Absolutely agree Lloyd. However, I believe (or at the very least, hope) that the Olympics will have a real lasting legacy for Great Britain. London 2012 and Beijing 2008 have shown that we know how to not only win again, but to do so with good grace and style. Team GB are soundly beating all those countries that have previously been held up as sporting giants e.g. Australia, Russia, Germany (East & West) etc.
It is my experience that the "recession" is nowhere near as bad as the media would have us believe and that all we really need is to feel good about ourselves again and to regain our confidence. If the Olympics help in any small way towards that, then they have been worth every penny in my view.