World Economic Crisis

Discuss the latest news in the media and voice your own opinions about the news.

Postby chocolatefudgecake » Wed Dec 24, 2008 4:04 pm

Dan wrote:The government have done all they can to help, it'd be worse had they done nothing. The 1992 recession was much worse than this because the government did not do anything.


i don't know because i wasn't alive then, but my uncle said that was a mini one. I'm thinking it's not as bad as the wall street crash just after the roaring 20's in america. The american government didn't do anything then. I think that was a recession, anyway.
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Postby Remus » Wed Dec 24, 2008 11:42 pm

More bad news: http://news.bbc.co.uk/1/hi/business/7798973.stm

Zavvi has gone into administration too. I'm so glad now that I left Zavvi when I was in there the other day and went next door to HMV.
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Postby Dan » Thu Dec 25, 2008 2:52 am

chocolatefudgecake wrote:
Dan wrote:The government have done all they can to help, it'd be worse had they done nothing. The 1992 recession was much worse than this because the government did not do anything.


i don't know because i wasn't alive then, but my uncle said that was a mini one. I'm thinking it's not as bad as the wall street crash just after the roaring 20's in america. The american government didn't do anything then. I think that was a recession, anyway.


Errrr. The 20's crash was HUGE. Absolutely gigantic, this could NEVER be as bad, seriously, read up on the crash of 29, you'll soon realise that it changed lives completely and also changed the world.

The 1992 recession caused a worse decline than this recession is predicted to by far but it happened more slowly so companies did not go bust so quickly like they are now. Anyway, just rest assured this cannot possibly be as bad as '29 and I highly doubt as bad as '92.

The government not doing anything in the '29 crash caused a lot of problems, if the government had done nothing in the past few months things would be worse.
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Postby chocolatefudgecake » Thu Dec 25, 2008 8:08 pm

Dan wrote:
chocolatefudgecake wrote:
Dan wrote:The government have done all they can to help, it'd be worse had they done nothing. The 1992 recession was much worse than this because the government did not do anything.


i don't know because i wasn't alive then, but my uncle said that was a mini one. I'm thinking it's not as bad as the wall street crash just after the roaring 20's in america. The american government didn't do anything then. I think that was a recession, anyway.


Errrr. The 20's crash was HUGE. Absolutely gigantic, this could NEVER be as bad, seriously, read up on the crash of 29, you'll soon realise that it changed lives completely and also changed the world.


I know it was huge - i did my coursework on it in year 10. Im just not 100% sure on the definition of recession. but, if i remember correctly, the government's actions made things worse.
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Postby Fortnox » Fri Dec 26, 2008 8:22 pm

You're totally right about the jobs, though I hadn't thought of that at the time. However, I guess that's what it really means to whether the great depression- we have to survive that kind of downfall. After all, destroying the monopalised, super rich corporations would allow new companies to appear- Replace the big three with a big ten, spread the wealth around. It would be difficult, millions of people would suffer, the power and wealth of the world would favour the east rather than the west for the first time in hundreds of years.. And we would, eventually, come out of it better than before with more economic freedom and less monopolised industry.
I would especially love to see media institutions like the BBC, FOX and ABC dethroned.. But TV has forever proven to be a recession-proof industry, so I doubt that's likely.. But if it does happen, it'll be thanks to internet, thanks to freedom of information and well, thanks to piracy.
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Postby Dan » Fri Dec 26, 2008 8:23 pm

chocolatefudgecake wrote:
Dan wrote:
chocolatefudgecake wrote:
Dan wrote:The government have done all they can to help, it'd be worse had they done nothing. The 1992 recession was much worse than this because the government did not do anything.


i don't know because i wasn't alive then, but my uncle said that was a mini one. I'm thinking it's not as bad as the wall street crash just after the roaring 20's in america. The american government didn't do anything then. I think that was a recession, anyway.


Errrr. The 20's crash was HUGE. Absolutely gigantic, this could NEVER be as bad, seriously, read up on the crash of 29, you'll soon realise that it changed lives completely and also changed the world.


I know it was huge - i did my coursework on it in year 10. Im just not 100% sure on the definition of recession. but, if i remember correctly, the government's actions made things worse.


