Enjoy your weekend.
Day 642
For the purposes of this blog, the inception of the Great Recession in the U.S., the epicentre of the crisis, is taken as the start date for the global slump. The U.S. has been in recession since December 2007.
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Day 642
For the purposes of this blog, the inception of the Great Recession in the U.S., the epicentre of the crisis, is taken as the start date for the global slump. The U.S. has been in recession since December 2007.
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David Olive is a business and current affairs columnist at the Star, which he joined in 2001 after stints at the Globe and Mail, National Post and Financial Post.
"If all economists were laid end to end, they would not reach a conclusion."
- George Bernard Shaw
Welcome back to a new week Mr. Olive.
Compliments on your treeware column today (which sadly, is not set to receive comments.)
However, while touching on the subject of the high rate of youth unemployment - you touched on the numbers of the current generation out of work in the UK (1 million).
What you barely touched on - was the consequences of interminable and hopeless unemployment in youth - such as the lost generation in the UK that was the consequence of Margaret Thatcher's economic policies - started with her fight to the death with the Coal industry and the coal mining unions - which shut down whole communities - much as is happening here in Canada in mining and forestry.
Posted by: Wascally Wabbit | 08/30/2009 at 10:00 AM
Hi WW: Thanks for your note. Yes, her attack on coal and steel, and the privatization of BA, British Steel, and on and on. I think her tenure's lasting legacy is the expression then coined, "Tory Times Are Tough Times." Chief challenge for all traditional industrial nations is how to create new economies capable of generating decent jobs to replaced those millions lost in traditional manufacturing. This is why we could be in for another "jobless recovery," as U.S. experienced during first term of Bush, when post-9/11 economy generated fewer new jobs than any president since Hoover.
Posted by: David Olive | 08/30/2009 at 02:34 PM