Economy at 60-year low, says Darling. And it will get worse

neverdespairgirl

Generali wrote: »

Yup. The Uk got a £1,000,000,000 loan from the US Government to consolidate war debts, loan lease etc as a part of a wider aid package to Europe called the Marshall Plan, the idea of which was that successful European economies wouldn't turn to communism and would be handy export markets for US goods.

As I understand it, the UK got a loan rather than a grant or gift, because the new Labour govt. was seen as dangerously socialist / communist.

Didn't Keynes go to Washington in person to plead for it?

dudleyboy

Generali wrote: »

By 1948 the country was on its knees again - rationing was made stricter on many things such as food, clothing and coal than it had been in the war. I think beer was rationed for the first time too (not sure about that last one).

Nooooooooooooooooooooooooooooooo!!!!!!!!!!!!

That was my plan B to survive the depression!

Things are worse than I thought.

Guy_Montag

In fairness AC is saying this is potentially the worst since 1948. So that implies that 1948 was worse than this, but this is worse than anything in the 50s, 60s, 70s, 80s or 90s.

Dan:_4

I can't wait for this to all happen.

I will buy a house using a 0% credit card, or maybe even 2 houses?

Davesnave

The biggest failure of this govt is the fact that a sizeable chunk of the population don't do anything as it's better for some to be on benefits than take low paid work.....which could develop into higher paid work at some point. This isn't a dig at any claimants on here as everyone has different circumstances........

The people permanently on benefits would be such as pain to employ, that it is cheaper for the government just to give them money to stay unproductive. The failure of all governments to tackle that, and only threatening to do something about it, is what irks me.

And I do mean that as a dig at the serial claimants who abuse the system, though not at the !!*!!less,who could be a lot better protected and supported throughout their lives in return for work, which I'm sure most of them would rather do, given the opportunity.

Not sure that this would save the economy though.

*Damn filter won't let me use the polite word I wanted here, but I mean 'less intelligent. & vulnerable'

wymondham

I can't ever recall a chancellor being this direct before. He's either very clever or very stupid - I can't make my mind up! :rolleyes:

There do seem to be lots of things coming together for the 'perfect storm', especially with the price of oil, as the current hurricane in america and Russia about to get difficult with supplies this could hit energy prices again....

amcluesent

Everyone who voted Nulabour - hang your heads in shame.

The elite fools in the 'Project' have wrecked England - and that was their policy as 'payback' for the aspiring working classes voting for Thatcher.

Meanwhile NuLabour cronies have trousered ££ BILLIONS from the corruption, the vote rigging, the lies and the bungling.

Labour have ruined everything. Again.

matbe

Doomed!!!!

Were all doomed!:eek: :eek: :eek:

dopester

Dan: wrote: »

I can't wait for this to all happen.

I will buy a house using a 0% credit card, or maybe even 2 houses?

You have to wake up Dan. The worse it gets, the harder credit will be to obtain.

And besides, you only took out a 20 grand loan not long back.

moanymoany

matbe wrote: »

Doomed!!!!

Were all doomed!:eek: :eek: :eek:

I'm cynical enough to think that there is little to put between Labour and Conservative - over the past lots of years I've seen both make a muck of things.

That is not to say I think GB and Labour have done nothing detrimental to the economy - nor that I think Cameron and the Conservatives would do any better. I think that given the world situation no-one can pull any rabbits out of any hats.

as matbe says so succinctly - we're doomed, we're all doomed :eek: :eek: :eek: