Friday, October 23, 2009

Are we depressed?

This recession just became a depression

"The National Institute for Economic and Social Research has been calling this a “depression” rather than a recession for some time – these figures surely now underline such a description."

Posted by letthemfall @ 04:55 PM (1797 views)
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14 thoughts on “Are we depressed?

  • Have your nitrous oxide and prozak at the ready Gordon.

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  • And this despite the Pound being 25% down against the Euro since the crisis began. (Even worse if you look at it the other way around: the Euro is up 33% against the Pound!)

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  • When you actually talk to people on one to one basis it is amazing how many people they know who are actually under consultation or are in the fear of redundancy. A good many others are working short time, especially those who are hourly paid as well as the self employed and retired who are rapidly eating into their savings/investments as they try to keep their heads above water.

    I am also witnessing the rapid spread in numbers of over 65 engineers who are carrying on working part time because they cannot afford to retire on their fragmented pensions thanks to the industrial decimation of this country over the last 25 years, one even celebrated his 70th birthday in our office this week!

    We truly are entering a new economic and social era in this country and many will shortly not be able to cope with it and they all know who they are going to blame.

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  • A depression whilst house prices recover to their record levels! Something must give soon. Make sure your bets are hedged!

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  • cat and canary says:

    ..I think you´re a closet-bear smugdog 🙂

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  • 4. smugdog

    You appear to be posting from a very high pedestal.

    Some friendly advise. Unless that imaginary platform you are stood upon is as high as it can possibly be, you will be shaft3d along with

    everyone else. I would advise you to make the necessary plans. The top dogs will have no mercy when it comes to their true pay day

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  • 4. smugdog

    May I refer you to 2 verses of the famous Kenny Rogers song Gambler.

    You got to know when to hold em, know when to fold em,
    Know when to walk away and know when to run.
    You never count your money when youre sittin at the table.
    Therell be time enough for countin when the dealins done.

    Now every gambler knows that the secret to survivin
    Is knowin what to throw away and knowing what to keep.
    cause every hands a winner and every hands a loser,
    And the best that you can hope for is to die in your sleep.

    Good luck!

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  • C&C, folk on Dogs Island seem to have had an easy time of late, what with “make any bets you like and I will carry the tab” Gordon at your side. I however trust and abide by my own judgement. I believe that the clouds have been blown away too too easily and the sunshine will not last for long. This I have factored in to my judgement. Bears, Bulls, Leopards, spots. I am whatever I choose to be to suit the conditions I work in.
    Crunchy, I doubt that you would give “friendly” advise to anyone, imagine all you like! But rest assured, necessary plans are very much in place. A moving market is all I require.
    Next Time in East India, I will call in C&C.

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  • 8. smugdog said…Crunchy, I doubt that you would give “friendly” advise to anyone,

    My friendly advise always seems unfriendly.

    You’ve got to be cruel to be kind.

    Most people just want the ice cream and to hell with the cone, but the cone is where it’s all at.

    Good luck with whatever you do. I will say that to everyone here, because the next few years are going to test us all the the limits.

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  • “Bears, Bulls, Leopards, spots. I am whatever I choose to be”

    Yeah, you appear confused. I’m not able to make much of your posts.

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  • Do give me your insight into todays market Rumble? I make much of many posts on this site. But you, do tell?

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  • Zzzzzzzzzzzz where has your spirit gone? Where have all the beautiful people gone? Where has S2R1 gone to?
    See you for a beer in Brodies later C&C.

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  • gone-to-colombia says:

    I am as certain as ever, the road down might not be straight, but it’s down all the same.

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