Friday, Aug 22, 2008
The supertanker is turning
BBC: UK economy comes to a standstill
UK economic growth ground to a halt between April and June, according to the latest official data
Posted by holding out @ 09:42 AM (681 views) Add Comment
10 Comments
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1. Eyes_wide_open said...
And now it goes into reverse...
2. enuii said...
Note the very clever way this little nugget of information has been worded.
'economic growth was unchanged in the second quarter from the first'
It's presented in such a way that a casual reader would not register it's significance. If you substitute the word ZERO for UNCHANGED then the statement is less deceitful.
3. plato said...
Economic growth based on Debt that is!
4. Eternal Sceptic said...
I think it is actually foundering
5. alan said...
Reuters article on the same subject adds that it will fuel the fires of discontent with Government policies, particularly denting Gordo's claim of continual growth since coming to power.
6. harold said...
"The supertanker is turning"
Turning? Sinking in an ocean of debt.
7. drewster said...
holding out,
I think your title hits the nail on the head. The economy is changing direction and gathering downward momentum. It will take a long time to set this supertanker back on track.
The Tories must be thanking their lucky stars that Gordon didn't call an election last October / November.
8. Astonished Observer said...
But still the average punter on here thinks the Bank should raise rates!
9. Notaneconomicsguru said...
6. Drewster. Yes I bet they are. His lack of courage, coupled with his smug self-obssessed ego and propensity to lie but not be able to hide it was plain for all to see and did him no end of damage. He probably would have won if he had the courage, but it would have been a very close run thing and he would probably have less of a majority than now, but he would have got himself another 3 years.
10. bystander said...
astonished observer, I take it you have no savngs and are mortgaged up to the hilt!!!!!