MSE News: UK economy still in recession

Thrugelmir

Generali wrote: »

It's funny, any other country in the world would be celebrating the rise of a suburban nobody to the highest elected office in the land. In Britain, the newspapers sneered at his wife for good housekeeping (keeping old bits of cheese to use in cooking) and at him for being a 'failed bus conductor'.

But the affair with EC was a relevation. :rolleyes:

LauraW10

Generali wrote: »

It's funny, any other country in the world would be celebrating the rise of a suburban nobody to the highest elected office in the land. In Britain, the newspapers sneered at his wife for good housekeeping (keeping old bits of cheese to use in cooking) and at him for being a 'failed bus conductor'.

Major wasn't as dull as your painting him though, was he now?

Snooze

MSE_Natasha wrote: »

This is the discussion thread for the following MSE News Story:

"Hopes for an end to recession were dashed today after new figures showed the economy shrank for a record sixth quarter-year in a row..."

Read the full story:
UK economy still in recession



ps. this thread started before the news story was published so has been merged to avoid duplication. Thanks to inspector monkfish for the original post.

:rotfl:

Crash [STRIKE]cancelled[/STRIKE] back on ! :j:T:j:T:j:T:j:T

70% off house prices by Christmas :T:j.

R

Davesnave

Thrugelmir wrote: »

No wonder Labour are proposing continued investment.

While people are being picky here, shouldn't that be 'investment' in inverted commas? That's Darling's take on it, but we've been told that not enough of the QE money is getting through to businesses.

IMO, based entirely on nothing more scientific than my knowledge of human nature, we've had a choice of palliative or curative medicine here and, because we don't like the unpleasantness, we've gone for the former. If things are really going to change significantly, people will need to be pushed, screaming, out of their comfort zones, because it will bloody hurt!

At the moment it's mainly the little guys who've had the nasty medicine and, much as I sympathise with anyone so affected, in the bigger picture, their suffering isn't going to make a whole heap of difference.

mbga9pgf

Yep. Banks should have been made to suffer. Q3 figures show, quite clearly, that the party is over for those wanting a life on credit and ever-rising house values.

Spiv_2

Gorgeous_George wrote: »

Recession is good.

I have a 3 year pay deal and my mortgage is 1.24%. Happy days!

Only kidding!

GG

Many a true word spoken in jest

THE shock figures on the poor state of the economy today offer good and bad news for consumers.
On the positive side, the 0.4 per cent contraction in national output between July and last month, instead of an expected return to growth, brought predictions from the City that any rise in interest rates will be delayed until at least the end of next year.
That will bring some cheer to homeowners on variable rate mortgages, as well as to those seeking to pay off credit card debts and other loans, although savers will continue to suffer from low returns. Shares also rose in response to the figures.

Thrugelmir

Davesnave wrote: »

While people are being picky here, shouldn't that be 'investment' in inverted commas? That's Darling's take on it, but we've been told that not enough of the QE money is getting through to businesses.

IMO, based entirely on nothing more scientific than my knowledge of human nature, we've had a choice of palliative or curative medicine here and, because we don't like the unpleasantness, we've gone for the former. If things are really going to change significantly, people will need to be pushed, screaming, out of their comfort zones, because it will bloody hurt!

At the moment it's mainly the little guys who've had the nasty medicine and, much as I sympathise with anyone so affected, in the bigger picture, their suffering isn't going to make a whole heap of difference.

Business on the whole is cutting back, reducing debt. QE's primary function was to keep the banks afloat. As banks had lent more money than they could, following the collapse of the wholesale money markets. So the situation requires continued spend but a contraction of debt. A heady cocktail in the middle of a recession. To put the numbers in perspective UK Corporate debt was around £480 billion in total at the end of 2008 , QE is pumping in around £175 billion. Companies don't require this level of funding.

SingleSue

lostinrates wrote: »

I feel just the same as I did yesterday.

Is there a reason why I shouldn't I guess I'm asking.

I feel a lot worse than I did Thursday first thing....but then it's nothing to do with the economy.

Afraid these figures pale into insignificance for me and although I do understand the eekness of it, I just can't get myself to be interested in anything the economy is doing right now.

Primrose

Somebody sent me this link - the website is worth a look, even only to see the real debt figures mounting up on a minute by minute basis: www.debtbombshell.com/

Wookster

Where is Rochdale to defend our "dear leader"??