"a recession isnt the end of the world. its just negative growth."
Think of how much harm the 'Great Depression' gave the world. It wasn't the end for all, but it was for many, particularly the ones that committed suicide. Like all the Banksters that were also 'suiciding' a couple of years ago. It was the end of the world for them.
Now look at Japan, 25 years of stagnation, Their CB and gov't are throwing everything at it to no avail. Only worsening. The Nikkei was near 40k in 1991 now still 60% lower at 16k.
No that's still not the end of the world, but if things don't start improving, or worse still, only getting better by the doctoring of numbers, it may just be the end of the world for many. EG. The babyboomers in many part of the world who are on the verge of retirement. Superann. is a newish industry, and many worldwide don't have much, so who is going to provide it if growth doesn't get a spurt, the USGov't is overcommitted to the tune of $???T. Who is going to adequately provide their healthcare? Even their food and housing?
If something isn't corrected soon, it will be the end of this world for many IMO.
Meanwhile, instead of producing anything of substance we have all these banksters and bean counters looking for ways of deceiving people and numbers, so they can hide their greed.
I read some years ago, just before GFC, that in the US the banks employ 5% of the workforce, are responsible fot 7% of the MC of US companies, yet are responsible for over 50% of the US profits. I wrote at that time, 'How can a nation keep going and growing with that philosophy? Where is the production and manufacturing?'
And we're worse than ever now. What does Walmart say to their employees who don't get enough to rear up their family? "Apply for food stamps".
