Recession. Remember that word? You used to hear it a lot back in the eighties. You'd have to be living in the deepest depths of ignorance not to have seen or heard something about the state of the world economy. We are now hearing that the US economy has been in recession since at least December 2007. Our local papers are now touting the latest figures showing a slump in economic growth in China. That's out there, here we're seeing the signs slowly but surely. Stores are saying that sales are slow, contractors and others are laying off staff even while the huge buildings keep going up around us. Strangely enough, the Governor of the Central Bank of TnT is silent, he who has been so vocal about the subject for the past two years. For a while, Mr. Williams was the lone voice crying out in the wilderness of spend, counseling prudence, savings etc. His bold stance has at least been vindicated.
The distinctive voice of Steve Perry filled the car and for a brief moment I was teenager again, back in that time machine prompted by memory. I well remember the eighties and the recession where people dropped their house keys off at banks and fled the country to escape loans. As Journey belted out "Don't Stop Believin", that arena rock feel good standard, I thought fondly of the vinyl version of the album that I once owned. It took me working a month of Saturday's to buy it but I about wore out the grooves on our old record player. Makes you think. Two days ago I had a conversation about some recently returned graduates who were grousing about working in the OJT programme because they thought it was "beneath" their standing as university graduates, the figured they were entitled to bigger salaries and interesting jobs. It was laughable, because in recession, any job is better than no job, especially without job experience. Sadly, they too will learn the hard way what recession means.
Last week the X-Man was in the States on family business, while there he hit the shops and came back with stories of the Black Friday excess that obtains in the US. It was horrifying to hear some of them. I hadn't planned on writing about the Walmart tragedy, or even the Kmart shooting. All I can say is that I don't want anything that bad. I don't care how large the savings are, is that big screen TV or some more cheap clothes worth someone's life. I think not. Makes me wonder about people's values, life is getting harder and you still want all the trappings of conspicuous consumption. What's that all about? It's hard to understand that on one hand we're all be exhorted to save etc and banks are still offering "suckeye" or "leeeway" loans. You NEED those new curtains why? Thanks, mine will be staying up until they fall apart. I need new furniture why? So that Zeus can lie around on it all day while I slave away to pay for it for the next two years. He's happy with the daybed we have now, okay, maybe a new throw cover but that's easy enough to stitch up.
Recession. Here we are again.