Friday, February 6, 2009
Its not good
Analysis: what's a depression and is this one?
This year ALONE will reach: 9% unemployment (official) - currently hidden in gov stats 20% of people of working age unemployed 2.8% contraction in GDP - remember things have to grow exponentially in our finance system to pay the bankers their interest 17% collapse in house prices 33% fall in FTSE 30's Britain - 1930 to 1934 15% unemployment 5% contraction in GDP 40% fall in FTSE
Posted by matt_the_hat @ 08:08 AM (1674 views)
One thought on “Its not good”
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shining wit says:
A depression is a recession that is deeper and bigger than anyone has seen…. In my opinion if our econmy shrinks by more than 10% – That’s a depression. so if we extrapolate the figures matt quotes above for another year then were there.
Unless of course, those figures are wrong and it’s worse….we could get their sooner…..