Britain is officially stuck in its longest ever recession ...
23 October 2009, 10:50 AM
#1
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Britain is officially stuck in its longest ever recession ...
What they didn't ask in QT last night due to their BNP 'hate' fest was anything to do with the economy. And guess what the figures show today? Britain Stuck In Longest Recession In History As Economy Shrinks Again In Third Quarter Of 2009 | Business | Sky News
Cracking quotes from this news item:
"... The result comes as a surprise after economists predicted GDP would grow by about 0.2% in the three months to the end of September ..." and
"... But the GDP reading will have wrongfooted the Bank after governor Mervyn King said earlier this week he believed Britain to have entered a period of fragile recovery ..."
So, basically, no-one in any sort of position of supposed authority has any clue about what's going on? I'm with the HSBC chief who reckons we're on the middle tip of a 'W' shaped recovery - if you can call it that. I also saw a report the other day that said many more firms were starting to get into trouble which meant that loads more would go to the wall over the next quarter or so.
Happy times ahead then ....
Dave
Cracking quotes from this news item:
"... The result comes as a surprise after economists predicted GDP would grow by about 0.2% in the three months to the end of September ..." and
"... But the GDP reading will have wrongfooted the Bank after governor Mervyn King said earlier this week he believed Britain to have entered a period of fragile recovery ..."
So, basically, no-one in any sort of position of supposed authority has any clue about what's going on? I'm with the HSBC chief who reckons we're on the middle tip of a 'W' shaped recovery - if you can call it that. I also saw a report the other day that said many more firms were starting to get into trouble which meant that loads more would go to the wall over the next quarter or so.
Happy times ahead then ....
Dave
Last edited by hutton_d; 23 October 2009 at 11:18 AM. Reason: Speeling .....
23 October 2009, 11:02 AM
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Today's numbers were a shocker to be honest. When i hear about things like property price bubbles in Clapham at the moment, i just wonder who the hell has all this money? It just reinforces the rift between the employed and the unemployed. How we've avoided civil unrest i really don't know.
23 October 2009, 11:03 AM
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What they didn't ask in QT last night due to their BNP 'hate' fest was anything to do with the economy. And guess what the figures show today? Britain Stuck In Longest Recession In History As Economy Shrinks Again In Third Quarter Of 2009 | Business | Sky News
Cracking quotes from this news item:
"... The result comes as a surprise after economists predicted GDP would grow by about 0.2% in the three months to the end of September ..." and
"... But the GDP reading will have wrongfooted the Bank after governor Mervyn King said earlier this week he believed Britain to have entered a period of fragile recovery ..."
So, basically, no-one in any sort of position of supposed authority has any clue about what's going on? I'm with the HSBC chief who reckons we're on the middle tip of a 'W' shaped recovery - if you can call it that. I also saw a report the other day that said many more firms were starting to get into trouble which meant that loads more would go to the wall over the next quarter or so.
Happt times ahead then ....
Dave
Cracking quotes from this news item:
"... The result comes as a surprise after economists predicted GDP would grow by about 0.2% in the three months to the end of September ..." and
"... But the GDP reading will have wrongfooted the Bank after governor Mervyn King said earlier this week he believed Britain to have entered a period of fragile recovery ..."
So, basically, no-one in any sort of position of supposed authority has any clue about what's going on? I'm with the HSBC chief who reckons we're on the middle tip of a 'W' shaped recovery - if you can call it that. I also saw a report the other day that said many more firms were starting to get into trouble which meant that loads more would go to the wall over the next quarter or so.
Happt times ahead then ....
Dave
Cheerful sod aren't you
d
23 October 2009, 11:06 AM
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Something to do with newly affluent chinese/else buying their peice of London - just how are you going to stop that ?
There's a lot of them after all
There's a lot of them after all
23 October 2009, 11:15 AM
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23 October 2009, 11:40 AM
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"More worrying from sterling's perspective is the fact that the UK may be the only major economy to have contracted in Q3."
Chancellor Alistair Darling said the figures did not contradict his Budget outlook, which predicted a return to growth at the turn of the year."
And I thought Gordon Brown was going to save the world? It's very polite of him to give all the other countries a head start.
Chancellor Alistair Darling said the figures did not contradict his Budget outlook, which predicted a return to growth at the turn of the year."
And I thought Gordon Brown was going to save the world? It's very polite of him to give all the other countries a head start.
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23 October 2009, 12:01 PM
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From Tory policies could lead to 'Japanese-style' recession, says Gordon Brown | Politics | guardian.co.uk
"... And he contrasted his approach with that favoured by the Tories, who, he suggested, were advocating policies that would end the recovery and tip the British economy back into recession ..."
And so far the Labour policies have done what exactly .... ??
Dave
"... And he contrasted his approach with that favoured by the Tories, who, he suggested, were advocating policies that would end the recovery and tip the British economy back into recession ..."
And so far the Labour policies have done what exactly .... ??
