UK still in recession

ELCaD · 10-23-2009, 03:47 AM

Figures released today show the UK economy is still in a recession having shrank by 0.4% in the last quarter despite predictions by 'experts' that the economy would grow by 0.2%

So, very merry Christmas for everyone I guess...

source: http://www.dailymail.co.uk/news/arti...#ixzz0UkRQ1OTd

faybank · 10-23-2009, 04:05 AM

Well , I think almost all countries is in recession...

But situation in UK is much better then in island, Baltic, Russ Fed and so on!
So , I'm not worried about it

ELCaD · 10-23-2009, 04:22 AM

Quote:

Originally Posted by faybank

Well , I think almost all countries is in recession...

But situation in UK is much better then in island, Baltic, Russ Fed and so on!
So , I'm not worried about it

Sure, there are places that are worse off than the UK but if you consider the fact that both France and Germany exited the recession earlier in the year then things don't appear quite so rosey in the UK.

faybank · 10-23-2009, 04:43 AM

France and Germany government's invested lot of money in there economics, so gave % in growth. I'm not sure, that they have that good situation they say.

And yes, this winter may be won't be easiest...

donphant · 10-23-2009, 05:09 AM

If its not the recession is something else.
I heard on the news that UK energy prices are going up and people are stuggling to pay them. better start wearing the thick jumpers.

Jay D. · 10-23-2009, 05:19 AM

Not sure if you noticed, but half the world is in a recession.

nilesh.aus · 10-23-2009, 07:31 AM

USA has more problem.

ELCaD · 10-23-2009, 08:16 AM

Guys guys guys, I wasn't intending to turn this into any kind of reverse 'my country is better than yours' in the vein of 'my country is worse off than yours'

I posted this purely because in the UK there have been many so called experts claiming that we would be out of the recession and that the economy would grow which has been proven to be completely wrong.

Believe me I know that the whole world is struggling right now.

marshalprince7 · 10-24-2009, 11:16 PM

India is the country which is not in recession but I think it is affected equally too. People are not getting jobs here too and are fired by a huge quantity. Although there is no bankruptcy of companies, banks but economy is under control by US, UK and all.

So I think every country is suffering from this, hope this Christmas changes these scenario

**robjones** · 10-25-2009, 12:39 AM

ElCad... I'm starting to wonder how the experts ever got that label (in your country or any other). It's been a long time since the experts appeared to be more accurate than the "Magic 8-ball" I had as a kid, and they arent near as entertaining.

urstop · 10-25-2009, 03:35 AM

Yeah, I have read somewhere(maybe on the BBC news site) that UK will be out of recession sometime next month according to some official stats

icebreaker · 10-25-2009, 11:06 AM

I think U.K. has better economy than U.S. We are now to expect a positive growth according to the news. Although, the figure 0.2% economy growth is just an estimate for the third quarter, the British government is still optimistic that they will be out of recession soon.

AL Jones · 10-28-2009, 11:51 AM

Well the good thing about affiliate marketing is you can still make plenty of money in a recession.

andyllin · 10-28-2009, 08:27 PM

I also think so, Britain's influence is declining

sperez1983 · 10-29-2009, 01:07 AM

I think UK is not having a bad economy compared to US correct me if I'm wrong.

Natural Elements · 10-29-2009, 01:33 AM

Quote:

Originally Posted by ELCaD

Sure, there are places that are worse off than the UK but if you consider the fact that both France and Germany exited the recession earlier in the year then things don't appear quite so rosey in the UK.

The reasons that France and Germany exited the recession are simple. Both countries have a lot of social advantages so they can take more hit than countries like UK, US etc

If you followed the news, on the G20 meeting the US asked that many Europeen countries participated to inject more money on the system (central banks), their answer were reluctant because some europeen countries have all kind of social services to absord the economic crise.

For example in France when you are unemployed you can have your full salary for 2 years, the health insurance is paid by the unemployment benefit services, you can have reduction on transportation, you can create a micro company and start to make money and you are still paid by the unemployment benefits. You can get money from the governement to pay a part of your rent, you can even ask to the equivalent of IRS to forgive your income tax, etc

So with so many social advantages, countries like France, Germany and few others cannot see the necessity to inject mass money in the system to help banks, companies or people, that's why they are healthier.

anonymously · 10-30-2009, 06:03 PM

The US seems to have now moved out of recession but UK continues in. Probably because the Government has given all our money to Germany and other places through the car scrappage scheme, which benefited the UK not a lot.

More likely because, despite the Labour claims, the UK economy had been weakened in the last 10 years and Brown had not abolished boom and bust but presided over the biggest one we ever had with nothing kept in reserve. It's when they want my OAP back that I will really get worried, probably just after the election whoever wins.

edosauyi · 10-30-2009, 06:26 PM

Quote:

Well , I think almost all countries is in recession...

Yes, all countries are said to still be suffering from the reccession though some suffer it more than others, almost all countries are still battling out of it.

loenex · 11-05-2009, 12:01 AM

I guess everyone feels recession in every country. But what goes down will goes up.

NewMedia422 · 11-05-2009, 04:04 AM

Quote:

Originally Posted by ELCaD

Figures released today show the UK economy is still in a recession having shrank by 0.4% in the last quarter despite predictions by 'experts' that the economy would grow by 0.2%

So, very merry Christmas for everyone I guess...

source: http://www.dailymail.co.uk/news/arti...#ixzz0UkRQ1OTd

Well, when your country pays nearly half of their GDP in interest to the banks, of course you're gonna be in a recession. (I'm looking at you UK) USA isn't much better though, we pay about a third in interest.

EDIT: Notice I say interest, that doesn't include principal. And that "growth" doesn't even factor for inflation, which is also caused when the millions of bank employees spend the money they earned while producing neither a good nor service (and also caused by government jobs that don't produce goods, for example). People forget about inflation, but more importantly they forget about what causes it: not printing money (you could print a trillion dollars but if you don't spend it, there is no inflation of prices), but rather *spending* money when you didn't produce a good or service to deserve that money.

And the worst part of those gov statistics is that they count Goverment spending as a part of GDP. What a joke. So if the government prints a trillion and spends it, suddenly the GDP *grew* by a trillion. But in the *REAL* world, an economy is sustained by providing goods and services, not printing money and spending it.