3 cheers for Gordon...

Discussion in 'Current Affairs, News and Analysis' started by whitecity, Feb 4, 2010.

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  1. GDP Growth: UK output increases by 0.1 per cent
  2. I was given to understand that the .1% rise was due to the car scrappage scheme and that next quarter we would be back into zero/negative growth.
    My, My Did Mandelson not announce yesterday that he was extending the car scrapping scheme.
  3. Command_doh

    Command_doh LE Book Reviewer

    I thought this was going to say he had committed suicide...
  4. I thought the increase in economic activity was due to pie sales?
  5. It'd have to be assisted suicide. Apparently the demented loon has been making noises about staying on as Labour leader 'even if, for some reason Labour lose the election'.

    If you think the graph above is scary, have a look at the one below.


    That's how the markets responded to the news that quantitative easing is to be stopped and the government will no longer be propping up the price of UK bonds by buying them off itself using money straight off the printing presses.

    The rating of UK debt has been downgraded from 'Andrex' to 'Izal'. The only lower rating is 'ripped up pages from the Guardian'.

    As we're depending on selling bonds to raise one third of government expenditure, there may, as they say, be trouble ahead. If nobody will buy our bonds, government cheques will start bouncing and we'll get into the same kind of Zimbabwe-esque fiscal apocalypse that Greece is entering and that Spain and Portugal trying desperately to avoid.

    Thanks Gordon.
  6. Bloody hell. It's worse than I thought.
  7. For once he is thinking clearly and looking to the future. He knows himself and several chums are going to be looking for work later this year (hopefully).

    So making sure there are plenty of quangos ensures there are plenty of grossly overpaid jobs for them to jump into.
  8. Carlsberg don't make headlines, but if they did....
  9. Allegedly the "car scrappage scheme" is being extended to March!!
    If we are joining the "PIGS" economies can we have their weather as well please, I've had enough of wet.
  10. maguire

    maguire LE Book Reviewer

    you cant even be sure we are actually out of recession. that 0.1% growth is questionable - the range of error for this figure is apparently 0.5%. :(
  11. o.1% is little more than a rounding error.''Out of recession''.I don't think so.