Dave
23 October 2009, 12:19 PM
#9
From Tory policies could lead to 'Japanese-style' recession, says Gordon Brown | Politics | guardian.co.uk
"... And he contrasted his approach with that favoured by the Tories, who, he suggested, were advocating policies that would end the recovery and tip the British economy back into recession ..."
And so far the Labour policies have done what exactly .... ??
Dave
"... And he contrasted his approach with that favoured by the Tories, who, he suggested, were advocating policies that would end the recovery and tip the British economy back into recession ..."
And so far the Labour policies have done what exactly .... ??
Dave
End the recovery? WHAT recovery?
Whatever barsteward said we were in a recovery, wants to get up here and have a look: No jobs, more people unemployed than since 1993, firms contracting or going to the wall daily.
If that's BRITISH recovery, give me the Jap version any day
It's about time we picked that Jock tw@ up on his statements that "Britain is best placed to weather the recession", and "Britain will have a shallow recession compared to the rest of the world".
Meanwhile, the bankers are about to pay themselves roughly THREE times as much in bonuses as they did last year
And am I the only one that thinks it just a little bit suspicious that the slimy government mouthpiece, the BBC, chose to put the BNP on Question Time JUST BEFORE the figures for Q3 were released? Anyone else think that it just MIGHT have been a smokescreen for the figures?
23 October 2009, 01:22 PM
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At the same time, you have MP's rorting the system. Buying property, on the assumtion of ever increasing vaule, is a fallacy. Stock market, Fannie May etc, some reasons for WW2.
Do we need WW3? Well keep spending beyond your income! The cycle will repeat.
Do we need WW3? Well keep spending beyond your income! The cycle will repeat.
23 October 2009, 02:21 PM
#13
There's something else that nobody seems to have thought of and thats the massive cuts in spending that are starting to happen in the public sector.
In our region, every major public body is in dire straits financially and it'll be worse next year. Hundreds of job cuts, recuitment freezes and cuts in capital funding and spending. We've had £18M cut next year for building projects in our organisation alone. We've been a major factor in keeping some local construction companies in business up until now....
The government isn't backing out of NHS pay rises for most staff due in 2010/11, but they've not provided full funding to allow it to happen! So more cuts to fund that.
Where does a lot of this ultimately impact? The private sector where public money is spent on supplies, equipment, costs of living and building works etc.
Its bound to help a double-dip I'd say.
In our region, every major public body is in dire straits financially and it'll be worse next year. Hundreds of job cuts, recuitment freezes and cuts in capital funding and spending. We've had £18M cut next year for building projects in our organisation alone. We've been a major factor in keeping some local construction companies in business up until now....
The government isn't backing out of NHS pay rises for most staff due in 2010/11, but they've not provided full funding to allow it to happen! So more cuts to fund that.
Where does a lot of this ultimately impact? The private sector where public money is spent on supplies, equipment, costs of living and building works etc.
Its bound to help a double-dip I'd say.
25 October 2009, 05:19 PM
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Well everything's now alright. Gordon has promised that by the end of the year we'll be out of recession.
Britain Will Be Out Of Recession By The End Of The Year, Gordon Brown Pledges In A Podcast | Politics | Sky News
"... Gordon Brown has pledged to get Britain out of recession by the end of the year, after new figures showed the economy is still shrinking ..."
"... In a podcast released on the number 10 website and YouTube, the Prime Minister said the battle to stop the global downturn becoming a Great Depression was being won. .... Mr Brown's podcast, which managed to attract only 142 views in 24 hours on YouTube, was released on the 80th anniversary of the Wall Street Crash ..."
I feel so much better for reading that ....
Dave
Britain Will Be Out Of Recession By The End Of The Year, Gordon Brown Pledges In A Podcast | Politics | Sky News
"... Gordon Brown has pledged to get Britain out of recession by the end of the year, after new figures showed the economy is still shrinking ..."
"... In a podcast released on the number 10 website and YouTube, the Prime Minister said the battle to stop the global downturn becoming a Great Depression was being won. .... Mr Brown's podcast, which managed to attract only 142 views in 24 hours on YouTube, was released on the 80th anniversary of the Wall Street Crash ..."
I feel so much better for reading that ....
Dave
25 October 2009, 05:44 PM
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Well I am no expert, but I was suprised at the figures this week as it seems at least in my business that things are picking up quite well in the last few months. While I don't think the country is out of trouble by a long chalk I can't help but feel that any good news figures are going to be put on hold until just before an election if you get my drift.
The question I do have is why so many on here sound almost like they are willing the country to fail just so they can have more of a pop at Gordon Brown. Surely we should be wanting and willing things to pick up and playing whatever part we can despite Brown. Or am I wrong and should I just join in with the wallowing in the doomongering
The question I do have is why so many on here sound almost like they are willing the country to fail just so they can have more of a pop at Gordon Brown. Surely we should be wanting and willing things to pick up and playing whatever part we can despite Brown. Or am I wrong and should I just join in with the wallowing in the doomongering
25 October 2009, 06:42 PM
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25 October 2009, 06:56 PM
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However I speak to a lot of businesses up and down the country and rarely hear anybody doing any better that scraping by.
