wednesday1 Posted January 28, 2012 Author Share Posted January 28, 2012 What spending cuts? We spend 500 million more than we "earn" PER DAY. Odd that the likes of the BBC can't report on the fact that previous "growth" was built on cheap credit/MEWing and we may need negative GDP until we pay down some of the huge household debts we have? The answer is not more spending or even "austerity". It's a default. We can never repay what we've borrowed (thank you Gordon Brown). Only we'd better do it quick, there are a lot of other countries who will need to do the same thing before long. Howdo Baaaaaarnsley Bill. Well, I don't remember you Tony or anyone else on here say 'let the banks go to the wall' at the time of the bailouts. Very clever being wise after the event! Link to comment Share on other sites More sharing options...
wednesday1 Posted January 28, 2012 Author Share Posted January 28, 2012 In other words nothing changed under Labour. They were just a Thatcherite government. Labour was responsible for SIX quarters of a shrinking economy just a couple of years ago so the coalition still has some way to go before they match that. :rolleyes:Ever heard of the WORLDWIDE credit crunch?! Link to comment Share on other sites More sharing options...
wednesday1 Posted January 28, 2012 Author Share Posted January 28, 2012 We are deep in the do do, that is a fact no one can deny. On telly the other day, Balls still persists that borrowing more money would be our salvation. DOH!. Angel. Weren't you whingeing about having your invalidity benfits cut a while back? So your only opposed to Govt. cuts when they effect you. Link to comment Share on other sites More sharing options...
wednesday1 Posted January 28, 2012 Author Share Posted January 28, 2012 It's obvious why the economy contracted. It was the exceptionally mild winter so we spent less on gas and electricity. The Olympics will probably provide him with enough excuses up and 'til the next election! Link to comment Share on other sites More sharing options...
purdy Posted January 29, 2012 Share Posted January 29, 2012 :rolleyes:Ever heard of the WORLDWIDE credit crunch?! Yes we have, and clearly as we haven't suffered those massive contractions in the economy since the election the current lot are coping with it far better than the last lot despite having to live with the massive debts they inherited. You should get a job working on Camerons PR team for pointing that out. Link to comment Share on other sites More sharing options...
banjodeano Posted January 29, 2012 Share Posted January 29, 2012 A 4.1% drop in spending on fuel bills, due to the warm weather, is one of the biggest reasons that the GDP figures fell in the last quarter. That money will feed into the economy in some other way in this quarter. The figures may well be revised up and we'll be bumping along the bottom for a while bit up, bit down, that's the nature of this crisis but I don't think it'll be a big dip. Or it could be that people cant afford to put the heating on as much Link to comment Share on other sites More sharing options...
wednesday1 Posted January 29, 2012 Author Share Posted January 29, 2012 Yes we have, and clearly as we haven't suffered those massive contractions in the economy since the election the current lot are coping with it far better than the last lot despite having to live with the massive debts they inherited. You should get a job working on Camerons PR team for pointing that out. The reason the UK economy is so knackered is because we have become over reliant on the financial services sector / property specualtion etc. Britain turned it's back on manufacturing under THATCHER, areas like Sheffield and the other former maunufacturing centres eg Birmingham, Glasgow + so many more have never recovered. Remember her derision of manufacturing as the 'smokestack' industries, it this attitude to manufacturing that did so much damage to this country. The current weak value of the pound should favour a export-driven boom to get us out of this hole, but there is so little of it left to have a significant effect on the economy. As for Smarmy Dave's 'time to rebalance' the economy, actions speak much louder than words, look at how they refused Sheffield Forgemasters their loan just days after his rebalancing weasel words. They haven't a clue. Link to comment Share on other sites More sharing options...
purdy Posted January 29, 2012 Share Posted January 29, 2012 The reason the UK economy is so knackered is because we have become over reliant on the financial services sector / property specualtion etc. Britain turned it's back on manufacturing under THATCHER, areas like Sheffield and the other former maunufacturing centres eg Birmingham, Glasgow + so many more have never recovered. Remember her derision of manufacturing as the 'smokestack' industries, it this attitude to manufacturing that did so much damage to this country. The current weak value of the pound should favour a export-driven boom to get us out of this hole, but there is so little of it left to have a significant effect on the economy. As for Smarmy Dave's 'time to rebalance' the economy, actions speak much louder than words, look at how they refused Sheffield Forgemasters their loan just days after his rebalancing weasel words. They haven't a clue. To be honest I thought we were experiencing an export boom at the moment mainly led by our motor industry most of which was set up in this country when Thatcher was in charge. Regarding the financial sector. Didn't Labour have 13 years in office to sort that out, but instead deregulated things and set up a quango called the FSA to oversea it as it went out of control. But when people have to resort to refering to politicians by silly little insults, you know that their posts are not likely to be considered but are merely politically motivated. Link to comment Share on other sites More sharing options...
Tony Posted January 29, 2012 Share Posted January 29, 2012 The reason the UK economy is so knackered is because we have become over reliant on the financial services sector / property specualtion etc. Britain turned it's back on manufacturing under THATCHER, areas like Sheffield and the other former maunufacturing centres eg Birmingham, Glasgow + so many more have never recovered. Remember her derision of manufacturing as the 'smokestack' industries, it this attitude to manufacturing that did so much damage to this country. The current weak value of the pound should favour a export-driven boom to get us out of this hole, but there is so little of it left to have a significant effect on the economy. As for Smarmy Dave's 'time to rebalance' the economy, actions speak much louder than words, look at how they refused Sheffield Forgemasters their loan just days after his rebalancing weasel words. They haven't a clue. Don't be so silly. Nobody in the UK is stopping anyone from manufacturing anything that they like. Link to comment Share on other sites More sharing options...
MrSmith Posted January 29, 2012 Share Posted January 29, 2012 The reason the UK economy is so knackered is because we have become over reliant on the financial services sector / property specualtion etc. Britain turned it's back on manufacturing under THATCHER, areas like Sheffield and the other former maunufacturing centres eg Birmingham, Glasgow + so many more have never recovered. Remember her derision of manufacturing as the 'smokestack' industries, it this attitude to manufacturing that did so much damage to this country. The current weak value of the pound should favour a export-driven boom to get us out of this hole, but there is so little of it left to have a significant effect on the economy. As for Smarmy Dave's 'time to rebalance' the economy, actions speak much louder than words, look at how they refused Sheffield Forgemasters their loan just days after his rebalancing weasel words. They haven't a clue. Not according to these graphs. UK manufacturing percentage of GDP British manufacturing industry http://news.bbc.co.uk/1/hi/business/1475644.stm http://www.theregister.co.uk/2010/02/22/manufacturing_figures/ Link to comment Share on other sites More sharing options...
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