[Closed] Double dip recession

anagallis_arvensis: apologies, I should have written "not funded by the council" and not private sector.

that still wouldnt fit the point you wete making.

Apart from quadrupling in value in the last 10 years.

Clearly, it was spectacularly bad timing, but needs to be put into persepctive.

1. Brown couldn't have predicted 9/11 and the war on terror, which caused people to invest in gold as a safe haven, thus inflating its value.

2. The net loss to the UK (taking into account returns on investments from the sale of that gold) is thought to be around £9 billion. That's less than 0.01% of our national debt, and about 7% of the annual budget deficit.

[i]Your ignorance and confidence levels are still well out of alignment. [/i]

Ha !

Everytime I see your user name, I see the word [i]Anus[/i]

😆

3. but 2x the loss in reserves resulting from Black Wednesday

So let's put both events in the "irrelevant" bin then???

The critics of gold selling all forget the extra monies brought in from bidding for 3G licenses.

THM:

I recall asking an official at the time whether it was true that we had spent most of the reserves. 'Most?' he replied, with the clear implication that we had lost the lot. In fact the Bank of England, on instructions from on high, sold $28 billion of reserves on Black Wednesday alone, making the loss in August and September nearly $40bn. We not only lost the lot, we borrowed a further $16bn.

Although the loss of all the reserves (and net borrowing) qualifies as Wildean carelessness, there was also the little matter of selling the reserves cheap and buying them back more expensively after sterling's decline.

http://www.guardian.co.uk/business/2005/feb/13/economicpolicy.comment

?

Everytime I see your user name, I see the word Anus

thats because you cant see me, i'm here there and everywhere.

So I am still missing how Gordon Brown selling the gold reverses a decade ago caused the global recession. Actually could someone explain how the entire worldwide economic meltdown was his fault? As this is what's implied over and over again by Tory HQ

I would ask Cameron, but I don't have a spare 250K lying around.

As for gold increasing in price by fours times, I don't think its the only material to do this, as that's global inflation and supply and demand isn't it? Or it Gordon's fault that copper has quadrupled in price as well?

Good point grum. My comments came from BoE a well (but I was sloppy and didn't x-check). I must have made an error there. Good spot - you got me. 😉

[i]thats because you cant see me, i'm here there and everywhere. [/i]

Mostly, I find you're up your own ass.

Which makes your claim to be a certain hue of scarlet, quite amusing.
Possibly more a shade of stercore ?.

You may think everyone is ignorant, but you are colour blind.

😆

At least i keep my ramblings to things i know something about. You on the otherhand have talked absolute rubbish twice that i've noticed and i habe very little clue what most on this thread are talking about. I just tell it like i see it and you are just plain wrong.

[i]So I am still missing how Gordon Brown selling the gold reverses a decade ago caused the global recession. Actually could someone explain how the entire worldwide economic meltdown was his fault? As this is what's implied over and over again by Tory HQ[/i]

Its just a Troll thread, started by one of our oldest, sadest, Trolls.

As much as lefties want to defend Labours' record of the past decade.
As the old saying goes:

You can't polish a Turd.

So while the Cons try to anyway.

Lefties complain that all hasn't been put right in just 24 months or so.

Yes, of course, the lefties have earnt their title of [i]Looney[/i].

Never being satisfied with anything less than Labour being in No 10.
No money remaining in the kitty ( as admitted by one departing labour chappy in the treasury )
And everyone working for the public sector and reeling in nice pensions and salaries.

[i]and you are just plain wrong[/i]

Aww. I had hoped you'd have gone on for a little longer before capitulating.

This thread is just rubbish.

Even the sad 50 something, TJ, has now realised that he's got to get this stuff in now, before the Cons manage to turn things about.

cos then he will be flamed.
Oh yes, he will be flamed.
😉

Never being satisfied with anything less than Labour being in No 10.

i think just a bunch of effete torys out to enrich their chums not being there would do

Solo - nowt to do with defending Labours record - you will note its only the toryboys attacking labour on this thread to divert attention from the disaster that Is Gideon. You are doing this as well. Can't defend the tories - attack labour.

Its very simple - since the election the UK economy has got worse - the rest of the G7 have got better. Tory policies are not reducing the debt - they are increasing it. Its not working. Tax receipts down, benefit bill up, deficit up, debt up,inflation up. a recipe for what?

