RECESSIONS OVER

[The Duncan 802]

See if the world hasn't went nuclear, we could have had another world war. Everything's prosperous after a good ruck lol

True. Growth after a massive drop in our numbers is stratospheric and the economies rely entirely on growth for prosperity.

 

[PeakOil 352]

The 'growth' was largely down to the Olympic & paralympic games and associated construction and tourism. IE a one off! Are we going to build and host Olympic & paralympic games every quarter? At work we have been barely ticking over for the last 4 years on reduced money and hours, same for lots of people in construction and other sectors. Anyhow the snidey fuckers will probably revise the 'growth' quietly downwards in a month or so when they have the real numbers and someone with a better grasp of adding up than Gordon Brown has double checked everything.

 

Out of recession, MY ARSE! Our bank won't lend to anyone in construction so our 'relationship manager' said only last week, anyhow if you need 3 consecutive quarters of contraction to officially be in recession, how come only one quarter of 'growth' magically gets you out? Should it not be 3 consecutive quarters of growth? As inflation (the real amount you see in your food bills, electric and gas bills, rent bill and at the fuel pumps. Not the pie in the sky figure official figure) is going up faster than wages for many it sure doesn't look like a recovery to me.

 

Any real recovery is still imho years away. Many businesses are still massively in debt, many individuals are still massively in debt.The government is still massively in debt and getting in to more debt every hour that passes. Every day this year, despite 'the cuts' the government spends in the region of four hundred million pounds a DAY more than it has coming in. Roughly an extra four hundred million pounds a day, every day added on to the existing debt of over one trillion pounds. All with interest payments that are currently bigger than the whole defence budget and soon to be bigger than the entire education budget.

 

http://www.debtbombshell.com/

 

All the projections for dealing with the debt problem are based on hopelessly optimistic 'growth' forecasts that assume in a couple of years individuals and businesses will be taking on additional debt at rates similar to those seen between 2001 and 2007. Does that sound likely to you? Bearing in mind the banking system is still on life support and busy trying to fix the damage it caused to its self over the past decade, while continuing to try and screw everyone else over.

Edited October 26, 2012 by PeakOil

[Malt 379]

 

 

 

Any real recovery is still imho years away. Many businesses are still massively in debt, many individuals are still massively in debt.The government is still massively in debt and getting in to more debt every hour that passes. Every day this year, despite 'the cuts' the government spends in the region of four hundred million pounds a DAY more than it has coming in. Roughly an extra four hundred million pounds a day, every day added on to the existing debt of over one trillion pounds. All with interest payments that are currently bigger than the whole defence budget and soon to be bigger than the entire education budget.

 

For all the cuts and austerity measures, government borrowing has increased since the new government has been in place and the deficit has got ever wider.. If the point of all these cuts is to narrow it, it's failing..

 

Saw this on FB earlier, not sure now true it is..

 

 

If it is true it just goes to show that those in charge haven't got a damn clue about what's actually going on and just spouting off what they think sounds about right..

[Guest cookiemonsterandmerlin]

Any real recovery is still imho years away. Many businesses are still massively in debt, many individuals are still massively in debt.The government is still massively in debt and getting in to more debt every hour that passes. Every day this year, despite 'the cuts' the government spends in the region of four hundred million pounds a DAY more than it has coming in. Roughly an extra four hundred million pounds a day, every day added on to the existing debt of over one trillion pounds. All with interest payments that are currently bigger than the whole defence budget and soon to be bigger than the entire education budget.

 

For all the cuts and austerity measures, government borrowing has increased since the new government has been in place and the deficit has got ever wider.. If the point of all these cuts is to narrow it, it's failing..

 

Saw this on FB earlier, not sure now true it is..

 

 

If it is true it just goes to show that those in charge haven't got a damn clue about what's actually going on and just spouting off what they think sounds about right..

 

And there on about giving powers to welsh to borrow money of the goverment to fund welsh projects in the £ millions

 

ATB Cookie