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The current global recession is "the most serious for over 100 years", cabinet minister Ed Balls has said.
Mr Balls, a former economic adviser to Gordon Brown, said it was "more extreme and more serious than that of the 1930s", the Yorkshire Post reported.
Originally posted by sty
Well, last year this time all the politicians would shout " there will be no recession" and it happened. Then " it will not be a big one" and it was . Now they claim : " the impact on ordinary people would be worse than that experienced during the Great Depression of the 1930s. " .. well, if they allways lied about the economy why would we thrust them now? my opinion: this is actually public warning in a "secret" way. "They" allways told us what is going to happen!
Originally posted by uk today
History is repeating itself---------this depression is mirroring the great depression and Ed Balls is afraid of the resurgance of the far right ,the BNP.