The credit crunch is over now though in the UK so a strong economic recovery coupled with some gimmicky tax cuts in a pre election budget might just reduce Cameron's win from 150-200 down to about 100 but even though the credit crunch is over (housing market is going through the roof again, manufacturing output is up etc) people blame the government and rightly so for the banking crisis in the first place and over the expenses so Brown even if he abolished income tax would not win the next election but for sure he will leave it right till the end before going to the polls :manson:

Oh, its over :o

 

and there was me thinking it was still all doom and gloom in the UK.

 

Do they know when we are likely to see a growth in GDP, and therefore come out of recession?

Yeah, the actual financial crisis looks to be over... banks' liquidity seems to be restored and major global shares I believe are making some of the biggest gains in history. But the actual recession is still going, the effects of what happened last year are still trickling into the real economy... unemployment is still rising and many businesses are still in danger. So it's still going to be a while until the actual recession is over most likely.

If the banks are liquid again and the markets have confidence, then from my limited economics knowledge, we are on the road to recovery.

 

As soon as we bottom out, things can only get better.

 

Naturally i have f*** all confidence in our government. If Australia managed to avoid the global crisis why couldn't we? I know we have stronger ties to the US and EU, but they had regulation in place to stop the banks. What was so hard about installing similar legislation in the UK?

Oh, its over :o

 

and there was me thinking it was still all doom and gloom in the UK.

 

Do they know when we are likely to see a growth in GDP, and therefore come out of recession?

According to the National Institute of Economic and Social Research, the economy grew (albeit only slightly) in April and May. So, if we avoid negative growth in June, this quarter will see the economy grow thus spelling the end of recession sooner than Alistair Darling's budget prediction - a prediction which, of course, was greeted with almost universal derision.

However the unemployment figures always lag behind, so we are still going to be hit with massive job cutting for the next year or so, the people who lose their jobs will therefore not pay any taxes towards the Government, so this will increase the budget deficit, and at the same time claim unemployment benefit which increases the budget deficit, so it is a double whammy. Plus these people have less cash to spend which plunges the Country back into recession, because they are spending less in the shops putting others at risk of losing there jobs. You only have to see the jobs losses announced this week with LDV vans shutting, Lloyds closing Cheltenham Building Society branches with thousands losing their jobs, Axa Insurance etc etc.

 

Until companies start actually employing thousands of workers instead of shedding jobs we still have a long way to go before we are out of it.

 

The latest economic figures may be slightly better, but growth of 0.1% after a fall of 1.9% is not gonna put us back to where we were, do the math.

As far as i am aware, Three of the supermarkets have pledged to provide 16,000 new jobs over the next year. That was announced sometime at xmas. So its a case of the profitable few taking the risk opening a few more branches and providing work for the many.

 

Sure it'll take years to sort out, but i can't help but think if we had a differenet, better government that the recovery would be quicker and easier. Someone who could give us a workable solution. Perhaps providing incentives to struggling businesses to hire staff. A subsidised wage for them perhaps, maybe they give the company a loan package in return for saving the jobs. IMO working very closely with the affected businesses, many of whom have been innocently caught up in this, and with the Job centre to provide training for the out of work, give them voluntary work to do until they can find work [eg help out at an elderly home in return for a bit of extra dole] and then work with the businesses to provide jobs for these people. It has to be better than appearing to run round like headless chickens neck deep in $h!te they had assured us would not happen under their party's leadership.

 

I do realise my solution is more from a management perspective than an economic one, i have more of a business background than economics. So do feel free to pick holes in it! ^_^

I don't believe in intervention, the reason why the recovery will take longer is because for the next generation the country is going to be saddled with debt due to Brown's obscene levels of borrowing to try and buy the nation out of recession, what the country should have done is just battened down the hatches, wethered the storm and come out of it maybe a bit slower but certainly a lot stronger as not saddled with chronic debt which is going to take massive tax rises over the coming years to pay off, the government should have just toughed things out although obviously the banks needed bailing out as banking system collapse would have killed this country stone dead

 

However the unemployment figures always lag behind, so we are still going to be hit with massive job cutting for the next year or so, the people who lose their jobs will therefore not pay any taxes towards the Government, so this will increase the budget deficit, and at the same time claim unemployment benefit which increases the budget deficit, so it is a double whammy. Plus these people have less cash to spend which plunges the Country back into recession, because they are spending less in the shops putting others at risk of losing there jobs. You only have to see the jobs losses announced this week with LDV vans shutting, Lloyds closing Cheltenham Building Society branches with thousands losing their jobs, Axa Insurance etc etc.

 

Until companies start actually employing thousands of workers instead of shedding jobs we still have a long way to go before we are out of it.

 

The latest economic figures may be slightly better, but growth of 0.1% after a fall of 1.9% is not gonna put us back to where we were, do the math.

 

I agree, people who say that we are "on the road to recovery" are frankly talking rubbish imo... The facts are that practically NO ONE is hiring at the moment, and jobs are still being shed like no man's business, there will be more people claimng benefits which will have a detrimental effect on the ecomomy... Broon can cling onto power for as long as he likes like a pathetic, desperate chancer, the country will NOT forget that it was his policies which got us into this mess to begin with.... And I still dont see any kind of proper regulation of the banks or any reining-in of the fat cats, so, really, what's to stop this sh!t from happening again at some point...?

