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Britain is officially back in recession. Double-dipping


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Halve the payments to the unemployed. Problem solved.

 

Unemployment benefit is contractual and cannot be revoked without breach of contract,making your suggestion ridiculous,impracticable and counter-productive since the legal costs would further weigh down the economy.

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Unemployment benefit is contractual and cannot be revoked without breach of contract,making your suggestion ridiculous,impracticable and counter-productive since the legal costs would further weigh down the economy.

 

 

Yep, like Phil said the other day, Xenia has all the insight of a security guard!

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There’s plenty of stuff out there dangled in front of peoples nose, the trick is to ignore them if you can't afford them.

 

Why blame the banks, you may as well blame every business that supplies stuff you can’t afford.

 

Except that businesses that supply you with stuff generally have the actual stuff. Banks were lending money that they didn't actually have - when enough people couldn't repay* enough money to plug the hole left by lending non-existent money, it fell through. I think we have every right to blame them for doing that, particularly since we were then forced (by governments) to give the banks vast sums of our money to plug the holes they created.

 

*'repay' isn't strictly correct. For people to repay it, real money would have had to have been paid to them in the first place. This was pretend money, and money isn't even real in the first place!

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But if it's a cycle then eventually a boom will follow the bust phase we're currently going through. This means that the government doesn't need to do anything different, just ride out this short term recession phase and we can look forward to good times ahead within a year or two.

 

4 years of negative or minimal growth doesn't seem much like a short term recession, and there are another 5 years at least of austerity coming. There will eventually be a boom, though, you're right. It will be fuelled by credit. Then we can do all this again.

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