Fears of second great recession coming

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
21/05/2010 12:21

City Fears of Second Great Depression coming.

 

Leading City experts have started raising the prospect of "Great Depression II" amid worries the European economic crisis could trigger a deeper bout of chaos.

MARKETS on both sides of the Atlantic dipped to fresh lows as fears surrounding the fate of the euro project transmuted into worries about the wider global economic system, reports The Telegraph.

 

Tiggy


Joined: 25/07/2007
Posts: 1994

Message Posted:
21/05/2010 12:24

Well you can not blame Gordon for this one!

Hilltop



Joined: 28/04/2008
Posts: 636

Message Posted:
21/05/2010 12:28

Want to bet? His policies are still there!

trncoldboy


Joined: 02/02/2009
Posts: 182

Message Posted:
21/05/2010 12:51

I fear there will be more unrest in Greece and the remedial measures will not achieve the required goal. Although we are not in the Euro, most of trade is conducted with Europe. Lets hope our new government can get us all "onside" with the cuts that are coming. I cannot see any "economic" growth for some time.

swannee7


Joined: 21/08/2009
Posts: 394

Message Posted:
21/05/2010 12:57

Ultimately, a new financial world order is the only answer. The 'US of Europe' poses too much of a divide.

trncoldboy


Joined: 02/02/2009
Posts: 182

Message Posted:
21/05/2010 13:09

I tend to agree. It seems that the EU has overreached itself in the quest for greater security. Not enough emphasis was placed on Financial prudence or indeed, a "blind eye" was turned for too long.

TopTen


Joined: 15/04/2009
Posts: 1246

Message Posted:
21/05/2010 13:31

Pull the plug let it sink

Tiggy


Joined: 25/07/2007
Posts: 1994

Message Posted:
21/05/2010 13:59

Well "Gord" warned you all.....mess with his recovery plans and a 2nd recession will be upon us all.



YOU HAVE/HAD BEEN WARNED!



Anyone watch Question time last night....."Teresa May" having to admit she did a backdown/changed her mind nearly turned her purple!

Harold2555



Joined: 19/04/2008
Posts: 1139

Message Posted:
21/05/2010 14:08

Hmm Attractive as a sound bite Top Ten but in reality it would be disastrous and something that we should be urging the members of the Euro club not to let happen.



More realistically, if they want a common currency then audit the figurs of all and relaunch with only those able to meet the criteria or accept that the stronger currencies must come to the aid of the weaker ones in perpetuity.

trncoldboy


Joined: 02/02/2009
Posts: 182

Message Posted:
21/05/2010 14:28

Maybe we should "throw all the pennies we've got left " into the development of an economical ELECTRIC car, before the Chinese or the Indians beat us to it. Then we would see some significant growth !!

PeeCee


Joined: 16/03/2009
Posts: 133

Message Posted:
21/05/2010 14:55

Well said Tiggy.

keithr


Joined: 20/08/2008
Posts: 720

Message Posted:
21/05/2010 16:26

Investors are now seeing the folly of the EU allowing any old country into its "club".



No government or other power structure (EU etc) is immune from the power of the markets,they decide who thrives or otherwise,no amount of tinkering and bold statements will convince them otherwise.



Either you are solvent or you are not.



Simple as that.

donga


Joined: 01/04/2009
Posts: 272

Message Posted:
21/05/2010 17:08

"Well you can not blame Gordon for this one"



Why not ?



He spent 12 years in charge of the purse strings & the thing is, not all economies are struggling & massively in debt like our.Especially no t the ones that kept house prices in check unlike ours where our bankers & leaders have been playing "monopoly" on the grandest of scales letting everyone "gamble" when it was quite clear they couldn't afford to pay back the money borrowed.



Gordon was asleep at the wheel for the duration but it's "OK" for him to blame the Tories. Remember him saying "no more boom & bust" ? Well we have just had the biggest boom in history so it follows that we about to have the biggest bust.



Many people are living the good life in the TRNC off the back of selling a house for a small fortune & the people who bought these over priced "slave boxes" from them are now saddled with a huge debt for the rest of their lives meaning the economy is grinding to a halt cos they cant afford the mortgage & to

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
21/05/2010 17:12

Heard on a BBC radio documentary that the UK debt relates to £90,000 per household!



Richard

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
21/05/2010 17:29

Bill

' City Fears of Second Great Depression coming. '



Bill as you know I also have been predicting the 'second recession' for some time now.

But unfortunately this one is going to hurt everyone in the EU (and those on the fringes) big time.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
21/05/2010 17:56

Spot on Dave.

cooper


Joined: 23/10/2007
Posts: 3386

Message Posted:
21/05/2010 18:03

AJ you say is it going to hurt everyone in the EU, but barbers worldwide, please explain.

Quarmby


Joined: 15/09/2008
Posts: 975

Message Posted:
21/05/2010 18:05

Doyen, let us into the secret , whose Dave otherwise your comment is meaningless.

cooper


Joined: 23/10/2007
Posts: 3386

Message Posted:
21/05/2010 18:06

It must be AJ "lets have no Quarms about it"

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
21/05/2010 18:17

Coops

There is going to be a lot of people ending up with a severe 'short back and sides'

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
21/05/2010 18:32

Quarmby,

A.J. isnt his real name,its only pretend,

Paul.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
21/05/2010 19:14

British Airways Plc reported a record annual loss as a slump in travel during the global recession was compounded by cabin-crew strikes and an unusually harsh winter.



The net loss widened to 425 million pounds ($613 million) in the year ended March 31 from 358 million pounds a year earlier, London-based British Airways said in a statement today. Europe’s third biggest carrier aims to break even this year.

swannee7


Joined: 21/08/2009
Posts: 394

Message Posted:
21/05/2010 19:48

No.1 D (22). " Europe's 3rd biggest carrier aims to break even this year." Maybe it could/would have done if the next wave (3 of them) of strikes orchestrated by Unite hadn't been likely to happen. That Union seems hell-bent on absolutely destroying BA, blowing it right out of the skies. Can't work it out....why?

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
21/05/2010 21:36

swannee - I agree entirely. At times like this everyone needs to pull together. They have a job and earn a decent wage together with 'perks'.

littlejohn


Joined: 09/03/2009
Posts: 316

Message Posted:
23/05/2010 00:49

Message 24 - once again you come out with utter nonsense!

What do you know about the terms and conditions of BA employees?

I can tell you they care about their passengers and their airline more than W Walsh esq who buggered Air Lingus up with his antics.

I think you should consider your position as admin and perhaps just pack it in.

Ans as an aside - compare BA staff with Turk airlines, CTA etc. No brainer !!!