Mish's Global Economic Trend Analysis: Worst Recession In 100 Years:
comments by Ed Ball,
"Ed Balls, the PM's closest ally, warns that downturn is ferocious and says impact will last 15 years.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...."
"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.'"
So make your energy and life style plans to survive for the next 15 years............ or so. Going Green can be a 15 to 20 year investment. Now is the time to get going with it! by Norton.
Courtesy of Martin's Capital http://www.martincapital.com/chart-pgs/Ch_sales.htm
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