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The Spending Review (tackling the Socialists debt mountain)


dune

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  • 1 month later...
Warned you at the time it was a 'kin dumb thing to say.

 

I still think that we are past the worst and that the markets are over reacting. What is very pleasing is that the UK growth figures are slightly better than most industrialised nations and we have made some brilliant cuts.

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  • 5 months later...
But it hasn't.

 

Much in the same way that Pompey aren't insolvent.... ;-)

 

http://www.bbc.co.uk/news/business-16699807

 

IMF: Global economy 'in danger zone' over euro crisis

 

Jose Vinals, IMF: "A failure to address underlying tensions could precipitate a global crisis"

 

The world's economy is "deeply into the danger zone" because of risks from the eurozone, the International Monetary Fund (IMF) has said.

 

ostrich_head_in_sand.jpg

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Isnt this row all a bit synthetic? Britain's economy will likely overall grow a little in 2012 and 2013 having dipped in the first quarter. We will grow much less than most countries outside of Europe but more than most european nations, after lagging behind them in 2011. Its lower middle of the pack stuff. Not good but not really enough for a massive calls of 'we were right you were wrong' on either side.....

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Isnt this row all a bit synthetic? Britain's economy will likely overall grow a little in 2012 and 2013 having dipped in the first quarter. We will grow much less than most countries outside of Europe but more than most european nations, after lagging behind them in 2011. Its lower middle of the pack stuff. Not good but not really enough for a massive calls of 'we were right you were wrong' on either side.....

 

According to today's IMF forecasts (which admitedly change more frequently than Lawrence Lewelyn-Bowen decorates a bedroom), the UK economy will grow at about the same rate as the USA and Canada over the next two years but faster than all other EU countries (including Germany).

 

Arguably as good as it can get in the circumstances....

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According to today's IMF forecasts (which admitedly change more frequently than Lawrence Lewelyn-Bowen decorates a bedroom), the UK economy will grow at about the same rate as the USA and Canada over the next two years but faster than all other EU countries (including Germany).

 

Arguably as good as it can get in the circumstances....

 

Not really. According to those predictions the UK will grow by 2.6% over the next two years, compared with 3.7% for Canada, 4% for the US and 7.2% average for the rest of the world. True, the eurozone will be slow (but not Scandinavia or Switzerland), but they were much faster than us in 2011 - so overall, as I say lower middle of the pack imo.

 

nb we should all actually look at GDP growth per capita because simple GDP growth can be deceptive. The US and UK have growing populations whereas countries like Germany, France and Italy have static or falling populations.

Edited by buctootim
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NEW012412A-1.gif

 

Exactly! So India has to somehow scrape by with a growth rate of 7% this year, China 8%, 'Developing' Asia 7.3% Russia 3.3%, Mexico 3.5%, Sub-Saharan Africa (!) 5.5%, etc, etc. Are you REALLY trying to suggest that they are all - and many others besides - part of a 'global' recession?

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First they came for the Jobless

And I did not speak out

Because I had a job

Then they came for the elderly

And I did not speak out

Because I was not elderly

Then they came for the trade unionists

And I did not speak out

Because I was not a trade unionist

Then they came for the Disabled

And I did not speak out

Because I was not disabled

Then they came for me

And there was no one left

To speak out for me

 

I do hope pastor Martin Niemoller will forgive me but just a couple of words needed to be changed and oh look....doesn't it look strikingly familiar?....Lord Halifax and the rest of his tory cronies wanted to strike a deal back then too :s

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First they came for the Jobless

And I did not speak out

Because I had a job

Then they came for the elderly

And I did not speak out

Because I was not elderly

Then they came for the trade unionists

And I did not speak out

Because I was not a trade unionist

Then they came for the Disabled

And I did not speak out

Because I was not disabled

Then they came for me

And there was no one left

To speak out for me

 

:lol:

 

We are the Tories, we do what we want.

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Exactly! So India has to somehow scrape by with a growth rate of 7% this year, China 8%, 'Developing' Asia 7.3% Russia 3.3%, Mexico 3.5%, Sub-Saharan Africa (!) 5.5%, etc, etc. Are you REALLY trying to suggest that they are all - and many others besides - part of a 'global' recession?

 

Yes, because their forecasts are being revised down. Yes, they start higher but they are falling at relatively the same rate as the likes of ourselves, USA, etc.

 

Try throwing a cat out of the window from several different skyscraper floors and see which direction it goes in. (you may need more than one pussy for this experiment)

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I have indeed...do we know how subjective in nature these opinion polls are? besides; the labour drop is clearly due to Milliband being obviously unelectable...kinda like Duncan Smith, Haugh and old Vampire features...come on, how long did it take you lot to return after the complete drubbing you took in '97? and no "drubbing" happened at the last election thank you.

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I have indeed...do we know how subjective in nature these opinion polls are? besides; the labour drop is clearly due to Milliband being obviously unelectable...kinda like Duncan Smith, Haugh and old Vampire features...come on, how long did it take you lot to return after the complete drubbing you took in '97? and no "drubbing" happened at the last election thank you.

 

And now it's our time...

 

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Yes, because their forecasts are being revised down. Yes, they start higher but they are falling at relatively the same rate as the likes of ourselves, USA, etc.

 

Try throwing a cat out of the window from several different skyscraper floors and see which direction it goes in. (you may need more than one pussy for this experiment)

 

I wouldn't mind too much if we were in a recession of 7% growth.

 

Why am I not surprised that a banking sector worker doesn't grasp the definition of recession?

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And this is precisely what we want them to do. Have you checked the polls lately? If you do I hope you'll be as delighted as me to see that measures such as cutting benefits are popular.

