Riga - the capital of Latvia. The biggest city in Baltic States
Tuesday, 28 October 2008
What happens in economic downturn
It is affecting many people and businesses all over the world. Retail figures are suffering and shops are trying to encourage shoppers with discounted sales.
4 comments:
Anonymous
said...
Our country is also suffering a lot and many people have lost their retirement incomes. I think it is all about greed and people who play without people's money. Now, the rest of the world is paying for their foolishness.
I do like your photograph very much.
Is the price of your food going up or higher or is it something else that is causing problems. Here it is also that people are losing their jobs.
Retirement moneys are not lost... yet, prices are going up as well and unemployment is slowly, but steadily rising.
My guess is February will be the worst first month.
You are right about robbing. See, money has not vanished (it has not been burnt or eaten or something) -it has been transfered form your pocket to the pockets of some very small group of wise and rich people:)
Aigars, if you get a big downturn with layoffs, lost savings etc, do you think that the Baltic states will react differently than (for example), Portugal?
I'm wondering if there is any dormant anti-capitalist feeling that might be a hangover from the Soviet-dominated era.
My gut says that people don't have too many fond memories and will just roll with the punches, but I was wondering what someone on the ground might think.
In Soviet times people mastered their self-sufficiency skills at the highest level. Density of Latvia is very low and there is plenty of the ultimate resource for survival - land.
In the worst, worst, wooorst case scenario people will be unable to spend and will have to refresh their self-sufficiency skills.
I fear mostly for the families (particularly elderly people) with no land.
Also the crime will be the ultimate issue (it is rising already)
4 comments:
Our country is also suffering a lot and many people have lost their retirement incomes. I think it is all about greed and people who play without people's money. Now, the rest of the world is paying for their foolishness.
I do like your photograph very much.
Is the price of your food going up or higher or is it something else that is causing problems. Here it is also that people are losing their jobs.
Retirement moneys are not lost... yet, prices are going up as well and unemployment is slowly, but steadily rising.
My guess is February will be the worst first month.
You are right about robbing. See, money has not vanished (it has not been burnt or eaten or something) -it has been transfered form your pocket to the pockets of some very small group of wise and rich people:)
It will not make them more happy - trust me:D
Aigars, if you get a big downturn with layoffs, lost savings etc, do you think that the Baltic states will react differently than (for example), Portugal?
I'm wondering if there is any dormant anti-capitalist feeling that might be a hangover from the Soviet-dominated era.
My gut says that people don't have too many fond memories and will just roll with the punches, but I was wondering what someone on the ground might think.
In Soviet times people mastered their self-sufficiency skills at the highest level. Density of Latvia is very low and there is plenty of the ultimate resource for survival - land.
In the worst, worst, wooorst case scenario people will be unable to spend and will have to refresh their self-sufficiency skills.
I fear mostly for the families (particularly elderly people) with no land.
Also the crime will be the ultimate issue (it is rising already)
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