Wednesday, Jan 30, 2008
A taste of things to come?
Youtube - World in Action: World in Action Part One
Brilliant programme.. there is also a part two & part three. This is the recession in the early 80's, combine this with an 1989-1992 style house price crash and you really can imagine how serious things will become in the next couple of years.
Posted by stevie dee @ 09:00 AM (388 views) Add Comment
3 Comments
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1. little professor said...
Thanks for this, very interesting.
Any links to programmes specifically about the late 80s/early 90s housing crash?
2. Stevie Dee said...
@ little professor.. many thanks.. i was looking youtube for world in action, in relation to the MP Michael Parris on benefits. The logic being, with so many unemployed shortly or as a cause of the impeding recession, surely the benefits currently enjoyed will not be the soft touch we have seen for the last 15-20 years.
3. drewster said...
Nice video. Bit long! It discusses unemployment in Birkenhead, where the closure of docks and shipbuilders in the 70s and 80s decimated local employment. People had to scavenge through rubbish tips to find sellable goods or even just basic needs.
Things will be slightly different this time. For one, the credit crunch should cause a general slowdown in all sectors and all parts of the country. Secondly, we are in a more internationally mobile world. The recent inward migration flows will likely reverse - either through Poles leaving or more Brits leaving for Germany / Australia / Dubai / or wherever the money is. In the video clip, one interviewee - very much a local - talks about considering going abroad to find work. If a shipbuilder from Birkenhead can consider emigrating then a city banker can easily do so too. This should soften the unemployment figures but increase the downward pressure on the housing market.