The Global Economic Recession is OVER

[RGBVideo]

but there was definitely a near-nil growth in western economies these years

WAS THERE A GLOBAL ECONOMIC RECESSION GOING ON?

[Spiffor]

I am not blind Tuome.
I don't know if there was an actual recession, and I'm not the author of the thread's title. I just know there was a considerable slowdown of the growth. The only sure figure that I know is the negative growth in France Q4 2002, which is technically not a recession since we don't know if growth has ben negative in Q1 2003 as of yet.

[HershOstropoler]

There's a definition of global recession that assumes one when world GDP growth falls below 2 %, or something like that. There hasn't been a year of global GDP contraction, and AFAIK not even two consecutive quarters.

So as usual, it depends on your definition of "recession".

[Dinner]

I beleive the definition of recession is two consecutive quarters of negative growth so if we summ up the world's GNP and see that total figure fall for two consecutive quarters then wouldn't we be in a global recession?

I don't know if that happened but it seems like a fair way to define it.

[HershOstropoler]

That's just _one_ definition of recession, although the most popular.

[Dauphin]

I don't really care too much about whether there is or not a technical recession. I'm more interested in the unemployment rates and unemployment turnover.

I can't even get job interviews at the moment, let alone a job.

[Dinner]

Hang in there Crunchy. It took me 3 months to find a job and I had to relocate to get it but it's worth it if you can get on with the right company.

[Willem]

Originally posted by Boris Godunov
...and the debt bubble.

That one's your problem. Most of the rest of the world realized a decade ago that government deficits aren't good for an economy. You have only George W. to thank for that one, Clinton had a healthy surplus going before he left office.

[Dinner]

Actually we have GWB and a couple of hundred other politicians who keep spending money like there's no tomorrow to blame for this mess.

Sadly, it will get much worse before it gets better.

[Willem]

Originally posted by Q Cubed


as for biotech... like the dotcommers, i don't think that's really going to be that hot. it'll definitely get more respect, but it won't be anything on the mania we saw before when one could say that one was cloning goatfvckers and get a high ipo for it.

That's only looking at from an investor point of view. If some of the potentials start making their way into our everyday lives, it can have dramatic effects on our entire way of life.

[Willem]

Originally posted by Oerdin
Actually we have GWB and a couple of hundred other politicians who keep spending money like there's no tomorrow to blame for this mess.

Sadly, it will get much worse before it gets better.

It's a matter of leadership and GW is pretty much leading the pack as far as cost overruns are concerned. "Yeah, a few billion for a dubious missile shield? No problem!" and other like minded adventures.

[Dauphin]

Hang in there Crunchy. It took me 3 months to find a job and I had to relocate to get it but it's worth it if you can get on with the right company.

I'm in month 5 of searching now. The most depressing thing is that of the 50 or so largest chartered accountancy firms in the UK(and as many smaller firms as I could find in the local Yellow pages), that I sent speculative enquiries to, asking if they would be able to take me on for a year to complete my studies and CA training, half didn't reply and of those that did the standard reply was that they were no vacancies for someone with my experiences. If accountancy firms aren't going to recruit me what hope have I got that anyone else will!!

Looks like I'm back to university in the Autumn.

[DanS]

Mr Yen says not so fast on the champagne. We are entering a period of deflation.

http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1051389986964&p=1012571727092

[Dinner]

Originally posted by Big Crunch
I'm in month 5 of searching now. The most depressing thing is that of the 50 or so largest chartered accountancy firms in the UK(and as many smaller firms as I could find in the local Yellow pages), that I sent speculative enquiries to, asking if they would be able to take me on for a year to complete my studies and CA training, half didn't reply and of those that did the standard reply was that they were no vacancies for someone with my experiences. If accountancy firms aren't going to recruit me what hope have I got that anyone else will!!

Looks like I'm back to university in the Autumn.

I'm not sure about accounting but in my field (geology) there are a number of professional organizations were every body goes to hob-nob and drink beer with other people in the field. I got numerous leads just by going to these meetings and making sure everybody knew I was looking for a job. Also to get my last job (not the one I'm at now) I ended up taking a manual labor position that was way below my level of expertise just because I knew I'd be working with other people in the field. As it turned out one of them was really nice and gave me the inside leg up on a job which wasn't even advertised.

Think of looking for a job as being your job and make sure you spend several hours a day actively looking and not just surfing the net or playing video games. Best of luck.

[Dinner]

Originally posted by DanS
Mr Yen says not so fast on the champagne. We are entering a period of deflation.

http://news.ft.com/servlet/ContentSe...=1012571727092

Businessweek has a great piece on this in their current issue. The indicators are actually mixed because old style manufactured goods are deflaiting (things like cars, furniture, clothes) due to increased global competetion while services are actually increasing sharply in price.

It seems most of the propundits of deflation are only talking about it because the Japanese went through (and are going through) deflation after their bubble burst. Personally, I don't see the US as having the same sort of structural weakness that Japan had/continues to have.