Even the sad 50 something, TJ, has now realised that he's got to get this stuff in now, before the Cons manage to turn things about.

Oh oh oh - how are they going to do that then? Please tell us

[i]i think just a bunch of effete torys out to enrich their chums not being there would do[/i]

What, as opposed to Tony, drenched in blood and making hand over fist to inflate his own personal wealth and make his mates [s]anyone with a cheque book[/s] [i]Lord[/i]

come on solo - please let us know how your beloved tories are going to turn this all around?

What a strange man you are, TJ. If you were to put half the effort you have expended here in to something worthwhile, you'd be fêted as some sort of saint. And yet you choose to wibble on about it on some obscure bike forum.

Odd. Very odd.

[i]Oh oh oh - how are they going to do that then? Please tell us [/i]

Thats right TJ, go for it now.
Fill yer boots.

Still, as you are, you hate change and would have just carried on regardless.

Go on.
Tell us how GB was on the radio and when asked about our mahoosive debts.
His reply was that we're not in as much debt as Japan !!!.

WoooHoo !, praise be.

He hadn't spent it all up just yet, and was planning to spend some more.

I liked the comment earlier about how little it costs us to borrow, compared to, Greece, I think it was.

Can anyone explian this ?, anything to do with the cuts, anything to do with reigning in the spending ?.
Perhaps the bond buyers don't charge us as much as we appear to be taking the pain ?.

Looney left, always were, always will be.

[img] [/img]

As a Labour sympathiser/economist stated this morning, most probably [i]in the long run[/i] by the current mix of monetary and fiscal policies (edit: and in the same way as any other party would) Given that his (Gavin Davies) approach is going to be very close to Ed Ball's, the give away is in the last two lines

Maybe I am being excessively stubborn, but I have not completely given up on the UK’s chosen policy mix just yet.

But anyone who thinks it will be a quick fix [b]whoever is in charge [/b]is deluded.

CFH - not a lot of effort really 🙂

I have had 3 hrs sleep, organised some house repairs, been to the shops and done a whole load of other stuff today since strting this.

its like shooting fish in a barrel simples 🙂

Solo / teamhurtmore - come on chaps -how are your beloved tories going to get us out of this mess?

Solo - nice diversionary attack on labour there - but lets hear how the torys are going to get us out of this mess.

I disagree, you [b]are[/b] wasting a lot of time and effort on this and you aren't shooting any fish. In fact, you're just wibbling along with your same dogmatic claptrap. Take a look at the sheer number of posts you've made on both this, and any of the numerous, equally dull religion threads. Time and effort. All utterly pointless. As is this post, I suppose. Oh, the irony, etc.

Insanity: doing the same thing over and over again and expecting different results

CFH - its not a lot of time and effort. It really isn't.

TandemJeremy - Member
its like shooting fish in a barrel simples

So you make posts simply to "shoot down" anyone who replies for your own amusement, how so very sad.....

[i]But anyone who thinks it will be a quick fix whoever is in charge is deluded.[/i]

Perhaps.
But at least one side seeks to fix it.
As opposed to just continuing with the problem.

Furthermore.
TJ, your " Tory boy " burr, stuck so firmly in your ass.

Its pityful stuff really.

A different perspcetive would illlustrate that some of the social aspirations long associated with the left, are actually admirable and worthy.

The frustrating thing with the left is that they let us all down in their attempt to realize their social agenda, by being fiscally inept.

Aww. I had hoped you'd have gone on for a little longer before capitulating.

you'd have to say something that wasnt just massively wrong in order to start a proper discussion. Keep trying though monkeys and typewriters and all that.

[i]CFH - its not a lot of time and effort. It really isn't. [/i]

Public sector worker TJ ?.

[i]you'd have to say something that wasnt just massively wrong in order to start a proper discussion. Keep trying though monkeys and typewriters and all that[/i]

Now whos wrong ?.
😉

Your are class, very amusing.
Well done.

😆

The interesting variable will of course be £. Many countries have adopted a "hidden" devaluation policy (QE) including us (reflected in our weaker inflation record) while the poor old PIGS remain encumbered with an over-valued currency and uncompetitive wage structures. If the Euro collapses in a disorderly fashion, all gloves may well be off and the outlook becomes much less uncertain.

