Recession

It's been over a year now since the biggest recession since 1929 started. I shall not argue on the meaning of recession because it makes my blood to boil, and as I am going to sleep now I would like to stay calm. Just consider this: the International Monetary Fund (IMF) considers periods when global growth is less than 3% to be global recessions. This means that when our already rich countries don't become richer or stay as rich as the year before, that is a recession.



For this reason, in macroeconomic terms, I do not take recession seriously. As we are not getting less rich, we are just not getting richer. Please go forth explaining, the majority of the world population that Europeans and Americans are in big trouble because we decided to hang on a couple more years before changing our cars.

Nevertheless, the recession, on a smaller level can hit us hard, those that loose their jobs, their homes, those that cannot earn their living. But since we live in a rich society, all this will change and things will get better, like the sky after a storm. The clouds at last, drift away... like in the final scene of the film by Aki Kaurismaki, Drifting Clouds (Finnish: Kauas pilvet karkaavat)



The fantastic song on the credits is by Rauli Badding Somerjoki who died, much too young in 1987 (aged 39)