UK economy 'contracted in fourth quarter'

grizzly1911

GeorgeHowell wrote: »

No it isn't. There's huge scope to reduce public expenditure in areas of waste, ill-advised projects, unjustified welfare, overpaid public sector workers etc. Having the political bottle and the werewithal to deal with it is another matter.

Waiting for growth is like waiting for Godot.

Might as well watch Metropolis then, you never know it might soften the heart.;)

grizzly1911

BertieUK wrote: »

Common sense is defined as..."sound and prudent judgment based on a simple perception of the situation or facts."[

Is it possible to always use common sense in politics?

What is common sense to one individual isn't the same as another depends on perspective and background..

HAMISH_MCTAVISH

GeorgeHowell wrote: »

The credit rating is not about GDP +/-, it's about ability to service debts.

And our ability to service debt depends on GDP growth.

There is no doubt we'll lose our AAA rating if we do not return to growth soon.

HAMISH_MCTAVISH

GeorgeHowell wrote: »

There's huge scope to reduce public expenditure

Which only further depresses the economy and makes paying the debt harder.

Having the political bottle and the werewithal to deal with it is another matter.

Politics is "the art of the possible".

The limited cuts and poor economic recovery so far have seen Labour take a 14 point lead in the polls with a projected 90 seat clear majority at the next election.

The Tories must get us back in growth or they'll be out of office for another generation.

Waiting for growth is like waiting for Godot.

It's foolish to wait for growth.

Growth has to be created, and you cant cut your way out of a recession.

homelessskilledworker

HAMISH_MCTAVISH wrote: »

And our ability to service debt depends on GDP growth.

There is no doubt we'll lose our AAA rating if we do not return to growth soon.

I had to thank that, now I am off to get a shower.

Thrugelmir

homelessskilledworker wrote: »

Which is the ONLY thing that is going to service our debts

GDP doesn't service debt. Making a profit does.

Negative balance of trade means the the country is getting poorer every month.

Something politicians never mention.

homelessskilledworker

Thrugelmir wrote: »

GDP doesn't service debt. Making a profit does.

Negative balance of trade means the the country is getting poorer every month.

Something politicians never mention.

Yeah yeah yeah, you know what I mean, we need enough GDP to service our debts, whatever "enough" happens to be at any given time. Right now it is not even close considering we also have just had one huge stimulus thrown in for good measure as well.

BertieUK

I think, only my opinion, that if we could get back the monies that banks awarded their executives for contributing with others getting our country into this mess we would be on the road to recovery.

Because to an old Codger like me what the banks have done to award themselves bonuses, like the millions they have awarded themselves, is like paying someone to steal the publics money.

Some say that you have to pay top money to get the best, with todays enquiries into banks some of your good selves are going to have to go back to school and start again.

I just cannot believe that when I was younger I used to get my local Bank manager to give me references for job applications and that was considered a valuable reference. Who gives them a reference for a Bank managers job nowadays?

Rant over...

Thrugelmir

homelessskilledworker wrote: »

Yeah yeah yeah, you know what I mean, we need enough GDP to service our debts,

Productivity has been in decline since 1999. So we are getting lazier. Not helped by the fascination with property. Which many assumed to be the easy route to becoming wealthly. Whereas its hard work that pays off for the majority. There's no quick solutions.

homelessskilledworker

BertieUK wrote: »

I think, only my opinion, that if we could get back the monies that banks awarded their executives for contributing with others getting our country into this mess we would be on the road to recovery.

Because to an old Codger like me what the banks have done to award themselves bonuses, like the millions they have awarded themselves, is like paying someone to steal the publics money.

Some say that you have to pay top money to get the best, with todays enquiries into banks some of your good selves are going to have to go back to school and start again.

I just cannot believe that when I was younger I used to get my local Bank manager to give me references for job applications and that was considered a valuable reference. Who gives them a reference for a Bank managers job nowadays?

Rant over...

Those days are long gone my old son, sadly. I remember when I first set up in business I was allocated a manager who I remember to this day.
I drew up a business plan and went to the bank for an interview when trying to get a loan for premises. The next week he came and looked at the premises with me, I got the loan, and he often came down for a chat and a cuppa, and it was welcome on my part as he really knew his stuff.