David Cameron warns of full-scale depression

Andrew64

Politicians don't normally say this sort of thing! Will he now be accused of talking down the economy? Or is he just being honest?

"In a hard-hitting speech in London, the Tory leader painted a picture of the problems facing the country in the current recession, predicting that economy could shrink by as much as 10 per cent - the technical definition of a depression."

http://www.telegraph.co.uk/news/newstopics/politics/david-cameron/5018088/David-Cameron-warns-of-full-scale-depression.html

amcluesent

We simply cannot afford the current level of non-productive overheads that have built up every aspect of society. The jobsworths in the council, the 'elf-'n'-safety zealots, outreach co-ordinators, the 'umin-rights cry-babies, the form-fillers and box-tickers, 'computer says no' half-wits.

Pretty much every 'job' advertised in the Gaurdian since 1997 is a nonsense and should be got rid of, saving a huge amount of tax.

All the fluff must be swept away. Only those that graft deserve a decent wage.

dealsearcher

Politicians don't admit extreme problems in the present tense. This Labour government has continually used spin and evasion to not admit problems. This is why problems are only 'uncovered' after events have happened or have been happening for some time.

This has now become endemic in society so that the problems with hospitals are only now being uncovered despite the fact that people have known about them for some time. Many did warn about the banks over the years but their warnings were ignored.

Radiantsoul

Andrew64 wrote: »

Politicians don't normally say this sort of thing! Will he now be accused of talking down the economy? Or is he just being honest?

"In a hard-hitting speech in London, the Tory leader painted a picture of the problems facing the country in the current recession, predicting that economy could shrink by as much as 10 per cent - the technical definition of a depression."

http://www.telegraph.co.uk/news/newstopics/politics/david-cameron/5018088/David-Cameron-warns-of-full-scale-depression.html

A 10% fall in national income is possible, but I suspect it is highly unlikely. Probably 4-6% is more likely, although a severe negative shock might cause this to leap. Had one of the banks collapsed a 10% fall would have been far more likely.

Radiantsoul

amcluesent wrote: »

We simply cannot afford the current level of non-productive overheads that have built up every aspect of society. The jobsworths in the council, the 'elf-'n'-safety zealots, outreach co-ordinators, the 'umin-rights cry-babies, the form-fillers and box-tickers, 'computer says no' half-wits.

Pretty much every 'job' advertised in the Gaurdian since 1997 is a nonsense and should be got rid of, saving a huge amount of tax.

All the fluff must be swept away. Only those that graft deserve a decent wage.

Two possibilities;
1. you are right and the powers that be are too stupid or corrupt to realise it.
2. you are wrong.

Wookster

Radiantsoul wrote: »

A 10% fall in national income is possible, but I suspect it is highly unlikely. Probably 4-6% is more likely, although a severe negative shock might cause this to leap. Had one of the banks collapsed a 10% fall would have been far more likely.

We shall see. I have a feeling the UK economy will shrink by 6% in 2009 alone. Add the nearly 2% in 2008 and possibly more shrinkage in 2010... over 10% is certainly in the realms of possibility.

There are still many other gremlins that have yet to be outed such as
- impact of Britain's own sub prime mortgage lending
- impact of unemployment on mortgage delinquency
- the budding seeds of crisis in Eastern Europe

Its not a very rosy picture at all

thriftybabe

Wookster wrote: »

We shall see. I have a feeling the UK economy will shrink by 6% in 2009 alone. Add the nearly 2% in 2008 and possibly more shrinkage in 2010... over 10% is certainly in the realms of possibility.

There are still many other gremlins that have yet to be outed such as
- impact of Britain's own sub prime mortgage lending
- impact of unemployment on mortgage delinquency
- the budding seeds of crisis in Eastern Europe

Its not a very rosy picture at all

OMG Wookster keep these things to yourself. As soon as you put these things into public domain they seem to come true! Anyway lotto numbers this week .........................

lynzpower

The problem is this is one of the most glaring examples of kicking the gate to, when the horse has well and truly done one.

There are a lot of posters on here, none of whom would call themselves geniuses ( genini?) who could have seen this coming and in fact did.

Although I have a lot of time for Cameron - he seems like a good guy really- at the end of the day, he and none of the so called advisors he surrounds himself with saw this coming- OR if they did- and I wonder if they did, they must have really, if Average Joes on here did- chose to keep thier mouths shut, so that disaster could truly impend so they could clean up come the election.

Because the conservatives have been SO silent on this,How can we trust them now?

(Im voting LD by the way- if im still here! and would dearly love to see a hung parliament, or a power share of some sort. this has been mooted in the past, so could be possible)

elona

Must stop reading so quickly as I was about to point out that hanging is too good for them!!!

Then realised you said "hung parliament!":o

On the other hand isn't capital punishment still possible for treason?

If practically destroying your own country isn't treason then it seems very close.:mad:

In a bad mood as I just got the latest forecast on what our endowment mortgage will pay out in a few years. Grrh!!! Just glad we are not relying on it.

StevieJ

Conservative government would focus on driving down debt ahead of tax cuts.

I agree with him, if the Tories insist on driving down debt if they achieve power we will be in a depression in no time :eek:

Degenerate

StevieJ wrote: »

Conservative government would focus on driving down debt ahead of tax cuts.

I agree with him, if the Tories insist on driving down debt if they achieve power we will be in a depression in no time :eek:

David Cameron = Herbert Hoover. I'm terrified of the prospect of a Tory government.