Economist warns of 1970s-style recession

The video discusses the current economic situation, highlighting a recent budget reversal that shifted from a 45 billion giveaway to a 50 billion retraction, impacting businesses and middle earners. It predicts a recession lasting from six months to two years, drawing comparisons to economic challenges of the 1970s and potentially the 1930s, though not reaching depression levels.

What was the financial change mentioned in the mini-budget?

• An increase of 50 billion

• A cut of 50 billion

• A giveaway of 45 billion

• A reduction of 45 billion

Who is most affected by the economic changes discussed?

• Business owners only

• High-income earners

• Middle earners

• Low-income earners

How long does the OB predict the recession might last?

• 18 months

• 2 years

• 6 months

• 12 months

Which organization predicts a two-year recession?

• The European Central Bank

• The OB

• The Bank of England

• The Federal Reserve

How does the current economic situation compare to the 1930s?

• It is worse than the 1930s

• It is similar to the 1930s

• It is not as severe as the 1930s

• It is unrelated to the 1930s