Hang on...

mewbie_2

StevieJ wrote: »

Is it me or does he spout some illogical stuff?
The recession was officially called end of last quarter
Followed by
We havent even seen 2 quarters of negative growth yet

You'd be bound to make the odd mistake in 20,000 posts. I know I made one once.

kennyboy66_2

Graham_Devon wrote: »

Why are we printing money now?

The recession was officially called end of last quarter. We havent even seen 2 quarters of negative growth yet, not officially. We haven't seen deflation, not officially. We haven't seen a total fall in house sales, only 40% fall. We haven't even officially hit 2 million unemployed.

Economic growth in Q3 2008 was -0.7%
Q4 2008 was -1.5%

That to me looks like 2 quarters of negative growth.

If anyone cares to bet against a further fall in GDP in Q1 2009 please let me know.

http://www.statistics.gov.uk/cci/nugget.asp?id=192

When driving your car, do you wait until you have crashed before applying the brakes ?

kennyboy66_2

Graham_Devon wrote: »

Hopefully this thread will clear things up.

Obama is our equivalent of labour though, and he's gone all out to the route of complete disaster.

Yeh - what were you doing Obama to get us into this mess ?

Bring back George Bush, we need strong leadership at this time. Only his policies can save us from the mess those Democrats have created.

StevieJ

mewbie wrote: »

You'd be bound to make the odd mistake in 20,000 posts. I know I made one once.

For sure he is cleared of being a sock puppet nobody would have the time:D

Graham_Devon

kennyboy66 wrote: »

Economic growth in Q3 2008 was -0.7%
Q4 2008 was -1.5%

That to me looks like 2 quarters of negative growth.

If anyone cares to bet against a further fall in GDP in Q1 2009 please let me know.

http://www.statistics.gov.uk/cci/nugget.asp?id=192

When driving your car, do you wait until you have crashed before applying the brakes ?

I stand corrected on that one, my mistake!

The car analogy is a good one. Surely though it isn't just "brake or crash" though. It's about timing and how hard you press the brake. The other way of looking at it, is do you slam on your brakes every time you need to come to a stop instead of applying the neccesary braking?

tomterm8

The difference is, with the economy, it takes 6 months for the impluse to the brake to make its way down the transition mechanism into the real world. Oh yeah, and you don't have a map and don't know where you are going.

Graham_Devon

JonnyBravo wrote: »

So you think those things aren't going to happen???

Of course you do. And so does everyone else.
Once we've agreed that the only thing you have to agree is the course of action to take.

So is your question/problem more around the fact that you don't agree with the course of action rather than the timing?

Of course I think they are going to happen.

My point was, they haven't happened yet. (bar the obvious mistake I made).

It's not THAT bad yet, not when you compare it to other points in history. Bank bailouts have not been given time. Only the other day all these billions announced in mortgage lending.

It seems to me, though this is purely discussion, not about who is right or wrong, as it's merely an opinion, that we seem to have rushed this through. Now QE is "out there" there will be no stopping it. It's a dangerous spiral, as seen by Zimbabwe, Japan, etc.

It really is the last dose of medicine, at such an early stage?

Last dose of medince in tried and tested measures anyway. What's next? Full bankrupcy and debt sanitisation? Starting a fresh? We have played all of our chess pieces now, and all we can do is make those chess pieces bigger, which will only make our problems bigger, different problems, sure, but still big problems. And it's all been rushed through, it seems, so quikcly?

We only took on more of RBS pumping billions more in just the other day. None of these remidial actons have been given time and now were ramping ahead with QE? Already?