City taken by surprise as Bank of England’s figures herald end of recession

Really2

mbga9pgf wrote: »

It would have felt like the 30's

Come off it, no one actually believed that did they? (if they did they have bigger problems than the economy)

Rochdale_Pioneers

the only way we as a country will turn our economy around is to get the economy moving again. get back into growth and people start to spend again, businesses grow, tax revenues rise. We have read so much about the size of the UK's debt and how - as Cameron put it yesterday - we're likely to default, and yet they are all based on recession forever. Move to recovery and see government bills decline and government revenues rise. That spending deficit doesn't seem as set in stone as has been made out. Then add in the vast billions to be recovered from selling our banking industry back to private owners, and things look even better.

Remember that Darling forecasted growth from Q4 this year. How he was ridiculed as being completely out of touch from the reality of the mess. Now we have the Bank of England forecasting growth a full quarter earlier and the government knockers are busily wanting to know why the UK isn't experiencing the same early growth - something that 12 months ago they described as ludicrous to even consider - being experienced in France and Germany.

Dan:_4

mbga9pgf wrote: »

It would have felt like the 30's if the BOE didnt engage in a bigger QE process that the Bank of Japan did and the Fed has (as a proportion of GDP).

The pain hasnt even started yet. Just wait till we get forced to run a balanced budget.

That is wishful thinking from the bearish of bears who earn minimuim wage and dream of owning a home. I don't know why because if it does turn into the 1930's then buying a home would end up being the least of your worries.

In reality, it is nonsence - and everyone know's it.

Graham_Devon

mbga9pgf wrote: »

It would have felt like the 30's if the BOE didnt engage in a bigger QE process that the Bank of Japan did and the Fed has (as a proportion of GDP).

Exactly

Graham_Devon

Rochdale_Pioneers wrote: »

Remember that Darling forecasted growth from Q4 this year. How he was ridiculed as being completely out of touch from the reality of the mess.

Yes. But I also remember how when that was predicted, we didnt know the full scale of how far this government and BOE would go on a political gesture to get things turned around by spring 2010.

Thrugelmir

bendix wrote: »

Germany in the early 30s was an entirely different beast from the west in the 2000s. Come off it.

People were hungry then. They were more politically charged. They were less dumbed down by benefits, Sky TV and Hello magazine.

Yes, there will be an underclass as there always has been, even in the most positive economic times. But the nature of that underclass is - and always will be - very different to that in the 1930s. It is an underclass that is getting fatter, not angrier. It is an underclass that is socially alienated, not politically charged. And it is an underclass more fixated on Monster Munch and Chocolate Hobnobs, than revolution.

It was merely an observation. As initially it was politically motivated (rather than military or other reasons) in the beginning. As certain sections of Germanys ruling classes were extremely affluent even in the depression.

Where I disagree though. Is people will get angrier for many reasons. Until you yourself are in a particular situation its impossible to emphasise fully.

I would imagine you'd get an angry response to comments like "And it is an underclass more fixated on Monster Munch and Chocolate Hobnobs, than revolution". A very sweeping comment.

I've been involved in a redundancy programme to reduce headcount. Something I've done on several occassions and its not a pleasant task. As the people that are going are hardworking, pleasant, average people. More than likely they will struggle to find work in the short term. Yet some could join the "underclass" as I have no personal knowledge of their financial situations.

Last night on a property programme. One lady buyers key criteria was that the property she purchased had to have a wow factor, for when her friends arrived. Kerb appeal. As she wanted something to show for her £500,000 spend. In a way sums up a general attitude in society. That many will find rather offensive.

chucky

mbga9pgf wrote: »

It would have felt like the 30's if the BOE didnt engage in a bigger QE process that the Bank of Japan did and the Fed has (as a proportion of GDP).

The pain hasnt even started yet. Just wait till we get forced to run a balanced budget.

Graham_Devon wrote: »

Exactly

you're obviously not happy about the economy not becoming 1930s Depressionville... :rolleyes:

chucky

Thrugelmir wrote: »

Last night on a property programme. One lady buyers key criteria was that the property she purchased had to have a wow factor, for when her friends arrived. Kerb appeal. As she wanted something to show for her £500,000 spend. In a way sums up a general attitude in society. That many will find rather offensive.

i see nothing at all wrong with this.

as long as you live within your means why should this be a problem.

Really2

Graham_Devon wrote: »

Exactly

You wanted it go back to the 30's.:rolleyes:

Can you see any other western country living like the 30's?

Not even Iceland or Latvia.

The stance is pathetic, wanting people to suffer, for what? I want to know, I am really am interested for some kind of justification.

Dan:_4

Graham_Devon wrote: »

Yes. But I also remember how when that was predicted, we didnt know the full scale of how far this government and BOE would go on a political gesture to get things turned around by spring 2010.

Yes. But I also remember the vast majority of this board were saying it doesn't matter what the Government and BoE ever do - it will not make a difference and armageddon is unavoidable.