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UK back in recession. Double dip.

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posted on Apr, 25 2012 @ 04:00 AM
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The economy shrank by 0.2% in the first three months of 2012, the Office for National Statistics (ONS) said. This followed contraction of 0.3% in the last three months of 2011.

The ONS said there was a sharp 3% fall in construction output, the biggest fall for three years, adding that it had double-checked the figures.


www.bbc.co.uk...

So the dreaded "Double Dip" has occurred. The UK has entered a 2nd quarter of economic contraction. It seems like it was a surprise to many economists who predicted growth for this quarter.




posted on Apr, 25 2012 @ 04:07 AM
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yeh were screwed.

The bank of England has almost 0% interest rate (and has been for a while) in order to try and get people and businesses to spend yet no one has any spare cash.

So basically the bank of England has lost control of the value of the pound.

Looks like the economic things are not going to plan.

I remember the last recession back in the 90's and the Conservative government were stating 'were going to do a consumer led recovery'.

Just how can people spend their way out of a recession if they don't have any spare money or even a job ?

It seems the more power some of these delusional people get the more removed from reality they become.

hmm just looked at the uk list of recessions, from 1970 we have had recessions every 10 years.
Why is that ?

recession list
edit on 25/4/2012 by diddy1234 because: (no reason given)



posted on Apr, 25 2012 @ 04:46 AM
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Who does this surprise (the politicians and economists, apparently - which is extra worrying)!?

1. In the UK many families are now paying more per month for petrol/diesel than they are for either groceries/food or their mortgage/rent. They simply have no disposable income left to spend. How are small businesses (which tend to be in the 'discretionary spending' sector - as most staple products and services are supplied by huge corporations due to economies of scale) supposed to grow, or even survive??!!

2. The changes in technology, that have been happening in the shadows at the same time as the economic crash, have pushed much retail that remains into the realms of eBay (direct imports from Chinese manufacturers etc) - and the high street has literally died and is just a walking ghost with no hope.

3. The Eurozone Crisis is far, far worse than most people realise. For a true picture listen to someone like Nigel Farage.


There is only one way this is heading. There will be mass civil disorder - civil war. Mark my words.



posted on Apr, 25 2012 @ 05:25 AM
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im a little surprised i thought we turned a corner, then again europe has been in constant turmoil so i should have expected it.



posted on Apr, 25 2012 @ 05:28 AM
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This country is being destroyed by the policies of successive governments who have little regard or interest in the cares, concerns and well being of ordinary people and whose priorities are to maintain a system that promotes the interests of the wealthy elite before anything else.

Cameron continues to waste billions on foreign aid, foreign wars and programmes like The Olympics whilst the majority of the country begins to feel the full effects of his 'austerity' cuts.
This whilst his banker and corporate whore friends and backers continue to bleed this country dry.

And it will remain so as long as we have an electoral and parliamentary system that is outdated, unrepresentative and relatively unaccountable and careerism, self-advancement and gain, cronyism and adherence to dogmatic party line all take precedent over personal belief and conviction or the best interests of members constituents and the will of the people.



posted on Apr, 25 2012 @ 05:29 AM
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and the greedy energy companies have not helped one bit! profit profit profit all self the lot of them, i suppose it will be everyman for himself when it all goes pete tong



posted on Apr, 25 2012 @ 05:30 AM
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Dramatic claims aside, this was to be expected with the massive cuts in public expenditure.

In 2010, prior to the election, Government spending was virtually 50% of the total economy.. This was unsustainable.

I note, however, that there is a decided lack of posting of good news about the economy on ATS. Figures really, we love the doom and gloom.

But what about Land Rover's expansion? Nissan? Redcar firing up again? There are many more and these stories are out there, but only the bad stuff gets air time...

EDIT: I'm not saying it's all rosy and perfect, but lets keep some balance. I doubt the next quarter will show a dip, but rather a nice boost, especially with Summer, the Olympics and the Jubillee.
edit on 25/4/12 by stumason because: (no reason given)



posted on Apr, 25 2012 @ 05:31 AM
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reply to post by Freeborn
 


well said



posted on Apr, 25 2012 @ 05:33 AM
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reply to post by vister74
 


Indeed, Freeborn knows the score. On the points he made, he and I are in total agreement. We can't keep bumbling along with this system we have and tinker it here and there with no real change. It's the same idiots running the show time and again, all just playing musical chairs.



posted on Apr, 25 2012 @ 05:36 AM
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reply to post by vister74
 


It does make me think, why are all of these energy companies storing up massive bank balances ?
Do they know something that you or I do not ?

Say for example the SHTF scenario and no one can pay their energy bills, these companies can just sit it out on the side waiting until a brighter future.

They will have to be careful though, they don't want too much money in the bank otherwise they will have to pay for decommissioning the nuclear power plants (I think there are a dozen power stations that are coming to the end of their lives).



posted on Apr, 25 2012 @ 05:40 AM
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labour spends, conservative saves! these partys have been back in forth in power for decades this has what has shaped britain into what it is today.



posted on Apr, 25 2012 @ 05:41 AM
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reply to post by OliArtist
 


just what will 'civilians' in the UK fight their civil war with? they have been disarmed! only criminals, the armed forces, and the police have arms, rocks against automatic rifles, yeah, right.



posted on Apr, 25 2012 @ 05:41 AM
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reply to post by stumason
 




.....but rather a nice boost, especially with Summer, the Olympics and the Jubillee.


