Should Osborne be moved on if we enter a Triple Dip recession tomorrow?
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Triple Dip
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Originally posted by proggy View PostShould Osborne be moved on if we enter a Triple Dip recession tomorrow?
By all means get rid of osborne but if you really want the debt wiped away you will not want to hear what would be needed.Let us not forget EU open doors immigration benefits IT contractors more than anyone -
Originally posted by proggy View PostShould Osborne be moved on if we enter a Triple Dip recession tomorrow?Comment
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Labour were having a moan yesterday that Osbourne's only managed a small decrease in the deficit. Of course these are the people that think trying to reduce the deficit is the wrong approach.
Triple dip means we've at least had some growth. Would a single long dip have been better?Will work inside IR35. Or for food.Comment
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Originally posted by proggy View PostShould Osborne be moved on if we enter a Triple Dip recession tomorrow?
Osborne set great stall by having the mess cleared within four years, and we're further away than ever. He said that the gold standard of his economic policies was reflected in Britain keeping the triple A rating, and then said it didn't matter when we lost it.
The idea that his policies are working in any way is laughable.
The problem is that there is no-one else in the frame to take over.Comment
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Plan A is working fine. We are adjusting to living within our means. The length of time it is taking is showing just how Tuliped we were previously. Normally the debt would be inflated away, however Globalisation is preventing this this time around.
Anyway, under the Coalition double dip we are down about 1%. Labour managed -6.7% in one quarter.Comment
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Originally posted by GB9 View PostPlan A is working fine. We are adjusting to living within our means. The length of time it is taking is showing just how Tuliped we were previously. Normally the debt would be inflated away, however Globalisation is preventing this this time around.
Though seeing as the Conservatives are taking the political kicking anyway, I wonder if they'd be better of just doing austerity properly. Just cut the deficit to zero starting tomorrow, and say "tough" to all the moaners. It's what Thatcher would have done.Will work inside IR35. Or for food.Comment
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The country is still adjusting to the fact that we are simply not as rich as we thought we were.
The economic growth during Labours years in office were based mainly on debt.
The average UK household debt is approximately £6k excluding mortgages ( £55k with mortgages ).
The credit bubble has burst and it's not coming back. Not in the next couple of decades anyway. it will come back when everyone has forgotten.
Growth or rampant inflation is required to resolve the problem.
Inflation is hugely damaging.
Growth takes a long time when there is little to grow. It takes years of patient investment in education, the business environment, science and infrastructure.
The current state of the economy is the new normal.Comment
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Originally posted by VectraMan View PostHow do you know it isn't exactly this policy that's responsible for the quarters of growth?
Originally posted by VectraMan View PostThough seeing as the Conservatives are taking the political kicking anyway, I wonder if they'd be better of just doing austerity properly. Just cut the deficit to zero starting tomorrow, and say "tough" to all the moaners. It's what Thatcher would have done.
Alternatively, the simple way to erode the debt is to devalue the pound, but that isn't being mentioned.Comment
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Originally posted by tomtomagain View PostThe country is still adjusting to the fact that we are simply not as rich as we thought we were.
The economic growth during Labours years in office were based mainly on debt.
The average UK household debt is approximately £6k excluding mortgages ( £55k with mortgages ).
The credit bubble has burst and it's not coming back. Not in the next couple of decades anyway. it will come back when everyone has forgotten.
Growth or rampant inflation is required to resolve the problem.
Inflation is hugely damaging.
Growth takes a long time when there is little to grow. It takes years of patient investment in education, the business environment, science and infrastructure.
The current state of the economy is the new normal.Let us not forget EU open doors immigration benefits IT contractors more than anyoneComment
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