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Is it fair to say a recovery is inevitable or even likely?


feargach

Well-known member
Joined
Dec 11, 2006
Messages
4,995
Every country in deep trouble right now is led by various types of bumbler rabbiting on about "recovery", even though the economy continues to flatline.

At what point do we need to call a halt to this charade of promising happier tomorrows to people who don't understand economics?

The present Eurozone situation of rising unemployment, falling wages, rises in the pension age, falling job security and non-stop shipping of jobs to China...

Is this a condition which we can reasonably expect to "recover" from? Or is it just normality?

Isn't it time to start thinking about adapting to this new era of normality, and stop with the wistful dreaming about all the troubles melting away?

When it comes to economics, most adults are basically children, who don't know that money doesn't actually consist of notes and coins. If the media, the government AND the oppisition are all spouting the highly dubious notion that a "recovery" to pre-2008 conditions can happen, they're dangerously likely to believe it.

But those of us who have waded through the boring textbooks to become economically literate know the horrible truth: all the scenarios that suggest a generalised return to pre-2008 prosperity are awfully implausible and have no relation to facts as they currently stand. Economic demand is in the toilet, and will certainly remain so for the next decade, while Germany retains a stranglehold on the euro zone. Even if the other euro members eventually shout "enough!" and force a split in the euro, that will hurt the economy brutally for years before bearing fruit.

With this backdrop, for people who know better to be blathering on about "recovery" seems to me to be plain old immoral.
 

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