Siduhe;380724 Wrote: > I suspect there are a number of posters who are old enough to have > worked through the 80-82 and 90-91 recessions and seen many of the same > things.
Like me ;-) Siduhe;380724 Wrote: > Despite what I have heard commentators say in the print media recently, > they were just the same as this (at least from the > banking/finance/manufacturing/real estate perspectives) at least so far Each downturn has had a different cause. This one seems worse to me, with a more precipitous plunge. Siduhe;380724 Wrote: > and the predictions just as gloomy. Yeah, but for those who have already lost jobs, "gloomy" is more than a prediction. Siduhe;380724 Wrote: > I was in my first job out of college and absolutely bricked myself > thinking that life was over. Am a bit wiser now, and have taken the > precaution of building up six months of mortgage payments and bills in > savings ever since Good idea Siduhe;380724 Wrote: > The thing that is perhaps different about this one is the impact of > globalisation which simply wasn't the same factor back then. Big business has been multinational for eons, nothing new there. Compared to 10 years ago or more, the only real change today is the growth and continuing development of China and India, and the huge output of manufactured goods from the developing to the developed world. To me, the word "globalization" is more a political term than a financial one, and one usually with an intended negative connotation. For those who use it, I've never quite understood what their concerns are, what ills they seek to fix, and what alternatives are proposed. Maybe you could explain for me. Siduhe;380724 Wrote: > At this point it's impossible to say if the current recession will > follow the familiar track or twist off into something new - but so far > I've not seen anything that new. In the US, it's been rather different from past downturns. Federal governmental action - bailouts, loans and guarantees, etc., is more familiar abroad but very rare in in the US at such a large scale. The failures and disappearances of (what were thought to be) companies representing (some of)the American business establishment is remarkable. Maybe more to come. -- Goodsounds ------------------------------------------------------------------------ Goodsounds's Profile: http://forums.slimdevices.com/member.php?userid=14201 View this thread: http://forums.slimdevices.com/showthread.php?t=57742 _______________________________________________ discuss mailing list [email protected] http://lists.slimdevices.com/lists/listinfo/discuss
