hackey lad Posted November 3, 2022 Share Posted November 3, 2022 2 minutes ago, Chekhov said: Yeah, for two and half years those of us who have been predicting possibly the biggest recession since the 1930s "don't know what we're talking about" : https://www.bbc.co.uk/news/business-63471725 The Bank of England has warned the UK is facing its longest recession since records began, as it raised interest rates by the most in 33 years. It warned the UK would face a "very challenging" two-year slump with unemployment nearly doubling by 2025. While it will not be the UK's deepest downturn, it will be the longest since records began in the 1920s, the Bank said. Not that it took much in the way of predictive powers, since March 2020 it was obvious to anyone with half a brain what would happen. So all these problems are caused by Covid? Link to comment Share on other sites More sharing options...
Chekhov Posted November 4, 2022 Author Share Posted November 4, 2022 (edited) 11 hours ago, hackey lad said: So all these problems are caused by Covid? The Covid lockdowns are by far the biggest factor, yes. The only reason the recession didn't happen in 2020 was the government pumped huge amounts of money into the economy. That temporarily postponed the recession but at a cost of huge inflation, so we've got a double whammy now. The TUC leader is correct that "workers are being pushed to breaking point" (and it'll get worse), but she is wrong to blame the Tory government when the major cause of this was a policy (Covid suppression) which the Labour party enthusiastically backed, and, in fact, wanted more of and for longer. Edited November 4, 2022 by Chekhov Link to comment Share on other sites More sharing options...
RJRB Posted November 4, 2022 Share Posted November 4, 2022 12 minutes ago, Chekhov said: The Covid lockdowns are by far the biggest factor, yes. The only reason the recession didn't happen in 2020 was the government pumped huge amounts of money into the economy. That temporarily postponed the recession but at a cost of huge inflation, so we've got a double whammy now. The TUC leader is correct that "workers are being pushed to breaking point" (and it'll get worse), but she is wrong to blame the Tory government when the major cause of this was a policy (Covid suppression) which the Labour party enthusiastically backed, and, in fact, wanted more of and for longer. Let’s assume that there was general cross party support throughout the U.K. for the majority of the measures. However ,the party with a considerable majority actually called the shots. What contorted logic leads you to place more blame on the Labour Party than the Conservatives. Before you list some selective quotes,just remember that some Conservative MPs. were calling for quicker responses from Johnson’s cabinet in the early stages . Link to comment Share on other sites More sharing options...
Chekhov Posted November 4, 2022 Author Share Posted November 4, 2022 Just now, RJRB said: Let’s assume that there was general cross party support throughout the U.K. for the majority of the measures. However ,the party with a considerable majority actually called the shots. What contorted logic leads you to place more blame on the Labour Party than the Conservatives. Before you list some selective quotes,just remember that some Conservative MPs. were calling for quicker responses from Johnson’s cabinet in the early stages . The Tory party are responsible for where we are economically, but it is thoroughly hypocritical of the Labour party and left leaning people, to imply it was the Tories wot done it. The Labour party were wanting more suppression and for longer. If they'd actually opposed the government, then , with significanly support from Tory back benchers, we might have got out of this with less damage. Remember those Labour Mayors opposing lockdowns in late 2020 ? They were not opposing lockdown policies, they just wanted even more money for their cities. Link to comment Share on other sites More sharing options...
RJRB Posted November 4, 2022 Share Posted November 4, 2022 @ChekhovBut as always it is entirely vacuous to support or justify events performed by those with the authority with the argument that it would have been worse under a different regime. We are where we are as a result of the measures taken. We still have a Conservative Government who will wrestle with the multiple problems arising from the pandemic,Brexit,the catastrophic reign of Truss, Illegal immigration,and no doubt the opposition parties will seek to criticise at every opportunity. That is the nature of confrontational politics. Personally,I can rub along with middle of the road Conservatives or Labour,but at the moment we seem to be overly influenced by the extremists of both parties 1 Link to comment Share on other sites More sharing options...
top4718 Posted November 4, 2022 Share Posted November 4, 2022 I can agree with what the TUC are saying, job satisfaction is at an all time low, morale is way down, nearly everyone I speak to in different industries is fed up and would give up their job tomorrow if they could, most of us have to work but there has to be some job satisfaction, companies aims of maximising profit and hugely rewarding directors/shareholders is having a massive detrimental effect on the "shop floor". 1 Link to comment Share on other sites More sharing options...
