CREDIT CRUNCH - Feck off, it's a Recession.

[Jasandjules]

Stop saying Credit Crunch like it's a soft, cuddly type of bad day.

It's a fecking recession, are people too damn stupid to see that's what is happening? Typical Nu Laba bull***t to change the words of something to sometihng which doesn't sound so bad. It fecking is, and it's going to get worse.

That is all.

[kambites]

Well it's both. It's a recession triggered by a "credit crunch" (is that a new term? I'm sure I'd never heard it until recently). Given the state of the economy before the recession started it was obvious that something was going to cause an economic collapse... it just happened to be this that did it.

[obob]

its not a recession as we're not experiencing negative growth.

[205lad]

obob said:

its not a recession as we're not experiencing negative growth.

Surely that depends how you measure negative growth and define a recession?

By the twisted standards we see applied at the moment then technically you're correct.

[JonRB]

I for one am glad that the media are still calling it a "credit crunch". I hold them mostly responsible for the loss of consumer confidence that is pushing us towards recession and if they start using the word "recession" then it will get even worse.

[Fittster]

Psst. It's really a currency crisis.

[Mikeyboy]

obob said:

its not a recession as we're not experiencing negative growth.

true, but according to whose figures?

[obob]

205lad said:

obob said:

its not a recession as we're not experiencing negative growth.

Surely that depends how you measure negative growth and define a recession?

By the twisted standards we see applied at the moment then technically you're correct.

A recession is when the size of the economy falls for 2 consecutive quarters, at the moment it is still growing although at a slower rate.

[rsv gone!]

Fittster said:

Psst. It's really a currency crisis.

And feck, is it a crisis!!? Pound may be strong against the dollar but the pair are very weak against the rest of the world.

[Howitzer]

More of a monetary snafoo

Dave!

[tigger1]

Howitzer said:

More of a monetary snafoo

Dave!

A "Governmental bk-dropping of the highest order" is what I'd term it as

[205lad]

obob said:

205lad said:

obob said:

its not a recession as we're not experiencing negative growth.

Surely that depends how you measure negative growth and define a recession?

By the twisted standards we see applied at the moment then technically you're correct.

A recession is when the size of the economy falls for 2 consecutive quarters, at the moment it is still growing although at a slower rate.

Yes we know what the UK definition of a recession is, the point is that it's flawed.

[JohnLatham]

Fittster said:

Psst. It's really a currency crisis.

Elaborate, please.

[xiphias]

JohnLatham said:

Fittster said:

Psst. It's really a currency crisis.

Elaborate, please.

It's when you go on holiday and you find you've been given zlotys instead of rubles.

[1]

Jasandjules said:

Typical Nu Laba bull***t to change the words of something to sometihng which doesn't sound so bad.

Wasn't it the media who first used the phrase?

[SpydieNut]

JonRB said:

I for one am glad that the media are still calling it a "credit crunch". I hold them mostly responsible for the loss of consumer confidence that is pushing us towards recession and if they start using the word "recession" then it will get even worse.

too late i feel. the ball has started rolling.

batton down the hatches and hold on - it's gonna be a bumpy ride.

[obob]

205lad said:

obob said:

205lad said:

obob said:

its not a recession as we're not experiencing negative growth.

Surely that depends how you measure negative growth and define a recession?

By the twisted standards we see applied at the moment then technically you're correct.

A recession is when the size of the economy falls for 2 consecutive quarters, at the moment it is still growing although at a slower rate.

Yes we know what the UK definition of a recession is, the point is that it's flawed.

Well what would you call a recession?

[siscar]

205lad said:

obob said:

205lad said:

obob said:

its not a recession as we're not experiencing negative growth.

Surely that depends how you measure negative growth and define a recession?

By the twisted standards we see applied at the moment then technically you're correct.

A recession is when the size of the economy falls for 2 consecutive quarters, at the moment it is still growing although at a slower rate.

Yes we know what the UK definition of a recession is, the point is that it's flawed.

No recession is a term used in economics to describe an economic performance where an economy shrank for two quarters. It's not a UK term and it's not flawed. If that isn't what you mean then use another word or phrase.

[JohnLatham]

Economics is personal. It's a cliché, but a downturn is when your neighbour loses his job, and a recession is when you lose your job.

[siscar]

Away from the housing market - which was grossly overvalued and long overdue for a correction - how bad actually is it? I run a business employing 50 people and selling into two different b2b markets and we are doing OK (so far!). I made the mistake of going to Meadowhall a couple of Saturdays and couldn't move for people. So away from anything housing related are people hurting?