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UK economy comes to a standstill
neverdespairgirl
Posts: 16,501 Forumite
Weak economic conditions certainly aren't going to help re-inflate the bubble any time soon.
UK economic growth ground to a halt between April and June, according to the latest official data.
The Office for National Statistics said economic growth was unchanged in the second quarter from the first, revising an earlier estimate of 0.2% growth.
It ends a run of 63 consecutive quarters of growth in the UK and is the weakest data since 1992.
The figures are likely to raise expectations of a cut in interest rates to prevent a protracted slowdown.
The services sector, the backbone of the UK economy, grew just 0.2%, while manufacturing output fell by 0.8%.
http://news.bbc.co.uk/1/hi/business/7576274.stm
UK economic growth ground to a halt between April and June, according to the latest official data.
The Office for National Statistics said economic growth was unchanged in the second quarter from the first, revising an earlier estimate of 0.2% growth.
It ends a run of 63 consecutive quarters of growth in the UK and is the weakest data since 1992.
The figures are likely to raise expectations of a cut in interest rates to prevent a protracted slowdown.
The services sector, the backbone of the UK economy, grew just 0.2%, while manufacturing output fell by 0.8%.
http://news.bbc.co.uk/1/hi/business/7576274.stm
...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
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So much for no more boom and bust.
Sad that we have to come to this again - recession wasn't nice last time round; I remember it well.0 -
Lots of people are in for a painful, but necessary lesson in economics!0
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neverdespairgirl wrote: »Weak economic conditions certainly aren't going to help re-inflate the bubble any time soon.
UK economic growth ground to a halt between April and June, according to the latest official data.
The Office for National Statistics said economic growth was unchanged in the second quarter from the first, revising an earlier estimate of 0.2% growth.
It ends a run of 63 consecutive quarters of growth in the UK and is the weakest data since 1992.
The figures are likely to raise expectations of a cut in interest rates to prevent a protracted slowdown.
The services sector, the backbone of the UK economy, grew just 0.2%, while manufacturing output fell by 0.8%.
http://news.bbc.co.uk/1/hi/business/7576274.stm
Oh there are storm clouds gathering quickly:
Recession fears for half the globe:
The investment bank has warned that the world's major economies, including the US, Japan, the eurozone and the UK, are "either in recession or face significant recession in the months ahead".
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/08/22/cnrecession122.xml
And the reason the bubble will never reflate:
People aged over 60 in the UK outnumber children for the first time, according to official figures. The Office for National Statistics revealed that 13,262,256 people were 60 or over in mid-2007 - up from 12,928,071 the previous year.
Meanwhile, the number of under-18s fell from 13,119,654 to 13,111,023 over the same time period.
http://news.bbc.co.uk/1/hi/uk/7575869.stm
It's just as well I'm off to Aus! If I'm going to be unemployed and broke, I might as well do it on the beach.0 -
It's just as well I'm off to Aus! If I'm going to be unemployed and broke, I might as well do it on the beach.
COOL! Sun Sand Beach - cant beat them
Enjoy! By chance you are retiring soon?
You will have a great time in Aus - they have the best of both worlds, great -bigheart- spirit of an American as well as the better laws of UK; of course you will have to drive at 55mph MAX; else your dash board will be full of tickets - great outdoors, large space for your trucks to pass through - and the indomitable spirit of an Aussie!Recession - if you are forced to drink beer at your home.
Depression - if you have no beer to drink at all!
I don't see any of the above - so where is it (recession)?0 -
harbinger13 wrote: »COOL! Sun Sand Beach - cant beat them
Enjoy! By chance you are retiring soon?
You will have a great time in Aus - they have the best of both worlds, great -bigheart- spirit of an American as well as the better laws of UK; of course you will have to drive at 55mph MAX; else your dash board will be full of tickets - great outdoors, large space for your trucks to pass through - and the indomitable spirit of an Aussie!
Dont forget most of the worlds deadliest snakes and spiders.0 -
harbinger13 wrote: »COOL! Sun Sand Beach - cant beat them
Enjoy! By chance you are retiring soon?
I wish. I'm only 37! My mate's brother retired at 40 having overseen some of the privatisations in a former communist country but he got bored and went back to work.
Mrs Generali is an Aussie so I get a passport that way. I thought I had to steal a sheep or something.justpurchased wrote: »Dont forget most of the worlds deadliest snakes and spiders.
9 of the 10 deadliest snakes and 10 of the 10 deadliest spiders I think. I saw a brown snake (2nd deadliest???) the second time I went over there.
Salties (salt water crocodiles) don't mess around either. Up to 20ft long and will have your leg off as soon as look at you.
Britain's biggest carnivore? The badger.0 -
It may be a lesson needed by many wymondham, but what about the rest of us who have lived within our means, and lived sensibly. We get stung by this too, due to the greed of other people and foolishness of reckless lenders!
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It may be a lesson needed by many wymondham, but what about the rest of us who have lived within our means, and lived sensibly. We get stung by this too, due to the greed of other people and foolishness of reckless lenders!
Those that have lived within their means and sensibly will be much less effected than others... recessions are great 'levelers' - people need to live through a recession to understand the whole economic cycle and that things don't stay as they are for ever...
Reading though posts, you can see who has been through one, and who has not...0 -
People aged over 60 in the UK outnumber children for the first time, according to official figures. The Office for National Statistics revealed that 13,262,256 people were 60 or over in mid-2007 - up from 12,928,071 the previous year.
Meanwhile, the number of under-18s fell from 13,119,654 to 13,111,023 over the same time period.
http://news.bbc.co.uk/1/hi/uk/7575869.stm
It's just as well I'm off to Aus! If I'm going to be unemployed and broke, I might as well do it on the beach.
giving some serious thought to this as well
the economics of this country are never going to stack up in 10 years time
there are going to be far too many old people0 -
giving some serious thought to this as well
the economics of this country are never going to stack up in 10 years time
there are going to be far too many old people
Too many old people with unfunded pensions.
Too much national debt.
Too much socialism.
In Aus the taxes are lower, there is almost no national debt and the population is younger. The standard of school education is higher (IMO) and they haven't gone down the twin dead ends of political correctness and health and safety being run by people that can't measure risk.
Having said that, in the UK if you go to weed the garden you can be reasonably sure to make it back alive, not necessarily the case in Aus.0
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