Volker-This is not an Ordinary Recession

stevsand

Wookster wrote: »

I think might be mistaking red tape for regulation.

Anyways, no one can know what they would have done because they weren't in power.

Red tape and regulation are one and the same thing:cool:

Rochdale_Pioneers

Wookster wrote: »

The IMF says otherwise.

http://www.independent.co.uk/news/uk/politics/imf-predicts-uk-will-be-hardest-hit-1518588.html

How delicious. Thats an article written a month ago. The IMF predicted that the UK economy would contract harder than anyone else.

Now, one month later on, can you tell me if the UK economy is contracting faster or slower than the Eurozone? America? Germany? Japan? Why are you posting a month-old IMF claim that was disproven within days as "proof" that I am wrong? The IMF said something. It was wrong. The world moved on. Whilst we're in the business of quoting out of date IMF claims shall I post their forecast that we would grow this year? I know that its been swept away by more recent events and the facts have proven them wrong, but as you don't seem bothered by any of that perhaps its still factual to you?

Still, there you go, clinging onto Crash's coat tails, unable to see the disaster he has brought to this country.

Wookster wrote: »

Edit: Seeing as you have so much time for the credit rating agencies, how is it possible that they gave all these "financial weapons of mass destruction" that caused this mess AAA ratings? Never get things wrong, do they?

They all got it wrong. But considering that you are clinging to outdated month old IMF forecasts which have already been swept aside by reality (like all their other forecasts - so spin your question round to yourself!), lets have a look at your Credit Agency analogy. In their case its not a forecast, its a statement of fact as it currently exists. And at the moment the UK has not been downgraded and other countries have.

And at the moment the EU have put other countries on watch for excessive debt and not the UK. These are the facts as they exist. What are the facts on your planet?

Adebisi

This is not an Ordinary Recession - this is a Marks and Spencer’s Recession

Amarillo

JP45 wrote: »

I think even the most blindly optimistic of folk must have realised by now that this is no ordinary recession.

It is clearly far more serious than the recessions of the early 1980s and 1990s. It is also becoming abundantly clear that no nation is going to escape from this unscathed.


I had lunch with someone a month ago who imparted her wisdom
over a very tasty Spanish omlette with pancetta in her newly extended and totally gutted house complete with eye watering mortgage.

What you have to remember, she said, is that we have very intelligent men running this country and it won't be as bad as the 80s or 90s because they won't let.

I rank keeping a straight face to that comment as one of my greatest achievements, right up there with childbirth.

Wookster

Rochdale_Pioneers wrote: »

How delicious. Thats an article written a month ago. The IMF predicted that the UK economy would contract harder than anyone else.

Now, one month later on, can you tell me if the UK economy is contracting faster or slower than the Eurozone? America? Germany? Japan? Why are you posting a month-old IMF claim that was disproven within days as "proof" that I am wrong? The IMF said something. It was wrong. The world moved on. Whilst we're in the business of quoting out of date IMF claims shall I post their forecast that we would grow this year? I know that its been swept away by more recent events and the facts have proven them wrong, but as you don't seem bothered by any of that perhaps its still factual to you?

Still, there you go, clinging onto Crash's coat tails, unable to see the disaster he has brought to this country.



They all got it wrong. But considering that you are clinging to outdated month old IMF forecasts which have already been swept aside by reality (like all their other forecasts - so spin your question round to yourself!), lets have a look at your Credit Agency analogy. In their case its not a forecast, its a statement of fact as it currently exists. And at the moment the UK has not been downgraded and other countries have.

And at the moment the EU have put other countries on watch for excessive debt and not the UK. These are the facts as they exist. What are the facts on your planet?

I think that just shows: you do not understand why we are in this recession and you do not understand why Britain will fair badly coming out of the recession.

Still, you might get a job in the Labour press machine, your ability to spin is unrivalled.

StevieJ

Wookster wrote: »

My god you really are Gordon's padawan aren't you?

I take it you think it is UK localised

Rochdale_Pioneers

Wookster wrote: »

I think that just shows: you do not understand why we are in this recession and you do not understand why Britain will fair badly coming out of the recession.

Finally the truth. When you state "Britain will do badly" thats your forecast of the future. And you ar of course entitled to that opinion and may well be right. So why not stop saying that we're doing badly right now and making an utter tit of yourself.

The facts now wholly disagree with and disprove the picture you are painting. Unless you have any other old news stories to post. Perhaps you'd like to show how our membership of the Exchange Rate mechanism will end in tears, or how the Gold Standard is doing.

Wookster

Rochdale_Pioneers wrote: »

Finally the truth. When you state "Britain will do badly" thats your forecast of the future. And you ar of course entitled to that opinion and may well be right. So why not stop saying that we're doing badly right now and making an utter tit of yourself. quote]

OK we're doing really well. If you don't believe me just check this out:

UK Recession deeper than thought:
http://news.google.com/news/url?sa=T&ct=uk/0-0&fd=IG&url=http://business.timesonline.co.uk/tol/business/economics/article5801174.ece&cid=1308080704&ei=0jqlSZ_5B9SfmAfkrYCLCw&usg=AFQjCNHjVb6Wih_mcj_sa012LgrlDiKt5g

Virgin Media plunges deeper into red :
http://www.guardian.co.uk/business/2009/feb/25/virgin-media-sit-up-tv

High street job losses hit record level in UK:
http://www.guardian.co.uk/business/2009/feb/24/jobs-retail-uk-cbi

Fear of factory shutdown after UK car production halves
http://www.guardian.co.uk/business/2009/feb/20/automotive-globalrecession

Yup, we're doing just fine. Aren't we?

Generali

Rochdale_Pioneers wrote: »

Finally the truth. When you state "Britain will do badly" thats your forecast of the future. And you ar of course entitled to that opinion and may well be right. So why not stop saying that we're doing badly right now and making an utter tit of yourself.

The facts now wholly disagree with and disprove the picture you are painting. Unless you have any other old news stories to post. Perhaps you'd like to show how our membership of the Exchange Rate mechanism will end in tears, or how the Gold Standard is doing.

Do you have anything more substantive than, 'Europe is doing worse than the UK so any predictions that the UK will fare badly are incorrect'? It's all very well knocking everyone else's arguments but you need to come up with something yourself.

How do you think things will play out in the UK? The pension system is pretty much insolvent (or will be at any rate as I certainly can't see any way that private or public promises are going to be kept), the banking system is insolvent and the Government spending appears to be running out of control given the sums of money that she is trying to borrow. Add to that the massive indebtedness of the UK consumer and the huge trade deficit and things look very bad to me.

How can that resolve itself into a happy ending? I don't think it can. Future pensioners are going to be shafted (quite possibly along with current ones) for sure. That doesn't bode at all well for the housing market and thus the UK banking system. If the Government really is going to prop up the banks at all costs then it doesn't look good for Government finances.

Reaper

Generali wrote: »

and the huge trade deficit

Last I heard it was improving.

The trade in goods gap shrank to an 18-month low of £7.4bn from £8.1bn in November

There may be more up-to-date figures but these were the most recent I could find.