The wedding of William and Kate proved a pleasant distraction last year.....but it was very much the calm before the storm and was merely a temporary papering over of the cracks.
Look what followed.
And this year could be much worse with a general feeling of discontent far more widespread.

People are sick of the austerity cuts and seeing the injustices that increase by the day whilst the most affluent continue to profit.
In fact the gap between the have's and have not's is increasing.
And that is quite disgusting.

People feel a sense of complete alienation with and detachment from those who allegedly represent us.

And as for The Olympics.
For many this is viewed with complete disgust.
Billions are being spent on regenerating and improving the already affluent London and the surrounding areas whilst the rest of this country is being destroyed by these austerity cuts.



posted on Apr, 25 2012 @ 05:42 AM
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Originally posted by diddy1234
hmm just looked at the uk list of recessions, from 1970 we have had recessions every 10 years.
Why is that ?


Recessions, unfortunately, are a part of life that can't ever really be avoided, in a true market economy at least. When the economy grows, that is simply demand outstripping supply, so everyone can make money. The production ramps up to meet demand, more people get jobs, then at some point, supply will outstrip demand. This is simply because it cannot ever be predicted exactly. When this happens, prices fall, people lose jobs, the economy shrinks..

The important thing is how the Government deals with it, not whether they can ever avoid it. You can only ever do that in a state controlled economy and that is doomed to fail eventually for other reasons.



posted on Apr, 25 2012 @ 05:44 AM
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reply to post by diddy1234
 




It does make me think, why are all of these energy companies storing up massive bank balances ?
Do they know something that you or I do not ?


As with the majority of utility companies, all 'these energy companies' are foreign owned and are syphoning off money out of this country at an alarming rate with very little, if any, of their vast profits being re-invested in this country.



posted on Apr, 25 2012 @ 05:47 AM
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reply to post by Freeborn
 


Being a tad dramatic, Freeborn. I'd hardly say the rest of the country is "being destroyed". Like I said, there are quite a few good news stories out there, but they get glossed over.

The cuts are needed, it was never sustainable to continue spending the way we were. It is unacceptable that such huge amounts of money are being spent to effectively keep people out of work.

I can totally understand people moaning about losing income, I lost out last year, way ahead of many, when I had my Tax credits totally cut to the tune of £1560 lost income for the year, but you have to learn to adapt and spend within your means, not rely on a state handout which to be honest far to many seem to expect as the norm rather than helping those that actually need the money. I gladly gave up my tax credits as me doing my bit. I didn't really need them at all.
edit on 25/4/12 by stumason because: (no reason given)



posted on Apr, 25 2012 @ 05:53 AM
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reply to post by stumason
 





You can only ever do that in a state controlled economy and that is doomed to fail eventually for other reasons.


I disagree. Socialism seems to be the obvious and only way forward. Its time to roll the dice it would seem. Capitalism is a gigantic beached whale and we are just throwing buckets of water on it. I say let it die. This is more than a 'double dip recession'.

People are more and more ready for something else by the day.



posted on Apr, 25 2012 @ 05:55 AM
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reply to post by Freeborn
 


The Water companies alone invest over £3 billion a year into their networks, it is regulated, as is the pricing. The same goes for the energy market, although the pricing isn't really regulated.

But, I am of the opinion that all utilities should be publicly owned and provide services to the public at cost + a small % for re-investment etc. Surely this would lower prices, as we don't have to generate profits?



posted on Apr, 25 2012 @ 05:56 AM
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Originally posted by stumason

Originally posted by diddy1234
hmm just looked at the uk list of recessions, from 1970 we have had recessions every 10 years.
Why is that ?


Recessions, unfortunately, are a part of life that can't ever really be avoided, in a true market economy at least. When the economy grows, that is simply demand outstripping supply, so everyone can make money. The production ramps up to meet demand, more people get jobs, then at some point, supply will outstrip demand. This is simply because it cannot ever be predicted exactly. When this happens, prices fall, people lose jobs, the economy shrinks..

The important thing is how the Government deals with it, not whether they can ever avoid it. You can only ever do that in a state controlled economy and that is doomed to fail eventually for other reasons.


So what about countries like Germany and Switzerland, they had not had recessions for donkeys years ?
Are they stable countries or just good at hiding demand and supply ?

Britain's boom and bust culture has to stop.
At the end of the day it is not good for anyone.



posted on Apr, 25 2012 @ 05:59 AM
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reply to post by Germanicus
 




Didn't work out so well for Russia or China, did it? Russia collapsed entirely after their state economy imploded and China converted to a state capitalism model.

A regulated, market economy is the fairest and most prosperous for all. The problem is we don't really have that and have let capitalism run amok. It needs to be domesticated.



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