[lbo-talk] How bad the recession?

[123hop at comcast.net]

The answer varies depending on whether one was employed, needed health care, was retired, had a pension, etc. And of course, race matters.

Is there worse to come? Oh yes. The austerity plans are a sure recipie for a deflationary spiral.

As my ex put it, "Obama is a cross between Herbert Hoover and Marie Antoinette."

Joanna

----- Original Message ----- 
From: "James Heartfield" <Heartfield at blueyonder.co.uk> 
To: lbo-talk at lbo-talk.org 
Sent: Saturday, July 2, 2011 6:29:37 AM 
Subject: [lbo-talk] How bad the recession? 

I was arguing with a friend about this, and wondered what the view was here. 
Apart from the rhetorical arguments etc. what would listers say was the answer 

1. Have living standards fallen since end of 2008? 
2. By how much? 
3. How does that compare with recessions of, say 1980, or 1930? 
4. Is there worse to come? 
5. Are there regional differences? 

(Partly I ask because the position in Europe seems so mixed. Peripheral countries like Ireland, Spain, Portugal and Greece have suffered very much, though Germany and Britain seem pretty calm, so far.) 
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