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Recession
Comments
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shortchanged wrote: »OK, these are the facts.
The US economy is in the sh*t, as is most of the Eurozone. Even Germany's economy is starting to show cracks in their recovery now.
China is starting to slow down as well.
The UK was always going to struggle to avoid a double dip recession because of the austerity measures and the deteriorating global situation is making it ever more likely.
The governments and central banks of many of the worlds economies are seriously running out of ideas and are throwing good money after bad.
Now can anyone see any light at the end of the tunnel?
If anyone can see the light, whats to say it's not actually a train heading straight for us?[FONT="]“I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” ~ Maya Angelou[/FONT][FONT="][/FONT]0 -
Loughton_Monkey wrote: »
Yes, Keynes lived in a time where he couldn't imagine a nation being in such debt.
What utter rubbish.
UK debt as a percentage of GDP was way higher during the 1920's, 1930's, 1940's and 1950's than it is now.US housing: it's not a bubble - Moneyweek Dec 12, 20050 -
Some say this recession has proved Keynesian ideas to be wrong. You cant just spend your way out of recession if your borrowing costs reach higher levels as a result
Who exactly is saying this ?
If anything it appears that it is proving Keynes right.
The problem is that Brown ran a deficit during a boom when Keynes would have recommended running a surplus.
We can reduce the deficit by growing the economy, devaluing the currency and a bit of inflation.
What will prove impossible is trying to cut the deficit purely by cutting spending.US housing: it's not a bubble - Moneyweek Dec 12, 20050 -
Any political bias in this response?
You can attack Loughton all you like but he is one of the smarter thinkers on this site.
Your posts to date demonstrate the understanding of a simpleton.
.
Relax
Calm down your going to blow a head gasket..!
Thats the whole point of this thread.....! I am trying to understand things
:rotfl:0 -
Relax
Calm down your going to blow a head gasket..!
Thats the whole point of this thread and coming on this website.....! I am trying to understand things.
:rotfl:
To only reference Brown and Darling when in regards to the recession, without mentioning the bankers responsibly - Wall street, the euro zone, the failing global economies, inflation, oil rises, The USA ect ect ect. Is far from being a smart thinker - biased politcal thinker maybee.
Thats not to say that Brown and Darling did not have a responsibility.However there is a bigger picture as mentioned above.
Weeeeeeeeeeeeeey!0 -
Kennyboy66 wrote: »Who exactly is saying this ?
If anything it appears that it is proving Keynes right.
The problem is that Brown ran a deficit during a boom when Keynes would have recommended running a surplus.
We can reduce the deficit by growing the economy, devaluing the currency and a bit of inflation.
What will prove impossible is trying to cut the deficit purely by cutting spending.
Brown ran a surplus for 4 years - big surpluses which he used to pay down debt. Remember the media storm over 49p pension rises? Then at the 2001 election Labour got elected on a platform of borrowing to invest and won by a landslide. So he borrowed, and prior to the start of the crash had committed the keynesian crime of reducing debt levels vs those he inherited in 1997.
So yes, he ran a deficit. Half the time. Which added up to less than he paid off. Incidentally for how many of the Tories 18 year rule did we run a deficit?0 -
worldtraveller wrote: »As others have already said, have we actually come out of the last (current) recession? In technical terms I have always believed that we are likely to have a double-dip recession (then also why not a triple, or more?). It will probably be a close call, but, IMHO, there is a strong possibility that we will have negative GDP growth in the UK in both Q3 & Q4. After that......?
I think you are referring to a depression worldtraveller.0 -
shortchanged wrote: »I think you are referring to a depression worldtraveller.
A recession is when your neighbor loses his job. A depression is when you lose your job.
There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
Rochdale_Pioneers wrote: »Brown ran a surplus for 4 years - big surpluses which he used to pay down debt. Remember the media storm over 49p pension rises? Then at the 2001 election Labour got elected on a platform of borrowing to invest and won by a landslide. So he borrowed, and prior to the start of the crash had committed the keynesian crime of reducing debt levels vs those he inherited in 1997.
So yes, he ran a deficit. Half the time. Which added up to less than he paid off. Incidentally for how many of the Tories 18 year rule did we run a deficit?
This country has been in debt since 1694 in one way or another. The national debt is nothing new, so running a surplus for 4 years seems to be quite an achievement in the grand scheme of things.0 -
Do you think there will be another recession though...?
Will building and manufacturing services suffer.
The construction industry is already completely knackered and is getting worse by the day.
Lots of firms are just grabbing as much as they can before they go bump so if we get a double dip its all over.0
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