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UK at dangerous junction /Item Club
Butterfly_Brain
Posts: 8,862 Forumite
The UK economy has stalled at a dangerous junction, according to independent forecaster Ernst and Young.
http://www.bbc.co.uk/news/business-15326778
http://www.bbc.co.uk/news/business-15326778
Blessed are the cracked for they are the ones that let in the light
C.R.A.P R.O.L.L.Z. Member #35 Butterfly Brain + OH - Foraging Fixers
Not Buying it 2015!
Not Buying it 2015!
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Comments
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Unfortunately Ernst and Young aren't stating anything but the bloody obvious to most.0
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shortchanged wrote: »Unfortunately Ernst and Young aren't stating anything but the bloody obvious to most.
Indeed.
"Ernst and Young says the government should be looking to use targeted monetary and fiscal measures to support growth, as well as the latest injection of £75bn of further quantitative easing (QE).
It thinks further action should include cutting interest rates to 0.25% from their current record low of 0.5%, and a cut in stamp duty for first-time buyers."
Their economist was even on the news this morning calling for stimulus to get the housing market moving again.:)“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
[QUOTE=HAMISH_MCTAVISH;47753297
It thinks further action should include cutting interest rates to 0.25% from their current record low of 0.5%, and a cut in stamp duty for first-time buyers."[/B]
[/QUOTE]
A further cut in interest rates means we are well and truly in the Sh*t and will do absolutely nothing to stimulate the economy.
If the economy hasn't improved with interest rates at 0.5% for as long as they have been, then a further 0.25% cut is going to have sod all impact.0 -
shortchanged wrote: »A further cut in interest rates means we are well and truly in the Sh*t and will do absolutely nothing to stimulate the economy.
If the economy hasn't improved with interest rates at 0.5% for as long as they have been, then a further 0.25% cut is going to have sod all impact.
That might be valid if it weren't for the fact we are trading with other western nations that have been in dire straights - for example Spain with it's huge unemployment problem where public workers have not been paid for 5 months.
I'm surprised we're doing as well as we are.
Well be well into a new growth cycle by 2013 though, given the measures falling into place that are rebalancing the economy. Britain will be one of the most prosperous enterprise freindly places on Earth. Those with a narrow gloomy outlook (that predict by linearly trending out the current scene) will not agree with me.0 -
shortchanged wrote: »Unfortunately Ernst and Young aren't stating anything but the bloody obvious to most.
A pity that Osborne doesn't get it0 -
shortchanged wrote: »A further cut in interest rates means we are well and truly in the Sh*t and will do absolutely nothing to stimulate the economy.
.
Ah right.
So they're only "stating the bloody obvious" until we get to the part you don't agree with.
Good to know.;)“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
We have entered a period of stagflation the like of which we haven't seen since the 70's and that is a scary prospect because we no longer have the manufacturing base that helped get us out of the mire then.Blessed are the cracked for they are the ones that let in the light
C.R.A.P R.O.L.L.Z. Member #35 Butterfly Brain + OH - Foraging Fixers
Not Buying it 2015!0 -
I'll be interested to see the minutes of the October BoE meeting to see whether anyone voted for a 0.25% cut in the rate.0
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Due out this Wednesday.Blacklight wrote: »I'll be interested to see the minutes of the October BoE meeting to see whether anyone voted for a 0.25% cut in the rate.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 -
Interest rate cut to 0.25% will make sweet f all difference.Faith, hope, charity, these three; but the greatest of these is charity.0
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