GDP shocka

[Slaav]

spikeyhead said:

uk_vette said:

So what to do with the lump of savings in the bank?
I dont want to buy a house, as I believe the general house prices will still drop further during this 2011.
Move cash to another country that is offering far better interest rates?
China ?

'vette

I'm buying an Atom. Anyone think it's the wrong thing to do?

So pleased that you are doing your bit for the economy! Very noble - assuming that is the only reason?

[Victor McDade]

Slaav said:

How come that Balls(up) hasnt been featured all over the rolling news yet?

Spouting bks about its all the Coalition's fault and their policies are to blame etc etc

AAARRRGGGHHHH!

He's on newsnight soon.

[Zod]

KENZ said:

That period figures should have been the highest for the year. Weather would'nt have been a huge factor. I can see a double dip on the horizon if this goverment stays it's course and we've not had the public sector cuts yet!!!

Exactly the same thing happened last year with the snow and the recovery came in the next month.

If you think that Ed Balls' prescription would improve things, you are an extreme optimist. He prescribes an increase in the country's already outrageous debt. This, he claims to believe, will stimulate growth which will produce a greater increase in tax revenues than the extra debt interest we will have to pay, thus reducing the deficit (the gap between the nation's revenues and it's expenditure) more quickly than the Government's plan which is to reduce the debt and thus the interest payable.

It would be ludicrous even if Labour would spend the extra raised from the increased debt on real investment in the private sector (which pays for everything), but Labour would instead "invest" the money in the public sector. As we know from the thirteen years of profligacy, this "investment" would be spent largely on employing armies of client voters in non-jobs, on pointless "university" courses for illiterate and innumerate youth and other pet Labour projects.

[Wadeski]

Unfortunately, telling a few hundred thousand public sector / public sector tied workers that they are soon to be on the dole doesnt do wonders for consumer confidence.

Although on the flipside, the larger retailers (Tesco, JS et al) didnt have a bad Christmas.

[groan]

spikeyhead said:

uk_vette said:

So what to do with the lump of savings in the bank?
I dont want to buy a house, as I believe the general house prices will still drop further during this 2011.
Move cash to another country that is offering far better interest rates?
China ?

'vette

I'm buying an Atom. Anyone think it's the wrong thing to do?

Absolutely not. Great idea. Best thing to do when all around is crap is have some fun. And if an atom isn't amusing, you're clinically dead.

My missus spent a month whining about being unable to take her Boxster out (in the ice and snow). Whine whine we need a 4 wheel drive whine whine. So I've told her Porsche (she likes Porsches) make a 4wd which really doesn't look much different to the Boxster or feel much different when you sit in it. It's just got a bigger engine, but of course that doesn't mean it has to be driven fast or anything like that. She's quite keen! So it looks as if there's a new toy on the way!

[Ozzie Osmond]

So maybe someone can explain that "Santa rally" on the stock market last December? Until then I stand by my original position.

http://www.pistonheads.com/gassing/topic.asp?h=0&a... bonuses - they're at it again.&mid=28356

"But no. Here we are in December with not a hint of good news in sight yet the index is being talked up on hopes that British companies have enjoyed good profit growth through the second half of the year. Line yer pockets lads!"!

[Zod]

Ozzie, the companies in the FTSE 100 are global. Their revenue exposure to the UK is ever-diminishing.

[Mojocvh]

Fittster said:

Harry Flashman said:

But if the bulk of the polulation are in debt, he may be penalising savers, but he's holding off bannruptcies/difficulties for the vast majority.

What would you prefer - a situation of mass defaults on loans/mortgages?

I hate that my savings make me nothing - but I'm pumping what I would have saved into the mortgage, above the "slush fund" for rainy days. I'd far rather that than half the country going insolvent, spending completely shutting down, and everything getting even worse...

Then the majority who have taken on debt they can't handle should get what they deserve, it's the only way out of a depression. Now we just need for CMD and the boy George to say something along the lines of:

"liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate… it will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up from less competent people."

Weeding out "weak" banks as a harsh but necessary prerequisite to the recovery of the banking system. This "weeding out" should be accomplished through refusing to lend cash to banks (taking loans and other investments as collateral), and by refusing to put more cash in circulation. Advocate spending cuts to keep the budget balanced, and opposed fiscal stimulus measures."



Time for a little hard Austrian medicine.

Edited by Fittster on Tuesday 25th January 11:49

Remember Ceauşescu?

BTW interesting spelling of "labour" there...............

[uk_vette]

DELLSMITHUK said:

Fittster said:

uk_vette said:

So what to do with the lump of savings in the bank?
I dont want to buy a house, as I believe the general house prices will still drop further during this 2011.
Move cash to another country that is offering far better interest rates?
China ?

'vette

Spend it on the high street buying stuff you don't need. Selfish people like you not spending are why we are in this mess!

Hehe

Here,

Have some more
HeheHeheHehe
But honestly, there is nothing I need.