Otherwise, its pretty clear what will be done.

Solo - so please let us know how they are going to fix it

Simple question. No attack on me personally or Labour please - just let us know how the Tories are going to fix this mess?

TandemJeremy - Member
...its not a lot of time and effort.

post history may suggest otherwise 😆

teamhurtmore
Otherwise, its pretty clear what will be done.

Oh good - let us know will you?

[i]Oh oh oh - how are they going to do that then? Please tell us [/i]

Just re-read that.

I think you've just demonstrated to the world, the extent and the limit of your intelligence.

Oh dear.
😯

but lets hear how the torys are going to get us out of this mess.

They'll employ Jesus - he's the only bloke who can perform the sort of miracles that you expect.

The other sneaky thing they (governments) will do is maintain a long period of financial repression - ie interest rates below inflation/GDP, so screwing pensioners and savers even more.

So TJ - Getting us further (if that's possible) into debt would have been good? Really?

Face up to the facts - we've all been living off too much debt for far too long, we've had the good times, now for the bad. The recession is global, and coincided with Labour being in power, so does that make it Gord's fault? I don't see it as a big problem the double dip, more inevitable. The knock on effect of redundancies, higher living costs and less disposable income, it takes time for the effect of a recession to be felt fully, hence the 'double dip'.

As for Gideon - Live within your means is a good idea, not convinced they are doing things 100% right, but with public sector salaries through the roof, and pensions agreed over the years with unions not having the foresight to think of the future things were bound to **** up.

I personally would never vote for a party that p*ssed all the money up the wall with unsustainable spending, and then when they knew they were going to lose power spent every bit left and even left post it's to the effect - what kind of half witted attitude is that?

Gp's on £70 - £100k? Tube drivers on £50k, bloody hell even up here in Shropshire the average wage at the secondary school I attended is £42k for a 3 week month - is that really all sustainable when the average wage is much more around low twenties? Nope.

Being self employed I have managed to survive a 84% pay cut in the last 3 years, have no pension, and work on average 65hrs a week. Think I have any sympathy for anyone on more than £30k - nope - tax em to **** and back. Seems to me at the moment labour like to say tax the rich - ok then so tax anyone who is rich - £30k plus, but they won't hit all the civil servants will they?

Rant over

Now whos wrong ?.

i have no idea what your on about. If you have a point your trying to make its lost on me.

Keep trying though, everyone loves a trier.

Its only a very minor change. Headlines on r4 tonight....."economy is back to where it was in autumn 2010". well whoopee doo, thats hardly news. OK minus 0.2 is recession plus 0.1 is growth, but they are both within a rizla paper of knack all.

The economy needs to create jobs that bring in money from outside the UK thats the only way we will grow out of this mess.

It will be 2014 before the shoots of recovery start to look good for the coalition. Gordo and Balls took us into this mess with a zeal not seenin most other countries, its bound to be unpopular getting the country back onits feet.

[i]Simple question. No attack on me personally or Labour please - just let us know how the Tories are going to fix this mess?[/i]

As above, you are incapable of understanding.

Putting it in simple terms, you still won't see it or agree.
Mentally, you've hit the buffers and for you there is no overdraft.

Spending will be brought back to a manageble level.
People who had it easy in the public sector will have to either shape up or ship out and....... dare I post it......
Work in the private sector !.
And lots more.

So TJ, are you a public sector worker ?.

Spending will be brought back to a manageble level.

So not platitudes please saying " this will happen

HOW?

I am quite capable of understanding if you would deign to tell me what the policies will be that will do it.

at the secondary school I attended is £42k

Thats quite high, national average is around 34 i believe.

Average wage is much higher than 20k though.

Insanity: doing the same thing over and over again and expecting different results

See what I did there?

Work in the private sector !.

oh thats right the private sector is expanding to hoover up all the wasteful public sector workers whove been made redundant

hows that going again?

you also forgot tax brakes for the very richest , letting vodafone off their taxes, selling off the nhs, privatising education, police, etc oh and pimping out cameron at 250k a time to loan sharks, cab drivers, oil companies,, foreign hedge funds, rupert murdoch............ oh yeah inventing fuel crisis thats a good un