May 13, 2003, 14:36
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#31
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King
Local Time: 01:20
Local Date: November 2, 2010
Join Date: Dec 2001
Location: Helsinki
Posts: 2,247
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Quote:
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but there was definitely a near-nil growth in western economies these years
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Quote:
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WAS THERE A GLOBAL ECONOMIC RECESSION GOING ON?
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May 13, 2003, 14:38
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#32
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Local Time: 03:20
Local Date: November 2, 2010
Join Date: Nov 2001
Location: jihadding against Danish Feta
Posts: 6,182
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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.
__________________
"I have been reading up on the universe and have come to the conclusion that the universe is a good thing." -- Dissident
"I never had the need to have a boner." -- Dissident
"I have never cut off my penis when I was upset over a girl." -- Dis
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May 13, 2003, 14:41
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#33
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Settler
Local Time: 02:20
Local Date: November 2, 2010
Join Date: Nov 2002
Posts: 0
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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".
__________________
“Now we declare… that the law-making power or the first and real effective source of law is the people or the body of citizens or the prevailing part of the people according to its election or its will expressed in general convention by vote, commanding or deciding that something be done or omitted in regard to human civil acts under penalty or temporal punishment….” (Marsilius of Padua, „Defensor Pacis“, AD 1324)
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May 13, 2003, 14:43
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#34
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Deity
Local Time: 18:20
Local Date: November 1, 2010
Join Date: Sep 2001
Location: In a bamboo forest hiding from Dale.
Posts: 17,436
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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.
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Christianity is the belief in a cosmic Jewish zombie who can give us eternal life if we symbolically eat his flesh and blood and telepathically tell him that we accept him as our lord and master so he can remove an evil force present in all humanity because a woman was convinced by a talking snake to eat from an apple tree.
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May 13, 2003, 15:06
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#35
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Settler
Local Time: 02:20
Local Date: November 2, 2010
Join Date: Nov 2002
Posts: 0
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That's just _one_ definition of recession, although the most popular.
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“Now we declare… that the law-making power or the first and real effective source of law is the people or the body of citizens or the prevailing part of the people according to its election or its will expressed in general convention by vote, commanding or deciding that something be done or omitted in regard to human civil acts under penalty or temporal punishment….” (Marsilius of Padua, „Defensor Pacis“, AD 1324)
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May 13, 2003, 16:14
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#36
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Deity
Local Time: 02:20
Local Date: November 2, 2010
Join Date: Dec 1969
Location: Seouenaca, Cantium
Posts: 12,426
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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.
__________________
"Everybody knows you never go full retard. You went full retard man. Never go full retard"
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May 13, 2003, 16:20
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#37
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Deity
Local Time: 18:20
Local Date: November 1, 2010
Join Date: Sep 2001
Location: In a bamboo forest hiding from Dale.
Posts: 17,436
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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.
__________________
Christianity is the belief in a cosmic Jewish zombie who can give us eternal life if we symbolically eat his flesh and blood and telepathically tell him that we accept him as our lord and master so he can remove an evil force present in all humanity because a woman was convinced by a talking snake to eat from an apple tree.
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May 13, 2003, 16:26
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#38
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Emperor
Local Time: 18:20
Local Date: November 1, 2010
Join Date: Dec 2001
Location: Canada
Posts: 5,755
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Quote:
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Originally posted by Boris Godunov
...and the debt bubble.
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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.
Last edited by Willem; May 13, 2003 at 16:32.
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May 13, 2003, 16:28
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#39
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Deity
Local Time: 18:20
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Join Date: Sep 2001
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Posts: 17,436
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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.
__________________
Christianity is the belief in a cosmic Jewish zombie who can give us eternal life if we symbolically eat his flesh and blood and telepathically tell him that we accept him as our lord and master so he can remove an evil force present in all humanity because a woman was convinced by a talking snake to eat from an apple tree.
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May 13, 2003, 16:31
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#40
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Emperor
Local Time: 18:20
Local Date: November 1, 2010
Join Date: Dec 2001
Location: Canada
Posts: 5,755
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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.
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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.
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May 13, 2003, 16:38
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#41
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Emperor
Local Time: 18:20
Local Date: November 1, 2010
Join Date: Dec 2001
Location: Canada
Posts: 5,755
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Quote:
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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.
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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.
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May 13, 2003, 16:41
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#42
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Deity
Local Time: 02:20
Local Date: November 2, 2010
Join Date: Dec 1969
Location: Seouenaca, Cantium
Posts: 12,426
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Quote:
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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.
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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. 
__________________
"Everybody knows you never go full retard. You went full retard man. Never go full retard"
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May 13, 2003, 17:03
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#43
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Deity
Local Time: 21:20
Local Date: November 1, 2010
Join Date: Dec 1969
Location: Not your daddy's Benjamins
Posts: 10,737
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Mr Yen says not so fast on the champagne. We are entering a period of deflation.
http://news.ft.com/servlet/ContentSe...=1012571727092
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I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891
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May 13, 2003, 17:35
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#44
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Deity
Local Time: 18:20
Local Date: November 1, 2010
Join Date: Sep 2001
Location: In a bamboo forest hiding from Dale.
