"FRANKFURT (MarketWatch) â?? â??Depressionâ?? isnâ??t the word usually used to describe the euro-zone economy, but it may become increasingly appropriate as hopes for a recovery give way to fears of an extended and destructive downturn that policy makers seem unable to halt.
â??Unemployment is at a record high, credit is going down, banks are failingâ?¦what do you call an economy like that?â?? said Carl Weinberg, chief economist at Valhalla, N.Y.-based High Frequency Economics and an unabashed user of the â??D-wordâ?? to describe Europeâ??s economic situation."
10 years from now, we will all be living in a national socialist state.
Strange, but I agree with orion and HH. Although I think it will be more like a Soviet/Chinese/Central/South American style Jacobin system initially that gives way to an extreme personality cult regime like in North Korea. 25 years and the vast majority will be barefoot in the rice paddies, riddled with disease and each with a little red book with a picture of the leader on the cover.
Although those who are able to read it are sent to a gulag or an oven because as Goebbel’s said, ‘intellectual activity is a danger to the building of character.’ Pol Pot agreed and had everyone who wore glasses exterminated. Add to this the increasing use and sophistication of surveillance and other technology and you get a nightmare distopian world that even Orwell, Huxley or William Gibson couldn’t even have imagined.
Funny how the Eurozone is practising the economic model of austerity and is falling in to depression. And the governrnents who have the highest taxation are the ones least effected.
[quote]Zeppelin795 wrote:
Funny how the Eurozone is practising the economic model of austerity and is falling in to depression. And the governrnents who have the highest taxation are the ones least effected.[/quote]
Funny how players that just get a shot are able to play while other players that take the time to heal properly are not.
