GDP figures expected to show the UK economy has slowed

Heyman_2

http://www.bbc.co.uk/news/business-14275637

Doesn't look like today's figures are going to be good and this Royal Wedding excuse has a certain 'leaves on the line' ring to it.

Osbourne, meanwhile, is living in some fantasy land where the Coalition have everything under control -

"We have brought stability to the British economy, we have brought interest rates down and we are creating private sector jobs. That is all evidence that our economic plan is working and on track," he told a press conference.

abaxas

Lets just take the 5-10% gdp hit, get those houses reposessed, throw people on the street and rebuild.

The current plan simply isnt working, but you cant change from it, for political reasons.

Heyman_2

You are correct in that it would be political suicide to force that scenario.

Also that scenario would cause unpredictable carnage in all areas of the economy and society at large - I'm not sure you'd have much left to rebuild after you'd executed that plan in all honesty.

IronWolf

I'll take moderate to flat growth over "growth" funded by rising government debt any day.

peakoil_2

abaxas wrote: »

Lets just take the 5-10% gdp hit, get those houses reposessed, throw people on the street and rebuild.

The current plan simply isnt working, but you cant change from it, for political reasons.

your plan is worse. except for you, of course. :rotfl:

Heyman_2

IronWolf wrote: »

I'll take moderate to flat growth over "growth" funded by rising government debt any day.

Definitely, but -

http://www.economonitor.com/blog/2011/07/osborne-struggles-to-conquer-the-debt-mountain/

For the first three months of this fiscal year, 2011-12, borrowing was £39.2 billion, only a whisker below the £39.5 billion total for the corresponding period of 2010-11. This is a year when borrowing should be falling significantly, as throughout the parliament, by about £2 billion a month compared with a year earlier.


It is not happening. Borrowing is at best stuck at the levels of a year earlier. The pain, it seems, is in vain.

They really need to start backing up all the rhetoric with actual results.

abaxas

peakoil wrote: »

your plan is worse. except for you, of course. :rotfl:

Not really, I'm happy for a haircut if things get sorted out.

The problem is, people not expect to have what they want and not actually pay for it.

peakoil_2

abaxas wrote: »

Not really, I'm happy for a haircut if things get sorted out.

The problem is, people not expect to have what they want and not actually pay for it.

the problem is that people like yourself seem to think we have to destroy everything before we rebuild, thus starting at a lower level and taking decades not years to get back to where we are now.

wotsthat

abaxas wrote: »

Not really, I'm happy for a haircut if things get sorted out.

The problem is, people not expect to have what they want and not actually pay for it.

In an earlier post you advocated taking a 5-10% GDP hit, repossessing houses, and throwing people out on the street.

I'm assuming that the haircut you are willing to take doesn't involve YOU being thrown out on to the street.

abaxas

peakoil wrote: »

the problem is that people like yourself seem to think we have to destroy everything before we rebuild, thus starting at a lower level and taking decades not years to get back to where we are now.

The issue is the current 'system' is near breaking point. I simply dont want a situation where society / the economy actually breaks.

And why is it wrong to expect people to honour contracts? Or is 'buying stuff we cant afford' now a human right?

peakoil_2

wotsthat wrote: »

In an earlier post you advocated taking a 5-10% GDP hit, repossessing houses, and throwing people out on the street.

I'm assuming that the haircut you are willing to take doesn't involve YOU being thrown out on to the street.

funny how these solutions always seem to require OTHER people's sacrifices for the greater good. :rotfl:

"one for all and all for me" - the three Abaxasteers!

"the needs of the one outweigh the needs of the many" - Dr Abaxaspoc!