UK Growth Slowing

[AnInconvenientScotsman]

UK economic growth slowed in the fourth quarter of 2010, "raising concerns about a sustainable recovery", the British Chambers of Commerce (BCC) has said.

It estimates the economy expanded by 0.4%-0.5% in October-December, a slowdown on the latest official growth figure of 0.7% for July-September.

The BCC says the reduced output was a result of service sector weakness.

http://www.bbc.co.uk/news/business-12156669

It'll only get worse with the VAT rise and the changes in fuel duty, putting the recovery at further risk.

Don't say we didn't warn you, George.

[Atheist-Lite]

It didn't work in Ireland either.

[AnInconvenientScotsman]

It didn't work in Ireland either.

Osborne's a fucking idiot and it's a crying shame to see Vince Cable forced to play second string to him, seeing as he's the most talented economist in Parliament (if not the most talented politician, clearly).

It's pretty clear: no spending=no growth=another recession. BOOM!!! Sit the fuck down George!

[mistermack]

It's true, the worst thing you can do in a recession is to hit confidence.
A recession is all about confidence. Too much of it, to start with, feeding a boom bubble. And then a lack of it, when the bubble pops.
Gordon Brown has a lot to answer for though. He fed that bubble, nourished and nurtured it. Everyone knew the house price bubble couldn't last. It fed the bubble in the whole economy. People were borrowing on the back of it. Now they've stopped borrowing. It's not surprising that there's a recession.

How the fuck have we reached this point, where politicians still stoke up booms, knowing there will be a bust?

The answer is you, me, and the press. We vote for it, and the press hide what's happening. Nobody wants to damp down a bubble when it's growing. The chancellor gets lots to spend, and we feel rich with our houses going up and up in price.

Gordon Brown promised no boom and bust, but he was a fucking liar. That's exactly what he was doing, the whole time, and he knew it. He was just hoping that the boom would last long enough for him to get the top job for a while.

So I say blame ourselves. You voted for it. And blame the press, because they missed it, or hid it. But that's our fault as well. If you vote by the headline, and buy the press by the headline, they will keep telling you what you want to hear.

[Atheist-Lite]

It's true, the worst thing you can do in a recession is to hit confidence.
A recession is all about confidence. Too much of it, to start with, feeding a boom bubble. And then a lack of it, when the bubble pops.
Gordon Brown has a lot to answer for though. He fed that bubble, nourished and nurtured it. Everyone knew the house price bubble couldn't last. It fed the bubble in the whole economy. People were borrowing on the back of it. Now they've stopped borrowing. It's not surprising that there's a recession.

How the fuck have we reached this point, where politicians still stoke up booms, knowing there will be a bust?

The answer is you, me, and the press. We vote for it, and the press hide what's happening. Nobody wants to damp down a bubble when it's growing. The chancellor gets lots to spend, and we feel rich with our houses going up and up in price.

Gordon Brown promised no boom and bust, but he was a fucking liar. That's exactly what he was doing, the whole time, and he knew it. He was just hoping that the boom would last long enough for him to get the top job for a while.

So I say blame ourselves. You voted for it. And blame the press, because they missed it, or hid it. But that's our fault as well. If you vote by the headline, and buy the press by the headline, they will keep telling you what you want to hear.

There's never a piper without a drummer and that Alan Greenspan soon disappeared when the fear began. What they both have in common are those dark passages from Bible books like Isiaah.