‘This is the worst recession for over 100 years’?

 Another council of dispair?  Unless we recognise soon that talking up our symptoms blinds us to our addiction, the profligate and hugely ineffective use of energy and other resources, our society is doomed.

Our failure to educate ourselves to be creative and to understand the risks and probable cost of external quality failure has, if we let it, terminally compromised the quality of life we can look forward to.

In addition, our failure to evolve our democratic institutions to be proactive in the rapidly changing world we face, is our biggest immediate challenge in the West, as it constitutes the core of the media ‘game and industry’. Squandered ingenuity in pursuit of the ‘what if’.

We are at war with our insatiable desire to consume and the ‘One Planet Equation’. We either finds creative and ingenious ways of reducing our intensity of resource use per unit of consumption, per capita, or the earth will make the adjustment for us, not benignly or fairly.

The opportunities available to us if we educate and organise ourselve for the low carbon, resource constrained world that is coming are boundless.

It will be a different world and our enjoyment will have to be found in different things, our families and friends and the simple, more local things in life.

Of course, some conspiracy theorists might argue that there is a global ruling elite that sees it can live quite comfortably in such a future, warmer and population relieved world.




‘This is the worst recession for over 100 years’

Britain is facing its worst financial crisis for more than a century, surpassing even the Great Depression of the 1930s, one of Gordon Brown’s most senior ministers and confidants has admitted.

In an extraordinary admission about the severity of the economic downturn, Ed Balls even predicted that its effects would still be felt 15 years from now. The Schools Secretary’s comments carry added weight because he is a former chief economic adviser to the Treasury and regarded as one of the Prime Ministers’s closest allies.

Mr Balls said yesterday: “The reality is that this is becoming the most serious global recession for, I’m sure, over 100 years, as it will turn out.”

He warned that events worldwide were moving at a “speed, pace and ferocity which none of us have seen before” and banks were losing cash on a “scale that nobody believed possible”.

The minister stunned his audience at a Labour conference in Yorkshire by forecasting that times could be tougher than in the depression of the 1930s, when male unemployment in some cities reached 70 per cent. He also appeared to hint that the recession could play into the hands of the far right.

“The economy is going to define our politics in this region and in Britain in the next year, the next five years, the next 10 and even the next 15 years,” Mr Balls said. “These are seismic events that are going to change the political landscape. I think this is a financial crisis more extreme and more serious than that of the 1930s, and we all remember how the politics of that era were shaped by the economy.”

continued at http://www.independent.co.uk/news/uk/politics/this-is-the-worst-recession-for-over-100-years-1605367.html


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