ChatterBank0 min ago
Is it just me, or are we back in Recession??
What happened to the green shoots of last summer??
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Its you.
Banking is pulling back out, IT projects are starting up and building is starting all of which suffer intitally but are usually first to start up.
We are goign to be in pain for a while to get New Labour debt and spending back under control but, to be honest, it is probably not as bad as many woudl have us to believe.
Unfortunatly of course if you are one of the poor folk to get teh tin-tack life will not seem that rosy. For the majority though it will be business as usual.
Banking is pulling back out, IT projects are starting up and building is starting all of which suffer intitally but are usually first to start up.
We are goign to be in pain for a while to get New Labour debt and spending back under control but, to be honest, it is probably not as bad as many woudl have us to believe.
Unfortunatly of course if you are one of the poor folk to get teh tin-tack life will not seem that rosy. For the majority though it will be business as usual.
Yes YMB the new government is rescuing us from the last Labour administration.
Yanking 6 billion out of the economy is just what we need to make sure that the economy continues to grow when it's in a fragile state!
No we're not back into a recession yet but with all the redundencies about to bite in the public sector, and the resulting loss of business in the private sector - first those supplying the public sector, followed by those selling to public sector employees we'll be very lucky indeed if we don't see a return to recession.
Still YMB you have your banker's bonus to pad you out now so you should be fine eh?
Yanking 6 billion out of the economy is just what we need to make sure that the economy continues to grow when it's in a fragile state!
No we're not back into a recession yet but with all the redundencies about to bite in the public sector, and the resulting loss of business in the private sector - first those supplying the public sector, followed by those selling to public sector employees we'll be very lucky indeed if we don't see a return to recession.
Still YMB you have your banker's bonus to pad you out now so you should be fine eh?
Jake, I get no bonus, so appologies please.
Secondly you cannot keep the unemplyment figures down by employing in the public sector. The public secrtor does not contribute to GDP.
Annoying though it is the Banks are contributing to our economy, simply because sucessive Governments (yes bith parties) have allowed the service industry to dminate.
New Labour inherited the best economy any incoming Government ever had - and left the worst. Do you deny this ?
Nevertheless the signs are we are coming out even though if you are in the public sector it may seem not.
And no, I am not impervious to this. Mrs youngmafbog works for the NHS.
Secondly you cannot keep the unemplyment figures down by employing in the public sector. The public secrtor does not contribute to GDP.
Annoying though it is the Banks are contributing to our economy, simply because sucessive Governments (yes bith parties) have allowed the service industry to dminate.
New Labour inherited the best economy any incoming Government ever had - and left the worst. Do you deny this ?
Nevertheless the signs are we are coming out even though if you are in the public sector it may seem not.
And no, I am not impervious to this. Mrs youngmafbog works for the NHS.
My appologies.
No I would not
I would deny that they are the cause of this.
Moreover I would contend that their prompt action in dealing with the reckless behaviour of the banks saved this country from a depression unseen since the 30's.
The claim that they should have regulated the banks better is laughable when at the time Cameron was walking around bemoaning the fact that the government was tying the city's hands with red tape.
Had we had a Tory administration I can't imagine introducing tighter banking regulations would have been high on it's agenda - their history of Laissez-faire business regulation suggests that they would have allowed a deeper crisis and worse still might have precipitated a chain reaction of failing banks by not bailing them out.
We were very lucky to have had that Government at the time that was ready to step in and take the risk of commiting so much public money to rescuing the banks.
And don't pretend we're all about to make a profit from it - the banks are only back in the black because they've been relieved of their toxic assets!
No I would not
I would deny that they are the cause of this.
Moreover I would contend that their prompt action in dealing with the reckless behaviour of the banks saved this country from a depression unseen since the 30's.
The claim that they should have regulated the banks better is laughable when at the time Cameron was walking around bemoaning the fact that the government was tying the city's hands with red tape.
Had we had a Tory administration I can't imagine introducing tighter banking regulations would have been high on it's agenda - their history of Laissez-faire business regulation suggests that they would have allowed a deeper crisis and worse still might have precipitated a chain reaction of failing banks by not bailing them out.
We were very lucky to have had that Government at the time that was ready to step in and take the risk of commiting so much public money to rescuing the banks.
And don't pretend we're all about to make a profit from it - the banks are only back in the black because they've been relieved of their toxic assets!
Then let me put it simply
Bank goes bust -> liquidators foreclose on Mortgages ->can't get another mortgage because investors pull their money out of other banks.
Comapny owes money to bank that fails -> liquidators foreclose on loans -> company can't pay staff -> company goes bust.
Still got a mortgage? not lost your house? not lost your job?
There's a good chance that's because Gordon Brown bailed out the banks
Bank goes bust -> liquidators foreclose on Mortgages ->can't get another mortgage because investors pull their money out of other banks.
Comapny owes money to bank that fails -> liquidators foreclose on loans -> company can't pay staff -> company goes bust.
Still got a mortgage? not lost your house? not lost your job?
There's a good chance that's because Gordon Brown bailed out the banks
Yep,
We warned that if the Tories got in they would yake us back into recession, and the double dip is well on its way.
// The UK's economy suffered a shock contraction of 0.5% in the last three months of 2010, figures have shown. /
http://www.bbc.co.uk/news/business-12272717
We warned that if the Tories got in they would yake us back into recession, and the double dip is well on its way.
// The UK's economy suffered a shock contraction of 0.5% in the last three months of 2010, figures have shown. /
http://www.bbc.co.uk/news/business-12272717
I don't think soaps gets this bail out fund business.
For example the Irish Credit rating has gone down the pan so we will borrow money and lend it to them at a rate higher than we borrow it at but less than they can.
It's a nice little earner! That's why Osbourne was so quick to offer it and why the Irish were trying to avoid it so much.
As for Rov's question on "if you were in debt would you go out on a spending spree?"
No - but here's a news flash - despite what Margaret Thatcher may have told you a country's economics do not work like an individual's economics.
I don't pay social security when people lose their jobs, I don't get taxation when people earn or spend their money. I have a limited lifespan so can't to borrow money against an indefinate future.
If I compared the workings of my diesel car to a formula one race car I'm sure Rov would (quite rightly) laugh at me but he's happy to compare his personal finances to that of a sovreign state.
For example the Irish Credit rating has gone down the pan so we will borrow money and lend it to them at a rate higher than we borrow it at but less than they can.
It's a nice little earner! That's why Osbourne was so quick to offer it and why the Irish were trying to avoid it so much.
As for Rov's question on "if you were in debt would you go out on a spending spree?"
No - but here's a news flash - despite what Margaret Thatcher may have told you a country's economics do not work like an individual's economics.
I don't pay social security when people lose their jobs, I don't get taxation when people earn or spend their money. I have a limited lifespan so can't to borrow money against an indefinate future.
If I compared the workings of my diesel car to a formula one race car I'm sure Rov would (quite rightly) laugh at me but he's happy to compare his personal finances to that of a sovreign state.
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