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could've fooled me,and many others i know.
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Replies: 27
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christ almighty. germany is still struggling and the recession was over 6 moths ago for them. what do you expect? sunnely unemployment drops to 1m overnight and all the banks start lending like there is no tomorrow?
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Yesterday's news reaches labour exchange smoking room.
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If you know what constitutes a "Recession",then technically it is,at least for this quarter.
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I don't think 80% of people know what a recession means anyway.
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When is the credit crunch going to be over?
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Year Mar Jun Sep Dec Average
2009 -5.20 -5.80 -5.10 -5.37 2008 2.40 1.70 0.20 -2.10 0.55 2007 2.40 2.60 2.70 2.40 2.53 2006 3.10 2.80 2.70 2.80 2.85 have a look at this data of UK GDP growth and you may feel a bit better about the 0.01% |
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Pheww
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Unfortunately the UK has put all their eggs in one basket, the financial basket. And since this recession was fueled by the so called "credit crunch" we were always going to be hit the worse. And our growth will be the slowest until confidence returns and then it will grow at a faster rate then other countries.
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what we luckily don't have is Brussels dictating our interest rates, and I think Germany and France are very worried about what is happening in Greece, Ireland and the Iberian peninsula
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The Magic Flea KNOWS.
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What recession ?
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The first of the 'double dips' may be technically over, but who's to say how bad the second dip will be after they realise they can't keep throwing their grandchildrens' money at the problem?
And aren't the carmakers going to be in even deeper doo doo once they stop getting scrappage subsidy? |
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wur, the hope is that the financial institutions are stable enough to start lending again
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But, if they think the economy's shot, which it is, they won't lend.
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When you say the economy is 'shot', what do you mean?
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they still want to make money don't they, and they know that they are paramount to recovery, meaning higher interest rates, meaning more profit
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I mean, it's in poor shape with the level of public expenditure needed to keep banks, car manufacturers, homeowners etc afloat. It all has to be paid for and 2010 is the start of payback time. Britain has too much personal debt, which helped to fuel the good times, but that chicken is coming home to roost, too.
And I don't think the 'toxic assets' problem with the banks holding worthless financial instruments is anywhere near resolved. Still a lot of unwinding, there. The creative accounting putting a positive spin on things will have to face reality some time. |
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personal debt is not a problem as lenders rake billions out of them. The cowboy lending on mortgages was. A person can die £1000's in debt and the lenders would've still made a decent profit out of them
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Personal debt means people have less disposabvle income to spend on goods and services, so companies go bust, lay off staff, who now are strapped for cash, meaning even less disposable income and more companies going bust.
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that's why banks need to lend to these companies :) it is a cycle and everyone's happy until someone defaults, as in the sub-prime situation. After all it is something intangible that we are talking about. Those are the basics of capitalism. It cannot exist without debt
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The recession is not over, it would not surprise me in the slightest if the figures have been massaged to show recovery. If Labour want any chance whatsoever of winning the general election then they siimply HAD to show recovery in this set of figures.
The bad news is the best they could fabricate is 0.1 recovery so how bad are we really. Another factor to consider is a lot of the public spending over Christmas has been with money saved all year specifically for this plus many people making expensive purchases before the VAT rate went back up so public spending could well dry up now. My prediction is for the next set of figures to show a decline coupled with the pound weakening. I hope I'm wrong but I can't help thinking we are not out of the brown stuff by a long way. |
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how can the Office for National Statistics massage figures? They're bloody nerds
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it never arrived for all the layabouts on the sick/dole... perhaps all the public sector workers should remember that when they strike next...
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rEcession OVER!
back to 10% house price inflation !!!!!!!!!!!!!!!!!!!!!! |
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YEEEEEEEEEEEEEEEEEEEEE hAAAAAAAAAAAAAAAAAAAA !!
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no it just starting,its just labour bullsh itting right till the end
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agree with Jordi ...we have never ever been out of recession .
most of the country has been potless since Roman times |