Sunday, October 5, 2008

Depression of 2008

Back To The Future

A step back in time to take a look at what might come. The article may even be compiled from some of the archives on this site.

Posted by yoyo1 @ 10:08 AM (2920 views)
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3 thoughts on “Depression of 2008

  • mark wadsworth says:

    Is time travel back in fashion, inspired by the pioneering work of Fionalulu Earley?

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  • Good read. Will we have 1/3 off house prices (inc inflation) because the bailout works or far more off because we run into depression ?

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  • Shows the Times can publish worthwhile articles on economics – usually when we are not being offered opinions by journalists most kindly described as lightweight. It would seem no one knows whether we are entering a depression or how long a recession of any kind might last. The issue of withdrawal of credit seems to be rather academic.The heart of the matter strikes me as the wasteful expenditure of future earnings (long into the future), the proceeds of which have lost real value (not just in monetary terms), notably the decaying houses in America and the unmaintained new blocks of flats here. This wealth destruction cannot be undone. Wealth has to be rebuilt by work. Hence a long slump would seem likely, just as with Japan.

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