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

mbga9pgf

Really2 wrote: »

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.

!!!!!! - It isnt about what is wanted, its about what is necessary to rebalance the economy.

We are currently experiencing collapsing production. The bulls go on as if we will be back to 2007 levels of industrial and economic production overnight, forgetting that the global economy has just recovered from a massive heart attack, capital is massively constrained and is set to remain constrained for at least a decade. Unless you support spending more than we can afford to spend to satisfy our living standard today to the detriment of the next generations?

mbga9pgf

chucky wrote: »

what a great guy!!! :rotfl::rotfl::rotfl:

Why choose to ignore the initial post that caused the reaction?

Graham_Devon

Really2 wrote: »

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

Now now Really and Chucky.

If you can explain to me how I even hinted at a suggestion that I wanted it to go back to the 1930's or be as bad as, or indeed wanted people to suffer, just by saying "Exactly" then we can argue till were blue in the face!

Until you can show me where it was I suggested, implied or even nodded in the general direction of what you are saying, and then calling it a pathetic stance, I'll ignore your obvious and somewhat deluded attempts at fishing, as fun as it is

Graham_Devon

Dan: wrote: »

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.

I don't. Maybe you could find one single quote.

Thrugelmir

chucky wrote: »

i see nothing at all wrong with this.

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

Its a reflection of society where what we own in terms of status symbols ( material goods and their branding) matters more than who we are as people.

The fact that was for £500,000, for a property, in a village with views, and a large garden, and a large study , it isn't a huge amount of money even in the current market. She was put off merely by arriving at the property. Concerned with what other people would think of it rather living inside it as a home.

Graham_Devon

PMSL at this thread. We really do respect each other on this forum :D

mbga9pgf

Dan: wrote: »

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.

July's deficit was 8 BILLION for gods sake, that is over a factor of 10 away from where it was supposed to be and a pretty hideous figure. We are going to be budget reducing and tax raising all the way through the next government to sort this out.

All the pain is around the corner. Much better if the government took a little more pain now and make the job next year that much easier. Not going to happen though is it with the Tories guaranteed to get elected. You bulls are all so short sighted.

Really2

It's just like old times.:beer:

the.ciscokid

Really2 wrote: »

Surely small growth is better than falling GDP?

Thing is GDP also includes government spending, and boy does this government like spending. As we know the country is in HUGE amounts of debt, all the rules about government debt as a function of GDP have been thrown out of the window by this spendaholic government.

My point is the government are still spending at record levels, and pumping money through QE into the banks (having already bought up all their TOXIC debt). The banks have used this to balance their books and invest in the stock markets (hence the recent growth in the FTSE etc).

All the money the government are spending is borrowed (rising unemployment + poor performance and closing of businesses = less tax). This GDP increase is, therefore, debt fuelled.

Thrugelmir

July's deficit was 8 BILLION for gods sake, that is over a factor of 10 away from where it was supposed to be and a pretty hideous figure. We are going to be budget reducing an tax raising all the way through the next government to sort this out.

All the pain is around the corner. Much better if the government took a little more pain now and make the job next year that much easier. Not going to happen though is it with the Tories guaranteed to get elected. You bulls are all so short sighted.[/QUOTE]

You are right. For the Government unlike Companies though, it cannot make instant decisions. The processess are a lot slower. A lot of the cuts to be made will in themselves be small and indignificant. The sums involved are huge in rebalancing the economy. In many ways the Government/ BOE can only steer the economy, not directly influence it. Market forces dictate events.

I doubt whether anybody has the answer currently. Its more a question of keeping the lifeboats afloat and hoping we drift to shore as the storm gradually subsides.