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#1
The global economy is on the verge of a new and deeper jobs recession that may ignite social unrest, the International Labour Organization (ILO) has warned.

It will take at least five years for employment in advanced economies to return to pre-crisis levels, it said.

The ILO also noted that in 45 of the 118 countries it examined, the risk of social unrest was rising.

Separately, the OECD research body said G20 leaders meeting in Cannes this week need to take "bold decisions".

The Organisation for Economic Co-operation and Development said the rescue plan announced by EU leaders on 26 October had been an important first step, but the measures must be implemented "promptly and forcefully".

The OECD's message to world leaders came as it predicted a sharp slowdown in growth in the eurozone and warned that some countries in the 17-nation bloc were likely to face negative growth.

http://www.bbc.co.uk/news/business-15519699

Bad news everybody. If you believe the ILO. You guys worried about your jobs/future jobs prospects?
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#3
ILO WHOOP WHOOP
Quote by jakesmellspoo
ooh look at me i'm ERIKLENSHERR and i work at fancy pants desk jobs and wear ties and ply barely legal girls with weed and booze i'm such a classy motherfucker.
#5
Quote by captaincrunk
Get Crunk up in this bitch! **** yo jobs!

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#8
I hope this isn't true, I'm just finally getting my head above water from my last layoff.


I'm really, really getting tired of this shit.
XBOX LIVE Gamertag: Jazz Funeral
Currently killing with The Nunts crew in Max Payne 3

Quote by Weaponized
ON LIGHTNING.
#10
Wait, you mean halting economic stimulus as soon as your bankster buddies feel safe again doesn't help create/keep jobs? Well I'll be darned.
#11
I have a good paying job, so I have no reason to care about this....for now.
I can only listen to so many breakdowns and "spoken word" vocals before I wanna puke.

I find Jennette McCurdy attractive, but Elizabeth Gillies and Debby Ryan much more so.

That's enough, Djent people. We get it.
#13
Because I live in a more or less third world country where I was only able to get a job because of a relative, I am worried.

If I can't get a job after my current contract ends, I will be forced to probably kill myself.
The content of this signature is pretty much irrelevant
#14
I'm not even going to pretend to know anything about what's going on, but I think this is going to be the last straw for a lot of people, and major shit will go down. Like, more major than what's going down. Big news for fans of change, I guess.
#15
Quote by TextOnTheScreen
I'm not even going to pretend to know anything about what's going on, but I think this is going to be the last straw for a lot of people, and major shit will go down. Like, more major than what's going down. Big news for fans of change, I guess.

I fucking love specifics.
#16
Quote by due 07
Wait, you mean halting economic stimulus as soon as your bankster buddies feel safe again doesn't help create/keep jobs? Well I'll be darned.

The 'economic stimulus' was never intended to create or maintain jobs. The titanic amount of cash simply given to the elite fatcats and banksters was given purely to prop up the banks, and for the financial aristocracy to sustain its own headlong destructive rush for personal aggrandisement (which is precisely what they have done - awarded themselves bigger and bigger bonuses and enriched themselves at the direct cost of the taxpaying working class), with only the barest of provisos that the banks begin lending again - which has simply not happened.

A REAL economic stimulus package would not bail out the banks. A REAL government of the people would let the fatcats carry out their horrified threats of fleeing to a friendlier country - let them go! What have they done for us but bled our people dry and lived disgusting decadent lifestyles off the backs of workers? A REAL solution to the crisis would be for the government to put failing businesses, such as Bombardier in Derby, Forgemasters in Sheffield, or BAE in Hull, under the democratic control of the workers who work there and the people of the local community so that they can provide meaningful, socially useful employment, and to run the banks as social institutions for the interest-free provision of money to small businesses.

But again, a real solution is not forthcoming. The capitalist class's only answer is to endebt countries like Greece even further through larger and larger bailouts, reaping fat profits from the extortionate interest. Why? Because the current governments of the world ARE the bankers, they ARE the gambling casino-hedge fund managers, they ARE the people who are growing richer by the day by exploiting this crisis of capital.

We are not our government; indeed the ruling class has interests which are diametrically and irreconcilably opposed to those of the other 99% of society. And that is plain and simply wrong.

One solution. Revolution.
Last edited by Kumanji at Oct 31, 2011,
#17
Well I'm already failing to get hired so I guess it can't get any worse.
#19
Quote by Kumanji
*swag*

Eloquently put. Glad that you're posting again, mang.
#20
Fuck that shit! RECESSION PARTAAAY HEEEEYYYY
Just a sub-par guitar player..

