UK economy set to grow faster than any other western economy

Thrugelmir

antrobus wrote: »

That would also be my conclusion.

UK is running a current account deficit. So is borrowing from overseas /selling assets to pay its way.

zagfles

Graham_Devon wrote: »

I'm looking for a discussion that goes a little further than tit for tatt mud slinging

Isn't that the point of this board :rotfl:

Have a search of this board for words like austerity, recession and depression from over a year ago, that'll give you plenty of ammunition

I'm getting the popcorn.

grizzly1911

antrobus wrote: »

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.

National Debt.

http://www.google.co.uk/imgres?sa=X&biw=1024&bih=653&tbs=simg:CAQSXRpbCxCo1NgEGgIICgwLELCMpwgaNAoyCAESDPYH-wf4B_1kH_1Af6Bxog2ghfdqqmmXeXqKb5baikrvxwpHUqlIiphkiEY7JjOJAMCxCOrv4IGgoKCAgBEgTwlJLyDA,isz:m&tbm=isch&tbnid=YWqvH8UVgjqIWM:&imgrefurl=http://aviagemdosargonautas.net/2013/08/16/saida-do-euro-a-minha-resposta-por-julio-marques-mota-2/&docid=RhKcbk7RzYJYLM&imgurl=http://aviagemdosargonautasdotcom.files.wordpress.com/2013/08/jc3balio-viii.png&w=1025&h=755&ei=Ehd4UpHbNoKJ0AX9oYCwDg&zoom=1&ved=1t:3588,r:1,s:0,i:61&iact=rc&page=1&tbnh=180&tbnw=244&tx=88&ty=82

grizzly1911

Thrugelmir wrote: »

UK is running a current account deficit. So is borrowing from overseas /selling assets to pay its way.

That is the underlying problem that doesn't seem to get much air time. Conveniently ignored.

Answer build more house and take on personal debt.

antrobus

Thrugelmir wrote: »

UK is running a current account deficit. So is borrowing from overseas /selling assets to pay its way.

So it is. But I'm not sure how that changes the fact that the level of household debt is declining in real terms.

grizzly1911 wrote: »

National Debt....

And...????

Clearly the 'National Debt' is still increasing; the government is still running at a deficit. But at least the deficits are getting a bit smaller, so if it was government borrowing that was driving growth, we should be seeing less growth. After all, weren't we all being told at the beginning of the year that it was Gideon's enthusiasm for reducing the deficit that was preventing growth? And yet we have growth.

MFW_ASAP

Graham_Devon wrote: »

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.

Are you looking into a mirror when you say this? Do you really believe you are any different or any better? If you do, then you have an astonishing lack of self awareness.

wotsthat

Graham_Devon wrote: »

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.

More muddle. Your implied point that the growth is debt fuelled has been comprehensively destroyed so imply instead that someone has suggested everything is wonderful and street parties should be organised.

chucky

Graham_Devon wrote: »

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.

Facts are facts, they are reality.

Your opinion, is just your opinion formed by yourself due to your environment which doesn't seem to be reality.

zagfles

antrobus wrote: »

Clearly the 'National Debt' is still increasing; the government is still running at a deficit. But at least the deficits are getting a bit smaller, so if it was government borrowing that was driving growth, we should be seeing less growth. After all, weren't we all being told at the beginning of the year that it was Gideon's enthusiasm for reducing the deficit that was preventing growth? And yet we have growth.

:rotfl:Yes, a year or two ago we were being told that this govt policies would lead to a depression, or a "triple dip", and so called "austerity" wasn't working, you can't "cut your way out of a recession", etc etc.

mayonnaise

Thrugelmir wrote: »

UK is running a current account deficit. So is borrowing from overseas /selling assets to pay its way.

grizzly1911 wrote: »

That is the underlying problem that doesn't seem to get much air time. Conveniently ignored.

Uk has been running a current account deficit since most of us were born. No issue unless the deficit would spiral out of control together with a shrinking GDP. Which is not the case.