Is this actually turning into a Depression?

mirry

Apparently on the news today they are to announce/confirm that we are now in Reccession ( like we didnt already know that) .
Which makes me wonder if its worse than they say? Last night we went into town and omg it was a ghost town, shops closed down and the others with signs up saying 70% off.

Looks very bad .

harryhound

incesticde wrote: »

S

If you passed a law saying people got three months benefit, and after that if you haven't found a job after that you're getting nowt, this would mobilise people into trying to find a job.

Isn't this the system they have in USA - food stamps anyone?

(We have a similar system here for for a minority of our population. Seems there is some 600 million our government spends looking after illegal immigrants, refusing to let them work, while trying (pretending?) and failing to send them "home" to countries that don't want them.).

Perhaps the clever people in society have created a world so complex and automated that there is:

"NO WAGE at which a labourer can work and compete with a steam shovel"

I think that quotation originates from 1896 or there about. (anyone know the source)?

I have a nasty feeling that there are perhaps a billion people in this world who, economically speaking, are a "waste of space" from birth to death?

RainMaker_2

mirry wrote: »

Apparently on the news today they are to announce/confirm that we are now in Reccession ( like we didnt already know that) .
Which makes me wonder if its worse than they say? Last night we went into town and omg it was a ghost town, shops closed down and the others with signs up saying 70% off.

Looks very bad .

Just announced - Q4 GDP dropped 1.5% ! If it's not going to be a depression it'll be a bloody bad recession !

feeta

Yes, weather it's a recession or a depression, things are still looking pretty bleak.

But lets hope we're all wrong and things are going to all turn out rosey!