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#21
Quote by Kumanji


A REAL economic stimulus package would not bail out the banks. A REAL government of the people would let the fatcats carry out their horrified threats of fleeing to a friendlier country - let them go!

Yeah! a REAL economic stimulus would have let the country's AVERAGE PEOPLE'S savings disappear in a massive bank rush ala late 1920s!


[IN PHIL WE TRUST]


Quote by Trowzaa
I only play bots. Bots never abandon me. (´・ω・`)

#22
I'm not sure how I feel about all this revolution talk and general social unrest. Obviously the status quo is fucked, otherwise we wouldn't be here talking about this. But there is a big difference between "I'm seriously unhappy about the gap between classes" and a whole society banding together and demanding social upheaval. We see it on the news often, 3rd world countries constantly fighting religious persecution, western nations occupying and meddling in their affairs for what is by and large their own personal gain and we all shake our heads and feel sorry for all the poor bastards in the world.

But this is something completely different. We've been through a difficult period relative to our other developed nations with the recession, economic downturn and so on. But now the people who previously written off as loons and political extremists are gaining significant support. I'm starting to feel that there is genuine unrest among a vast majority of our generation and if the OP does indeed come into fruition, it could just be the final straw.

I don't know whether to feel happy, sad, angry or what. All I know is it's making me rather anxious and for the first time in many of our comfortable lives, our future suddenly isn't so certain.
I want to read your essays and blogs of the artistic nature!


Art evokes the mystery without which the world would not exist.

- Rene Magritte
#23
Quote by SteveHouse
Yeah! a REAL economic stimulus would have let the country's AVERAGE PEOPLE'S savings disappear in a massive bank rush ala late 1920s!



The banks already gamble with your money, there's not a whole lot of difference.

Honestly, talk to anyone from the Great Depression, and they'll say that yes... things were awful. Drastic measures were taken and living conditions were awful for years. But there was also a sense of hope in the country. That the United States will overcome the depression and become prosperous once again. There wasn't an attitude of doom and gloom as if the United States would never get out of their crisis.

Today, there isn't really any hope, because all the arrows point to the perpetuation of the system. No one in charge wants anything to change. There is no Theodore Roosevelt in front of the country, fighting to get America on it's feet. In today's crisis, if we actually want this system to stop before this polarization of society gets to a George Orowell extreme, the United States and the Occupy movement is going to have to reach a level of organization equal to that of Libya and Egypt.

Which is why this is so depressing. Unless we get up and fight, which I'm sure is going to happen some time (relatively) soon, we will all continue to be victims of this perpetual system.

Also, this.

http://www.youtube.com/watch?v=jTW0y6kazWM
"The future's uncertain, and The End is always near."
-Jim Morrison
Last edited by SlinkyBlue at Oct 31, 2011,
#24
Quote by Kumanji
The 'economic stimulus' was never intended to create or maintain jobs. The titanic amount of cash simply given to the elite fatcats and banksters was given purely to prop up the banks, and for the financial aristocracy to sustain its own headlong destructive rush for personal aggrandisement (which is precisely what they have done - awarded themselves bigger and bigger bonuses and enriched themselves at the direct cost of the taxpaying working class), with only the barest of provisos that the banks begin lending again - which has simply not happened.

A REAL economic stimulus package would not bail out the banks. A REAL government of the people would let the fatcats carry out their horrified threats of fleeing to a friendlier country - let them go! What have they done for us but bled our people dry and lived disgusting decadent lifestyles off the backs of workers? A REAL solution to the crisis would be for the government to put failing businesses, such as Bombardier in Derby, Forgemasters in Sheffield, or BAE in Hull, under the democratic control of the workers who work there and the people of the local community so that they can provide meaningful, socially useful employment, and to run the banks as social institutions for the interest-free provision of money to small businesses.

But again, a real solution is not forthcoming. The capitalist class's only answer is to endebt countries like Greece even further through larger and larger bailouts, reaping fat profits from the extortionate interest. Why? Because the current governments of the world ARE the bankers, they ARE the gambling casino-hedge fund managers, they ARE the people who are growing richer by the day by exploiting this crisis of capital.

We are not our government; indeed the ruling class has interests which are diametrically and irreconcilably opposed to those of the other 99% of society. And that is plain and simply wrong.

One solution. Revolution.


