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View Full Version : Long term chronic world wide recession.



Ray Frechette Jr
11-21-2011, 11:13 AM
On Saturday, Wang gave the most dire assessment on the world economy from a senior Chinese policymaker to date.

"The one thing that we can be certain of, among all the uncertainties, is that the global economic recession caused by the international financial crisis will be chronic," he was quoted as saying by the official Xinhua news agency.

http://news.yahoo.com/global-economic-outlook-grim-china-tells-u-trade-042547999.html

Cuyahoga Chuck
11-21-2011, 11:17 AM
Why should we believe Yang? I never heard of him and suspect he is part of the Chinese dictatorship. Isn't it possible he was just spouting a part line given him by his bosses in the Communist hierarchy who put it out for internal consumption?

Ray Frechette Jr
11-21-2011, 11:31 AM
Do you have any reason to believe that we are not facing long term chronic recessionary environment world wide?

Ray Frechette Jr
11-21-2011, 11:32 AM
The only thing I am fairly certain of is that politicians on both sides of the aisle are not up to the challenges we are facing. Neither party seems to have a good grasp of the reality of the situation we are in and a way out of it.

George Jung
11-21-2011, 11:39 AM
It's discouraging to see government focusing on short, immediate time lines rather than having a long term, well thought out plan. Maybe that's a product of our democratic process - doing 'what it takes' to win a 2 or four year elected position. But short-sighted in the extreme.

purri
11-21-2011, 03:07 PM
A prediction is for 10 to 12 tears of nil to low growth.

Flying Orca
11-21-2011, 03:18 PM
A prediction is for 10 to 12 tears of nil to low growth.

The only thing that's new about that is it's now affecting the rich and the boomers (overlapping sets, to be sure). My generation and those after it have known this as reality since we got into the work force.

1965 production worker average hourly wage, adjusted for inflation: $19.61
2007 production worker average hourly: $19.71 (yeah, you've sure come a long way, baby!)

1965 CEO typical hourly wage, adjusted for inflation: $490.31
2007 CEO typical hourly wage: $5,419.97

skuthorp
11-21-2011, 03:23 PM
I think he's got it about right, this depressive cycle is still running and like you, many of our politicians are either lying in their teeth about it or have their heads well and truly somewhere the sun don't shine on the matter. Constant growth forever is a myth of course and checks can and must occur, this is likely a big one and much of the 'debt' owed is already gone forever. This is tied to the occupy movement and no matter how chaotic they may seem the excesses of corporate salaries, let alone the broken promises of governments and bankers are enough to keep it running.

seanz
11-21-2011, 04:25 PM
It's discouraging to see government focusing on short, immediate time lines rather than having a long term, well thought out plan. Maybe that's a product of our democratic process - doing 'what it takes' to win a 2 or four year elected position. But short-sighted in the extreme.

You find that discouraging? You'll be catatonic with depression when you realize a lot of business focus is quarterly......

Bruce Hooke
11-21-2011, 06:20 PM
In a time of chronic resources shortages it is not unreasonable to also expect chronic economic problems. The world's economy has been built on fossil fuels and other very finite resources for something like 175 years. While those resources are not for the most part running out they are getting a lot more expensive and this acts as a perpetual brake on the economy, at least until we get to a point where the vast majority of our consumption is really and truly sustainable (meaning we are consuming resources no faster than they are being created), which we are a long, long ways from right now.

LeeG
11-21-2011, 09:40 PM
what Bruce said. I think we're doing the boiling frog analogy. It's all taking long enough that denial behaviors will satisfy immediate concerns.

brad9798
11-21-2011, 09:45 PM
seanz- ALL business focus is now quarterly ... at least in PUBLICLY held companies ...

STOCK HOLDERS ARE THE KEY TO OUR DEMISE!!!!! NOT Ceos NOT board members ... STOCK HOLDERS are NOW our demise ...

purri
11-22-2011, 06:23 AM
Incorrect, they and those generic social expectations are the keys.

Tylerdurden
11-22-2011, 06:31 AM
One has to understand the Debt Slavery Cycle we are living under. None of this is about money, commodity's or governments. Its about the debt. Its all about the debt. I cannot begin to fathom how so many supposedly smart men cannot begin to see that unless it is programmed blindness.

This may help one to understand.... http://xkcd.com/980/huge/#x=-11250&y=-6528&z=5

bob winter
11-22-2011, 06:42 AM
We live in interesting times. Not necessarily a good thing.