Is this good news or bad news?

chewmylegoff

homelessskilledworker wrote: »

The UK went into a technical unofficial recessision five years ago and we have not come out, the only reason we have not felt it as bad as we should of is because we used the state credit card and priniting a third of a trillion pounds.
There is a reluctance in the UK/Europe/western world to take your medicine after borrowing for what you wanted earlier.

We may borrow another 100 billion here and 100 billion there(and the Euro zone might do the same), but D day is surely creeping up on us fast.

What is the definition of a technical unofficial recession? Is it when you say there is a recession, but there actually isn't one?

homelessskilledworker

chewmylegoff wrote: »

What is the definition of a technical unofficial recession? Is it when you say there is a recession, but there actually isn't one?

Look Pal:) I really do not have a problem with you having(or claiming) that you have a complete differing opinion to me. If you think it's ok to claim to have avoided a recession by pumping over a 3rd of a Trillion £'s, along with reducing interest rates to the lowest since the BOE was formed and plus every other gimmick that was introduced from bailing out FAILED banks with taxpayers money to pressuring banks not to act on defaults etc etc...

It's like saying your flashy neighbour without a job has done well with his house purchase because he paid the mortgage with his credit card for the last five years.

And by the way I would just like to add one other thing, it might have escaped your notice but

WE ARE IN RECESSION

macaque_2

lvader wrote: »

I get the feeling some people are bitter that the economy wasn't left to rot and they feel cheated that they never got the chance to buy a house in the half prices sales that never heppenend. They then complain that the BOE isn't interested in price control.

There are are more productive ways of getting on in life than waiting for house prices to rise. I am not sure that the banks have worked that out yet (or you for that matter).

bankhater_1965

lvader wrote: »

The economy is stable, the GBP is stable, inflation is falling, we have ultra low interest government borrowing What isn't working?

the economy isnt growing = people are not spending ,
ultra low interest rates= the base rate is low but the lending between banks dont follow through , borrowing money is getting expensive again because the banks dont want to part with it as they still consider everything and everyone (apart from thereselves) a high risk , thats the biggest problem ,

lvader

macaque wrote: »

There are are more productive ways of getting on in life than waiting for house prices to rise. I am not sure that the banks have worked that out yet (or you for that matter).

I couldn't give 2 hoots if house prices rise or fall, it has no interest for me what so ever. I own my house, it's pretty much all paid for and I have no intension of selling or buying another one.

lvader

bankhater_1965 wrote: »

the economy isnt growing = people are not spending ,
ultra low interest rates= the base rate is low but the lending between banks dont follow through , borrowing money is getting expensive again because the banks dont want to part with it as they still consider everything and everyone (apart from thereselves) a high risk , thats the biggest problem ,

I was talking about ultra low gilt yields, that has nothing to do with the base rate, while they are low they can afford to borrow more and spend more propoing up the economy.

bankhater_1965

lvader wrote: »

I was talking about ultra low gilt yields, that has nothing to do with the base rate, while they are low they can afford to borrow more and spend more propoing up the economy.

may be so , but is it happening ??? NO

lvader

What do you think QE is?

bankhater_1965

lvader wrote: »

The UK economy is doing OK, not great just OK. I can see the risks, so can the BoE and the government that is why they are acting. People complian it's not working when it fact it very probably is. You only have to look at Europe to see what happens when you don't act in the right way.

I'm hedged against pretty much any outcome so I'm unlikely to greatly profit or lose whatever happens.

Invader i laughed at this comment , u cannot possibly believe what you have written when you write the economy is doing ok ? when is a economy ok when its in a DOUBLE DIP reccession caused by abunch of millionarres who are running the country , the conservatives have brought this country to its knees and is heading back towards victorian times

lvader

bankhater_1965 wrote: »

Invader i laughed at this comment , u cannot possibly believe what you have written when you write the economy is doing ok ? when is a economy ok when its in a DOUBLE DIP reccession caused by abunch of millionarres who are running the country , the conservatives have brought this country to its knees and is heading back towards victorian times

Does it really matter that much is the GDP grows or contracts less than 0.5%? The economy is essentially flat, i.e. keeping pace with inflation.