Wednesday, Nov 21, 2007
Distrubing common signs
BBC News: What caused Japans recession?
Worried? you bet.
This report shares a lot of what is happening now with what happened to Japan - and they are STILL suffering. It's only unemployment that is different - or is it? maybe the figures we see aren't all we should believe?
Posted by steve neale @ 08:52 AM (744 views) Add Comment
7 Comments
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1. wiltshire said...
Haven't most of the UKs unemployed simply been hidden under the heading 'Incapacity Benefit'?
2. japanese uncle said...
BBC certainly cannot afford to indulge in an objectve critical analysis of an economy still in the after effect of the collapse of the property bubble, as UK is most likely to be hit even harder with GBP1.3 trillion personal debt, which never was an issue in the case of Japan where massive personal savings well offset the debt. UK economy has barely a shock absorber, as if someone jumping from the London Eye with an umbrella. Also there never was a bank run in Japan even in the gloomiest of its days. Global investors are now watching UK as an economy embracing a potential volatile enough to allow a bank run to happen. When they withdraw investment not least from her property market, what would follow? No boom at all is better than any boom induced by property speculation, as it alwas ends in a misery beyond description.
3. japanese uncle said...
Supplement the above with this sentence.
And only the trickiest who can afford to cunningly maneuvre will benefit.
4. bidin'matime said...
Coming to an economy near you soon...
5. dbnazz1 said...
MAYBE the figures..............
Only MAYBE. The unemployment figures are MOST CERTAINLY FIDDLED. I think most of them are now classified as being registeredincapacity benefit. The Tories pick up on this every time Labour shout from the roof top that unemploment is down again. unfortunately the Tories don't press home there point regarding the unemployment figures and so labour end up being let off the hook.
6. cornishman said...
@dbnazz1
The reason the Tories can't make too much of the unemployment figures is because the wheeze of putting most of the unemployed onto the disability register was a Tory idea in the first place - so that they could claim the unemployment numbers were falling about 12 years ago.
7. tick tock said...
dbnazz,
Maybe because it was the Tories who first introduced these fiddles to mask unemployment figures, and that they know that (almost) everybody knows this?