Mr.Clegg Lib/Dems says they will bounce back- Is he referring to the modern phrase the 'Dead Cat Bounce'?

The, "Dead Cat Bounce" is a current phrase in England? Colorful.I don't think a dead cat would literally bounce; they'd just thud and plop when dropped.In the USA we use an expression that is something like, a cat always lands on its feet when it takes a fall.For granted...not a dead one. I'll come back here to learn. Thank you.