The UK is now back in recession it is official

[The Truth]

This recession hasn't ended since the 70's. Just because loans were handed out to pretty much everyone and the government were banging out the song 'Things can only get better' didn't mean we were any richer. The last recession was sorted out by debt and now we're in the process of paying it all back with even more debt. There's no way we are out of this recession. We've hit a spiralling downward effect on the economy which will eventually lead to a collapse. I know of someone involved with the stock-market who insists on trading all your money for jewellery and gold. It is noticeable how much the price of gold is going up right now.

 

[Dirk Gently]

This recession hasn't ended since the 70's. Just because loans were handed out to pretty much everyone and the government were banging out the song 'Things can only get better' didn't mean we were any richer. The last recession was sorted out by debt and now we're in the process of paying it all back with even more debt. There's no way we are out of this recession. We've hit a spiralling downward effect on the economy which will eventually lead to a collapse. I know of someone involved with the stock-market who insists on trading all your money for jewellery and gold. It is noticeable how much the price of gold is going up right now.

So we were still in recession despite being a major oil-producing nation?

 

[The Truth]

So we were still in recession despite being a major oil-producing nation?

In terms of how much the banks actually had in comparison to what they lent out, yes we were still in a recession.

 

[seagullsovergrimsby]

That's what happens when a government no one wanted get in . Labour will have to sort this shit out like they did before

When Labour took power in 1997 all the radical ideas went out the window and they became closet Tories. They were lucky in clearing the mountain of debt within just 4 years (left by 18 years of Tory rule) but royally f***ed it up in their last term of office. Whichever party has the keys to Number 10 are only looking after Number 1.

 

[sten_super]

GDP figures are notoriously unreliable on the first announcment, with the only consistancy being they are revised upwards later (as more data becomes available)

That's a result of what is effectively deliberate pessimism at the ONS where they compile the statistics. They always err on the side of caution when estimating the data. Interestingly, in the US, the opposite is true and initial estimates are almost always revised downwards.

 

[Guy Fawkes]

An intersting site about the UK national debt

How much is owed
UK National Debt Clock - No-nonsense Guide to Britain's Debt Crisis

Consequences of the national debt
The Consequences Of National Debt

Forecasting national debt - Is the problem getting better or worse (written in 2009/10)
Forecasting National Debt in the UK

Plus sections on the following (links on site as can't be bothered to post them all)
- Britain's budget deficit
- The role of the bond market
- Measuring the national debt
- Public spending in Britain today
- The impact of fiscal policy on national debt
- The consequences of excess debt
- The problems of forecasting national debt
- Taking action to avert a debt crisis
- The history of Britain's debt
- The immorality of national debt
- Quantitative Easing explained

 

[Gangsta]

This recession hasn't ended since the 70's. Just because loans were handed out to pretty much everyone and the government were banging out the song 'Things can only get better' didn't mean we were any richer. The last recession was sorted out by debt and now we're in the process of paying it all back with even more debt. There's no way we are out of this recession. We've hit a spiralling downward effect on the economy which will eventually lead to a collapse. I know of someone involved with the stock-market who insists on trading all your money for jewellery and gold. It is noticeable how much the price of gold is going up right now.

What complete rubbish. We are a significantly richer country by any measure you want to use since 1970's. I can just about remember what a f***ing joke this country was back then. Granted, governments have been too complacent to address the imbalance between service sector and declining manufacturing. As living standards rise fast in the East we will win back manufacturing but we have to stop being IKEA/Primark/Whatever sheep and buy British rather than cheap shit ( half of which we dont need anyhow ). As for Gold, good luck mate. Its the one asset class I am not recommending to my clients. Having seen a few bubbles blown, I know what they look like. If you really must invest in something you can touch, go for copper or aluminium or some sort of metal that has a wide range of commercial uses. As other more useable commodities become rarer holding onto a brick of gold that used to denominate wealth but doesnt really do much looks a bit odd.

