UK GDP Preliminary Estimate Q2 2012 -0.7%

homelessskilledworker

Just a quick note on here before I dash off to work, it is not often discussed on this board and probably not discussed in general through the media.
But what if there is no growth coming our way in the future, after all we do not have a god given right to it.
The UK along with many other western countries is up to their necks in debt, we have a welfare system like no other on the planet where we will quite happily house a stranger crossing our borders with a sob story and six kids, or have someone on welfare where 10 years later we have to remove the door and walls to remove them after they blown up to 50st(we feed them well on welfare), we spend nearly a quarter of a Trillion pounds yearly on a welfare system that has to be funded by only 25 million working people.

I think we have a big awakening coming to this country, there are many hungry developing countries in this world who have hard working individuals that aspire to have what most of our welfare scroungers have. And it is not just welfare and I include myself here, we have a country where we have massive entitlement issues, you look at the way we are able to eat, travel, drive cars etc etc, we have had a bloody good run.

We will see growth one day, but maybe we have to hit a new rock bottom in the UK before we do so.

Wookster

Graham_Devon wrote: »

Slightly off topic, but does anyone know if Stephanie Flanders is a labour supporter?

She is clearly far from impartial. Its more the hints an innuendos that Labour is right rather then outright saying they are.

Graham_Devon wrote: »

Paul Mason on the other hand tonight suggested it's OK labour having a go, but they haven't even got a defecit reduction strategy, and secondly, wouldn't be physically able to do what they suggest and don't quite understand the complexity of the numbers.

I don't recall the last part (about complexity of numbers) but this is the first time anyone at the BBC has actually said that Labour has no credible deficit reduction program at all. I almost fell off my chair when I heard this.

Wookster

From her blog yesterday:

Some will say it's a bit rich for Labour to shout about this, when Alistair Darling had pencilled in cuts for public investment during this parliament that were every bit as large. But Alistair Darling is not now in charge and he hasn't been for two years

Its the last sentence that gives it away. The coalition is getting grief from labour for doing things they planned on doing anyways! That's rank hypocracy if you ask me.

RenovationMan

Wookster wrote: »

Its the last sentence that gives it away. The coalition is getting grief from labour for doing things they planned on doing anyways! That's rank hypocracy if you ask me.

I honestly can't believe that Labour would be doing anything different from what the Cons are doing.

ILW

RenovationMan wrote: »

I honestly can't believe that Labour would be doing anything different from what the Cons are doing.

I honestly can't believe that labour did what they did last decade, but they did.

They just love spending others peoples money.

RenovationMan

ILW wrote: »

I honestly can't believe that labour did what they did last decade, but they did.

They just love spending others peoples money.

Always have, always will.

kabayiri

ILW wrote: »

I honestly can't believe that labour did what they did last decade, but they did.

They just love spending others peoples future money.

Corrected that for you

I've seen some of the terms for just one PFI deal that was done. Honestly, no MSE respecting individual would have touched it. There was no real control of future cost increases due to additional refurbishment, and the the cost justifications were just about doable assuming ideal conditions. (How often does real world disrupt ideal!)

The people who signed up to such deals were either too stupid to understand the impact, or perhaps they didn't care/worry about future costs to be picked up under a different administration. To me this is negligence.

Thrugelmir

homelessskilledworker wrote: »

But what if there is no growth coming our way in the future,

Growth is not the be all and end all.

Rebalancing the economy takes time. Growth in new private sector jobs is outstripping those lost in the public sector.

So while headline figures may not look great. There is change happening.

RenovationMan

Thrugelmir wrote: »

Growth is not the be all and end all.

Rebalancing the economy takes time. Growth in new private sector jobs is outstripping those lost in the public sector.

So while headline figures may not look great. There is change happening.

Isn't the growth in the private sector due to low paid and part time jobs, while well paid and fulltime jobs were being lost in the public sector?

ILW

RenovationMan wrote: »

Isn't the growth in the private sector due to low paid and part time jobs, while well paid and fulltime jobs were being lost in the public sector?

I think the term "overpaid" rather than "well paid" may be more accurate in the public sector.