Triple Dip InEscapable - UK Back In Recession?

lvader

I was simply pointing out that the economy clearly hasn't tanked since the current government has been in power, by most measures the economy is clearly better.

Fella

grizzly1911 wrote: »

You can't blame labour for the GFC either. The actions taken in the aftermath of that overwhelm issues since, it was a total curved ball.

I disagree with this argument & it's actually one of if not the single thing I disliked most about Gordon Brown.

The GFC was preceded by years & years of financial boom times & absolutely massive tax receipts off the back of them. Gordon Brown smugly took credit for every bit of that boom & spent the revenue it generated & then some. As it happens he also wasted the majority of it but that's a side issue.

When the (inevitable) bust followed the boom, Brown never once acknowledged this. He simply continued to claim all of the credit for the boom years & blamed 100% of the downside on the crash. As if there was no relationship between the two.


Not many people predicted the exact nature or timing of the crash but MANY people were talking along the lines of "this will all end in tears" long before it happened. To call it a curve ball is a bit like saying that the straw that breaks the camels back is a curve ball. But just because no-one can predict exactly which straw will break the camel's back, that doesn't make it unexpected when one of them finally does.

grizzly1911

Fella wrote: »

I disagree with this argument & it's actually one of if not the single thing I disliked most about Gordon Brown.

The GFC was preceded by years & years of financial boom times & absolutely massive tax receipts off the back of them. Gordon Brown smugly took credit for every bit of that boom & spent the revenue it generated & then some. As it happens he also wasted the majority of it but that's a side issue.

When the (inevitable) bust followed the boom, Brown never once acknowledged this. He simply continued to claim all of the credit for the boom years & blamed 100% of the downside on the crash. As if there was no relationship between the two.


Not many people predicted the exact nature or timing of the crash but MANY people were talking along the lines of "this will all end in tears" long before it happened. To call it a curve ball is a bit like saying that the straw that breaks the camels back is a curve ball. But just because no-one can predict exactly which straw will break the camel's back, that doesn't make it unexpected when one of them finally does.

Politicians no longer call the shots they simply have to play the game as it is dealt. Big corporates pull the strings.

Non of them play the long term, successive governments, over the last 30 years, have simply spent would they could lay their hands on, whatever they could liquidate and sell they have, what they couldn't they have taxed and licensed.

Had another party been in government they would have ridden the wave too. They can't help themselves. The deficit may have been a little lower the debt would still be increasing, we would still be paying 45+bn in interest payments. We would still have engaged in wars.

People who only have one shot like you and I know you can't guarantee the good times and do provide for the bad times that will /may happen. That relies on commonsense.

chewmylegoff

IveSeenTheLight wrote: »

I was interested when you said it.
If you did I would have praised (at least thanked) you for your foresight.

Alas it was just another false claim

You should have searched for "tripple dip". Had you done so you would have found that Graham was talking about it ages ago.

Dammit, wotsthat got there before me. I will go through some of his old posts and try to find one where he mis-used an apostrophe.

wotsthat

chewmylegoff wrote: »

You should have searched for "tripple dip". Had you done so you would have found that Graham was talking about it ages ago.

Dammit, wotsthat got there before me. I will go through some of his old posts and try to find one where he mis-used an apostrophe.

For the record I'm mentioning quadruple and quintuple dips now. Should they happen I'll be calling this a prediction rather than a random musing after a few too many sherberts like Graham's famous tripple dip mention.

Just to help Graham should he be searching for this thread in the future quadrupple and quintupple.

grizzly1911

It is a sorry state of affairs that we are simply making ajoke out of the potential for further "recessions".

Graham_Devon

wotsthat wrote: »

For the record I'm mentioning quadruple and quintuple dips now. Should they happen I'll be calling this a prediction rather than a random musing after a few too many sherberts like Graham's famous tripple dip mention.

Just to help Graham should he be searching for this thread in the future quadrupple and quintupple.

Beat you to it

wotsthat

Graham_Devon wrote: »

Beat you to it

Bu**er - did you get the correct spelling too?

Graham_Devon

Probably not. Might have double spaced or something.

wotsthat

grizzly1911 wrote: »

It is a sorry state of affairs that we are simply making ajoke out of the potential for further "recessions".

GDP growth of +0.1% or -0.1% are effectively the same thing but of course they are the difference between victory and defeat on the MSE forum.