Why there will be no real recovery from this recession

[AtW]

As in all things, if you reduce the price then it would boost demand. It works for labour in the same way it works for spuds and televisions.

So what average annual salary in your view should be for workers in this country compared to say India/China, do you think it is possible to live in this country on £5-7k per year given that all other prices stay the same?

[AtW]

This is a good thing (reduced costs to consumers, increased standards and quality, etc)

It's not good in a long term - at some point (which is nearly reached) too many don't have jobs and even more have non-jobs: a lot of "cheap" things are actually expensive because they are of poor quality - they don't last long, I bought some shoes last year and they were tuliped in a few months, where as before I had good pair that lasted 10 years, so actually over long period of time those "cheap" products would cost more.

IMHO there should be a legal requirement to show TCO over X years for most products: this way those who make quality stuff will be rewarded and won't lose out due to much cheaper but poor quality (in a long term not looks at purchase time) goods.

[HairyArsedBloke]

You are roughly in the 'right' area. Prices of a wide range of items would also deflate too simply because there would not be the ability for the market to support higher prices.

I am not saying that I like the idea, but that is what I think the prospect is.

[AtW]

People will buy less frequently and goods will last more - this would have knock on effect on raw materials, less will be required so prices will come down.

[d000hg]

There are plenty of jobs. More than enough to absorb all those currently on welfare that want to/should be working and all those being displaced from their public sector jobs.

Unfortunately the jobs are currently being done by others from outside the UK.

Really? Are you including bona fide immigrants, or only offshored work and offshore workers in the UK? I suppose big companies might be hiring a million or two Bobs, but the unemployed are the unemployed dregs and the work they can do (manual work or whatever) can't be offshored.

[Lockhouse]

The problem is just too many people. If everybody only had one child, problem solved.

[HairyArsedBloke]

The problem is just too many people. If everybody only had one child, problem solved.

Just who are you going to tax to pay your pension then?

[Lockhouse]

Just who are you going to tax to pay your pension then?

A necessary sacrifice. A bit of hardship now or the end of civilisation later.

[shaunbhoy]

Euthenasia.........voluntary or otherwise. Has to happen. You heard it here first.

[doodab]

You are roughly in the 'right' area. Prices of a wide range of items would also deflate too simply because there would not be the ability for the market to support higher prices.

I am not saying that I like the idea, but that is what I think the prospect is.

I'm inclined to agree.

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