury enters the scene, the practicalities are in trouble, as women who wear expensive stiletto heels can testify.

My instinct is to assume that we consumers are an inconsistent bunch. We like competition if it delivers low prices, but grumble if it delivers the bad news that prices need to go up.