Taking the pulse of the economy
All day across 5 Live we're reporting from around the UK on how the recession is affecting you. We've carried out a poll which suggests the majority of people think it'll be a while before the economy improves, while two thirds don't think the recession is going to get any worse.
From 9 on the phone-in join us in taking the pulse of the economy, how will you know when the recession is over?
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Podcast
5LNPI: Why did Tony Blair take Britain into Iraq? 24 Nov 09
08:48 Tue, 24 Nov 09
The former PM is among those who will have to give evidence to the independent inquiry into the build up to war. That begins today, and Mr Blair will be called in sometime in the New Year. Why did Tony Blair take Britain to war in Iraq?
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Comments
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Perhaps I might start to think that things are improving when the basic interest rates on my savings rise above 0.25%.
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The recession will be over when the Government starts to SERIUOSLY address the huge growth in public sector non-jobs. Unless they do we are doomed.
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What's the point of asking such questions as 'when will we know when the recession is over' or 'when are we going to get back to the way things are, when how things were is responsible for how things are now!
The UK economic system is bust today because the uncontested free market economic system that's been politically unchallenged for over thirty years was unprofitable and inefficient. The excessive borrowing and lending of credit by banks was all rubber stamped by all the mainstream political parties at the time in order to prevent the public from understanding the real magnitude of this political and economic failure. This is why they've subsequently bailed out the system to the tune of £1.4 Trillion for exactly the same reason.
Even if some type of economic recovery was cobbled up by bailing out banks and printing money etc it will only be short term because it doesn't address the original problem.
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My husband has been unemployed for 6 months. He has experience at director level of marketing, sales, It (setting up company websites)), training staff to use different packages and is also qualified at degree level. His problem ? Being 58.How is the economy going to improve if it casts highly qualified experienced people onto the scrapheap.My husband can't even get the kind of jobs he used to train people for.Then I read in the Times that gigantic salaries and bonuses are creeping back in the banking sector.Instead of warning people about becoming benefit cheats why doesn't the country get really strict with these greedy people who have ruined our economy and are still robbing it.
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"Capitalism has within it the seeds of its own destruction." So said Karl Marx. This recession has seen these seeds turn into shoots. Unless something is done by our elected politicians to stop the unregulated free market, then the next recession could see these shoots turn into full blooms.
It really doesn't matter who is in government any more. The writing is on the wall and if it is ignored it will be at our peril.
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The people who make the decisions on what taxes we pay are the politicians, civil servants and public sector leaders.
None of these people have experienced any hardship, reduction in salary, shorter working week or decrease in pension during the recession. In fact, their standard of living has increased because they are in secure jobs with good pensions paid for by us the tax payer and as the cost of houses, holidays, cars and other household goods have decreased they will actually benefit from the recession.
The same government workers who benefit from the recession will soon be telling us how much extra in taxes we will have to pay to fund their secure lifestyles.
Cut the size of the public sector and base our politicians, civil servants and public sector workers salaries and benefits on the wealth of the country. They have benefited during the good days, now they should feel the brunt of the recession like everybody else.
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