Tuesday, February 3, 2009

What makes this recession so different

What makes this recession so different

Britain's snowstorms will soon clear, but the recession is here for the long term, says John Stepek. The sheer scale of bad investment, and the global nature of the slump means there's no easy way out, while the surge in government debt will stunt economic growth for years to come.

Posted by damien @ 12:01 PM (657 views)
Please complete the required fields.



3 thoughts on “What makes this recession so different

  • Can’t get the link to work so here is my tuppence worth.

    In the UK What makes this recession so different is:

    1. An over reliance on the financial services sector – They have seriously mismanaged their own business, lending to anyone, borrowing larger and larger amounts, buying into bad debts and paying themselves a kings ransom for buggering the whole thing up.
    2. Public debt – The largest of all developed countries – And Crash wants us to borrow more on top of this!
    3. People have payed about 50% more for their properties than they are actually worth.
    4. A complete t!t in charge who thinks he knows what he is doing.
    5. Half the population (of those available to work) no longer contribute to the tax system.
    6. Oh, and we no longer make/export very much that anyone wants especially in a recession.

    Reply
    Please complete the required fields.



  • fahrenheit451 says:

    Somebody really ought to call “Time Gentlemen Please”, we need an election.

    How GBH can keep going on about this wonderful new economic policy, is just unbelieveable. He attends a meeting with world leaders and stands alone, an island of one person, and claims that he knows best, is just cr4ss and stup1d. Basically he is proposing an extreem left wing policy, for an open market capitalist economy, it will never work.

    How about:
    1) Raise base rates to 4.5% – get the system working by itself.
    2) Drop all Income Tax bands by 2.5%, (really it has to be about 4.5%)
    Why does 4.5% keep coming up, just ask the Crystal Ball.
    3) Lower the National Debt – just as much as possible really.
    4) Reduce all government spending (by reducing wastage) by (oh what a surprise!) 4.5% !!!

    And hope for the best. It’ll work out soon enough, but better to end in a more positive position.

    Reply
    Please complete the required fields.



  • landofconfusion says:

    5) Call an early general election.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>