Has the world's economy recovered from the 2008 financial crisis?

[Ricochet J]

As title, or is the "crisis" still considered to be on going?

Just reading today's market news and it all seems doom and gloom.

 

[mid_gen]

Meh markets always have a heart attack whenever China's output has a hiccup. Wouldn't read to much into it other than a buy opportunity.

 

[CREATIVE!11]

Don't worry,

there will probably be another one in the near future. Banks it seems haven't learnt their lesson.

 

[mmj_uk]

Our current deficit is still treble what it was in 2007 so no, overall national debt has more than doubled under Tory austerity.

 

[Glaucus]

Different things.
The doom and gloom atm is China's growth below expectations. But their growth was always going to slow down at some point.

 

[thep02]

Not really.

 

[ReltonBFD]

No and yes , work wise busy busy literally jobs coming from everywhere and money is flowing again . But the China crash is next incoming and i can see that within 10years which fiscally is nothing

 

[Von Smallhausen]

Our current deficit is still treble what it was in 2007 so no, overall national debt has more than doubled under Tory austerity.

Not really surprising with a budget deficit of around 180 billion inherited from Labour.

 

[mattyfez]

Thing is that by the time we look like we've started to stabilise ourselves we'll be due for another financial crisis of some sort.. Knocking us back again.. So we'll be in perpetual recovery for some time as these things tend to work in cycles so true recovery this time around will probably be measured in generations rather than decades.

 

[dowie]

Different things.
The doom and gloom atm is China's growth below expectations. But their growth was always going to slow down at some point.

no its clearly the bankers' fault, something has gone wrong and its related to finance and stuff we must therefore blame bankers

 

[Deleted member 66701]

As title, or is the "crisis" still considered to be on going?

Just reading today's market news and it all seems doom and gloom.

2008 was just the tip of the iceberg - we'll see something much bigger in the next couple of years.

It might get better when those in charge realise austerity isn't helping - but I wouldn't hold your breath. The mega rich and corporations have a knack for weathering these storms.

 

[mmj_uk]

Not really surprising with a budget deficit of around 180 billion inherited from Labour.

I think you'll find that the Tory's were talking about matching Labour spending until the banks blew up the economy in 2008, the garbage about Labour running out of money is to deflect blame from the banks. It's like the old quote if you repeat a big lie often enough people will believe it. What's worrying as a democracy is how Labour don't seem to defend themselves and point out how it was the banks either, at their own expense.

http://news.bbc.co.uk/1/hi/uk_politics/6975536.stm

http://www.telegraph.co.uk/news/uknews/1562023/Tories-vow-to-match-Labour-spending.html

 

[anything I don't mind]

Absolutely not. All they did was make all the same mistakes again and this time it's even bigger problem. We are on the precipice of the largest economic correction in all of history. Sovereign debt, unfunded liabilities, massive malinvestment, massive property bubble, euro collapse. It's all going to get a lot worse before it gets better. The question is only when not if. The politicians have an incentive to do everything they can to kick the can down the road. So that it doesn't all fail on their watch.

 

[Bear]

I think you'll find that the Tory's were talking about matching Labour spending until the banks blew up the economy in 2008, the garbage about Labour running out of money is to deflect blame from the banks. It's like the old quote if you repeat a big lie often enough people will believe it. What's worrying as a democracy is how Labour don't seem to defend themselves and point out how it was the banks either, at their own expense.

http://news.bbc.co.uk/1/hi/uk_politics/6975536.stm

http://www.telegraph.co.uk/news/uknews/1562023/Tories-vow-to-match-Labour-spending.html

Who gives a flying one who's fault it is, the ******* point is the debt is bound to go up if you have a large deficit.

 

[V F]

Didn't China just write off several trillions?

Absolutely not. All they did was make all the same mistakes again and this time it's even bigger problem. We are on the precipice of the largest economic correction in all of history. Sovereign debt, unfunded liabilities, massive malinvestment, massive property bubble, euro collapse. It's all going to get a lot worse before it gets better. The question is only when not if. The politicians have an incentive to do everything they can to kick the can down the road. So that it doesn't all fail on their watch.

The mess that created the first depression is nothing to what we have now.

http://www.nationaldebtclocks.org

 

[jsmoke]

Absolutely not. All they did was make all the same mistakes again and this time it's even bigger problem. We are on the precipice of the largest economic correction in all of history. Sovereign debt, unfunded liabilities, massive malinvestment, massive property bubble, euro collapse. It's all going to get a lot worse before it gets better. The question is only when not if. The politicians have an incentive to do everything they can to kick the can down the road. So that it doesn't all fail on their watch.

Your getting a bit dramatic here no?

There hasn't really been that much money in the world since the 60's anyway.

As for our economy, it was propped up through Quantitative easing where the BOE bought debt back from companies who initially bought government bonds in the first place. That's the main reason we seem to be stable at the moment, essentially printing money and fiddling the books to pretend we haven't although it still has piled up our own debt which has to eventually be paid back by the tax payer. Well that's is you abide buy the 'laws' of money. I mean lets just write it all off like we did for half of Africa and start afresh.

As for the rest of the world, who knows, most depends on the demand for goods from the West. It's all a Ponzi scheme anyway, you have products to sell, I want to buy those products, we pay you money, you pile up lots of money, your money loses value over time due to inflation, you invest your money buying our bonds, we pile up more debt, we spend your/our money back to you. And on and on.

 

[V F]

Look at all the student/graduates debt... Let alone the number of graduates now taking basic jobs.

 

[StriderX]

China is a mild issue compared to the debt mountain that is brewing in the states with student loans... It's terrifying tbh.

 

[V F]

We aren't any different with our student loans. Graduates coming out with 30,000 - 55,000 debt...

 

[Sliver]

Tories have been Torying for over 5 years now and the only people feeling better financially are the rich and the very rich. They are still borrowing money, they still have an obscene deficit but the only places they seem willing to take money from are the public sector and welfare. So as usual, the poor suffer while the rich prosper. This will continue till the middle class get fed up and vote labour and then the party starts again. Rinse and repeat. That's politics in western democracies. The sooner the average Joe realises he's not going to be a millionaire in this world the better. Greed is why the Tory's keep getting in power and wrecking everything for the majority of it's people. Greed. If you're reading this and you've got your back up, angry and vitriolic and such, you're part of the problem.