why is the economy in depression?
DESCRIPTION
Part of the series: "Instructional guides for desperate times". Explaining complex economic issues in a simple way. This is an A4 page that is folded into a mini comic, following these instructions: http://davemiller.org/art_blog/?p=852TRANSCRIPT
Peo
ple n
o lo
ng
er trust th
e econ
om
ic system
, makin
g an
econ
om
ic reco
very imp
ossib
le.
Th
ey aren’t sp
end
ing
, bu
t are in
stead “keep
ing
their p
ow
der d
ry” u
ntil th
e rule o
f law an
d free m
arkets are resto
red.
Peo
ple kn
ow
– either co
nscio
usly
or b
elow
the su
rface – that w
e have
socialism
for th
e rich, an
d th
at the
little gu
y do
esn’t h
ave a chan
ce.
Fo
r lastest gu
ides an
d n
ews p
lease visit m
y blo
g:
http
://davem
iller.org
/art_blo
g
LO
W C
ON
FID
EN
CE
Consum
er confidence that the governm
ent is doing the right thing to fix the econom
y is extrem
ely low.
WH
Y?
Largely because the rule of law has
broken down, and fraud is so ram
pant - and actually sanctioned by the governm
ent - that it has become
“the business model” of B
anking and F
inance.
JO
B C
EN
TR
E P
LU
S
IN T
HE
OT
HE
R E
CO
NO
MY, E
VE
RY
ON
E
EL
SE
IS G
ET
TIN
G P
OO
RE
R
The rest of the econom
y, small
business, small banks, and a
very significant amount of the
labour force, is stuck in
tragic,
lon
g-term
un
emp
loym
ent.In
the last few
mo
nth
s in
the U
K, th
ere are 80,000 m
ore
un
emp
loyed
, 20,000 m
ore claim
ing
b
enefits.
Th
is is pu
lling
the
econ
om
y apart.
Big issue ...
50
%
Th
e to
p 0
.1%
are
cu
rren
tly
acti
ng
like
p
aras
ites
, ste
alin
g t
he
mo
ney
fro
m t
he
rest
of
the
po
pu
lati
on
. Th
e g
ian
t in
solv
ent
ban
ks -
wh
ich
are
rec
eiv
ing
tr
illio
ns
in b
ailo
uts
, gu
aran
tees
an
d
op
po
rtu
nit
ies,
are
no
t le
nd
ing
to
sm
all
bu
sin
esse
s.
Wha
t an
insu
lt to
th
ose
stru
gglin
g to
m
ake
ends
mee
t
PA
RA
SIT
ES
Th
e To
p t
ax r
ate
of
50%
is li
kely
to
be
CU
T.
The
se p
eopl
e ar
e fa
r to
o im
port
ant t
o th
e ec
onom
y
Th
ere
HA
S b
een
a s
ign
ific
ant
reco
very
fo
r h
igh
-in
com
e in
div
idu
als
...…
Lar
ge
ban
ks a
nd
larg
e co
rpo
rati
on
s ar
e in
E
XC
EL
LE
NT
sh
ape.
Ban
kers
Bon
uses
are
£1
4 B
illio
n af
ter
bailo
uts.
T
he a
vera
ge C
EO
an
d ba
nker
pay
is
234
tim
es
aver
age
pay.
Th
e R
BS
CE
O r
ecei
ved
a £
7.7
mill
ion
b
on
us
for
reco
rdin
g a
£1
bill
ion
an
nu
al lo
ss in
a c
om
pan
y 84
%
ow
ned
by
the
Bri
tish
tax
pay
er.
IN O
NE
EC
ON
OM
Y, T
HE
TO
P 0
.1%
AR
E G
ET
TIN
G R
ICH
ER
AN
D R
ICH
ER
... c
ourt
esy
of g
over
nmen
tha
ndou
ts, f
raud
and
bad
go
vern
men
t pol
icie
s.
and
we
dese
rve
it
BE
CA
US
E
TH
ER
E A
RE
R
EA
LLY
TW
O
EC
ON
OM
IES
A
T W
OR
K!W
HY
IS
TH
E
UK
E
CO
NO
MY
S
TU
CK
IN
AD
EP
RE
SS
ION
?
Instru
ction
al gu
ides fo
r desp
erate times
Dave M
iller. Sep
t 2011