Heading for a Depression

[BlasterBates]

depression

depression

This is it guys....looks like the big one.

[Cliphead]

depression

depression

This is it guys....looks like the big one.

Never mind, people need entertained regardless of the state of the economy, never been so busy with gigs. Musicians will always survive

[PM-Junkie]

depression

depression

This is it guys....looks like the big one.

Still haven't topped yourself then? It must be close...surely?

[MPwannadecentincome]

time to stop reading the news sites, the papers, the economist and to stop watching the news.

We can then be free of the depressing economy, middle east, the third runway etc and might feel a bit more positive.......

[threaded]

Never mind, people need entertained regardless of the state of the economy, never been so busy with gigs. Musicians will always survive

True. Never knew there was so much call for a Church Organist, and now I'm at it nearly every Sunday, sometimes 4 services, and as many evenings in the week as I want. The money's pretty good too, and I'm a part-timer. The proper fastansat organists are on a surprisingly good whack.

[PM-Junkie]

time to stop reading the news sites, the papers, the economist and to stop watching the news.

We can then be free of the depressing economy, middle east, the third runway etc and might feel a bit more positive.......

Actually, there are benefits to a recession - and a lot of economists think they are a vital part of a consumer-led economy, even if they are a painful process to go through. This one in particular.

Off the top of my head for example...

• Despite some people shouting it for years, everyone now realises the banking system needs fixing - and watching a lot more closely in the future.
• People have cottoned on to the fact that saving is a good idea.
• Dumb lending practices will hopefully be a thing of the past.
• The rampant and crazy consumerism has stopped - as it had to sooner or later. People will again start distinguishing between "want" and "need".
• Politicians are at last getting the message that relying totally on the service sector is not a good idea - it is wise to have a healthy manufacturing sector too.
• There is a theory that recessions are good for your health - http://www.usatoday.com/money/jobcen...ecession_x.htm
• Better spending opportunities - there is a theory that we will look back on 2009 as a golden year for shopping, since prices are coming down and there are lots of bargains to be had. This is likely to continue for some months, and since unemployment is expected to reach 10% at the most, for 90% of us this could be an opportunity to get what we need a lot cheaper than we might have thought.
• More innovation - companies are always born in recessions from people losing jobs and starting up on their own. Some of these will be a success, a small number will be a great success and provide new opportunities for others. It always happens.

So I don't agree that it is all doom and gloom despite some people appearing to love wallowing in it. The way modern economies are run, recessions are needed from time to time to give people a slap back to reality.

[Sysman]

It all started with Thatcher, apparently.

Linky (from Mar 11, 2008)