UK double dip recession inevitable

[Pawnless Endgame]

Yeah I don't understand it either. It's not like we've run out of resources. Sure, the population is going up but there is enough food to go around. The problem are those round little pieces of metal and pieces of paper. That's all it is (sounding like the opening chapter of Hitch Hiker's Guide To The Galaxy lol). I think we need to write the whole idea of money off and start again.

 

[Goates]

Surely the issue here is that deficit reduction should have been held off for a few more years. Cutting jobs and reducing the deficit in times of growth is fine but now where facing another recession and we are in even worse shape than we were in 2008. The government should have been encouraging growth not taking thousands of jobs away from the public sector increasing unemployment and taking youth unemployment to over 1 million.

 

[bhavv]

I think we need to write the whole idea of money off and start again.

I would like if this could happen.

I simply dont understand money, its just coins and paper which I would rather throw away for shiny things like PC components ....

Oh wait, thats what money is for, but the system is a lie!

 

[anything I don't mind]

I thought the bank bailouts was to prevent an economic disaster and there was those saying it would only delay the inevitable. I read recently that the government plans to spend loads of money and create jobs on some projects. Well what happens when those projects are over? This is not a long term solution. The government again is right in the middle of it and is only making it worse and the BOE as well with its quantitative stimulus injections.

If the keynesians are obsessed with stimulating the economy why don't they give the tax payers two months off paying taxes. That would be a £1500 boost to the average worker that could go to paying off debts or saving or spending. This would realy stimulate the economy and if they were serious about stimulating the economy they would reduce the VAT back down from the "temporary" 20% as promised. But realisticly we all know that it is not about stimulation the economy it is about spending other peoples money and getting more of it. they want to grow the size of the government more and more and this will cause an economic disaster.

 

[[TW]Fox]

I'm sure the media will help it on its way towards another recession. Many people have money - they just wont spend it because the media is telling everyone that we are all doomed... it becomes a self fulfilling prophecy.

Never mind, perhaps we can continue winding Iran up so that this time the recession is accompanied by high oil prices to really 'aid' the recovery. Damn, I'm starting to sound like the anti-everything brigade

 

[godinman]

I think there are people that do understand it, but nobody listens to them. Largely because they don't want to. Because they're saying that we're ****ed. No amount of tax increases or austerity measures can save us, trying to do so is just small beans. If we borrowed nothing and spent our entire GDP on paying back debt for five whole years we'd still be in debt.

Inevitable is a good word. Maybe it's a consequence of us being in a situation where there is far more debt in the world than actual money.

We don't need to pay back our debts, we just need to be able to make the repayments each month (or however it works) while still having enough money left to pay for all of the stuff we need.

 

[cainer]

why don't they give the tax payers two months off paying taxes. That would be a £1500 boost to the average worker that could go to paying off debts or saving or spending. .

i doubt the average worker pays £750 a month in tax

 

[anything I don't mind]

The average salary is about £26k i think, well it is in london. I read that somewhere. At 26k you will pay about £750 tax, including income tax, national insurance, council tax, VAT. it is probably more.

http://www.thesalarycalculator.co.uk/salary.php

It is about £500 income tax and NI.

 

[Cosimo]

That reception thing is brilliant.

I wouldn't go that far. It's nothing special.

 

[godinman]

I wouldn't go that far. It's nothing special.

U jelly?


(Did I do that right?)

 

[D.P.]

Maybe the govnt shouldnt have thrown all its money away on foreign aid, nor on pointless schemes such as useless crime prevention stickers to every household which read 'Warning! This property is postcoded.'

Whoopadeedoo, like thats going to stop a thief.

and for sheer stupoidity have another

I swear there should be an IQ test before one can vote. Statements like the above make me dispair for humanity.

Foreign aid amunts to pocket change inn the grand scheme of things and has real and significant effects. Or do you think saving lives is a waste of money?

 

[slambo69]

and for sheer stupoidity have another

I swear there should be an IQ test before one can vote. Statements like the above make me dispair for humanity.

Foreign aid amunts to pocket change inn the grand scheme of things and has real and significant effects. Or do you think saving lives is a waste of money?

Have you seen the countries we give it to? Most of the money probably causes death.

 

[elmarko]

I think people do understand it, but they are same ones who are causing much of it by speculating and manipulating markets etc....

As much as it pains me to agree with Cas, this pretty much.