 

I don't believe in intervention, the reason why the recovery will take longer is because for the next generation the country is going to be saddled with debt due to Brown's obscene levels of borrowing to try and buy the nation out of recession, what the country should have done is just battened down the hatches, wethered the storm and come out of it maybe a bit slower but certainly a lot stronger as not saddled with chronic debt which is going to take massive tax rises over the coming years to pay off, the government should have just toughed things out although obviously the banks needed bailing out as banking system collapse would have killed this country stone dead

Oh LMAO. What economic illiteracy. This argument was solved in the 30s, I can't believe Hoovernomics STILL exists today tbh :/

I don't believe in intervention, the reason why the recovery will take longer is because for the next generation the country is going to be saddled with debt due to Brown's obscene levels of borrowing to try and buy the nation out of recession, what the country should have done is just battened down the hatches, wethered the storm and come out of it maybe a bit slower but certainly a lot stronger as not saddled with chronic debt which is going to take massive tax rises over the coming years to pay off, the government should have just toughed things out although obviously the banks needed bailing out as banking system collapse would have killed this country stone dead

 

Yeah, cos that really worked during the Great Depression didn't it....? If Roosevelt hadn't initiated "New Deal", Americans would have suffered for considerably longer than they did........

 

Brown's way of just throwing money at everything will jsut be a short term fix, whoever wins the next election is either going to have to butcher public spending or massively put up tax or both to help pay back the debt that Brown has created, short term gain and long term pain after what Brown has done, yes we have come out of recession quicker than many countries but we will be right back in it once the payback begins

 

 

Brown's way of just throwing money at everything will jsut be a short term fix, whoever wins the next election is either going to have to butcher public spending or massively put up tax or both to help pay back the debt that Brown has created, short term gain and long term pain after what Brown has done, yes we have come out of recession quicker than many countries but we will be right back in it once the payback begins

Yes, but the difference is that we will actually have the prosperity to pay off the money once we recover - that's the entire basis of Keynesian theory. If you don't restimulate aggregate demand you have no hope of getting out of the recession...ever heard of the paradox of thrift? How else do you espouse we get out of recessions? They're not just like bad weather you know! :lol:

Yes, but the difference is that we will actually have the prosperity to pay off the money once we recover - that's the entire basis of Keynesian theory. If you don't restimulate aggregate demand you have no hope of getting out of the recession...ever heard of the paradox of thrift? How else do you espouse we get out of recessions? They're not just like bad weather you know! :lol:

 

Exactly, it was the policy of Neo-Con capitalism that got us into the mess to begin with, it's only by following the methods of Keynes and Roosevelt's New Deal (and, dare I say it, maybe even a bit of Marxism...) policies that's going to get us out of the sh!t..... What's definitely needed, IMHO, is hell of a lot less unfettered Capitalism and a lot more responsible Socialism....

 

One thing that's been proven by Thatcher, Major, Blair, Brown, et al, is that there is absolutely no such thing as "Caring Capitalism", or even responsible Capitalism..... Broon's supposed "prudence" is a sham.....

 

Yes, but the difference is that we will actually have the prosperity to pay off the money once we recover - that's the entire basis of Keynesian theory. If you don't restimulate aggregate demand you have no hope of getting out of the recession...ever heard of the paradox of thrift? How else do you espouse we get out of recessions? They're not just like bad weather you know! :lol:

Exactly.

 

To get our economy on it's feet again we need to help the economic equilibrium to be reached. Without equilibrium we have an unstable market. The government need to get to basics. Economy has it's roots in simple Supply and Demand.

 

The government needs some economics lectures. Maybe there should be a law that states that only economics and accounting/finance graduates be allowed to work in the treasury. I'd be surprised if even a quarter of the bankers responsible for this f*** up had that background. I reckon they'd have more of a management background and therefore lack the knowledge to properly understand the numbers and risks leading to $h!t like the sub-prime. Banking needs to be heavily regulated, and those in charge should be suitably educated.

 

If we just sit back and ride out the storm, it'll will take years for the economy to reach rock bottom. Possibly decades. Recession is a downward spiral that needs immediate action to stop and be reversed. Otherwise the effect will be felt for decades.

Christ, I only do A-Level economics yet I can even understand that Cameron has absolutely no idea how to stop the recession...in a way I'm in two thoughts on the fact that by the time he (almost certainly) comes to power next year we'll be out of the worst of it: at the least, it spares us another few years of dreadful economic disaster, but it's a shame as it would show him up for the absolute fool he is...just watch when the economic boom we get after this is attributed to him and that twat Osborne :manson:

...... and when he does fail to prevent it getting worse, he will blame brown for the mess he left <_< hiding his own shortcomings.

...... and when he does fail to prevent it getting worse, he will blame brown for the mess he left <_< hiding his own shortcomings.

 

No different to what B-Liar did though

 

He inherited a strong economy from Major and pretty much tried to claim all the credit for himself

Exactly.

 

To get our economy on it's feet again we need to help the economic equilibrium to be reached. Without equilibrium we have an unstable market. The government need to get to basics. Economy has it's roots in simple Supply and Demand.

 

The government needs some economics lectures. Maybe there should be a law that states that only economics and accounting/finance graduates be allowed to work in the treasury. I'd be surprised if even a quarter of the bankers responsible for this f*** up had that background. I reckon they'd have more of a management background and therefore lack the knowledge to properly understand the numbers and risks leading to $h!t like the sub-prime. Banking needs to be heavily regulated, and those in charge should be suitably educated.

 

If we just sit back and ride out the storm, it'll will take years for the economy to reach rock bottom. Possibly decades. Recession is a downward spiral that needs immediate action to stop and be reversed. Otherwise the effect will be felt for decades.

 

Believe it or not, Fred the Shred is a qualified Chartered Accountant..... :lol: :lol: So, that just proves to me that they really were just a bunch of crooked b/astards as opposed to being incompetent..... <_<

Oh jesus :/ charted accountancy is one of my main post uni options :|

NO why do u all moan about it GORDON A or O is a c**t we cant change anything so get over it live with it and suffer simple, moaning gets you no where ect.