Recession & unemployment

GDB2222

dudleyboy wrote: »

leave the economics to GB and his miracle makers. They know what they're doing... :rolleyes:

Thanks, I take that as a well-deserved compliment.

snoopy78

Dithering_Dad wrote: »

I'm sure recessions are caused by a bit more than a few BTLers buying up apartments in Basingstoke. Factors such as a high oil price for instance.

Anyone remember what set of the credit crunch?

Something to do with Mortgages, payment defaults, house prices, large borrowing etc The credit crunch set us on the path to recession, high oil and fuel are just helping us along.

Generali

snoopy78 wrote: »

Anyone remember what set of the credit crunch?

Something to do with Mortgages, payment defaults, house prices, large borrowing etc The credit crunch set us on the path to recession, high oil and fuel are just helping us along.

I think your post is tongue-in-cheek but for the hard of thinking it was sub-prime borrowers not being able to afford increased mortgage costs after their initial low payment period came to an end.

StevieJ

snoopy78 wrote: »

Anyone remember what set of the credit crunch?

Something to do with Mortgages, payment defaults, house prices, large borrowing etc The credit crunch set us on the path to recession, high oil and fuel are just helping us along.

Anyone remember that it was actually in the US.

StevieJ

RecoveringAlcoholic wrote: »

The Party is Over.

The hangover will last for five years.

Another Nostradamus.

baby_boomer

Well I could be wrong about the UK being alone in the Western World. Perhaps I should have said alone in Europe.

Japanese economy on brink of recession after a 3% annual rate fall in the quarter to June 2008

mr_magoo_5

Well looks like most of the worlds major economies are lining up for recession, which in turn will take down the smaller ones.
Guess it looks like world wide recession possibly next year, which in effect could be the big one.
Tighten your belts for a rough ride

StevieJ

!!!!!!? wrote: »

Sort of - a recession is defined as two successive quarters of negative growth.

Officially, we haven't even had one yet (the last one was 0% growth, if the figures are to be believed :rolleyes: )

So it would be another six months before we could say for sure that we are in the textbook definition of a recession.

Although quite obviously, these are the early stages of a recession. What is truly scary are all the early casualties.

I guess those years of house prices going through the roof as a result of people borrowing loads of cash (and banks lending it to them) weren't a good idea after all. Who could have seen that one coming?

I guess that an exact 0% growth figure is highly unlikely, it is more likely that they have rounded up or down by a small amount, so it could be that technically we have already had the first quarter of negative growth.

dad-of-4

kennyboy66 wrote: »

I think you are right, although we will only know for sure in about 9 months time. The debate surely is only about how bad and deep the recession.

Still, there are plenty of nutters out there who want to see an increase in interest rates.

as someone who lives within my means with zero debt and credit an interest rate hike suits my savings fine.;)

and the debt ridden wanabee highrollers are the nutters from this side of the fence.:rolleyes:

dad-of-4

ad44downey wrote: »

The whole MPC committee should get the boot. They've failed abysmally in their task of keeping inflation at 2%. And what's Bonkers Blanchflower doing on the committee anyway, he's not even British.

maybee GB as chancellor failed abysmally in his task of setting a realistic inflation target that could be sustained.

afterall its worked out rather well for him that the BOE carry the can for what used to be his sole responsability, has it not?;)