Since the beginning of last year we have been hearing about the recession and now like the doomed Titanic sailing towards that big iceberg it has finally hit. Economists say that this is the biggest and worst economic crisis to hit us globally since the beginning of the last century and no one is sure when or if it will end.

The first finger of blame was pointed at the Bankers and City boys who had been living it up in the lap of luxury for years claiming extortionate bonuses. However the whole blame cannot be put on them alone, the whole of Western Society got used to a disposable income and was in the grip of a “must have it ,will have it now” credit culture. We have sons of MP’s being given insane, uncalled-for allowances to throw “F*ck off I’m rich” parties, Celebrity Big Brother contestants demanding huge fees to just sit in a house for two weeks,(with the winner Ulrika Jonsson reportedly getting £175,000) while ordinary Joe Bloggs in the street is facing the very real and scary possibility of losing his job ( probably to a foreign worker) and home.

Most of all for 20 somethings like myself it seems very unfair. We are being made to pay for the big mistakes made by generations before us. We were not old enough to reap the rewards of western society’s consumer culture gone mad and now we have to bear the burden too.

I don’t want to hear that in these times of hardship to become a “recessionista” and build a capsule wardrobe of high end basic pieces. (a black t-shirt for £250? That’s half a month’s wages.) . I don’t want to hear that I should invest in stocks so that when they get better I’ll get a nice return.

I want to know that when I graduate I’ll not be heading straight for gumtree.com to find a job cleaning toilets because that’s all there is. But with unemployment rates for young people at a record high this seems more than a grim possibility. People seem to have forgotten about our generation, the ones who will have to bear the brunt of the previous generations’ misguided endeavors. And as most students know when it all hits the fan, unlike Britain’s banks this time our parents will not be able to bail us out.