MSE News: UK economy still in recession

Graham_Devon

lostinrates wrote: »

I dn't really get why. It could have been worse, a lot worse. The figure produced doesnt change the news to all bad, just as if we had left recession the nws would have been all good.

Well. It could have been -30% and you could still say it could have been worse.

The point were at at the moment, is this is the worst it has been known in terms of time in a recession since records began.

So yes, it could have been worse, and no matter what the figure, it could always be worse. BUT, it hasn't been worse than this before now in terms of length if you see what I mean.

What this now means in terms of further stimulus is the problem. It could mean even higher debt, which means even longer to pay it back etc etc etc. That's the angle I am seeing this from. The longer we are in this, the longer we have to pay things back, and the more severe the payments will be.

inspector_monkfish

i'm not depressed, i saw this coming
plus i'm a banker
apparantly i'm getting a ma-hoooo-siv bonus according to some people...:cool:;)

purch

I think you may have to translate that for me!

Futures UP

Rates DOWN

lostinrates

Graham_Devon wrote: »

Well. It could have been -30% and you could still say it could have been worse.

The point were at at the moment, is this is the worst it has been known in terms of time in a recession since records began.

So yes, it could have been worse, and no matter what the figure, it could always be worse. BUT, it hasn't been worse than this before now in terms of length if you see what I mean.

But Graham, slow and steady corrcetion, giving people time to adust to a potential shift in spending could be better than unsustainable growth. Both are better than a greater contraction.

julieq

Ah !!!!!!, we're all doomed again

inspector_monkfish

purch wrote: »

Futures UP

Rates DOWN

nicely put

1984ReturnsForReal_2

Wait until its rounded down to 0.5%...

ruggedtoast

purch wrote: »

Futures UP

Rates DOWN

I'm still not really sure what you're on about - but as I'm locked well above base rates on my savings anyway - and am currently looking for a mortgage - I'll assume this is good news, for me, which is what I mainly care about.

Generali

Does this now mean that Mrs Thatcher is no longer the evilist Prime Minister since records began now someone else has resided over a bigger recession?

PS Interesting story in last week's Economist about Japan's experience with QE:

THE Bank of Japan (BoJ) pioneered the process known as quantitative easing (QE) in 2001-06, when it massively boosted the reserves that commercial banks held at the central bank. Its verdict on how well QE worked then ought to interest policymakers today. It will also discomfort them. For all that it propped up Japan’s creaking banking system, QE did not really improve the economy nor end the country’s deflationary mindset (see chart)....

lostinrates

julieq wrote: »

Ah !!!!!!, we're all doomed again

I feel just the same as I did yesterday.

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