thats true, but they couldn't increase the money supply because the dollar was pegged to gold. Not so now - so it will probably be many years of crippling inflation. In the bankers and the governments eyes thats a better option than deflation (which will happen for a short time anyway before they massively increase the money supply to try and avert it).
The next and greatest Depression ever.
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thats true, but they couldn't increase the money supply because the dollar was pegged to gold. Not so now - so it will probably be many years of crippling inflation. In the bankers and the governments eyes thats a better option than deflation (which will happen for a short time anyway before they massively increase the money supply to try and avert it).
Recession = negative or negligible economic growth (usually measured by GDP) over two or more quarters. A deep recession can last for years but is easier to endure than a depression.
Depression = extreme form of recession accompanied by hyperinflation, massive devaluation of domestic currency, very high unemployment and lack of investment (to name just a few symptoms). The rule of thumb for a depression is a 10% drop in GDP.
Ta.
Can you give me tomorrows winning lotto numbers while you're here? I wouldn't want to miss out now that we have a soothsayer in our midst.
I hope you're right
The majority of us here haven't had to experience anything resembling a recession, never mind a depression. We can be forgiven for being a little worried.
As part of the UK, NI is currently in recession.
The recession of the early 1990s hit the UK and US pretty damn hard. I suspect that NI suffered considerably during that period.
So unless you're very, very young, you will have experienced a recession.
Sounds like a depression to me
Nah, we've got a long way to go before true depression kicks in. Loss of 10% GDP? Pffft. We're not even close.
Indeed, the government tried to replace transparancy and openness with regulation and state approval via licensing, and it simply hasn't worked.
At the moment we're still at least 4-6 months away from a technical recession, we haven't had one quarter of negative gdp growth yet, let alone two.
where is the proof?
Well the last quarters figures didn't show negative growth.
Personally this looks like it's got a big deep depression written all over it in the next 5 or so years unless something drastic happens to the banking system.
http://www.financialadvice.co.uk/news/12/ukeconomy/8051/0-GDP-growth-measured-by-government.html
No growth is not negative growth.
As part of the UK, NI is currently in recession.
The recession of the early 1990s hit the UK and US pretty damn hard. I suspect that NI suffered considerably during that period.
So unless you're very, very young, you will have experienced a recession.
I'm 29.
I would have been in my early teens in the early '90s, and tbh the recession didn't affect me first-hand at that age (not to mention that NI was starting to come out of its darkness during this time).
I'm not sure how much the current financial climate has affected us yet. The media may be telling us that we're in a bad situation, but i don't think that we're quite there yet. We will be tho.
UK economic growth ground to a halt between April and June, according to the latest official figures. The Office for National Statistics said the economy stalled, showing no growth from the first quarter of 2008.
It ends a run of more than 15 years of consecutive growth in the UK and will raise expectations of a rate cut.
The 0% growth figure was down from an earlier estimate of 0.2% and lower than the 0.3% growth recorded in the first three months of 2008.
Beeb.
Two consecutive quarters of negative or negligible growth; from 0.3% (first quarter) to 0.0% (second quarter).
Sure sounds like a recession to me.
And no employment is not negative employment. But they have the same effect.
A reduction is growth is not the same as negative growth, at least not in these terms.
GDP has not contracted, which is what is meant by negative growth, the rate of growth has slowed, but the numbers have not started going down yet.
I think we still have a way to go before that. I really dont think we will be seeing an economic depression.
[off topic] Why can I not view your item for sale in sig?