TBH i would put money on the FSA/courts ruling against the banks (bank charges) in the next four weeks and the banks paying back asap to put a lot on money back into the economy over the run up to christmas. The cynic in me thinks that the Gov't will apply pressure to ensure this happens whilst they are still in power. The Govt have not pressed the banks hard to lend and face it the banks have not been lending, even though they have given tax payers money to the banks. I see this as the payback for the banks as some estimated 2bn is put back into peoples pockets with a lot of it being spent in the high street Dec/Jan.
25 October 2009, 07:25 PM
#24
Well I am no expert, but I was suprised at the figures this week as it seems at least in my business that things are picking up quite well in the last few months. While I don't think the country is out of trouble by a long chalk I can't help but feel that any good news figures are going to be put on hold until just before an election if you get my drift.
The question I do have is why so many on here sound almost like they are willing the country to fail just so they can have more of a pop at Gordon Brown. Surely we should be wanting and willing things to pick up and playing whatever part we can despite Brown. Or am I wrong and should I just join in with the wallowing in the doomongering
The question I do have is why so many on here sound almost like they are willing the country to fail just so they can have more of a pop at Gordon Brown. Surely we should be wanting and willing things to pick up and playing whatever part we can despite Brown. Or am I wrong and should I just join in with the wallowing in the doomongering
Thanks, Labour, and Sh*t Brown, good job we were in a good position to weather this storm, or lots of jobs would have been lost..........oh, wait a minute.........
25 October 2009, 08:40 PM
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25 October 2009, 08:59 PM
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Well I am no expert, but I was suprised at the figures this week as it seems at least in my business that things are picking up quite well in the last few months. While I don't think the country is out of trouble by a long chalk I can't help but feel that any good news figures are going to be put on hold until just before an election if you get my drift.
The question I do have is why so many on here sound almost like they are willing the country to fail just so they can have more of a pop at Gordon Brown. Surely we should be wanting and willing things to pick up and playing whatever part we can despite Brown. Or am I wrong and should I just join in with the wallowing in the doomongering
The question I do have is why so many on here sound almost like they are willing the country to fail just so they can have more of a pop at Gordon Brown. Surely we should be wanting and willing things to pick up and playing whatever part we can despite Brown. Or am I wrong and should I just join in with the wallowing in the doomongering
i guess it as good as time as any to be a rent boy, all those mps and bankers with pockets full of cash...
25 October 2009, 10:37 PM
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Where in the country are you? In the North Midlands, jobs are going on a weekly basis, with people not finding anything to replace them. Small businesses and factories going to the wall as I type, NONE of them will EVER reopen.
Thanks, Labour, and Sh*t Brown, good job we were in a good position to weather this storm, or lots of jobs would have been lost..........oh, wait a minute.........
Thanks, Labour, and Sh*t Brown, good job we were in a good position to weather this storm, or lots of jobs would have been lost..........oh, wait a minute.........
Look, I am not saying things are great, just that in the last 3 months I have seen some pick up in my business and others I deal with. That has to be better than what we had for the previous 9 months.
25 October 2009, 10:55 PM
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I've got to agree with F1 fan in that buisness is picking up quite well at the moment with us too (consruction), we've got a few jobs starting granted we are a main contractor to a design and build company who has big council contracts, but even Persimmon Homes who we also do work for have asked us to price up a job for them in Doncaster. Also a leisure park we've built from scratch over the last 5 years has asked us to start the next phase in Feb. This is all mainly around East Yorkshire which supposedly has it quite bad at the moment (not that the rest of the country haven't).
Aaron
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25 October 2009, 11:13 PM
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Begbies forecasts 40,000 businesses will go bust - Times Online
"... The rise in business confidence is a temporary lull before a fresh slump that will see up to 40,000 businesses to go bust next year, a new study has forecast.
Begbies Traynor, the restructuring advisory firm, said there was growing evidence that Britain was only at the mid-point of a "W" shaped recession.
Although the number of companies in a seriously distressed state fell in absolute terms both year-on-year and quarter-on-quarter in the third quarter, it said, it believes a renewed bloodbath of businesses is likely in 2010 and into 2011 with between 30,000 and 40,000 failing. The surge will be fuelled, it said, by a lack of available credit ..."
Dave
PS: though they are a "restructuring advisory firm" ....
"... The rise in business confidence is a temporary lull before a fresh slump that will see up to 40,000 businesses to go bust next year, a new study has forecast.
Begbies Traynor, the restructuring advisory firm, said there was growing evidence that Britain was only at the mid-point of a "W" shaped recession.
Although the number of companies in a seriously distressed state fell in absolute terms both year-on-year and quarter-on-quarter in the third quarter, it said, it believes a renewed bloodbath of businesses is likely in 2010 and into 2011 with between 30,000 and 40,000 failing. The surge will be fuelled, it said, by a lack of available credit ..."
Dave
PS: though they are a "restructuring advisory firm" ....
Last edited by hutton_d; 25 October 2009 at 11:14 PM.