L00b Posted November 4, 2022 Share Posted November 4, 2022 14 hours ago, Chekhov said: Yeah, for two and half years those of us who have been predicting possibly the biggest recession since the 1930s "don't know what we're talking about" : https://www.bbc.co.uk/news/business-63471725 The Bank of England has warned the UK is facing its longest recession since records began, as it raised interest rates by the most in 33 years. It warned the UK would face a "very challenging" two-year slump with unemployment nearly doubling by 2025. While it will not be the UK's deepest downturn, it will be the longest since records began in the 1920s, the Bank said. Not that it took much in the way of predictive powers, since March 2020 it was obvious to anyone with half a brain what would happen. Why are you still quoting me in your pointless crusade? It’s been shown to you in the top post of this page, that Covid19’s weight in current-day inflation is (1) a factor (that was never in doubt) and (2) a lesser factor relative to others (which only you refuse to accept in here). The same is true insofar as wider economic developments and indicators are concerned, both in the UK and wherever else. Do you need it explaining to you with crayons? Link to comment Share on other sites More sharing options...
Tyke02 Posted November 4, 2022 Share Posted November 4, 2022 23 minutes ago, RJRB said: But as always it is entirely vacuous to support or justify events performed by those with the authority with the argument that it would have been worse under a different regime. I agree. Aside from anything else, the only way Labour could have been in charge would have been in they had won the 2019 election. If they had, then the Labour Party would probably still be led by Corbyn rather than Starmer and may well have acted differently. For example, Corbyn voted against the Dec 2020 restrictions and tier system while Starmer instructed his MPs to abstain. https://www.spectator.co.uk/article/jeremy-corbyn-covid-rebel/ Link to comment Share on other sites More sharing options...
Chekhov Posted November 4, 2022 Author Share Posted November 4, 2022 (edited) 47 minutes ago, RJRB said: @ChekhovBut as always it is entirely vacuous to support or justify events performed by those with the authority with the argument that it would have been worse under a different regime. We are where we are as a result of the measures taken. We still have a Conservative Government who will wrestle with the multiple problems arising from the pandemic,Brexit,the catastrophic reign of Truss, Illegal immigration,and no doubt the opposition parties will seek to criticise at every opportunity. That is the nature of confrontational politics. Personally,I can rub along with middle of the road Conservatives or Labour,but at the moment we seem to be overly influenced by the extremists of both parties Oh we agree, again. 19 minutes ago, L00b said: Why are you still quoting me in your pointless crusade? It’s been shown to you in the top post of this page, that Covid19’s weight in current-day inflation is (1) a factor (that was never in doubt) and (2) a lesser factor relative to others (which only you refuse to accept in here). The same is true insofar as wider economic developments and indicators are concerned, both in the UK and wherever else. Do you need it explaining to you with crayons? Maybe I have got the wrong end of the stick, but you seemed to be disagreeing with my hypothesis that the main reason we are where we are is because of suppressing society and the economy to try and suppress Covid, whilst, at the same time, pumping Billions into into said economy. You also more or less said you did not think I know anything about this and am just tilting at Covid suppression again. Funny how I, and many others to be fair, now even have the BofE agreeing with us, it is going to be BAD. Edited November 4, 2022 by Chekhov Link to comment Share on other sites More sharing options...
Tyke02 Posted November 4, 2022 Share Posted November 4, 2022 52 minutes ago, Chekhov said: Funny how I, and many others to be fair, now even have the BofE agreeing with us, it is going to be BAD. You really can't say the BoE agree with you about what the biggest contributor to inflation is, which they have as energy costs. It's even a bit of a stretch to say that they agree with you about how bad it will be, since I don't think you ever made any forecasts about the timing and magnitude of the economic effects of lockdown. 1 Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now