Thursday, November 27, 2008

“The crisis may not end in 2009,” he said.

China economic downturn deepens

ArcelorMittal, the world's largest steelmaker, said it was likely to start short-time working and cut production at its German steel plants in December. Two of Britain's most high profile retailers DSG and Kingfisher underlined the severity of the economic slowdown with downbeat results and gloomy outlooks, while variety story group Woolworths went into administration. Britain's retailers face a brutal downturn in consumer spending, amid sliding house prices and rising unemployment

Posted by mark @ 12:50 PM (715 views)
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4 thoughts on ““The crisis may not end in 2009,” he said.

  • the mad rapper says:

    Of course this crisis won’t end in 2009! I am growing sick of these ridiculous time-scales being bandied around in the press, utterly wishful thinking on their part!

    The truth is that no-one has any idea when the recession will end, but given that it has taken over 10 years for the bubble to grow before popping, why assume it’ll be all over by next year and we can all go for tea and cakes? Plain nonsense, I believe things will get far worse before they get better, we haven’t got anywhere close to the bottom yet.

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  • Hear, hear!

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  • Agreed!

    Look at the “lost decade” in Japan.

    12-18 months my arshe!

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  • Really you’ve only got read these articles on a regular basis and they are incredibly varying and contradictory. Mainstream tend to go with flow and then over the top for a bit of drama induced sales momentum, stopping at the line drawn by their political leaning. They catch on to what becomes obvious and undeniable then make the most of it and out of it.
    Unfortunately the general populace are unable(due to educational reasons)to distinguish realism from fantasy unlike as for example ‘the mad rapper’ above who clearly does. Yet life is governed by that which the majority willingly accepts……. and so it is very easy for those leaders without a genuine social conscience to manipulate the fantasies of the majority.

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