The Great Recession

[Jeevan]

In 2007 the world witnessed the beginnings of the economic storm which tipped the world in to recession. With economic growth now beginning to return Economist have called this last recession the Great Recession. I am intrigued to know how you as Sikhs fared in the economic downturn or are you aware how others suffered. At this point of time the USA unemployment count is 15 million from a low of 7 million, there must have been Sikhs caught up in this whirlwind? Over to you.

[.- Prabhjot Singh -.]

Gurfateh Veerjeo,

One just needs 2 rotis per meal, 2 pair of clothes and a roof to live under.. Don't think economic recession is going to have any affect on all that..

[vahegurujikifateh]

At this point of time the USA unemployment count is 15 million from a low of 7 million, there must have been Sikhs caught up in this whirlwind? Over to you.

It gave the Whites another chance to be racist again. Europe was a scientific discovering and they broke off from Asia. They have wasted alot of time searching on the outside. It is time they started following Gurmat and begin the inner spiritual journey.

When ever a recession happens even in India they just steal from the banks and loot and plunder. And when it's over the people build up again to do the same mistake.

[sall]

At this point of time the USA unemployment count is 15 million from a low of 7 million, there must have been Sikhs caught up in this whirlwind? Over to you.

It gave the Whites another chance to be racist again. Europe was a scientific discovering and they broke off from Asia. They have wasted alot of time searching on the outside. It is time they started following Gurmat and begin the inner spiritual journey.

true indeed and could well be indeed, you can see it happenning already..

When ever a recession happens even in India they just steal from the banks and loot and plunder. And when it's over the people build up again to do the same mistake.

We actually are in depression conditons however the media and governments will not mention it anywhere.

The European Union:

Looking at the European Union’s quick expansion during this past decade," one could draw a parallel to the rapid expansion which took place in the United States after it was founded.

The U.S. Civil War broke out in 1861 after the Dow Jones Industrial Average bottomed in 1860. The UK Financial Times All-Share Index and indexes from other EU nations are now in their own severe downturns.

The speculation that took place during the bull market in the 1840s for the United States and the 2000's for the EU could turn into further periods of discord as the markets turn down on the upcoming Primary third down wave of this secular bear market which started in 2000.

Both unions appeared to be strong when markets were rising. But once stocks reversed, the stress of a bear market severed those bonds quickly………

War eventually broke out among the U.S. states.

I am of the opinion that an equally perilous period may be coming for the countries of the EU.

As the conglomerate's mood turns more negative in Europe, political conflict will most likely surface and erode the ties that have bound EU nations together. The social unrest that surfaced in Europe around the March 2009 stock market low brought us just a taste of what to expect in the future when old grudges, trade disputes and financial disagreements most likely be resurrected.

Here are the first five hits on Google when you do a search of the Social unrest which took place in Europe showing how the Global recession which triggered in America played out in Europe with increasing violence, and other forms of social unrest.

Social unrest grips Europe as global recession bites

Civil Unrest in Europe

Social unrest in Europe, Britain begins to collapse

Europe's winter of discontent – Telegraph

European Protesters: Lead Indicator of Violent Social Unrest ...

We only have to look at the latest discord between Germany, other EU members, Greece and the EU Leaders

After Greece recklessly spent its way into oblivion and potentially leaving German taxpayers to help pay for a bailout, lawmakers in Berlin offered a suggestion to their profligate neighbor to the south: If you want to raise cash, why not sell off a few islands

The Greeks, furious over earlier German criticism of their spending habits, suggested the Germans could solve the problem by making reparations for gold stolen during the Nazi invasion.

"The creation and enlargement of the EU was one of Europe's biggest achievements, but now its inability to speak as one, and its failure to agree on how to tackle its underlying economic and social challenges, is undermining Europe's standing and potentially leading it into a period of decline and in my opinion its most likely demise.

After weeks of negotiations, these countries remain at odds over how to handle the single biggest issue confronting the region: the debt woes in Greece that have sparked the worst crisis in the 11-year history of the euro.

Just this Friday April 23, 2010…. Greece's request for aid showed a sharp reversal from earlier assurances that Greece did not need a bailout. Prime Minister George Papandreou called his country a "sinking ship" and requested $56 billion from the European Union and the International Monetary Fund. The request came one day after Greece revealed that its 2009 budget deficit is 13.6 percent of the Greek gross domestic product, higher than the 12.7 percent the country had originally claimed, and well over the EU's 3 percent ceiling.

This latest revelation further undermined investor confidence in Greece’s ability to make the difficult spending cuts necessary to reduce its deficit. After the announcement, Moody’s rating agency downgraded Greek bonds for the second time in the past five months, pushing interest rates on two-year Greek bonds to an astonishing 11.5 percent, nearly the same rate as for Pakistani bonds. Such high rates make it virtually impossible for Greece to raise the money necessary to make tens of billions in loan payments due in the coming weeks.

The point here is of contagion. If the Greece rescue package is a one-off so be it, but how does the EU handle the whole thing? A Greece bailout challenges the ability to handle all the risk and highlights that. A Greece rescue surely buys time…but the question is…. does it buy that time or merely lease it?”

The menace of a Greek default shows that there is something wrong in the institutional architecture of the European Union; As a result the EU now faces a dramatic dilemma. According to the Treaty a bail-out for Greece is forbidden; but if the EU does nothing, a Greek default will endanger the entire Monetary Union.

The root of the dilemma lies in the Maastricht Treaty itself for, while it established a well-designed Monetary Union, it was almost silent on the governance of the European economy

The EMU as it stands, if not followed by an Economic Union, risks creating a harsh level of political divergence among its members – witness the present tension between Germany and Greece – which could lead to its eventual collapse.

We are still in a bear market. Those who say otherwise would do well to remember what happened in 2007, before the downward trend began. It was the first down leg of Primary cycle wave one of this secular bear market which started in 2000…. we are presently in the final stages of primary second wave up correcting the drop from this Primary cycle first down wave….when the third Primary cycle down wave begins …it will be the most fowl most destructive and most deflationary wave we will experience in our lifetime.

And finally just check the last times we had hung parliaments in the UK , 1929, 1974'sh around the oil crisis, we are due one now and will get it, watch this space....

[mskcan]

'I discovered that when I believed my thoughts, I suffered, but that when I didn't believe them, I didn't suffer'.

[das_1]

as thigns get worse i think WW3 will be the result

[guruvah]

I only realized it was recession after my mom and sis started making noise that,

"The prices of goods are going UP!!!!! :o :o :o :o :o " (repeated like 21 times in 4 days)

Then I asked them, "Are we in recession?"

Their reaction Mata Ji>>> :o (in disbelief) Sister>>> <_< <_< <_<

vahiguroo :happy:

[.- Prabhjot Singh -.]

hahaha nice one!

[guruvah]

'I discovered that when I believed my thoughts, I suffered, but that when I didn't believe them, I didn't suffer'.

very well said.