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Old 11-30-2005, 04:57 PM   #1
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Default World Wide Recession??

Hey Guys, being the 'Full of useless information' guy I am, I took an interest on one of my MSN buddies nick name -

"Europe is heading for an economic recession.....And only Tony Zarb can lead us through it!"

So I headed onto the BBC website and looked up "european economic recession" and came to this page.

I read through the whole lot and guess the only main post I agree fully with is this one.

Capitalism succeeds only in an environment of growth and expansion. We now see the results of globalism in which entire industries have been exported to lower wage areas of the world. Wages are the basis of all prosperity. Any reduction in them produces the inevitable economic decline. What the world leaders should be now pursuing is a strategy to deal with the next world depression as to neglect this will make the French and Russian revolutions seem like a Quaker Sunday picnic by comparison when this economic bubble fully implodes.
Stephen B, USA

I know Germany is in a recession. Itally's having major economic difficulties and France - There not doing that great either. It seems the only major economic power in Europe doing well right now is the UK. But looking at how much stuff we now import from the likes of Malaysia and China, and the ammount our current economy relies on services instead of heavy industry, how long will this go on. With the economic boom of China and India, and with uncertianty now in the USA and Japan is the 'Rich' Western World going to stay rich for much longer?

Is the US the next 3rd world country?

Delta: "What's wrong Chris?? Chris: "I miss my old Cyrix"
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Old 11-30-2005, 05:21 PM   #2
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Default Re: World Wide Recession??

no, I think, in that situation your saying (or rather the writer) is that ther will be a worldwide depression?
in that case, we would redistribute wealth throughout the UN, and then there would be inflation for a while, but then probably after 10 years or so, we'd be back like we were in the 70's (stable)
but that's not gonna happen for at least 50 or 60 years, because of inflation

i think

i dunno, when i finish college, its the caymans for me (ill stay a US citizen tho)
ill just drive my super yacht up to the states to see family

that's scary though, i mean i was havin a great day till that
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