BOE - Britain shows signs of depression

Graham_Devon

http://www.telegraph.co.uk/finance/financetopics/recession/4996994/Britain-showing-signs-of-heading-towards-1930s-style-depression-says-Bank.html

It's all going Pete Tong!

No surprise to me, as I and other have been saying it for ages, to a roarcus laughther that it simply will not happen.

Basically the BOE is now warning of a 1930's style depression. Alistair Darling is also now giving warnings that more drastic action is needed.

Too much debt apparently. You'd never have guessed!

Really2

Graham_Devon wrote: »

http://www.telegraph.co.uk/finance/financetopics/recession/4996994/Britain-showing-signs-of-heading-towards-1930s-style-depression-says-Bank.html

It's all going Pete Tong!

No surprise to me, as I and other have been saying it for ages, to a roarcus laughther that it simply will not happen.

Basiclaly the BOE is now warning of a 1930's style depression. Alistair Darling is also now giving warnings that more drastic action is needed.

Too much debt apparently. You'd never have guessed!

Have the BOE now got somthing right. They are wrong to slash IR but this is 100% correct.;)

Also you agree deflation is coming? get ready for low IR AKA Japan for the nex 10 years +;)

ad44downey

The Depression is upon us. Thankfully the BoE are no longer trying to pull the wool over our eyes.

Andrew64

Nice of the BoE to let us know that this is likely to be a depression. I just hope it's nothing like the 30's version! We can now at least prepare for the worst!

One thing I will never understand. If the cause of the problem is too much private debt, how is creating a huge amount of public debt going to help!?

luvpump

What are the odds on another Round of Q-easing ? .... Narrowing by the day I Suspect ...

chucky

Graham_Devon wrote: »

http://www.telegraph.co.uk/finance/financetopics/recession/4996994/Britain-showing-signs-of-heading-towards-1930s-style-depression-says-Bank.html

It's all going Pete Tong!

No surprise to me, as I and other have been saying it for ages, to a roarcus laughther that it simply will not happen.

Basically the BOE is now warning of a 1930's style depression. Alistair Darling is also now giving warnings that more drastic action is needed.

Too much debt apparently. You'd never have guessed!

i don't think we are or going to be in any sort of depression.

if we were, you wouldn't be that happy, unless you're a real weirdo .
You would certainly be feeling it both economically and socially.

Graham_Devon

chucky wrote: »

i don't think we are or going to be in any sort of depression.

if we were, you wouldn't be that happy, unless you're a real weirdo .
You would certainly be feeling it both economically and socially.

Chucky dear, stop looking for things I haven't said, and then making out I have somehow implied them! I have never said I would be happy! I just said I been saying it for ages, to laughter. Which is true.

chucky

Graham_Devon wrote: »

Chucky dear, stop looking for things I haven't said, and then making out I have somehow implied them! I have never said I would be happy! I just said I been saying it for ages, to laughter. Which is true.

but it's in your title duchess, "BOE - Britain shows signs of depression"

I never said that you said it - just making a general comment about people being happy about a depressionary (is that a real word?!) period

so do you think we are going into or are in a depressionary period or a very serious recession?

Wookster

I wander how this will auger against the Chancellor's forecasts of recovery later this year. The article implies a further increase in public spending but I just don't see how ~10% budget deficits can be sustained for the next 3 years.

Graham_Devon

chucky wrote: »

but it's in your title duchess, "BOE - Britain shows signs of depression"

I never said that you said it - just making a general comment about people being happy about a depressionary (is that a real word?!) period

so do you think we are going into or are in a depressionary period or a very serious recession?

I don't see how "BOE - Britian shows signs of depression" is me being happy? It's just me shortening the length of the title and keeping it factual

I dunno about the short or long. Depends what this government does, and with them just having announced they are giving people on the dole £300 each to buy a new suit, I reckon they are capable of doing just about anything they like, as they like, how they like.

We have a totally reckless government, so any predictions, in my mind, are pretty pointless. However, can there actually be a short depression once were there? The further the sh*t we get into, the harder it is to come out, and it's like dominoes, more and more fall.

Wookster wrote: »

I wander how this will auger against the Chancellor's forecasts of recovery later this year. The article implies a further increase in public spending but I just don't see how ~10% budget deficits can be sustained for the next 3 years.

Are we not taking bets on this budget being a tax giveaway and a spending spree?

HOW they do it is irrelevant to this government. Let's face it. They and we know they aint going to have to get the clean up gear out.

chucky

Graham_Devon wrote: »

I don't see how "BOE - Britian shows signs of depression" is me being happy? It's just me shortening the length of the title and keeping it factual

it's just the tone of the thread - it gives the impression that you can't wait for it to happen if it happens and you're taking great pleasure from it. very off topic though.

Graham_Devon wrote: »

I dunno about the short or long. Depends what this government does, and with them just having announced they are giving people on the dole £300 each to buy a new suit, I reckon they are capable of doing just about anything they like, as they like, how they like.

We have a totally reckless government, so any predictions, in my mind, are pretty pointless. However, can there actually be a short depression once were there? The further the sh*t we get into, the harder it is to come out, and it's like dominoes, more and more fall.



Are we not taking bets on this budget being a tax giveaway and a spending spree?

i definitely get the impression that whatever this Government does you won't be happy. personally i don't think they have much choice in their actions.

however, on past performance i don't have total confidence in their actions.
Brown isn't a good leader but i don't think the Cameron would be much better and you're welcome to make the point that he hasn't had the chance anyway, which is right.

whatever Government that would be in place now would have their backs up against the wall. would another government have prepared themselves better for the economic downturn - i think that they probably would have to be fair, but my gut feel is that politicians are very short term in their economic thinking anyway. So, Labour or Tories are just as bad in my view.

The budget will be very interesting - suspension of stamp duty for anything under £250k anyone?