 

All in good time.

 

Anyway, why are we now £1tn in debt? I thought tories policies and cuts were reducing it?

 

Oh, it isnt working!

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All in good time.

 

Anyway, why are we now £1tn in debt? I thought tories policies and cuts were reducing it?

 

Oh, it isnt working!

 

It would have been a lot higher without the Tory intervention so it is a reduction in relative terms...

 

Cue the predictable Trousers put down from Mr V... ;-)

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So cutting as fast as we have has led to less growth and greater unemployment, so lower tax receipts and more borrowing, £158bn more borrowing. More borrowing infact, than Labours original plan!

 

But of course, we have no idea how Labours plan would have turned out anyways. What makes me laugh though is that when it went tits up under Labour, and they rightly put a lot of the blame on the world financial collapse, the Tories wouldn't have it. Now it's going tits up under Conservatives, and they are rightly placing some of the blame on the world economy(specifically the eurozone), Labour won't have it. Bunch of hypocrites. We have to accept in a Globalised world capitalist system, there is little we can do sometimes. However, we can alter our fortunes slightly within a spectrum and in my opinion the Coalition spending plan is a bit too much, too fast for optimal deficit cutting... as the IMF are now realising, and so advising us to perhaps considering some slowing down in the cutting.

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So cutting as fast as we have has led to less growth and greater unemployment, so lower tax receipts and more borrowing, £158bn more borrowing. More borrowing infact, than Labours original plan!

 

But of course, we have no idea how Labours plan would have turned out anyways. What makes me laugh though is that when it went tits up under Labour, and they rightly put a lot of the blame on the world financial collapse, the Tories wouldn't have it. Now it's going tits up under Conservatives, and they are rightly placing some of the blame on the world economy(specifically the eurozone), Labour won't have it. Bunch of hypocrites. We have to accept in a Globalised world capitalist system, there is little we can do sometimes. However, we can alter our fortunes slightly within a spectrum and in my opinion the Coalition spending plan is a bit too much, too fast for optimal deficit cutting... as the IMF are now realising, and so advising us to perhaps considering some slowing down in the cutting.

 

Cut cuts cuts, that's all we hear about, but I haven't noticed any that affect me. I've had a pay rise in line with inflation every year too. I think some people just like to complain for the sake of it.

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Cut cuts cuts, that's all we hear about, but I haven't noticed any that affect me. I've had a pay rise in line with inflation every year too. I think some people just like to complain for the sake of it.

 

Well, other people are feeling them. Obviously you are lucky to be in a stable environment, but the cuts are hurting a lot of people, but they are necessary... but I just think they could be done slightly differently, perhaps a bit more tax rise, a bit less cutting. A bit more stimulus...

 

I'm quite lucky too that I am going to Uni next year and already have a job for this year, and my Dad's job is stable... though my Mum is starting to get less work as a Teacher... but really, so far bar a few cut backs like no foreign holidays(yes, I know... POOR ME - sarcasm btw), a few less luxuries, the recession hasn't really hit me personally too much. I am very lucky in that respect... as you seem to be too. But I know people who are less well off who it is hitting harder... and I don't think we should forget about them just because we are lucky enough.

 

Out of interest Dune, don't feel you have to answer, but what sector of work are you in?

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Cut cuts cuts, that's all we hear about, but I haven't noticed any that affect me. I've had a pay rise in line with inflation every year too. I think some people just like to complain for the sake of it.

 

Well your lucky your dole money has not been cut but at least you can buy a nice cheap bottle of basics whisky to keep you warm.

 

Sent from my HTC Desire using Tapatalk

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So cutting as fast as we have has led to less growth and greater unemployment, so lower tax receipts and more borrowing, £158bn more borrowing. More borrowing infact, than Labours original plan!

 

But of course, we have no idea how Labours plan would have turned out anyways. What makes me laugh though is that when it went tits up under Labour, and they rightly put a lot of the blame on the world financial collapse, the Tories wouldn't have it. Now it's going tits up under Conservatives, and they are rightly placing some of the blame on the world economy(specifically the eurozone), Labour won't have it. Bunch of hypocrites. We have to accept in a Globalised world capitalist system, there is little we can do sometimes. However, we can alter our fortunes slightly within a spectrum and in my opinion the Coalition spending plan is a bit too much, too fast for optimal deficit cutting... as the IMF are now realising, and so advising us to perhaps considering some slowing down in the cutting.

 

Agree with a lot of what you say there. People conveniently forget that Labour planned to cut at pretty much the same rate as the Tories. For every £18 of 'Tory cuts' Labour had planned to cut £17 (or thereabouts).

 

So they are being a tad disingenuous and opportunistic when painting a picture that suggests their cuts would have been far less severe.

 

Alastair Darling's speeches and interviews just before the general election are revealing.

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Agree with a lot of what you say there. People conveniently forget that Labour planned to cut at pretty much the same rate as the Tories. For every £18 of 'Tory cuts' Labour had planned to cut £17 (or thereabouts).

 

So they are being a tad disingenuous and opportunistic when painting a picture that suggests their cuts would have been far less severe.

 

Alastair Darling's speeches and interviews just before the general election are revealing.

 

Are Labour still with the Darling plan? Or has Ed Miliband abandoned that? Or are we still at the 'Blank Page' on this...

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I will point out however; a lot of my zealous labourite friends will point out ATOS as an "evil" private company used to assess claims for incapacity benefit and ESA and they do blame the conservatives for this problem (it's a problem when 40% of their rejected "fit to work(s)" appeal and win their case) but in fact Labour hired them in....unfortunately the tories have found this to be a spiffing plan and are going to use them even more :s

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