OECD: UK will miss start of recovery

Really2

mewbie wrote: »

All conjecture. .

Indeed just like the posters point, letting it all fall down.

I think you will find the world wide affect of this was far greater than two nations property prices.

I think most nations had some kind of property bubble.

It was a world wide crash, not two nations.
Many nations not just two will be borrowing or in debt for many years to come.

mbga9pgf

Really2 wrote: »

What would have been the point, the outcome would have been worse and most probably even longer lasting! or is that the point?

My point is this; yes,worse and longer lasting, but we would have had firmer foundations to build on. Instead of the ones made of Jelly that Labour have left us with.

The whole point about recessions - to clear dead wood. Not to to take gutted shells of companies and support them with taxpayer cash.

Really2

mbga9pgf wrote: »

My point is this; yes,worse and longer lasting, but we would have had firmer foundations to build on. Instead of the ones made of Jelly that Labour have left us with.

The whole point about recessions - to clear dead wood. Not to to take gutted shells of companies and support them with taxpayer cash.

I would argue that many healthy companies would have been taken down also because of bad debt etc.

mbga9pgf

Really2 wrote: »

Indeed just like the posters point, letting it all fall down.

I think you will find the world wide affect of this was far greater than two nations property prices.

I think most nations had some kind of property bubble.

It was a world wide crash, not two nations.
Many nations not just two will be borrowing or in debt for many years to come.

Yeah, but many of them dont have this to contend with:



When combined with this:

Really2

mbga9pgf wrote: »

Yeah, but many of them dont have this to contend with:



I think we can disagree there most country's (G20) now have massive debts that will take generations to pay off.

mbga9pgf

But not as serious as ours when Public and consumer debt are added together... Most germans and french dont even own a credit card....

purch

OECD: UK will miss start of recovery

So what

Just like the Tortoise and the Hare.

We might miss the start, but what about the end :rolleyes:

You can be sure that the UK will reach the end of the recovery first :eek:.......we always do :mad:

Masomnia

mbga9pgf wrote: »

But not as serious as ours when Public and consumer debt are added together... Most germans and french dont even own a credit card....

Can you back that up?

What do the two different lines on the graph refer to?

mbga9pgf

Look Here:

http://www.bis.org/publ/cpss86.pdf

Germany, table 6:
Values in thousands of cards issued, figures for 2003,2004,2005,2006,2007

Cards with a cash function 116,355 114,836 109,071 104,217 117,037
Cards with a debit function 90,015 88,502 88,478 89,709 94,574
Cards with a delayed debit function3 17,923 17,994 18,349 18,260 11,610
Cards with a credit function nav nav nav nav 2,564
Cards with an e-money function 62,817 63,372 63,960 65,906 73,037
of which: cards with an e-money function which
have been loaded at least once nav nav nav nav 2,355

UK:

Cards with a credit function2 66,825 69,888 69,858 69,520 67,311

France

Cards with a credit function nav nav 31,159 28,897 32,720

That PDF is a pretty good indicator about how much sh*t we are in. Compare the populations and GDPs.

It has lots of other useful stats in it and figs are valid for 2007, figures released March 2009.

Graham_Devon

A bit more on this.

It now appears the OECD is predicting negative growth for quarter 3, and zero growth in quarter 4.

Alistair Darling is saying they are wrong.

In an interview on BBC Radio 4's Today programme, Darling said he did not accept the OECD forecast.
"The OECD has made predictions in the past ... some have turned out not to be spot on," he said.
"My prediction in the budget was that this country would come out of recession around the turn of the year. I hold to that view."

I don't really get it, he's now saying his prediction was that the UK would come out of recession in the turn of the year (2010).... he's agreeing with the OECD, but saying he's disagreeing!?