I'm pretty sure that bailing them out is more so they don't cut expenses by rapidly and desperately firing workers. You seem to be using overly dramatic language here.

EDIT: ^ I don't think you guys realise that poorer people are going to be the ones in more trouble if the entire economy were to collapse.
Chelsea FC



Quote by Blues Hippie
As for the swim team member that drowned, it just means the swim team just got a lot better. Same with him too, it's time to move on, the weakest link is gone...
Last edited by TOMMYB22 at Oct 31, 2011,
#25
Quote by TOMMYB22
I'm pretty sure that bailing them out is more so they don't cut expenses by rapidly and desperately firing workers. You seem to be using overly dramatic language here.


He's using dramatic language because it was a dramatic situation, though.

It wasn't to prevent layoffs, it wasn't to keep job security, it was to keep the bank in business so the People who use the bank to store their money don't lose their life savings.

Meril Lynch, Goldman Sachs, JP Morgan Chase would all be out of business and the people in those banks would have lost their money entirely.

At the time, there was mediocre support for it. But the thing is, it's been 4 years now, and people are literally just now beginning to understand what is happening. We live in incredibly interesting times.

You and I can invest capital to see returns. We might make huge profits in a business if we do it right, or we could lose everything. The difference between me and you, and Goldman Sachs, is that they can make whatever investments they want... most of their profits being from highly complex currency manipulations... and if they fail, they are reimbursed by the government. They can risk all of their money without risking anything, because you and I are there to back them up if they are irresponsible with their money.
"The future's uncertain, and The End is always near."
-Jim Morrison
#26
Quote by TOMMYB22
I'm pretty sure that bailing them out is more so they don't cut expenses by rapidly and desperately firing workers. You seem to be using overly dramatic language here.

EDIT: ^ I don't think you guys realise that poorer people are going to be the ones in more trouble if the entire economy were to collapse.

What a titanic red herring. That's precisely what the average banker would want us to believe - that they are indispensable, that if we do not continue to bail them out and support their continued exploitation of workers, then Atlas will drop the heavens and the mountains will crash into the sea.

Nothing could be further from the truth. The financial aristocracy is parasitic; that is to say that it exists purely as a consumer of the labour of working people, and produces nothing of value for the workers in return. That has not always been true; when capitalism was prosperous and workers were strongly united in unions, the capitalist class conceded social provisions for workers such as the NHS; but for the last 30 years of huge capitalist financial expansion, workers wages have remained steady or fallen, and social provisions have been slowly eroded with the smashing of union power by successive governments.

Are you seriously saying that workers, who know their jobs by far the best in society, are incapable of operating without slave-drivers and capitalists to cream off the surplus value of their labour? Getting rid of the capitalist class and creating a socialist society organised on the principles of democracy, accountability and representation at all levels would enter humanity into a golden age.

EDIT: For the record, I don't want a banking 'crash' because you're right, that would be disastrous. I want governments to nationalise the banks AND their funds, and run them as social institutions. But, as I say, this option is always drowned out by the self serving, doom-laden clamourings of the financial doyens - either you give us tons of money or you burn.
Last edited by Kumanji at Nov 1, 2011,
#27
Quote by due 07
Wait, you mean halting economic stimulus as soon as your bankster buddies feel safe again doesn't help create/keep jobs? Well I'll be darned.

It's still helpful for them in the long run though, filters money up. You can pay people really badly if everyone is desperate for a job, any job.
#28
Quote by Zoot Allures
It's still helpful for them in the long run though, filters money up. You can pay people really badly if everyone is desperate for a job, any job.

Mhmm. The massive layoffs will surely create a strong downward pressure on the wages of existing jobs.
#29
Clearly the solution is to nationalise ~everything~
| (• ◡•)| (❍ᴥ❍ʋ
#31
Quote by TOMMYB22
I'm pretty sure that bailing them out is more so they don't cut expenses by rapidly and desperately firing workers. You seem to be using overly dramatic language here.

EDIT: ^ I don't think you guys realise that poorer people are going to be the ones in more trouble if the entire economy were to collapse.

So much this.

Quote by Kumanji
EDIT: For the record, I don't want a banking 'crash' because you're right, that would be disastrous. I want governments to nationalise the banks AND their funds, and run them as social institutions. But, as I say, this option is always drowned out by the self serving, doom-laden clamourings of the financial doyens - either you give us tons of money or you burn.