Posts: 17,436
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Quote:
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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.
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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. 
__________________
Christianity is the belief in a cosmic Jewish zombie who can give us eternal life if we symbolically eat his flesh and blood and telepathically tell him that we accept him as our lord and master so he can remove an evil force present in all humanity because a woman was convinced by a talking snake to eat from an apple tree.
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May 13, 2003, 17:39
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#45
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Deity
Local Time: 18:20
Local Date: November 1, 2010
Join Date: Sep 2001
Location: In a bamboo forest hiding from Dale.
Posts: 17,436
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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.
__________________
Christianity is the belief in a cosmic Jewish zombie who can give us eternal life if we symbolically eat his flesh and blood and telepathically tell him that we accept him as our lord and master so he can remove an evil force present in all humanity because a woman was convinced by a talking snake to eat from an apple tree.
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May 13, 2003, 17:39
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#46
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Deity
Local Time: 02:20
Local Date: November 2, 2010
Join Date: Feb 2000
Location: Germans own my soul.
Posts: 14,861
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I'll believe that when I have a decent job...
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Speaking of Erith:
"It's not twinned with anywhere, but it does have a suicide pact with Dagenham" - Linda Smith
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May 13, 2003, 19:00
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#47
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Deity
Local Time: 17:20
Local Date: November 1, 2010
Join Date: Mar 2003
Posts: 12,628
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Mr. Yen says we need to live with a little deflation? I don't think so. We maybe headed down that road, but I think we should try to avoid it by any means. I give monetary a 50% if it's used according to the situation that we are in.
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May 13, 2003, 19:02
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#48
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Deity
Local Time: 18:20
Local Date: November 1, 2010
Join Date: Sep 2001
Location: In a bamboo forest hiding from Dale.
Posts: 17,436
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There's a rumor that the fed is going to try to talk down the dollar thus making imports (the primary cause of the deflation in manufactured goods) a bit more expensive. Hopefully, that will help fight off deflation and give a nudge to the countries exporters.
__________________
Christianity is the belief in a cosmic Jewish zombie who can give us eternal life if we symbolically eat his flesh and blood and telepathically tell him that we accept him as our lord and master so he can remove an evil force present in all humanity because a woman was convinced by a talking snake to eat from an apple tree.
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May 13, 2003, 19:15
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#49
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Deity
Local Time: 17:20
Local Date: November 1, 2010
Join Date: Mar 2003
Posts: 12,628
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Quote:
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Originally posted by Oerdin
There's a rumor that the fed is going to try to talk down the dollar thus making imports (the primary cause of the deflation in manufactured goods) a bit more expensive. Hopefully, that will help fight off deflation and give a nudge to the countries exporters.
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That seems as though it would be counter productive. We need to boost demand all over the world so prices will stop falling and companies will start making more profit. Falling prices of some goods aren't the problem. It's that consumers need to spend the money they are saving from the lower prices on other goods or services. When the value of the currency starts rising it becomes more likely that they will save that money instead of spend it.
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May 14, 2003, 11:28
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#50
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Deity
Local Time: 17:20
Local Date: November 1, 2010
Join Date: Mar 2003
Posts: 12,628
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Import prices falling
Here is today's report on import prices.
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May 14, 2003, 14:24
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#51
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Emperor
Local Time: 04:20
Local Date: November 2, 2010
Join Date: Apr 1999
Location: Vilnius, Lithuania
Posts: 3,565
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NICE CHARTS DO NOT AN ECONOMIST MAKE, MY YOUNG PADAWAN LEARNER 
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Originally posted by Serb:Please, remind me, how exactly and when exactly, Russia bullied its neighbors?
Originally posted by Ted Striker:Go Serb ! :doitnow!:
Originally posted by Pekka:If it was possible to capture the essentials of Sepultura in a dildo, I'd attach it to a bicycle and ride it up your azzes.
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May 14, 2003, 14:27
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#52
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Deity
Local Time: 18:20
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Join Date: Sep 2001
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Posts: 17,436
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The UK is reporting a drop in the unemployment rate today. There is no word if these people found jobs or if they just gave up or had their benifits run out.
__________________
Christianity is the belief in a cosmic Jewish zombie who can give us eternal life if we symbolically eat his flesh and blood and telepathically tell him that we accept him as our lord and master so he can remove an evil force present in all humanity because a woman was convinced by a talking snake to eat from an apple tree.
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May 14, 2003, 14:33
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#53
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Emperor
Local Time: 04:20
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Join Date: Apr 2000
Location: A pub.
Posts: 3,161
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W00t! the Israeli economy grew at 2.5% annual rate at Q1! 
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May 14, 2003, 15:12
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#54
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Deity
Local Time: 17:20
Local Date: November 1, 2010
Join Date: Mar 2003
Posts: 12,628
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Quote:
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Originally posted by Saras
NICE CHARTS DO NOT AN ECONOMIST MAKE, MY YOUNG PADAWAN LEARNER
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A nice chart makes just a nice chart. ty 
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