Brown & global 'depression'?

Zagu

PM's 'depression' claim queried


The Conservatives have called on Gordon Brown to clarify his remarks suggesting the world was in a depression.

At prime minister's questions he told MPs: "We should agree as a world on a monetary and fiscal stimulus that will take the world out of re.. depression."
The Tories urged him to clarify whether it was a "slip of the tongue" and said the PM should be careful with language.

Mr Brown and Tory leader David Cameron also clashed over the PM's "British jobs for British workers" pledge. Speaking after prime minister's questions, shadow chancellor George Osborne said: "The prime minister must personally and urgently clarify whether his statement today that the world is in 'depression' was a slip of the tongue, or whether he knows something that we don't know.

"For the sake of confidence he should clear up this confusion. Prime ministers in particular need to be very careful about their use of language to ensure they don't undermined confidence."

First "Save the World" and now this.

slipthru

I thought the fact that we could possibly go into a depressio n was a given.

Certainly something that most of us were aware of last year.

Conflict

slipthru wrote: »

I thought the fact that we could possibly go into a depressio n was a given.

Certainly something that most of us were aware of last year.

Yes but he is saying we are already in a global depression, which is a controvorsal statement - although the industrial output / manufacturing figures that have been coming out around the world do support the view that the world is already in a depresssion, just GDP etc have yet to follow suit.

Cannon_Fodder

Too busy trying to find adjectives to tack onto "global", when deflecting blame away from the UKs lack of preparedness, he forgets to engage brain...

purch

Too busy trying to find adjectives to tack onto "global", when deflecting blame away from the UKs lack of preparedness, he forgets to engage brain...

:T

Yeah, and trying SO hard not to say the word 'recession' :eek: that he say's an even worse one :rotfl:

What a dope :rotfl:

davilown

What affect would a depression have on the UK? Maybe I being a bit naive:o but I want to explain it to myself so I can understand what is/isn't happening!

elaina79

We had already been in a recession for 6 months before it was officially recognised. Before that it was called the downturn or the credit crunch.
The definition of a depression is just a severe recession. The main features are; A fall in GDP of 10% or more, A fall in GDP for over 3 years, Very high unemployment - over 20%, Deflation or Asset / credit contraction.

purch

What affect would a depression have on the UK?

Read this board for a few days, and you'll know what 'depression' feels like :eek:

WTF?_2

purch wrote: »

:T

Yeah, and trying SO hard not to say the word 'recession' :eek: that he say's an even worse one :rotfl:

What a dope :rotfl:

He was probably wanting to say "Downturn" as adopted by the BBC - such a nicer word than recession. "Browturn" would be more appropriate.

Talking of the BBC I saw that Peston was getting grilled by a commons committee today - got asked by McFall why there was always a graphic of an arrow pointing down behind the newsreader when reading out economic news. "Probably something to do with the fact that the country is f******d" I would have said.....

zedyy

wow, this is very shocking.

getmula4

Hi from a newbie everyone!!! Found this thread interesting... Anyway we look at it we are going into another type of great depression. Most folks I talk to do not understand and cannot grasp this concept but it will happen soon.

GM...