A recession is zero or negative growth in a quarter in a fiscal year I think. At the moment the governments actions have been for the best, they could probably be better with hindsight but they don't have a crystal ball.
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Postby Bladen » Fri Dec 26, 2008 8:39 pm

I'm totally dull with this area but all I really can say is that I have a feeling this isn't something to shout armageddon over, this will resolve, not without casualty though.
So many small businesses and shops going bust, selling off, going into administration.
Its just a shame really.
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Postby chocolatefudgecake » Sun Dec 28, 2008 11:20 pm

Dan wrote:
chocolatefudgecake wrote:
Dan wrote:
chocolatefudgecake wrote:
Dan wrote:The government have done all they can to help, it'd be worse had they done nothing. The 1992 recession was much worse than this because the government did not do anything.


i don't know because i wasn't alive then, but my uncle said that was a mini one. I'm thinking it's not as bad as the wall street crash just after the roaring 20's in america. The american government didn't do anything then. I think that was a recession, anyway.


Errrr. The 20's crash was HUGE. Absolutely gigantic, this could NEVER be as bad, seriously, read up on the crash of 29, you'll soon realise that it changed lives completely and also changed the world.


I know it was huge - i did my coursework on it in year 10. Im just not 100% sure on the definition of recession. but, if i remember correctly, the government's actions made things worse.


A recession is zero or negative growth in a quarter in a fiscal year I think. At the moment the governments actions have been for the best, they could probably be better with hindsight but they don't have a crystal ball.


I meant the government in the 20's crash made it worse. The current government is doing what they can.

Bladen wrote:So many small businesses and shops going bust, selling off, going into administration.


But it's not just small businesses going. It doesn't matter if it small or big - there's lots of different factors. e.g., woolworths was in debt anywy, but the credit crunch finnished it off - it may have been o.k. otherwise.
And, In theory, buisinesses related to luxury items will do worse than buisinesses related to nessesity items - e.g. food shop will be better off that, say, a music store.
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Postby Dan » Mon Dec 29, 2008 2:47 pm

There's a joke going around that if you want to start a small business, you should buy a large business and wait.
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Postby chocolatefudgecake » Mon Dec 29, 2008 9:33 pm

good one! although maybe not the smartest idea.

Apparently Adams is starting to struggle too. At this rate, this time next year there'll be no big buisinesses left except the supermarkets.

and going back to the woolworths talk - when is everyone's local woolworths shutting? Ours will be one of the last - it closes on the 5th, I think. :( Commertial Road's one has closed, and southampton lost theirs ages ago.
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Postby Bladen » Mon Dec 29, 2008 9:38 pm

Already shut down.
I was really hoping there'd be a last minute bombshell to save it, but everyone seems to be too focused on their own problems rather than to help with someone else's.
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Postby chocolatefudgecake » Mon Dec 29, 2008 9:44 pm

me too. i loved woolworths.

This may sound silly, but i'm keeping the last bag and recept i got from there.
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Postby druchi » Thu Jan 01, 2009 12:53 pm

My town has allready started turning intoa ghost town all the shops are closeing down bar a corner shop and the Co-op.

there is a subway too but that really is it all the other shops are boarded up and shut and allready in the worse areas of town a riot squad had to be deployed to keep order in the area.

here it is quite bad but luckily the train into glasgow is not that bad so we can get out of it that way.

I miss all the shops becuase I seriously havent seen anything like it

and although we wont be approching the great deppresion anytime soon it doesnt mean it isnt going to be bad or not hurt
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Postby Hermionefan5 » Tue Jan 20, 2009 3:46 pm

A lot of the big chain stores are closing here. Circuit City, the second largest electronics store chain in the country just closed all its stores. The big three auto companies are pretty much going bankrupt and many other stores just shut their doors. It's a bad looking situation. It may not be as bad as the 1930s depression, but it's bad and I can't see that it will be fixed in a year or so. I hope President Obama can help turn things around. I believe in him. I believe if we work together we can get it to turn around. Recessions are a natural part of the economy. They happened here in the 1980s and they are happening now. This is just a big one.
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Re: World Economic Crisis

Postby HairyLemon » Thu Aug 13, 2009 10:41 pm

Apparently France and Germany aren't in a recession anymore so theres some good news. Maybe things will start to pick up now. I do think the BBC are milking it a bit though because they were filming in my town recently but it was on the worst possible street. Most of the shops had just moved down the road but they were making it seem like the whole city was struggling.
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