MrSmith Posted August 4, 2012 Share Posted August 4, 2012 I don't see why you would think a long period of recession (shrinking) would be good, people losing their jobs, higher welfare bill, fewer tax receipts.....but, a stagnant economy is not necessarily bad, a maintenance of the status quo. For some reason, we've become conditioned to expect a limitless period of growth, like the economy can just grow and grow and grow indefinitely, a bit of a false promise we've been fed I'm afraid. Because it would likely lead to a smaller population, more affordable housing and in the long term would make the country more sustainable. Link to comment Share on other sites More sharing options...
wednesday1 Posted August 9, 2012 Author Share Posted August 9, 2012 Perhaps you should try reputable sources for your statistical material rather than posting from comics. But I suppose if you did that they would have the negative material that you are seeking. http://www.bbc.co.uk/news/business-18881881 This source any good for anarchist, sorry Polomint? Let the facts speak for themselves: UK trade deficit hits new record Britain's trade deficit ballooned to its highest level since modern records began in June following a sharp drop in exports to Europe and the rest of the world http://www.guardian.co.uk/business/2012/aug/09/uk-trade-deficit-new-record Now, where were we with the 'rebalancing'? Link to comment Share on other sites More sharing options...
wednesday1 Posted November 9, 2012 Author Share Posted November 9, 2012 Slump in UK industrial output dents recovery hopes By Peter Griffiths and Olesya Dmitracova LONDON | Tue Nov 6, 2012 10:36am GMT (Reuters) - British industrial output fell more sharply than expected in September, data showed on Tuesday, reinforcing fears an incipient recovery will struggle to gather pace. Excluding a decline in June, due partly to an extra public holiday, the 1.7 percent monthly fall was the biggest since August 2009 and much bigger than the 0.6 percent decline analysts had forecast. The data further complicates the economic picture for policymakers. Economists have been paring back expectations of more monetary stimulus in November since a surprise 1 percent rise in British output between July and September. Many economists pointed out that the main driver of the industrial data weakness was a slump in oil and gas production, which was due to maintenance work on North Sea platforms. However, manufacturing output rose by a smaller than expected 0.1 percent in September on the month after a downwardly revised drop of 1.2 percent in August, the Office for National Statistics said. The figures supported British government bonds, helping them outperform their German counterparts. The downbeat data come two days before the Bank of England (BoE) must decide whether to inject further cash into the economy to prop up the recovery. The central bank has already bought government bonds worth 375 billion pounds in its quantitative easing programme and several central bankers have made cautious comments. "I think we can expect a downward revision of the (third quarter) GDP figure... More worrying is the effect this might have on fourth-quarter gross domestic product," said Brian Hilliard, economist at Societe Generale. "As for the coming BoE decision, I think this will have very little effect. We've had a very strong suggestion from (Bank of England governor) Mervyn King that it might be time to sit back and just analyse what's going on rather than continue with QE." RISKS AHEAD Britain's return to growth is at threat from public spending cuts, tax rises and low wage growth that have sapped consumer confidence, while the euro zone debt crisis has cast a dark cloud over the business outlook. Business surveys have indicated a weak start to the final quarter of the year and economists have pointed out that one-off factors contributed to Britain's third quarter growth. A survey showed on Monday that business in the dominant services sector expanded at the slowest pace in almost two years in October and optimism about the outlook dimmed. Other news on the economy on Tuesday painted a mixed picture. British retail sales slowed sharply in October and house prices fell at a faster rate. However, new car sales rose strongly and the car business lobby SMMT raised its forecast for sales this year. Industrial production was 0.9 percent higher in the three months that ended in September compared to the previous three-month period. It was unchanged in the three months to August. Mining and quarrying recorded the biggest monthly drop since February 1974, while oil and gas extraction posted the largest fall since records began in 1997. What's is happening with the rebalancing? Link to comment Share on other sites More sharing options...
