Economic news brings fresh disaster to section of population!

Devon_Sailor

Yes folks, a gut wrenching tale of doom and despair. A well respected international body, with zero axe to grind with/in the UK has potentially broken the hearts of those die hard NuLabour apostles contributing to this board:

http://www.telegraph.co.uk/finance/economics/9801175/UK-recovery-on-track-OECD-data-show.html

It is with heavy heart that it now appears likely that the UK is actually growing after all, much to the despair of those who love to spread doom, gloom, pessimism and general anti-Government rhetoric, straight from the pages of the Labour spin sheet for the week.

Hey ho - im sure they all have their fingers crossed for a Quadrouple Dip recession, to make them really jolly happy chappies :T

For the rest of the world, it may just mean a very very tiny break from all these threads straight from the Mirror and Guardian dressed up as debate topics!

Regards,

D_S

Thrugelmir

With a likely balance of trade deficit of $54 billion in 2012 (around 3% of GDP). Expect the £ to sink further. Thereby increasing price pressure on imported goods further.

There's some rough seas ahead.

Devon_Sailor

Absolutely, no doubt about it. However, continually talking the economy down simply to achieve one's own political objectives is both childish and socially negligent.

I was posted to the US for a while earlier in the year - it was staggering just how different they cover things. The enws bulletins were full of good news stories, however minor, from the local hardware store expanding and taking on new staff, to a state-wide business that had seen unprecedented growth, despite having to cut its cloth a couple of years previously.

The whole atmosphere over there, on the street, is so much more positive, and "yes, we are winning"; here, it is newspaper editors and TV presenters falling over themselves to be the first to accurately call a triple dip recession, or highlight job losses. For example, locally, there was an ailing company that, in honesty, had been on its last legs before the recession. It finally went belly up, with the loss of 15 jobs. It headlined the news and took up the main 5 minute feature slot. Yet three new businesses opened on the same trading estate that month, with a combined total of 37 NEW jobs created. NOT A PEEP?!?!? :mad:

So, which attitude is more likely to bring confidence back to the consumer market and stimulate spending/growth, which we all need? Hmmmmmm.... i know which I would prefer!

D_S

Thrugelmir

Devon_Sailor wrote: »

So, which attitude is more likely to bring confidence back to the consumer market and stimulate spending/growth, which we all need? Hmmmmmm.... i know which I would prefer!

D_S

UK consumers are over burdened with debt. So unlikely to make a real contribution to the economy for some years.

Devon_Sailor

Again true, but a more general sense of optimism would go a long way to help bump the economy in general.

It is like the whole "cuts" issue. If you believed the hype spread by Unions and other interested parties, you would think a red hot knife has been slashed through budgets. That simply isnt the case - overall Government spending is STILL RISING - they are not increasing spending by as much as the earlier forecasts.

D_S

DiggerUK

Devon_Sailor wrote: »

.... However, continually talking the economy down simply to achieve one's own political objectives is both childish and socially negligent......

To what decade do you belong......? there is no difference in the political nature of any government since the 1980's. Your reactionary bias isn't even tory any more, it's just barmy.

I am one of the last of the loony left and I would put the labour luvvies against the wall first; and it still would not need me to talk down an economy that is nothing more than a Groundhog Day Recession.

Time to catch up with the actualite.
..._

BertieUK

Britain's recovery is on track and steaming ahead...they must be referring to...

...a restored original steam locomotive hauled a Victorian first-class carriage – all wood and gas light fittings – from Earl's Court to Moorgate, billowing clouds through the capital's oldest tunnels.

I could not resist...

If it sounds too good to be true, it probably is...

Thrugelmir

Devon_Sailor wrote: »

Again true, but a more general sense of optimism would go a long way to help bump the economy in general.

Don't disagree with your sentiment. The problem is that there are major issues that are far from resolved. So anyone in a senior position would be foolish to get ahead of reality. As very quickly would be annihalated should the UK sail into icebergs.

Generali

Thrugelmir wrote: »

With a likely balance of trade deficit of $54 billion in 2012 (around 3% of GDP). Expect the £ to sink further. Thereby increasing price pressure on imported goods further.

There's some rough seas ahead.

Hasn't that been the case since the 1970s? It's hard to see why that would suddenly be a disaster today.

I think the doom is overdone myself. Things are far from perfect but they're simply not as bad as people like to say.

PaulF81

More important Gen, things arent as bad as they were in the nuclear wasteland of the post credit crunch mad max world we lived in.

Thrugelmir

Generali wrote: »

Hasn't that been the case since the 1970s? It's hard to see why that would suddenly be a disaster today.

The trend.

In the 1970s the average annual trade deficit was £ 2.3 billion or 2.1% of GDP
In the 1980s the average annual trade deficit was £ 7.2 billion or 1.5% of GDP
In the 1990s the average annual trade deficit was £15.4 billion or 2.1% of GDP
In the 2000s the average annual trade deficit was £64.1 billion or 5.1% of GDP
In 2010, the deficit was £97.2 billion equivalent to 6.7% of GDP.