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View Full Version : The U.K Slips Back Into Recession



Straight Shooter
2012-04-25, 22:25
The U.K is now in a double-dip recession. Anyone who knows anything about economics will tell you that this was predicted. Here in the U.S, had the GOP had their way and just drastically slashed the budget we would be in the same position
http://www.bbc.co.uk/news/business-17836624

Mayhem
2012-04-25, 23:45
The Brits need industrial hemp as badly as we do. Too bad it remains out of reach, in plain sight.

BlueBalls
2012-04-26, 07:16
I assumed this was old news? At least now it's official, I suppose.

AUSTERITY! :nanner:

Straight Shooter
2012-04-26, 23:05
I assumed this was old news? At least now it's official, I suppose.

AUSTERITY! :nanner:

Austerity has failed

BlueBalls
2012-04-27, 08:31
Austerity has failed

....as has the joke.

Sam Fisher
2012-04-27, 10:06
The Brits need industrial hemp as badly as we do. Too bad it remains out of reach, in plain sight.

And, the same could be said here in the U.S.

The Brits need oil as badly as we do. Too bad it remains out of reach, in plain sight. :yesyes:

Rey C.
2012-04-27, 15:12
The same thing is going to happen in the U.S. in Q1 of next year... if the President and Congress don't work something out before December 31, 2012.

'Fiscal cliff' threatens economy on Dec. 31, Bernanke warns Congress (http://www.csmonitor.com/USA/Politics/2012/0426/Fiscal-cliff-threatens-economy-on-Dec.-31-Bernanke-warns-Congress)


Ben Bernanke has often talked about the need for sounder budget policies in Washington, but the Federal Reserve chairman has ramped his message up a notch: Failure to take new action by the end of year, he said, would have negative effects on the economy that even the Fed couldn't offset.

The reason for his urgency is what some economic analysts call a "fiscal cliff" that awaits America on Dec. 31. Others call it "Taxmageddon."

At year-end, a range of tax cuts are currently set to expire, potentially dampening consumer spending as households are forced to send more of their income to the US Treasury.

The Federal Reserve chief was asked about the implications in a press conference Wednesday afternoon, following a scheduled meeting of the Fed's policy committee. Specifically, if no action occurs before a new Congress convenes early in 2013, would the Fed try to act to offset the impact?

"We'll have to take fiscal policy into account to some extent," Mr. Bernanke said, "but I think it's very important to say that if no action were to be taken by the fiscal authorities, the size of the fiscal cliff is such that there's, I think, absolutely no chance that the Federal Reserve could or would have any ability whatsoever to offset that effect on the economy."

"As I've said many times before, it's imperative for Congress to give us a fiscal policy that achieves two principal objectives. The first is, of course, to achieve fiscal sustainability over the longer term. That is critical," Bernanke said.

The second objective, he said, is to set that new course without doing short-term damage to the economy.

"I have concern that if all the tax increases and spending cuts that are associated with the current law ... occur on Jan. 1, that that would be a significant risk to the recovery," Bernanke said. "So I'm looking and hoping that Congress will take actions that will address both sides of that – both requirements of a good fiscal policy."

We most definitely need to get spending under control. I don't disagree with that at all. But what tea baggers are too dumb to understand is that government spending is a component of GDP. One of the reasons for the most recent GDP reading being lower than expected is because government spending (federal, state and local) has been falling over the past several quarters. Drastically reducing "G", while imposing higher taxes across the board, will likely throw us back into recession. But just like last year, when the freshmen tea baggers in Congress didn't understand that allowing the U.S. to default on its debt would be devastating, they're just as clueless on this economic issue. Putting stupid people in any position of authority is generally a bad idea.

Straight Shooter
2012-04-27, 15:53
The same thing is going to happen in the U.S. in Q1 of next year... if the President and Congress don't work something out before December 31, 2012.

'Fiscal cliff' threatens economy on Dec. 31, Bernanke warns Congress (http://www.csmonitor.com/USA/Politics/2012/0426/Fiscal-cliff-threatens-economy-on-Dec.-31-Bernanke-warns-Congress)



We most definitely need to get spending under control. I don't disagree with that at all. But what tea baggers are too dumb to understand is that government spending is a component of GDP. One of the reasons for the most recent GDP reading being lower than expected is because government spending (federal, state and local) has been falling over the past several quarters. Drastically reducing "G", while imposing higher taxes across the board, will likely throw us back into recession. But just like last year, when the freshmen tea baggers in Congress didn't understand that allowing the U.S. to default on its debt would be devastating, they're just as clueless on this economic issue. Putting stupid people in any position of authority is generally a bad idea.

According to the OECD, the U.S is supposed to see firm growth in the next two quarters?

0AdQZYk6vD0

Rey C.
2012-04-29, 13:24
According to the OECD, the U.S is supposed to see firm growth in the next two quarters?

0AdQZYk6vD0

Yeah, for the next two quarters, I think Bernanke and the Fed agree with that assessment. But what he's addressing here is the end of Q4 2012 going into Q1 2013.

Rey C.
2012-04-30, 13:07
As bad as things have been in Spain, it's surprising that they had any meaningful economic growth before now. But here's my question: if Spain implodes (like Greece), will the German people bail them out, or will they tell Merkel to take a hike if she supports any more foreign bailouts with German taxpayer funds? Until he was on the verge of being tossed out, I didn't realize just how unpopular Sarkozy was in France. So to the German members here, how popular or unpopular is Merkel there?

Crude Drop As Spain Officially Enters Recession (http://www.nasdaq.com/article/oil-futures-crude-drop-as-spain-officially-enters-recession-20120430-00937)


Spain's economy contracted 0.3% during the first three months of the year, the second straight quarter of negative growth, signaling that the country was officially in a recession.

"It really seems to be concerns about Europe again" pressuring oil prices, said Phil Flynn, analyst at PFG Best in Chicago. "Spain's in a recession and that got us off to a weak start."

The downbeat news underscored the challenges that the euro zone continues to face in getting the economies of its members back on track. Spain has been among the countries hardest hit by the currency union's sovereign-debt crisis, which has crimped economic growth across the region and slowed oil demand.

The country's banking sector suffered a widespread credit-rating cut on Monday. Last week, Standard & Poor's cut Spain's debt rating by two notches.

vodkazvictim
2012-05-02, 07:27
I told you guys the Tories were bad news and that their ridiculous excuses for fiscal policy would fail.

And, the same could be said here in the U.S.

The Brits need oil as badly as we do. Too bad it remains out of reach, in plain sight. :yesyes:
Shut the fuck up.
I live in England and it angers me that you talk about this little island as though you know anything about it.
You know jack shit about this island.
You know jack shit about your own country.
Just shut the fuck up.