UK 2Q GDP surpasses all expectations - Fastest Pace In 4 Years

Graham_Devon

So it now looks as if interest rates are likely to go up quicker than previously thought (say a week ago), and QE isn't as likely to happen as it was (say a week ago), based on this growth.

See, my questions are sometimes relevant

Really2

Graham_Devon wrote: »

See, my questions are sometimes relevant

In a cup half full way GD we know what the others are then.

It is interesting and if it carrys on great, More employment, pay rises etc are going to be good things.

Won't look good for a second leg down though, nominal falls would be very unlikely should we see a brisk recovery. (lets not fall out on nominal:))

StevieJ

Really2 wrote: »

So it is OK to include a recession in the conservative figures and not labours?

Then again Brownie had no family silver to sell and no oil suddenly gushing into the treasury (only gold ).

Really2

StevieJ wrote: »

Then again Brownie had no family silver to sell and no oil suddenly gushing into the treasury (only gold ).

(I think they sold some they let the train frachisess go through also I think some class PFI as privatisation of schools and hospitals)
Thank god he held on to it..... oh hang on.

tomterm8

If you're really going to criticise Brown and the labour government, gold is the least of the things he boogered up:

* Agreeing to the social chapter
* Giving europe the power to increase its soverignty over the British people without any vote by parliament
* Roughly £100 billion of crap IT procurement, where projects were over budget and not delivered
* Failing to manage NHS expenditure, allowing vast wage inflation where it was unnecessary
* Building a huge client state, where practically everyone of median income relies on benefit
* Allowing the devolution of ireland, scotland and wales, while leaving scottish MPs to decide english matters, bringing the end of the union much closer
* Supporting torture, and illegal imprisonment of "terrorist" suspects
* Supporting an illegal war, which has brought Iran to the edge of becoming a nuclear power
* failed to do adequate strategic reviews prior to 9/11, so the intelligence network had little or no capability in the islamic world

That's just the start of the list.

Thrugelmir

Really2 wrote: »

I have answered some of your questions but you still fail to see a massive deficit before the recession as the cause of the big hole we are in.

An issue that still requires an answer, as the same old line is being rolled out. Milliband looked distinctly uncomfortable and unconvincing when interviewed by Andrew Neil last night. Mandelsons recent relevations have blown away some of the fog and not helped the new party leaders cause ( if they are ex cabinet).

Wookster

Thrugelmir wrote: »

An issue that still requires an answer, as the same old line is being rolled out. Milliband looked distinctly uncomfortable and unconvincing when interviewed by Andrew Neil last night. Mandelsons recent relevations have blown away some of the fog and not helped the new party leaders cause ( if they are ex cabinet).

Do you mean Ed on the Politics show last night?

I did like him but he has even less credibility than Gordon Brown on the economy (I didn't think that was possible).

tincans

Really2 wrote: »

(labour came in power when the deficit was virtually gone.)

The deficit was certainly not "virtually gone".

It should be apparent from your graph that both parties don't actually like running a surplus & that the UK population demand decent Health & Ed. but don't like paying for it.

The Tories only ran a surplus in 2 years out of 18 during 1979 - 1997, and although they should take some credit for the 1997 - 2000 period, Ken Clarke is on record as saying the Tories would have spent more than Labour during that short period.

The history of UK debt from 1945 onwards is letting inflation erode it.