So it’s the great noughties depression is it?

With the news that the country is in ‘official’ recession, it’s time to address the issue once and for all.

Rule of thumb states a country must go through two consecutive quarters of consecutive negative growth to be ‘in recession‘. Finally, this has been confirmed in Britain, but does that really matter now?

Some economists claim the country has being going down the tubes since April last year, while many countless thousands have lost their jobs while the country fidgeted uneasily in limbo, unsure whether reality was as horrificly dim as it seemed.

“There is no fear, but fear itself”: an easy thing to say, but much harder to do, personally I prefer my own version: “The only real way to overcome fear, is to face it”.

Currently, people who were once in the most secure of jobs are tugging at their collars nervously, but the foundation of the problem (as far as I can make out) is the general public’s fear of losing everything.

Of course it’s easy for students to remain unaffected; they either had no money in the first place (those un-subsidised by parents or Government) or are striving on blindly regardless (the rest). Businesses themselves are obviously the most affected area, as I reported only a few weeks ago, but individual’s savings up to £50,000 are guaranteed by law, so by rights the long winding queues of Northern Rock’s demise are, or should be, a thing of the past.

Sadly, children’s lives aren’t necessarily so blessed, with house repossessions rising to one per seven (SEVEN!) minutes according to the ONS.

I’ve come up with a simple solution: stop going on about it.

Fair enough, it might take a year or two before things are running smoothly again, but nothing is going to move forward while people are still worrying and paralysed by indecision on whether they should go on that holiday to Tuscany.

To that end, I’m going to do my part for my ‘master plan’ to fight the forces of shock-and-awe journalism and not mention the financial crisis, the credit crunch, the downturn, the recession, the collapse of the high street or sub-prime mortgages anymore.

It’s not that I don’t appreciate there’s a problem, I just attribute a lot of it down to the typical mass hysteria and scaremongering from the venomous tabloids, though in contrast some papers got the right idea.

At the end of day history takes it’s course, insert whatever generic saying you like, but this is something British people can actually affect, perhaps it’s time to be a little more selfish and worry about our own future first before we paw with futility at the next biggest buzz-kill: the environment.

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2 thoughts on “So it’s the great noughties depression is it?”

  1. Ok past experience suggests that pessimism doesn't help.Agreed but unlike previous downturns this is severe because the very substance of growth has been blown away.We have relied on asset inflation as a growth measure financed by borrowings from abroad.This is how people have afforded their Tuscan holidays.There are a lot of people who have lived in a world knowing little other than constant growth and security.ItIs going to be a dificult transition

  2. Seeing as I'm probably one of those people (being too young to remember the 90s recession and certainly the high flying interest rates of the 80s) I absolutely agree that it's going to be difficult, particularly for people who had, or have, lifestyles based on credit.The next six months will be critical, if any of the major banks falter then we could be in serious trouble, surely the government can't afford to bail out all the high street banks?If they do, of course, it will make Cameron's IMF worry a little more likely.

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