It's not exactly complicated, just market abuse is rife.

 

[D.P.]

Surely the issue here is that deficit reduction should have been held off for a few more years. Cutting jobs and reducing the deficit in times of growth is fine but now where facing another recession and we are in even worse shape than we were in 2008. The government should have been encouraging growth not taking thousands of jobs away from the public sector increasing unemployment and taking youth unemployment to over 1 million.

No, I think part of the problem is cost cutting measures weren't taken significantly earlier than the recession. Even in the boom years we were spedning far to much and increasin debt instead of reducing it/increasing reserves. You can in part thank the Labour party for that economic genius. Not saying we wouldn't have issues with conservatives in power for the last 15 years but almost definitely the debt problems would be somewhat smaller.

 

[PondPikey]

and for sheer stupoidity have another

I swear there should be an IQ test before one can vote. Statements like the above make me dispair for humanity.

Foreign aid amunts to pocket change inn the grand scheme of things and has real and significant effects. Or do you think saving lives is a waste of money?

Any country that has a space program and nuclear deterent should NOT be getting any money!

I say cut taxes, give the working man on the street more money to spend. Thats how they did it in Hong Kong or something to that effect.

 

[D.P.]

Any country that has a space program and nuclear deterent should NOT be getting any money!

I say cut taxes, give the working man on the street more money to spend. Thats how they did it in Hong Kong or something to that effect.

IF you are talking about Inida we exploited them royaly (pun perhaps intended) through colonisation. The small recent aid payments are token jestures, and there stands a lot to win with improved reations.

 

[joeyjojo]

I dont get the reception joke

It's also reminiscent of the way "irony" on this board is often substituted for "ironing", as in "oh the ironing".

 

[Dolph]

Surely the issue here is that deficit reduction should have been held off for a few more years. Cutting jobs and reducing the deficit in times of growth is fine but now where facing another recession and we are in even worse shape than we were in 2008. The government should have been encouraging growth not taking thousands of jobs away from the public sector increasing unemployment and taking youth unemployment to over 1 million.

the issue is that the deficit reduction hasn't been done fast enough, not that it should have been held off (that's what they did in Europe and the US and they are in a worse situation than we are).

We also need actual cuts in public spending, not just a slowing of the rise, to stop the problem of the public sector crowding out the productive economy.

of course, it would have been better if Labour had shown any form of fiscal responsibility during the boom which would have prevented the public spending crisis in the first place...

Employing people who are not productive just to massage the figures doesn't work, it just causes the problems to stagnate and prevents innovation, especially when combined with an excessively generous benefit system that provides a massive barrier to work due to a high withdrawal rate.

 

[Vonhelmet]

IF you are talking about Inida we exploited them royaly (pun perhaps intended) through colonisation. The small recent aid payments are token jestures, and there stands a lot to win with improved reations.

India's incredible levels of inequality are ingrained in their culture through things like the caste system. Any damage we did with the empire is minimal in comparison, and likewise any aid now.

 

[v0n]

Lower VAT to 15% for five years, freeze fuel duty to maintain prices at £1.20 for petrol and £1.10 for diesel. Suspend all road tolls in the country. Impose public transport price freeze where cost per mile of train journey cannot cost more than equivalent travel in 40 mpg car. Nationalise channel tunnel and price all crossings at £10. Any train company to organize cheap truck-over-rail policy gets to keep 100% money from those tickets tax free. Foreign trucks and spedition from outside of EU from today must buy road use permit at £500 a month (different colour every month) they must display at all times.

Anyone currently on benefits for more than 12 months and without disability gets bright yellow jumpsuit and must join Benefit Payback programme. We are going to get you to sweep public roads, clean council parks, paint NHS walls and fences, wash sheets in elderly care homes, anything that will help us fill several billion large hole in finances. Or you find a job. We'll lower business tax for anyone who employs you from the benefit pool and keeps you for 12 months. Prisoners will now work for their "luxuries". If you have to press registration plates or do hospital laundry to keep your TVs and playstations - so be it. In addition, let's rejiggle few things - no more child benefits - breeding shouldn't be a way to improve your lifestyle. Instead anyone who doesn't cause burden on public finances - households over 40 that choose not to have kids, get that money instead. If you don't use NHS for a year, don't use public schools, don't claim fuel allowance or anything else - you'll get 2% tax rebate at the end of financial year.

This should jump start consumer side of economy, no?