Week 9

Economic crash headline 26.05.11

Follow this link to the Telegraph to read today's headline about another eeconomic crash

'Vince Cable: Britain faces another economic crash'

Looking through history at the unfolding of past incidents of economic crisis, such as the Wall street crash we can see mirrors of what is occurring today. The second part of the Wall street crash happened several years after initial events and at this point people realised that things were getting worse and people started to react and the full impact and of the extent of the crisis became clear. Now, as Vince Cable makes today's headlines, we mirror the events of the wall street crash, as understanding and impact starts to become clear three years after initial events take place. Looking at what Vince cable is saying, it would suggest that the British public have not fully understood how deep the current economic crisis is and how big the impact will be. We currently have strikes and riots affecting most of Europe, and in a period of the last 12 months we have witnessed, not banks going bankrupt, but nations going bankrupt. The people being asked to pay are the working people of these separate nations. I think the next stage of the crisis is literally just about to unfold and will be worse than the Wall Street crash of the 1930's; this only effected part of the world, but this time it has a global impact.
Never before has so much money been printed and put into the economy, but this has not resulted in a pick up. On the contrary it is deepening and getting worse.
As such, this article is integral to my current practise and highlights the importance of people taking notice of what is occurring, and artists bringing this information to the forefront of discussion.