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UK economy set to grow faster than any other western economy
Comments
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HAMISH_MCTAVISH wrote: »So debt is reducing in real terms.
Not that it'll stop Dev moaning about it....
Maybe not for those actually taking on the debt.
You'd have to look at wage inflation vs debt instead of looking at the general inflation rate.
As has been said many times, you can do whatever you like with statistics. Indeed, we've only looked at "unsecure lending to individuals" here.
My point was that without this increasing debt, could the growth happen? Only conrad has so far touched on the point.0 -
Graham_Devon wrote: »You'd have to look at wage inflation vs debt instead of looking at the general inflation rate. .
Wage inflation is also higher than the debt increase.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Graham_Devon wrote: »My point was that without this increasing debt, could the growth happen? Only conrad has so far touched on the point.
Do the sums and make your point properly then.
What's the size of the increase in the economy? How much has debt increased during the same period?
One minus the other - voila!0 -
To be fair, Graham's OP is having the desired effect; he's the centre of attention. Cue 10 pages of him pretending he doesn't understand even the most basic financial concepts and having everyone tie themselves in knots trying to explain them to him.
He's a genius and we fall for it every time. :rotfl:
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HAMISH_MCTAVISH wrote: »Wage inflation is also higher than the debt increase.
Next you will telling us the projected cost of servicing the debt is falling to."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Graham_Devon wrote: »....You'd have to look at wage inflation vs debt instead of looking at the general inflation rate....HAMISH_MCTAVISH wrote: »Wage inflation is also higher than the debt increase.
Correct.
The most recent ONS release states that "Average weekly earnings excluding bonus payments rose by 0.8% comparing June to August 2013". I think that 0.8% is a bigger number than either 0.76% or 0.39%.
http://www.ons.gov.uk/ons/rel/lms/labour-market-statistics/october-2013/sty-average-weekly-earnings.htmlGraham_Devon wrote: »....As has been said many times, you can do whatever you like with statistics. ....
Even ignore them, apparently.Graham_Devon wrote: »....Indeed, we've only looked at "unsecure lending to individuals" here.
M4 lending shows a 0.3% annual increase. That about covers everything.Graham_Devon wrote: »...My point was that without this increasing debt, could the growth happen? Only conrad has so far touched on the point.
Strewth..... Cue 10 pages of him pretending he doesn't understand even the most basic financial concepts and having everyone tie themselves in knots trying to explain them to him.....
Yea that.:)0 -
grizzly1911 wrote: »Next you will telling us the projected cost of servicing the debt is falling to.
Why, do you think that the projected cost of servicing the debt will increase?
I know that Eurostat have data on the Gross debt-to-income ratio of households. It shows the UK figure increasing from 113.75 in 2002 to 151.40 in 2008 - that naughty Labour government and it's debt fuelled growth:). Since then the figure has steadily declined to 132.87 in 2012; I'd guess that since wages are currently increasing by more than total debt, the number is still falling, so (all other things being equal) the cost of servicing the debt must be falling too.0 -
Correct.
The most recent ONS release states that "Average weekly earnings excluding bonus payments rose by 0.8% comparing June to August 2013". I think that 0.8% is a bigger number than either 0.76% or 0.39%.
http://www.ons.gov.uk/ons/rel/lms/labour-market-statistics/october-2013/sty-average-weekly-earnings.html
Even ignore them, apparently.
M4 lending shows a 0.3% annual increase. That about covers everything.
Strewth.
Yea that.:)
Well, seems it's pretty pointless trying to discuss anything with you at all with the lengths you will go to pick and choose the statistics and then even spin your favourite statistic.
Debt is increasing, by your chosen statistic at 0.76%. Wages increasing by 0.80%, and therefore, it's all just fine! 0.04% difference means were just great.
Righty-o.0
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