Are we REALLY in a Recession? I mean REALLY?

N1AK

MrRee wrote: »

The small, 0.3%, drop in growth means nothing on the ground.

You're ignorant enough to think that your own anecdotal observations provide a remotely valid metric to judge the economy as a whole. You're also egotistical enough to think you can make valid sweeping statements about the impact on others, which are at or below the level a typical Daily Mail columnist can manage; It's odious and pathetic on many fronts.

N1AK

yertiz wrote: »

Same old.... why bother to respond to the OP in the first place as it always ends up with mud slinging, which is the sole purpose...

Thanks for the reminder I knew there was a ignore list for a reason :beer:

chucky

N1AK wrote: »

You're ignorant enough to think that your own anecdotal observations provide a remotely valid metric to judge the economy as a whole. You're also egotistical enough to think you can make valid sweeping statements about the impact on others, which are at or below the level a typical Daily Mail columnist can manage; It's odious and pathetic on many fronts.

He's right though. A GDP contraction of 0.3% isn't noticeable to the man on the street.

Joe_Bloggs

Does anyone recognise that car model in the picture above ? I'm sure it is kept as an investment rather than an eyesore to annoy the neighbours.
J_B.

SingleSue

MrRee wrote: »

I appreciate the Technical Term - I've simply not seen any slowing up of the economy from my standpoint ..... indeed, even when I travel around, the 'problem areas' ever were so.

We are not seeing affluent places become slums ..... we are seeing slums cement their positions, maybe.

But, you look at any Council House across the land and you will see a sky satellite on the roof, a 42" Plasma TV in the lounge, a new BMW outside and a foreign holiday being booked in the kitchen.

The small, 0.3%, drop in growth means nothing on the ground.

Not in mine you won't.... I have a 32 inch TV in the lounge (plus an old, very old 14inch portable in my bedroom, a non working 14 inch portable in the kitchen, a cracked 14 inch portable in another bedroom and an old, very very old 32 inch CRT in another bedroom), a Sky dish on the roof (but only receiving free channels), an 18 year old Astra outside and no foreign holidays being booked, last time I went abroad was in 2005 to Italy for a few days.

Our town centre is dying on its !!!!, every time we go up another shop has closed, ok this is partly to do with the shared space scheme and the increase (and backdating) in business rates but also because people are not spending as much. I visit the town centre, I go in the shops but I rarely buy things, so a busy shop does not always mean lots of spending.

I don't even live in a deprived area, employment is generally ok here due to being the site of the largest port in the UK and one of the largest in Europe but I have seen plenty of old names go in the last few years and not many new names replacing them.

N1AK

chucky wrote: »

He's right though. A GDP contraction of 0.3% isn't noticeable to the man on the street.

No he's not. It's not like a 0.3% contraction means that someone came along and took 0.3% off of each wage and benefit package equally. It means that business revenues are down and almost invariably that means layoffs, closures and pay freezes. A 100% increase in lung cancer isn't noticable to the vast majority of people who still don't get it, it is however a massive deal to the thousands it does hit.

Many people have gone for 2-3 years with little if any pay increase (and others lost jobs) and high inflation. Losing 5-10% of your income in real terms is a very sizable change.

£0.01 pence isn't worth worrying about. However if someone proposed taking it off you every second it builds up to a noticable amount ~£3k pa.

chucky

N1AK wrote: »

No he's not. It's not like a 0.3% contraction means that someone came along and took 0.3% off of each wage and benefit package equally. It means that business revenues are down and almost invariably that means layoffs, closures and pay freezes. A 100% increase in lung cancer isn't noticable to the vast majority of people who still don't get it, it is however a massive deal to the thousands it does hit.

Many people have gone for 2-3 years with little if any pay increase (and others lost jobs) and high inflation. Losing 5-10% of your income in real terms is a very sizable change.

£0.01 pence isn't worth worrying about. However if someone proposed taking it off you every second it builds up to a noticable amount ~£3k pa.

That's all fine and not untrue but most people won't be personally affected by the recession directly which is the point that a 0.3% contraction is very minor. They may notice things happening around them but they probably not be directly affected.

To make the point, is it worse to have a 0.3% contraction or growth to fall from 4% to 1%.

MrRee_2

Excellent point chucky, and completely lost on idiots who simply do not understand that 0.3% means absolutely nothing to the man or woman in the street.

As you rightly say, a fall in growth from 4% to 1% in one month WOULD signal an impending disaster ....... that's a 3% drop.

Even a 3% drop would not affect the person in the street in that month or the month after ....... it would be the trend which would be of concern.

There's so much rubbish spoken on here that it's a refreshing sight to see that some such as chucky can see clearly as I do.

chucky

MrRee wrote: »

Excellent point chucky, and completely lost on idiots who simply do not understand that 0.3% means absolutely nothing to the man or woman in the street.

As you rightly say, a fall in growth from 4% to 1% in one month WOULD signal an impending disaster ....... that's a 3% drop.

Even a 3% drop would not affect the person in the street in that month or the month after ....... it would be the trend which would be of concern.

There's so much rubbish spoken on here that it's a refreshing sight to see that some such as chucky can see clearly as I do.

You scare me.

MrRee_2

You're just jealous because the voices are speaking to me .....