Whilst I don't think that nationalising the banks is a horrible idea; I'd be a bigger fan of having them a) just more regulated, or b) a mixture of public and private banks.
RIP Gooze

cats
#32
Quote by Cianyx
Clearly the solution is to nationalise ~everything~

To be read in the voice of the President of Madagascar.

But seriously, bringing everything under central state control is neither desirable nor indeed necessary. Workers' councils are the basic economic unit of socialism.

Quote by mulefish
Whilst I don't think that nationalising the banks is a horrible idea; I'd be a bigger fan of having them a) just more regulated, or b) a mixture of public and private banks.

a) Tch, yeah that really worked. The banking system has subordinated the political system to itself; regulations that had been in place for decades have been eroded by the ascendance of financial power, such as the separation of savings and investment banking - the capitalist system worked tirelessly day and night to circumvent legislation and cheat the system. The bankers could not abide the limits on their activities and their accumulation of profit! Regulations imposed on the capitalist financial system may seem to work for a while, but will eventually be demolished by the financiers.
b) There are already many banks worldwide that are owned by governments, but again the governments of all countries are, at worst, mouthpieces of the financial establishment, and, at best, those who entirely share the class outlook (if not the social background) of the financiers. The only way to make sure that the banks behave in the way we want them to is to put them under full control of the people who run them and the people they serve, through the election of accountable representatives at all levels of operation.
Last edited by Kumanji at Nov 1, 2011,
#33
Not worried one bit about my career. It's guaranteed for 6 years with the possibility of re-enlistment.
I'm rgrockr and I do not approve of this message.
#34
Quote by SlinkyBlue
The banks already gamble with your money, there's not a whole lot of difference.

You have some basic knowledge. Good. Now let's add some wisdom on top of that. The banks are required to keep a certain percentage of their funds in cash and can use the rest to make loans. That's fine because, in a world where banks are rock solid entities, nobody's afraid they won't get that money back and running to the bank to take it out before it's gone. That happened in the Depression and would absolutely happen today if a bank I had any money in was failing. I'd be all over my shit before everyone else got it, and it's pretty easy to imagine you would too. We can extrapolate that to business all we want and use the resulting narrative of evidence of the class war, but in this case, nah dawg. Letting the banks fail = nobody has any money anymore because the percentage that were able to get their cash out have bankrupted the system.

Yes it's a deeply flawed system, and that possibility right there is exactly why entities like the FDIC exist, and I'd even agree that even that is just a mask on a much uglier problem (namely the banking for profit model, or more generally the making money off money model our country specializes in). The way to adjust that is absolutely not to cause a run on the banks, however.

[IN PHIL WE TRUST]


Quote by Trowzaa
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#35
Well I wasn't going to have any job prospects when I got done with university anyway so I guess this doesn't affect me that much
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#37
Quote by Kumanji
a) Tch, yeah that really worked. The banking system has subordinated the political system to itself; regulations that had been in place for decades have been eroded by the ascendance of financial power, such as the separation of savings and investment banking - the capitalist system worked tirelessly day and night to circumvent legislation and cheat the system. The bankers could not abide the limits on their activities and their accumulation of profit! Regulations imposed on the capitalist financial system may seem to work for a while, but will eventually be demolished by the financiers.
b) There are already many banks worldwide that are owned by governments, but again the governments of all countries are, at worst, mouthpieces of the financial establishment, and, at best, those who entirely share the class outlook (if not the social background) of the financiers. The only way to make sure that the banks behave in the way we want them to is to put them under full control of the people who run them and the people they serve, through the election of accountable representatives at all levels of operation.

Oh please. Just no. You don't need to exaggerate everything to the point where you are trying to whip people into revolution. From my knowledge [not that great on the US, I'll acknowledge], the government has been deregulating the banking system for quite some time. Teamed with poor monetary management from the federal reserve it was an accident waiting to happen. It's poor governance rather than financial sector power.
RIP Gooze

cats
#38
CNN called. they want their panic back.
Quote by BlackVoid
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#39
I don't get why people all blame the bankers for this. It's YOU that give them money so they can do whatever they want.
If you don't like what bankers are doing go to an ethical bank.
Gear:
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#40
Quote by niels-uiterwaal
I don't get why people all blame the bankers for this. It's YOU that give them money so they can do whatever they want.
If you don't like what bankers are doing go to an ethical bank.

Because those are easy to find. Like jobs. They're just raining from the sky.
I think it's time for a change.



Sig v5.0 (approximate)
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