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Tuesday, 14th October 2008

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Could we be talking ourselves into a new Great Depression?



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Published Date: 20 March 2008
By GEORGE KEREVAN
It's a cultural trait to wallow in bad news, but the late Arthur C Clarke reminded us we all need optimism.
LAST August the world was basking in the fastest economic growth since the Second World War. By Christmas the media was speculating on a meltdown in festive shopping and a recession. Today the R-word has been replaced by D-for-depression and the me...



The full article contains 941 words and appears in The Scotsman newspaper.
Page 1 of 1

  • Last Updated: 19 March 2008 8:31 PM
  • Source: The Scotsman
  • Location: Edinburgh
  • Related Topics: George Kerevan
 
1

Isonomia,

Lenzie 20/03/2008 08:07:39
Yes we are all talking as we enter a great depression, or to be more exact, as oil and gas run out, the economy which they power must get smaller, and we are all talk and no action.

Unending growth is only possible if resources grow in a similar fashion. The fact is that whilst resources remain to be found growth can be fed by new discoveries and that is what has led to the myth that economic growth will always be positive.

But we have come to the end of the oil era, we cannot continue growth because we seem to have literally run out of new resources to discover and now the inevitable path of economic activity is downward.

And we can try to talk positively or talk negatively about it but nothing we do will stop it!

 

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