Vague_Boy Posted November 9, 2012 Share Posted November 9, 2012 What's is happening with the rebalancing? It's a nice idea but about 50 years too late. Had the whole history of British post-war industry been different, we might have a chance. Had there been fewer strikes for a start. Less restrictive practices, less resistance to new developments and work methods (all of which were supposed to preserve jobs). Whoops, what went wrong there? And much less natonalization as well. British Steel, British Coal, British Leyland. All either gone of pitifully shrunken echoes of their former selves. Germany took the opposite route and whoop de dee, look at their unemployment figures, the lowest in the EU. These days the British people have had their entrepreneurial spirit bled out of them. Better to rely on the State for a job (or for benefits). This is the situation we have now and the tragedy is that it's precisely and exactly what we chose for ourselves. Link to comment Share on other sites More sharing options...
wednesday1 Posted November 10, 2012 Author Share Posted November 10, 2012 It's a nice idea but about 50 years too late. Had the whole history of British post-war industry been different, we might have a chance. Had there been fewer strikes for a start. Less restrictive practices, less resistance to new developments and work methods (all of which were supposed to preserve jobs). Whoops, what went wrong there? And much less natonalization as well. British Steel, British Coal, British Leyland. All either gone of pitifully shrunken echoes of their former selves. Germany took the opposite route and whoop de dee, look at their unemployment figures, the lowest in the EU. These days the British people have had their entrepreneurial spirit bled out of them. Better to rely on the State for a job (or for benefits). This is the situation we have now and the tragedy is that it's precisely and exactly what we chose for ourselves. Hey Baaaaaaarnsley Bill! You are correct in that the ConDems are not the people to take us forward, they have no idea about manufacturing and care even less. Link to comment Share on other sites More sharing options...
Anna B Posted November 10, 2012 Share Posted November 10, 2012 Its not very surprising is it. Quote chem1st "There is more chance of a civil war than an economic recovery." I agree. We are over-saturated with goods and most now have a PC, Mobile, HD TV etc so unless something new is invented that uses manual labour instead of automation economies wont change. The key is in creating jobs and they cant create enough to make any difference. I doubt there will ever be full employment again in this country, indeed throughout the world, as manufacturing becomes more and more technological and automated. We need to think in completely new ways. At the moment we are moving towards a two tier world, with a very few at the top becoming supermega rich, whilst the rest of humanity becomes poorer and poorer. As others have said, the time is ripe for rebalancing, in many different ways. Can we afford to live in a finite world with finite resources yet continue to pursue infinate growth? It's not sustainable. We have some very serious decisions to make about our future at a time when people seem to be less trusting of our politicians, the ballot box, and even each other. A civil war however, or any kind of uprising, will only add to the problems in the longterm. Link to comment Share on other sites More sharing options...
Mecky Posted November 10, 2012 Share Posted November 10, 2012 UK manufacturing figures deal hammer blow to recovery hopes http://www.guardian.co.uk/business/2012/aug/01/uk-manufacturing-figures-blow-to-recovery Manufacturing has shrunk at its highest rate for more than 3 years, July's figures show. When the ConDems were 'elected' they claimed that the economy needed rebalancing, away from the service sector to the wealth generating manufacturing industries. Not only has manufacturing failed to grow, output is weaker now than it was when they took power. Do they have a clue what they are doing? You can't say things like that, the tory bullyboys on here won't be at all happy Link to comment Share on other sites More sharing options...
wednesday1 Posted November 10, 2012 Author Share Posted November 10, 2012 You can't say things like that, the tory bullyboys on here won't be at all happy It would appear they haven't gone into hiding! Link to comment Share on other sites More sharing options...
wednesday1 Posted November 23, 2012 Author Share Posted November 23, 2012 The good news just keeps on coming: http://www.bbc.co.uk/go/em/fr/-/news/uk-wales-20461523 Link to comment Share on other sites More sharing options...
Thistledoo Posted November 23, 2012 Share Posted November 23, 2012 The good news just keeps on coming: http://www.bbc.co.uk/go/em/fr/-/news/uk-wales-20461523 Short term pain, for long term gain! Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.