 

[GOM]

When Labour took power in 1997 all the radical ideas went out the window and they became closet Tories. They were lucky in clearing the mountain of debt within just 4 years (left by 18 years of Tory rule) but royally f***ed it up in their last term of office. Whichever party has the keys to Number 10 are only looking after Number 1.

I seem to remember a completely different set of events.

 

[brunswick]

if you guys knew how much was being spent in military and biotech labs you would fall over.

recession is just a word, put on the people so they feel "it is ok" to be treated like a mug.

research what inflation actually is, another tax.....the whole game is rigged, and blaming political parties is exactly what they want you to do, that is the stage that is set up.

 

[GOM]

if you guys knew how much was being spent in military and biotech labs you would fall over.

Why ? falling over is not something I am prone to unless very drunk.
Makes it sound very dramatic though I guess

recession is just a word, put on the people so they feel "it is ok" to be treated like a mug.

It is a word. A word that has a meaning.
I have never felt OK to be treated like a mug, although I am getting the feeling someone here is trying

research what inflation actually is, another tax.....the whole game is rigged, and blaming political parties is exactly what they want you to do, that is the stage that is set up.

Rigged ? I wonder who they are and for what the stage is set. All very sinister, or just the ramblings of the deranged ?

 

[Brighton1]

Positive

You seem to be saying everything here is fine and dandy. Without growth we are f***ed. Obama called it right. Osborne has totally screwed up.

BBC report.

BBC News - OECD predicts recession in the UK

Have you ever anything positive to say?

 

[Commander]

Have you ever anything positive to say?

About every 3 months- he says he's never posting again.

 

[Uncle Spielberg]

Have you ever anything positive to say?

No.

 

[The Truth]

if you guys knew how much was being spent in military and biotech labs you would fall over.

recession is just a word, put on the people so they feel "it is ok" to be treated like a mug.

research what inflation actually is, another tax.....the whole game is rigged, and blaming political parties is exactly what they want you to do, that is the stage that is set up.

This.

 

[The Truth]

About every 3 months- he says he's never posting again.

You must spend a lot of your time on here to know that!

 

[Uncle Spielberg]

About every 3 months- he says he's never posting again.

I'll give you that one Commander.

 

[brunswick]

It is a word. A word that has a meaning.

Rigged ? I wonder who they are and for what the stage is set. All very sinister, or just the ramblings of the deranged ?

do some research and you might learn about past "designed" recessions, and why the people are being treated like this......couple of clues if stuck on where to start, eugenics and family banking dynasties.

 

[folkestonesgull]

is the contraction of a poor quality economy with a large dependency on the public sector and the service industry in the short term a bad thing, if in doing so it refocusses and grows by becoming broader and more resilient to change in the next 20 years?

Sustainable growth is slower yet continuous growth surely...I would be happy with a national economy that widened and promoted greater investment in its work force and ensured that growth was not at an environmental cost.

What I would really like to see is the government working with businesses, universities etc to promote how it sees the UKs role in the global economy in 5 or 10 years time and how it will facilitate getting there. I think the reassurance and financial support this could provide is key to how the UK benefits from the changes in energy consumption and production that are going to have massive global impacts over the next 35 years.

 

[melias shoes]

When Labour took power in 1997 all the radical ideas went out the window and they became closet Tories. They were lucky in clearing the mountain of debt within just 4 years (left by 18 years of Tory rule) but royally f***ed it up in their last term of office. Whichever party has the keys to Number 10 are only looking after Number 1.

When labour came to power in 97 they couldn't believe how balanced the books were and how much they had to spend. They never cleared a mountain of debt they created one and they started the moment they got in No.10. Agree on the looking after No1 quote though.

 

[Mental Lental]

Certainly notice a difference in the commercials on British and Japanese TV... The UK seems to produce NOTHING as far as I can tell. All the ads are for car insurance, bank loans, debt management loans, holidays, compensation lawyers, texting car registrations and MORE car insurance. How long can you continue to persuade people to part with their hard earned cash without physically getting something back for it?

I remember that movie Brewster's Millions where Richard Prior found it difficult to spend 30 million dollars without accruing assets. It would be bloody easy in the UK these days.