The stock market looks out into the future 6-9 months. The market sees Obama in the White House and is disturbed by his socialist spend/tax and anti-free enterprise views. Obama plans to reduce taxes on 95% of the population by taking from 5%. Where will the capital come from to create new jobs?

jon, Austin, TX, USA

The positive side is that the world seems to be going to achieve David Smith of The Times prediction of $40 Barrel Oil.

Shame he could not work out how we would get there like many amateurs.

Paul, London,

Roy Hattersley proudly announced that Gordon Brown was leading the world out of recession. I am beginning to think all Labour politicians live in a dream world. They are going to preside over the greatest recession that this country will have seen since the 1920's and not one word of apology.

James, Hull, uk

For all those forecasters suggesting this downturn 'might' be as 'bad' as the '70s or '80s, this must surely be a wake-up call. We may be looking at worse than the '20s and '30s. But wasn't it obvious? The 70s and 80s didn't come hand-in-hand with a global credit crisis.

Steve York, Norwich,

Congratulations to the baby boomers, whose greed has eaten our country out of house and home.

john p-t, reigate,

UK stock markets will be forced to close for several weeks before the end of the year to stop panic selling.
Halifax bank of scotland is already planning to stop all cash withdrawals for 2weeks to access their current liabilites.

rupert, london, uk

James, spot on. Save the bloody super rich crooks, and leave the poor even worse off!! Superyachts to show off, masters of their little universes, either they get this right, or else there'll be blood on the streets, and not Rockerfellers meaning! And I'm a capitalist to boot!

lionel, ny,

Oh I thought you guys were Christians, did you ever read what the Bible said about the rich man, entering into the kingdom of heaven. It's better to give your wealth to the poor, a rich man cannot go to heaven, it is easier for a camel to get through the eye of a needle, than a rich man into heaven.

Daphne Kenward, Cambridge, UK

The recession in Britain was always going to happen. If there was no credit crunch, then increasing fuel costs and high inflation would have trigered it. It's British borrowing (not US mortgages) that made our economy unstable - this 'boom and bust' is no different from those we saw under the Tories

Tim, Edinburgh,

Now it is debt repaying time. Already the public sector and households are indebted beyond their limit. Borrowing more and consuming is make belief economics that will blow up at a later time. But perhaps the politicians do not care so long as cracks are papered over until after the next election

S Yogarajah, Harrow, UK

It is unimaginable that supposedly experienced investors did not see recession coming at least a year ago - it was overwhelmingly obvious that the extreme boom was unsustainable.

James E. Petts, Burnham, England

Early this week it was Mr Brown who was 'saviour of the universe'. Next week it will have been Darling's idea after all.

I take it that if the price of oil is dropping 7% in a single day; we will be seeing similar reductions at the petrol pump?

Anthony Lester, Brum,

Gordon Brown 1997 Budget "I will not let house prices get out of control". Now he is trying to pull off the biggest con trick of all time. Suggesting he wants more financial regulation when it was him who was against it and got us in this hole.

Fred, Moray, Scotland

This is what you get for ignoring people. Estate Agents were screaming to stop HIP packs and to tell banks to lend over 14 months ago. I didnt have to go to oxford to make this formula.

No lending= fall in prices= no market= no lending.

Only way out of this is

Good business plan bankers

Richard, hereford,

The only way out of this is for the government to guaranty first time buyers that if they buy a house they will not lose any equity. Then make banks offer 5% deposits.

Is that possible?? If not we have no market and no economy.

Richard, hereford,

If Labour carry out their plans to instigate major public sector projects to stimulate the economy, we are doomed! You can't use borrowed money to buy your way out of a crisis, as any idiot knows, but not Government it appears!

Rod Ballard, Leicester,

The bunch of amateurs in No. 10 & 11 tinkering with the economy and bail-out of the banks has led to a recession.

Louis, Liverpool, UK

It is not suprise to see the GDP drop 0.5% consider our economy is heavily depending on the deadful financial industry. Productive forigen workers will leave as pound falls and you will expect a more serverly drop in the overall productivity. That's bad for the country as a whole.

Howard, London,

Trillions of dollars to help banks while third world countries continue in absolute poverty. Mothers unable to feed themselves or their malnourished children, no one comes to help them. This is a gut wrenching unimaginable horror. World leaders should hang your heads in shame.

james, edinburgh, UK

I prefer a more or less quiet Mr. Bean....

George, London,

Well Gordon, you rode the wave of debt-based boom and now there is a tsunami of a bust. You've already got the UK up to its neck in debt, and now you're going to pile on even more so our kids and grandkids will have to work to pay it back. You will go down as the most irresponsible Chancellor ever.

Donna Walker, Effingham, England

The *real* economy of this country has been in recession ever since the housing bubble began to develop, as borrowed money which should have been invested in producing manufactured goods for export, was instead used for the buying and selling of housing. Brown's 'boom' was totally fake.

Paul, Coventry,

So Anthony Bolton was buying last month! - you've got to laugh!!

Nick, Warrington,