Wednesday, April 25, 2012

DOWN DOWN DOWN

"It's a very tough economic situation. It's taking longer than anyone hoped to recover from the biggest debt crisis of our lifetime. The one thing that would make the situation even worse would be to abandon our credible plan and deliberately add more borrowing and even more debt." George Osborne,
Since Osborne took over running the economy 2 years ago, growth has been 0.4% and yet his entire strategy, the one with which he seems determined to continue,  is based on growth in the economy, which is simply not happening.  


The UK is back in recession. According to figures released today, two years of  pain for everyone in the country, except the rich, has ended in another downturn. 


Still it got Hunt off the top of the news, so it's not all bad news for the government. Twitter is telling me that there's another cabinet minister going to have to reveal some embarrassing stuff. ...Ho hum, just another week in Westminster.

8 comments:

  1. We were never out of recession tris. It was just masked by QE of £300Bn and interest rates of 0.5%.
    Osborne says we can't borrow our way out of recession yet has borrowed £120Bn a year since he took control. Oh and he borrowed £10Bn the other day to give to the EU to drop down the black hole of the EU.

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  2. He's bit of an old fibber is our Gideon, isn't he Monty?

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  3. How much money are they trying to knock off the budget for the sick and dying and how much did he just hand to the IMF to help bail out the Euro?

    About £10 Billion in both cases.

    In fact the UK debt has continued to rise under Osborne and his strategy that economic growth will grow the UK out the problem. In fact the economy is contracting and will not, cannot generate the growth necessary he needs.

    Economic illiteracy, unless you are one of the small group of city slicker mates, who benefit.

    It appears that Osborne is participating in class war.

    Monty is right we have not just entered a second economic dip, it is the same one with inflationary money introduced into the mix.


    What do you expect from a Bullingdon Boy Oxford history graduate?

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  4. Nothing there to disagree with Wolfie...

    For the first and hopefully last time in my life I find myself agreeing with Mad Nad.

    Talking of "mad" has anyone seen Niko?

    And what of Dean and John Brownlie?

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  5. tris

    Yep 'a credible plan' well it got Cameron in 10 downing street so there you have it.

    thats the problem with the little people they just do not understand their proper place in the Old Etonians plan.

    Look at Hunts(with a C) spad went and threw himself off tower bridge(splash!) see he knew what to do......

    Me pc went all tits up lost me internet connection(on me missus laptop at the mo)

    As for recession we have so much work we cannot keep up been working 7 day weeks to keep up with the orders.
    We make parts for BMW(Germany) and i am told a lot is going into china
    a nice manufacturing tale eh! its the one part of the private sector which could turn things around but nobody gave a shite about us for years and years.

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  6. Niko, old mate. Glad to hear you haven't fallen under a bus.

    Yes, I thought it courageous of that little Spad and his worthless life to sacrifice himself so that his master and social better didn't have to bother with it.

    At least it shows that at least some little people still know their place in the scheme of things, and that good old British values of class and breeding still resonate with at least some of the lower orders.

    I'm glad you have plenty of work BMWs for China sounds about right. I was reading how they will pay a fortune for sharks' fins to make soup and so abalone from South Africa because it is expensive and therefore impresses people.

    It's a pity Mrs Thatcher shut out manufacturing industry down, or maybe we could have been supplying stuff, besides weapons.

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