We are already in new great depression: Paul Krugman

[stonehart]

We are already in new great depression: Paul Krugman | Video | Reuters.com

 

[mike]

I used to work in the money market and forex industry.
One mans profit is another mans loss, the only mitigating factor is growth.
But unchecked growth is just kicking the can down the road
The system has to collapse eventually

 

[stonehart]

I used to work in the money market and forex industry.
One mans profit is another mans loss, the only mitigating factor is growth.
But unchecked growth is just kicking the can down the road
The system has to collapse eventually

Yeah man and I feel we are at the end of that road.. I am more or less unemployed right now as there just are not the contracts coming in.
The economy is not in a good way and getting worse, the politicians are full of BS it is not getting better at all.

 

[stonehart]

Eurozone crisis: the bankers are happy to play Nero as Europe burns

m.guardian.co.uk

 

[stonehart]

 

[Kieran]

We are already in new great depression: Paul Krugman | Video | Reuters.com

Were we ever in a recession? I think depression because this economic downturn has been ongoing since 2008 . Only the gullible of our human societies saw differently, they probably felt our leaders will get us out of this mess eventually and fairly quick. In fact they have made it much worse!

Krugman is highly respected mainstream economist, so things must be getting worse economically in the first world.

 

[Kieran]

Eurozone crisis: the bankers are happy to play Nero as Europe burns

m.guardian.co.uk

Employment is rising in Europe. I'm lucky i have a job, but that could change like anything in life. Spain has the highest 50% of young people are now unemployed, that's an epic crisis for that country. They are very close to getting a bailout from the Germans. Ireland my country has 14% to 18% young unemployment. The situation in Europe is dire to be honest.

 

[stonehart]

Employment is rising in Europe. I'm lucky i have a job, but that could change like anything in life. Spain has the highest 50% of young people are now unemployed, that's an epic crisis for that country. They are very close to getting a bailout from the Germans. Ireland my country has 14% to 18% young unemployment. The situation in Europe is dire to be honest.

thanks for the honesty it is good to hear from people who are on the ground so to speak.

 

[boomerang]

Is the current economic "downturn" the result of graft and bad money management? This possibility makes one angry. Or is the slide a symptom of a materially limited planet incapable of supporting growing numbers of humans aspiring to a better standard of living ? If the second dynamic is a root cause, past "fixes" for weak economies will probably fail, and humanity will need to have its act together like never before.

So happens I'm listening to a news report about the current drought slamming the nation's food production for this year as I am typing. Too much listening to current events can be bad for mental health.

 

[dyingsun]

The European Union might not be such an economic failure of giant proportions if the goddamn Euro would cease to exist right now and every country would be left to their respective own devices and currencies. I'm just sick of it, and being german, I'm the the asshole all the time. Not that I pay for shit with my taxes only lunatics would sign of on... Nice try, Europe.

 

[Ezechiel]

I used to work for an organization that manages pension money. After a few brushes with catastrophic failure, they are now very conservative with their investment portfolios.

There is a great depression, but this time its very different. You can only escape it with higher education now that a huge segment of the manufacturing/industrial base has been shipped over seas (ie. China, Mexico, India, Vietnam...) The american dream is now in service industries and Elon Musk type ventures Elon Musk - Forbes

 

[Kieran]

Far-Right's Food Handouts - For Greeks Only.

 

[dyingsun]

Kieran, thanks for that.

'Golden Dawn', ok.

 

[dyingsun]

In the greek sense, it isn't.

 

[dyingsun]

My other reply got eaten, fuck them for even adopting the Name . I'm all for greek pride since I'm allowed little of it, but fuck those people. Hope I did, real quick.

 

[dyingsun]

Sense, it makes none .

 

[stonehart]

Far-Right's Food Handouts - For Greeks Only.

That reminds me of something .... hmmmm a certain party that came to power just before WW2

 

[mike]

Part of this is the double edged sword called growth.
On the one hand on paper growth translates to increase, increased profit, increased markets, increased sales.....
But its also the root of the problem.
I was at the cusp of the introduction of business computing, i watched an old HP 3000 replace two office floors of accounting staff, and its a trend thats grown.
The garbage trucks of my youth had at least 4 people on them, todays robotic models have a single operator.
As a lad if you picked up a telephone an operator would ask what number please, to day exchanges are automated.
manufactoring plants robotise wherever they can, they have to because the plant down the road is competing, if they robotise, the unit price of their product falls, they get market preference and your out of business.

Population growth does provide jobs, more people need more doctors, nurses, lawyers, but that slight increase in service industry demand, is never going to fill the hole left by mechanisation.

The octomom nadya suleman, has 14 children...... swore on NBC's today and i quote "ive never been on public assistance and i never will, i would feel like a failure as a mother and as a human being"
Octomom Today Show | Nadya Suleman | Video | Mediaite

fast forward

she confirmed in April 2012 on NBC's Today show that she was indeed on public assistance.

The poor kids live in sqalor, and mom is pole dancing to pay the rent

Several entertainment news sites report that Nadya Suleman, the “Octomom”, will be starting a part-time career as a stripper, with her first gig coming in July at T’s Lounge in suburban West Palm Beach, pbpulse reports.

TMZ was among the first to report that Suleman will be performing two shows a night July 11-15. The site reports that Octomom, so known because she has had 14 children, including octuplets in January 2009, will be appearing topless at the adult entertainment lounge.

Us magazine reports that Suleman filed for Chapter 7 bankruptcy in April, with assets less than $50,000 and liabilities between $500,000 and $1 million. In addition, according to the New York Post, Suleman’s home is in foreclosure.

By what wave of a magic wand does she think her 14 kids are going to get work ?
And im not singling her out, shes just one example.

In animal populations a contraction of resources ie food, water ,territory results in a coresponding reduction in population.
In the human scenario we are seeing the contraction of resources including employment oppertunitys......but we just keep growing.

All bubbles burst, This will be nasty when it does