tag:blogger.com,1999:blog-4527523026218076910.post3878160017526625312..comments2023-03-31T13:13:21.109+01:00Comments on The Anglesey Telegraph: The state we are in, and of the economy.Rhys Williamshttp://www.blogger.com/profile/01063335760224613528noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4527523026218076910.post-69897545079612984772012-06-27T09:31:27.408+01:002012-06-27T09:31:27.408+01:00So, here we are, 4-5 years on from the start of t...So, here we are, 4-5 years on from the start of the crash (dependent on which side of the Atlantic you live).<br /><br />Over 80% of the cuts have yet to be even announced let alone put in place. Of the ones that have been announced most have yet to be enacted.<br /><br />Tens of thousands of public sector workers have lost their jobs as have tens of thousands of private sector workers. <br /><br />King has announced the current economic situatuation will continue for at least another 5 years and many serious economists and economic think tanks are saying at least another decade and adding that we haven't hit the worst yet.<br /><br />We have trapped ourselves into an economy that relies on consumer spending in order to grow whilst at the same time employers are saying pay freezes (and even pay cuts) are to continue.<br /><br />Low interest rates are destroying peoples savings and destroying the future pensions of the DC schemes that the current workforce are in.<br /><br />And even the main stream tory voters no longer believe that No10 is going in the right direction.<br /><br />A couple of years ago I read a very complex article about all this in which the author believed that ther will be no recovery in the west. That we in the west are going to live through a period of severe economic decline and a big reduction of living standards until we reach 'parity' with the developing economies of Asia. He further added that politicians would be faced with 2 choices - do it quickly and get it over and done with (accepting the severe civil and political unrest it would spark), or do it slowly over 2-3 decades so that people grew into it and didn't notice it so much.<br /><br /><br />savepenrhos.co.ukAn Eye On...https://www.blogger.com/profile/08811559231632281053noreply@blogger.com