British Economy Is WORSE than During the Great DepressionSubmitted by go213mph on Sun, 01/27/2013 - 22:07
Royal Bank of Scotland Says Worst Economy Since Before Queen Victoria Was Crowned. Ministers today admitted Britain is facing “very, very grave difficulties” after figures showed the economy did not grow at all in 2012.
“It’s the worst economic performance since at least 1830, outside of post-war demobilisations,” he told The Daily Telegraph. “It’s worse than the 1920s, it’s worse than the Great Depression.”
The top economist at RBS, which is mostly owned by the Government, said it is difficult to recover when much of the world is facing similar problems. “It’s the scale of what happened in 2008 but also the build-up to that,” he said. “Compared with other recessions [like in the 1980s and 1990s], this is happening all over the world. There’s not a quick and easy way to export your way out of this.”
This isn’t an issue of left versus right … it’s corruption and bad policies which help the super-elite but are causing a depression for the vast majority of the people.