UK economy grows 0.8% in 3 months July-September. The green shoots.

[Bigthumb]

So growth is 0.3% less than it stood at the General Election in 2010. That's progress

 

That's correct. The Labour government sent the economy into a downward spiral that has taken 5years to recover.

 

We should perhaps learn about Labour governments from this.

[Longcol]

That's correct. The Labour government sent the economy into a downward spiral that has taken 5years to recover.

 

 

So growth was 1.1% when the "Coalition" won power (2010) and three years later has reached a massive 0.8%.

 

Explain the "5 years" please

[chem1st]

So growth is 0.3% less than it stood at the General Election in 2010. That's progress

 

Growth might be 10%

Growth might be 0.1%

There might not be growth, there could even be negative growth.

 

It could be much more desirable to live in the place with 0.1% growth than the place with 10% growth, depending upon the form of growth.

 

It could be much more desirable to live in a place with -10% growth than a place with 10% growth.

 

The place with -10% growth could have an increase in real economic output that vastly exceeds the place with 10% growth.

[Longcol]

 

The place with -10% growth could have an increase in real economic output that vastly exceeds the place with 10% growth.

 

What you been smoking tonight

[chem1st]

What you been smoking tonight

 

Suppose GDP is made up of different things, which it is.

 

And that some of it is entirely fictitious.

 

If the fictitious number rises, so does GDP.

 

So you can have 10% growth in GDP purely from the result of an increase in the fictitious number.

 

Suppose the fictitious number falls, but a real worker manufactures some goods and trades them.

 

GDP can fall, even though production and trade has increased.

[Mecky]

Growth might be 10%

Growth might be 0.1%

There might not be growth, there could even be negative growth.

 

It could be much more desirable to live in the place with 0.1% growth than the place with 10% growth, depending upon the form of growth.

 

It could be much more desirable to live in a place with -10% growth than a place with 10% growth.

 

The place with -10% growth could have an increase in real economic output that vastly exceeds the place with 10% growth.

 

There appears to be a slight growth since the forecast was halved last spring, whether you can actually call that growth, I'm not sure. But it's just a public opinion story in the run-in 2015 election, just like I said would happen

[chem1st]

There appears to be a slight growth since the forecast was halved last spring, whether you can actually call that growth, I'm not sure. But it's just a public opinion story in the run-in 2015 election, just like I said would happen

 

Homeowners are paying themselves much more rent innit.

 

If we ever have any meaningful wage inflation, the government might propose we include washing up the pots in the GDP.

 

I'm surprised they haven't thought about including imputed imputed tax on baccy and booze yet.

 

All them people smoking duty free and e-cigs, drinking duty free booze. Imagine the tax they would pay, if they smoked ciggies from the shop and booze that is nearly pure tax.

Surely the government should guesstimate the amount they might have paid in tax, if they didn't consume duty free, then add that to GDP.

 

Wallah! Growth.

[Hillpig]

I've never said the ONS was accurate, I slate them with words like, "Even," "Might" and "Can," etc. Why do you always try to resort in dragging out a slagging match?

 

You incite slagging matches when, bereft of argument, you accuse people like me of "desperation".

[Mecky]

You incite slagging matches when, bereft of argument, you accuse people like me of "desperation".

 

Oh maybe it's because people like you always get stubbed out in the end then resort to aggression because you always want the last word.

[Hillpig]

Oh maybe it's because people like you always get stubbed out in the end then resort to aggression because you always want the last word.

 

Aggressive Moi? I am the very soul of placidity, the fact that I state my case in a straightforward manner is not aggressive, the fact that you restrict your contributions to spouting the most inane claptrap and fail to address the issues other than to persistently repeat your Labour is good Tories are bad mantra does tend to get a bit monotonous,

 

I await my "stubbing out". Should I expect a horses head on the bed?