Soup kitchen queues grow as US teeters on brink of new downturn

Andrew64

I've seen a lot of reports in the last week that suggest this is a W-shaped recession, and that in the US the 2nd V is about to come. Who thinks Britain may be the same? Here is one of the more gloomy articles:

Soup kitchen queues grow as US teeters on brink of new downturn

http://www.guardian.co.uk/business/2009/jun/21/surge-in-demand-us-soup-kitchens

Graham_Devon

Andrew64 wrote: »

I've seen a lot of reports in the last week that suggest this is a W-shaped recession, and that in the US the 2nd V is about to come. Who thinks Britain may be the same? Here is one of the more gloomy articles:

Soup kitchen queues grow as US teeters on brink of new downturn

http://www.guardian.co.uk/business/2009/jun/21/surge-in-demand-us-soup-kitchens

As soon as QE came out I said this would be a double dip recession.

I didn't honestly know that this looked to be going this way in America though. If so, very interesting times ahead, as if it dips again, do they really have the funds and also, backup from the people / policy makers to fund more bailouts and more incentives?

If not, the dip will find it's own way. Which I personally believe will be down further, sharper and harder. Which is why I wished in thsi country we hadn't meddled so much, as as a lot of us said, it will only prolong the pain, and catch innocent people who listened to the hype.

tomterm8

Graham_Devon wrote: »

I didn't honestly know that this looked to be going this way in America though. .

Pretty much inevitable, happens in any big US recession because the US version of the dole runs out leaving people pretty much dollarless.

dopester

At least in the US the citizen knows they have to put by for themselves in the good times. That the safety net is minimal and not permanent.

I'd be grateful for soup-kitchens in the same situation, if I hadn't saved in the good times and if I'd been reckless with my decisions such as speculating on property, or indulging in total consumerism.

Free food. The US has a much better chance of seeing a recovery than we do - with more real world logic in place.

Not a cradle-to-grave welfare as over here... rewarding the idle, recklessness, gamblers, speculators, and those who refuse to STR after seeing their homes shoot-up in value. Even the safety net here is not enough for some people now they find the party is over..... with people whining how they've paid in to the system for years..... happy to see the value of their homes treble in 10 years... now they want a citizen's income ! Un-kin-believable. Your expectations need to be sledgehammered.

The money from Labour's party-years has gone. Spent - and even more - borrowed. It has gone in to supporting ever growing counterproductive slum culture, free healthcare, totally expensive wars ect. The rest of us, the prudent and hard-working, aren't here to pay and support every other reckless or idle person's way in life. Want some financial security in life? Then save up for it and stop expecting everyone else to pay your way.

tomterm8

yeah, except that your theory is rather spoiled by the simple fact that US citizens didn't save during the good times, and their entire country is up **** creek.

And, the US spends more money on its military than Europe, China, East Asia / Australia , and the middle east / africa combined.

So, you leave poor sods to starve in the street, while having a military that burns more fossil fuels than the UK.

Great. Lets all join the model of fiscal responsibility that is the US of A.

amcluesent

>Who thinks Britain may be the same?<

Oh yes.

Peeps I know in the NHS emergency planning centre are working 12 hours a day to prepare for the return of swine flu in the winter season.

The wildcat strikes seen in the refineries will make petrol rationing as stocks in the fuel dumps have dwindled.

A cold-snap could easily shutdown the national grid from a systemic overload condition.

Unemployment up another 50,000 PER MONTH for the rest of the year.

Spending slumps as peeps are on short time and IR rise, making mortgages crippling, leaving to a wave of repos and HPC kicks in again.

Oh, and Clown will be 'listening'.

dopester

tomterm8 wrote: »

yeah, except that your theory is rather spoiled by the simple fact that US citizens didn't save during the good times, and their entire country is up **** creek.

Their children will learn though. They will not share their parent's expectations that life is one big easy party. ... where house prices always rise, and you can earn good money, but also borrow and spend even more for lifestyle of fantasy.

They will be less likely to repeat the same reckless path for a few generations. And with the system allowed to correct, values falling... opportunity exists for them to acquire wealth of their own.

Whereas here in the UK, you'd prefer to allow the spenders, lazy and speculators to have their reality supported...... and ideally their house values supported no doubt... blocking out opportunity for the young coming through.

dopester

I think it was Lynzpower a couple of months ago... playing the card on how we have to protect the vulnerable children of irresponsible parents who are part slum-culture.

They aren't my responsibility. We need a system which deters them from having lots of children in the first place... which doesn't kick up a lot of money to reward them for doing so.

Slum-culture has been allowed to grow-and-grow here to extremes - with income redistribution from the rest of society paying for it. The time is coming for major reform.. paying all the welfare to scroungers and young non-working mothers can't be afforded and is so counterproductive - making it more difficult for everone else to become and remain affluent.

Also the USA knows that a strength of a currency is also supported by military power - although I'm not suggesting recent years of spending is justifiable. Spending will have to be scaled down and readjusted markedly.

StevieJ

Dopester, I swear you are getting worse, you will have to escape from that parental home, and lash out some of your cash on a new abode

PasturesNew

I wonder what flavour soups they have in soup kitchens... it'd be awful to be starving, get there and find they only have the one you hate.

StevieJ

PasturesNew wrote: »

I wonder what flavour soups they have in soup kitchens... it'd be awful to be starving, get there and find they only have the one you hate.

It will be some type of tomato :eek: