Sunday, Oct 26, 2008
All hail the experts!!!
The Telegraph: UK recession is here to stay, experts warn
US President Harry Truman’s comments of 50 years’ ago: “It’s a recession when your neighbour loses his job; it’s a depression when you lose yours.” .............
Posted by titaniccaptain @ 08:40 PM (498 views) Add Comment
5 Comments
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1. enuii said...
Contains some revealing snippets of information:-
'Volvo said orders of its heavy trucks had fallen from 42,000 in the third quarter last year to just 115 in the same period in 2008' - WTF
'One harrowing reality from the financial crisis thus far is that it has been only the pessimists who have predicted the future with any success' - Thanks, but it would have been nicer all round if we were wrong.
'With $2 sterling still fresh in the mind for many British people, the pound’s decline has been breathtaking. The UK currency has lost a quarter of its value over the past year — eclipsing the slumps of 1967, 1975 and Black Wednesday in 1992.' - Should read the pound is going down like the Titanic.
'Beer sales have fallen victim to the credit crunch with 1.8m fewer pints sold every day as recession looms.' - So some folks can't even afford to drown their sorrows anymore!
Just remember, “It’s a recession when your neighbour loses his job; it’s a depression when you lose yours.”
2. Fjcruiser said...
and with so much political instability around us, things are not looking pretty. Next a run on the banks I think.
3. plato said...
Get used to it folks. Divide everything you have or do by 10 and that is how we shall all be living. That is 'Prudence.'
4. planning4acrash said...
These things were once called a "panics and collapse", but political correctness transmutated them into depressions, and then recessions, once the word depression became politically uncorrect. Are we headed towards having a panic and collapse in 2020?!
5. planning4acrash said...
Plato, its theft. This whole thing is theft. We have a predatory currency system where the big boys print funny money to aquire our real assets, then they crash the value of the funny money, declare us bankrupt and take our stuff by force. As the good Libertarian would say, there is no distinction between the common criminal and the parasitical government.