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Mse Martin Lewis: When Did A Shrinking Economy Count As A Recovery?

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Say what you like about MSE and Martin Lewis, I've always been quite fond of the chap. And while I don't necessarily agree with everything he says I think he definitely deserves a round of applause for this:

http://blog.moneysavingexpert.com/2009/08/...t-as-a-recover/

When did a shrinking economy count as a recovery?

August 31st, 2009 by Martin Lewis

I’ve just watched the BBC One o’clock news. In it the headline (give or take a word) said…

“The UK economy didn’t shrink as much as expected during the last quarter, falling only 0.7%. The real question though is how long this recovery will be sustained.â€

Hold on, the economy SHRANK -0.7% in three months. That’s not a recovery it’s a recession. Remember this fall is ON TOP of falls in previous quarters, in other words ‘our already shrunk economy has shrunk further’.

If a car was driving at 70 miles an hour, and a second later was at 60 mph, and the second after at 55mph – you wouldn’t say it was speeding up – you’d say its no longer slowing down quite as rapidly.

This isn’t a recovery – some may read it as a sign the recession’s getting less harsh, or even that recovery may be on the cards sooner than people thought – but it’s by no means a recovery yet.

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That message should be seen by quite a few people, sheeple and VIs considering the number of normal folk, credit crunchers and media boffs who visit his site.

Nice to see someone in the mainstream media, who isn't associated with this website, challenging the government and BBC propaganda.

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Say what you like about MSE and Martin Lewis, I've always been quite fond of the chap. And while I don't necessarily agree with everything he says I think he definitely deserves a round of applause for this:

http://blog.moneysavingexpert.com/2009/08/...t-as-a-recover/

Comment and Discuss on MSE

That message should be seen by quite a few people, sheeple and VIs considering the number of normal folk, credit crunchers and media boffs who visit his site.

Nice to see someone in the mainstream media, who isn't associated with this website, challenging the government and BBC propaganda.

time to SWITCH to an economy that IS growing...governement spending will see to that...lets see if he looks at the numbers in more detail at end of Q3.

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time to SWITCH to an economy that IS growing...governement spending will see to that...lets see if he looks at the numbers in more detail at end of Q3.

Aye, it will be interesting to see won't it...

Nevertheless, for the sheeple who hang on his every word, and the credit crunchers and distressed sellers who post on his debt boards, this bit of "insight" might be a revelation.

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I always wonder if its propaganda or if the average airhead BBC news presenter actually has any idea what theyre on about.

I caught a bit of Radio 1 Newsbeat last year when inflation went down a couple of ticks to 3% or so and they kept going on about falling prices, because obviously prices rising less fast is the same thing as prices falling. The daft bint kept repeating falling prices though.

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Martin's business needs highly indebted people.

His job is not to analyse government spiel.

He should say the recovery is here, and get people spending and racking up the credit cards.

Then a new set of potential MSE customers - ka-ching. Cycle complete.

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I have read so many pieces in the paper saying "increase in house prices show we may be leaving recession".......... EXCUSE ME! When did house prices have anything to do with recession?

I know they are linked, but one does not define the other.

How about looking at GDP or unemployment? Oh both in shi*sville.

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I always wonder if its propaganda or if the average airhead BBC news presenter actually has any idea what theyre on about.

I caught a bit of Radio 1 Newsbeat last year when inflation went down a couple of ticks to 3% or so and they kept going on about falling prices, because obviously prices rising less fast is the same thing as prices falling. The daft bint kept repeating falling prices though.

You can tell when they know what they're talking about. Their lips don't move.

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It's true though, most people are being indoctrinated by the Media and believing that the economy is recovering. I was visiting a supplier on Friday and even their MD, a man who runs a £60m business, could not see it.

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It's true though, most people are being indoctrinated by the Media and believing that the economy is recovering. I was visiting a supplier on Friday and even their MD, a man who runs a £60m business, could not see it.

you are not clear...could he not see the recovery, or did he beleive the media hype and was fooled into beleivingthere is a recovery?

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you are not clear...could he not see the recovery, or did he beleive the media hype and was fooled into beleivingthere is a recovery?

Sorry for not being clear.

I was just saying the guy "believed" the recovery mantra and also asked me if I was about to buy a house, now that prices are going up again.

Ridiculous.

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Sorry for not being clear.

I was just saying the guy "believed" the recovery mantra and also asked me if I was about to buy a house, now that prices are going up again.

Ridiculous.

Tell him to stick it up his ***e.

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