Tuesday 9 November 2010
How Many Recession In Your Lifetime?
Tuesday, November 09, 2010 | 
Posted by
Unknown
I look back on my lifetime and the various failures and continual errors in judgement via bureaucracy. As Historian Doctor Simon Schama said during a political debate pre-elections and I quote "In 65 years of combined Labour/Conservative rule, what has really been accomplished?" That statement certainly influenced my vote. Social housing has not improved, if anything it has worsened, contributed by Thatchers "Right to Buy" Quite worrying especially if you consider the fact this is the 21st century and not the 18th century. Employment is about to reach record highs yet again, the cyclical syndrome and complications reocurr and reocurr time and time again, irrespective of the tail tail signs and warnings. Five recessions in my lifetime, surely not?
1973 - 75
A quadrupling of oil prices by OPEC coupled with ongoing US expenses as a result of the escalation of the Vietnam War caused problems in developed economies, which suffered two years of inflation, with little or no growth.
1980 - 82
Central banks increased interest rates to quell the inflation of the late 1970s and another spike in oil prices as a result of the Iranian Revolution.
1990 - 91
A credit crunch caused by the aftershocks of the US Savings & Loans crisis, and a spike in oil prices due to the first Gulf War affected global industrial production.
2001 - 03
The bursting of the dot.com bubble, the September 11 terrorist attacks and a series of accounting scandals in the US caused global economies to feel the pain, as investors suffered and consumers kept their hands in their pockets.
The financial crisis of 2007 to the present was triggered by a liquidity shortfall in the United States banking system. It has resulted in the collapse of large financial institutions, the bailout of banks by national governments, and downturns in stock markets around the world. In many areas, the housing market has also suffered, resulting in numerous evictions, foreclosures and prolonged vacancies. It is considered by many economists to be the worst financial crisis since the Great Depression of the 1930s "Ditto to that".
So what is the long term sustainable solution, globalisation, fabricated wars, revolution or Guy Fawkes type plots to blow up The House of Lords and or Parliament? Perpetrators of crimes get off scot free! Or really just simple fundamental principles, organic locally sourced anything and everything? As much as is conceivably possible and we are capable and competent of producing, manufacturing, plus accomplishing! From the fork and knife that you utilise to eat your traceable, locally sourced produce from close proximity of your energy effecient home. A home that a vast majority of the materials, skills and resource are again traceable and locally sourced! Thus feeding the people and communities in and around settlements with jobs and pride in place.
Perhaps the political system is incompetent and lacks the necessary skills and resource, plus ability to perform and deliver? Whilst steering us away from bad weather and stormy waters. If financial storms, plus tsunamis generally seem to have a predictable patterns and cycles, why is it with all the advisors and specialists, plus consultants. Whether they be academic or not, or merely described as clever and or intelligent, we inevitably run ashore like HMS not so Astute. Just like HMS Astute and all it's sophisticated guidance systems, we still run aground. Who would have thought 100 years ago that the Great British Empire is potentially heading backwards instead of forwards in social and economic terms.
Now would be a better time than ever to rewrite the rule book. However we wrote the rule book but it would seem whilst educating the rest of the World we've fundamentally forgotten the basic principles and values we've installed in other countries. Design, create, orchastrate, produce, manufacture, own, control, peform, deliver, export, flourish, prosper, maintain impeccable integrity, standards, quality and meticulously exceed, plus excel. Most invaluable and important of all "Lead by Example". Limited or no manufacturing base seems to be the inheriant problem, ownership of technology "James Dyson" that's manufactured here on these shores, needs to prevail yet again!!!
1973 - 75
A quadrupling of oil prices by OPEC coupled with ongoing US expenses as a result of the escalation of the Vietnam War caused problems in developed economies, which suffered two years of inflation, with little or no growth.
1980 - 82
Central banks increased interest rates to quell the inflation of the late 1970s and another spike in oil prices as a result of the Iranian Revolution.
1990 - 91
A credit crunch caused by the aftershocks of the US Savings & Loans crisis, and a spike in oil prices due to the first Gulf War affected global industrial production.
2001 - 03
The bursting of the dot.com bubble, the September 11 terrorist attacks and a series of accounting scandals in the US caused global economies to feel the pain, as investors suffered and consumers kept their hands in their pockets.
The financial crisis of 2007 to the present was triggered by a liquidity shortfall in the United States banking system. It has resulted in the collapse of large financial institutions, the bailout of banks by national governments, and downturns in stock markets around the world. In many areas, the housing market has also suffered, resulting in numerous evictions, foreclosures and prolonged vacancies. It is considered by many economists to be the worst financial crisis since the Great Depression of the 1930s "Ditto to that".
So what is the long term sustainable solution, globalisation, fabricated wars, revolution or Guy Fawkes type plots to blow up The House of Lords and or Parliament? Perpetrators of crimes get off scot free! Or really just simple fundamental principles, organic locally sourced anything and everything? As much as is conceivably possible and we are capable and competent of producing, manufacturing, plus accomplishing! From the fork and knife that you utilise to eat your traceable, locally sourced produce from close proximity of your energy effecient home. A home that a vast majority of the materials, skills and resource are again traceable and locally sourced! Thus feeding the people and communities in and around settlements with jobs and pride in place.
Perhaps the political system is incompetent and lacks the necessary skills and resource, plus ability to perform and deliver? Whilst steering us away from bad weather and stormy waters. If financial storms, plus tsunamis generally seem to have a predictable patterns and cycles, why is it with all the advisors and specialists, plus consultants. Whether they be academic or not, or merely described as clever and or intelligent, we inevitably run ashore like HMS not so Astute. Just like HMS Astute and all it's sophisticated guidance systems, we still run aground. Who would have thought 100 years ago that the Great British Empire is potentially heading backwards instead of forwards in social and economic terms.
Now would be a better time than ever to rewrite the rule book. However we wrote the rule book but it would seem whilst educating the rest of the World we've fundamentally forgotten the basic principles and values we've installed in other countries. Design, create, orchastrate, produce, manufacture, own, control, peform, deliver, export, flourish, prosper, maintain impeccable integrity, standards, quality and meticulously exceed, plus excel. Most invaluable and important of all "Lead by Example". Limited or no manufacturing base seems to be the inheriant problem, ownership of technology "James Dyson" that's manufactured here on these shores, needs to prevail yet again!!!
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