'vette

[johnfm]

crankedup said:

Its difficult to find any organisation which are supporting this Governments monetary policies. Still they must be correct and on the right track if the Tories say so

Labour and the World Banks got us into this mess and I can't see the current Government getting us out of it TBH.

Are you posting rubbish again?

Economic momentum is such that policy changes take 18-24 months to be reflect in GDP figures. This is still a result of Labour economic policy.

[pacman1]

Fittster said:

uk_vette said:

So what to do with the lump of savings in the bank?
I dont want to buy a house, as I believe the general house prices will still drop further during this 2011.
Move cash to another country that is offering far better interest rates?
China ?

'vette

Spend it on the high street buying stuff you don't need. Selfish people like you not spending are why we are in this mess!

Exactly. In such difficult exconomic times, forget the Bible or the Koran. For spiritual sustenance, we should all have a copy of the Book of Joy at our bedside.

[Digga]

johnfm said:

crankedup said:

Its difficult to find any organisation which are supporting this Governments monetary policies. Still they must be correct and on the right track if the Tories say so

Labour and the World Banks got us into this mess and I can't see the current Government getting us out of it TBH.

Are you posting rubbish again?

Economic momentum is such that policy changes take 18-24 months to be reflect in GDP figures. This is still a result of Labour economic policy.

Yes, he's blithely ignoring the fact that, in the absence of major economic reforms, sterling faced the very real prospect of becoming a target for the world financial markets.

[JagLover]

If you look deeper into the figures it is a bit more positive. Manufacturing had a decent quarter (growth of 1.4% in the quarter) and if you look at the below article it appears confidence is strong in the sector for 2011.

http://www.diyweek.net/news/news.asp?id=14168

Ultimatly we are going to have to face the fact that 'growth' from the government spunking money up the wall, or consumers running wild with the credit card is going to be thin on the ground. We need to encourage the sectors that add real value to the economy.

[pilchardthecat]

Really revealing article in the papers quoting Merv King

[b]He would not, he said, be influenced by adverse headlines about inflation, but cautioned that inflationary pay rises would be met with swift action.

"Further rises in world commodity prices and energy prices cannot be ruled out, and attempts to resist their implications for real take-home pay by pushing up wages would require a response by the MPC," Mr King said[/b]

This confirms what I have suspected the strategy was for some time - working people must get poorer; if they don't, we will act to make sure they do.

They are doing what all good banksters should - protect the capital holders by pushing down the biggest cost of most businesses - labour.

[NoelWatson]

pilchardthecat said:

They are doing what all good banksters should - protect the capital holders by pushing down the biggest cost of most businesses - labour.

What is a bankster? Was it coined by a Gruanaid journo?

[thinfourth2]

TVR Moneypit said:

Fittster said:

thinfourth2 said:

onesmallstep said:

frosted said:

Just blame it on the weather

I blame it on the euro

I blame it on the boogie

At least that lets the sunshine, moonlight and good times off the hook.

Dam. Beaten to the joke by about 20 minutes

The world truely would be a better place if the news was reported like this.

[pilchardthecat]

NoelWatson said:

pilchardthecat said:

They are doing what all good banksters should - protect the capital holders by pushing down the biggest cost of most businesses - labour.

What is a bankster? Was it coined by a Gruanaid journo?

No.

The etymology originates in the US. It's derisory term associating bankers with white-collar crime. Typically used by people who think Jefferson probably had it right when he said

"If people ever allow [central] banks to control the issuance of their currencies, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their prosperity, until their children will wake up homeless on the continent their fathers conquered."

[NoelWatson]

pilchardthecat said:

"until their children will wake up homeless on the continent their fathers conquered."

Is that because their parents got greedy and got swept up in the property bubble, hoping for instand riches, overleveraged, an blew up? Or have I got the wrong parents?

[pilchardthecat]

NoelWatson said:

pilchardthecat said:

"until their children will wake up homeless on the continent their fathers conquered."

Is that because their parents got greedy and got swept up in the property bubble, hoping for instand riches, overleveraged, an blew up? Or have I got the wrong parents?

It doesn't matter how greedy you are, you can't have a property bubble without fractional reserve banking.

[oyster]

fesuvious said:

Thinking of a customer of ours;

Went into rented Mid 2008 ('market is crashing, want to have cash') and is now in rented.

Rental £1500 per month. In the market for a house of @£500k

Total rental costs to date knocking on for £30k.

No sign of buying just yet, so assuming we stick another 4 months on that...we are at £35k.

Has the £500k house they sold fallen in value by £35k, yes, Id say so, easily.

Are they better off? Errmmm, Il let you chaps decide that one.

From mid 2008 to now it may have a fallen by about 10% or so.

But when they buy it back they'll have to fork out a further £15/20k in stamp duty. And then there's moving costs to add to it.

And mortgage deals aren't as good now as they were.

Financially there isn't much in it. However your customer has 2 additional house moves to deal with in his life - I hope he enjoys them.