George Osborne

[Guest happy?]

Get on Board for the Double Dippers:

Apparently even the Office Of Brown-Nosing can't hide this one:

http://www.guardian.co.uk/business/2010/jul/13/double-dip-recession-budget-obr-warning

[lowrentyieldmakessense(honest!)]

Get on Board for the Double Dippers:

Apparently even the Office Of Brown-Nosing can't hide this one:

http://www.guardian.co.uk/business/2010/jul/13/double-dip-recession-budget-obr-warning

double dip

as if it had ended - strip out the government deficit and the money printing from the figures first

[scepticus]

So what if what we buy is 2% or even 3% less than what we bought last year?

actually it matters hugely. However, the point is, osborne has not been being honest.

[lowrentyieldmakessense(honest!)]

actually it matters hugely. However, the point is, osborne has not been being honest.

hes a politician what would you expect

[Tired of Waiting]

I don't think you understand.

All GDP is anyway is essentially a measure of what we buy.

So what if what we buy is 2% or even 3% less than what we bought last year?

However, you'd soon notice it if the world won't keep on lending us the money that allows us to pay for our food imports.

+ 1

[Tired of Waiting]

I don't think you understand.

All GDP is anyway is essentially a measure of what we buy.

So what if what we buy is 2% or even 3% less than what we bought last year?

However, you'd soon notice it if the world won't keep on lending us the money that allows us to pay for our food imports.

Besides, suppose the public sector shrinks by some 3% / year, and the private sector grows by 3% / year, the GDP growth will appear to be around zero, but an essential re-balancing of the economy will be taking place, preparing the ground for strong growth in the near future.

[Timm]

Coalition budget 'has increased chance of double-dip recession'

They say it like it's a bad thing.

[Damik]

Get on Board for the Double Dippers:

Apparently even the Office Of Brown-Nosing can't hide this one:

http://www.guardian....get-obr-warning

George Osborne's budget has increased the likelihood of a double-dip recession, the government's tax and spending watchdog told a powerful group of MPs today.Cuts in public spending and higher taxes will have cut the forecast for growth and "logically increased the possibility of a double dip", said Geoffrey Dicks, one of three officials at the Office for Budget Responsibility, at the first meeting of the Treasury select committee in the new parliament.

Jesus, what an idiot. We are borrowing 11% pa and we grow 3 or 4% pa, but it is called a recovery.

Now we take off those 11% so naturally we will grow -7% if nothing changes. But this is called a double dip ....

There was NO REAL recovery so there can be NO double dip ...

[scottbeard]

Jesus, what an idiot. We are borrowing 11% pa and we grow 3 or 4% pa, but it is called a recovery.

Now we take off those 11% so naturally we will grow -7% if nothing changes. But this is called a double dip ....

There was NO REAL recovery so there can be NO double dip ...

+1

[LuckyOne]

Besides, suppose the public sector shrinks by some 3% / year, and the private sector grows by 3% / year, the GDP growth will appear to be around zero, but an essential re-balancing of the economy will be taking place, preparing the ground for strong growth in the near future.

I would go a step further.

Until the public sector's proportional contribution to GDP shrinks by 5% per year for four consecutive years (taking its share from 50% to 40%, the economy will not be in a position to grow again in a sustainable manner no matter what happens to the private sector during this period of adjustment.

[Johnny Storm]

Now we take off those 11% so naturally we will grow -7% if nothing changes. But this is called a double dip ....

There was NO REAL recovery so there can be NO double dip ...

What you perhaps havent realised, is there was never any growth for the last decade, so therefore no dip or recovery.

[@contradevian]

What you perhaps havent realised, is there was never any growth for the last decade, so therefore no dip or recovery.

+1 The last decade should be known as the "smoke and mirrors" decade. Any "growth" from debt creation and unsustainable public spending. I suspect there is some news and expectations management going on here, aka the budget cuts, but growth? Hmm we've not had any for yonks.

[Fudge]

People like Osbourne, Cameron and the rest are millionaires, they dont care if theres a double dip.

[@contradevian]

People like Osbourne, Cameron and the rest are millionaires, they dont care if theres a double dip.

If they don't care and so rich why bother to become politicians. Much easier to lie on a beach all day and not have any aggro!

[Fudge]

If they don't care and so rich why bother to become politicians. Much easier to lie on a beach all day and not have any aggro!

Because they want the power.

They want to be rich and powerful.

[South Lorne]

Get on Board for the Double Dippers:

Apparently even the Office Of Brown-Nosing can't hide this one:

http://www.guardian.co.uk/business/2010/jul/13/double-dip-recession-budget-obr-warning

...one dimensional realisation in a three dimensional world....if Labour had stayed on we would be on the edge of the final smelt down with nobody ...not even the IMF able to help....as for some twit from the Mirror suggesting Gordo's Book unlike Mandelson and Blair's would most likely be on Economics ....what did Gordon Brown ever know about Economics ..?....what a myth ...and any suggestion the IMF may employ him would lead to the total destruction of world....

[Tired of Waiting]

George Osborne's budget has increased the likelihood of a double-dip recession, the government's tax and spending watchdog told a powerful group of MPs today.Cuts in public spending and higher taxes will have cut the forecast for growth and "logically increased the possibility of a double dip", said Geoffrey Dicks, one of three officials at the Office for Budget Responsibility, at the first meeting of the Treasury select committee in the new parliament.

Jesus, what an idiot. We are borrowing 11% pa and we grow 3 or 4% pa, but it is called a recovery.

Now we take off those 11% so naturally we will grow -7% if nothing changes. But this is called a double dip ....

There was NO REAL recovery so there can be NO double dip ...

Good post.

[Dorkins]

Jesus, what an idiot. We are borrowing 11% pa and we grow 3 or 4% pa, but it is called a recovery.

Now we take off those 11% so naturally we will grow -7% if nothing changes. But this is called a double dip ....

There was NO REAL recovery so there can be NO double dip ...

Not really surprising, the Treasury fetishises GDP numbers and their OBR sidekick does too. When you only have a hammer, every problem looks like a nail.

[EUBanana]

Because they want the power.

They want to be rich and powerful.

And what did Gordon Brown want?

[Damik]

Because they want the power.

They want to be rich and powerful.

on the other side Labour and Brown did it because they love us ....

[Qetesuesi]

Because they want the power.

They want to be rich and powerful.

So why are they pursuing policies likely to lose them the next election?

And what did Gordon Brown want?

on the other side Labour and Brown did it because they love us ....

Good answers

[Minos]

And what did Gordon Brown want?

Global Communism.

[Guest happy?]

And what did Gordon Brown want?

A fatuous posting from Minos - see above.

[EUBanana]

I have a low opinion of pretty much all politicians, certainly the front bench ones anyway. You don't get to be front bencher without having plenty of power hunger and not many scruples, they are practically requirements for the job.

Hence why I generally think the government should fekk off, and the idea that government is some sort of saintly enterprise, We The People and all that, is ludicrous. Democracy is being dictated to by Ed Balls, Thatcher, Brownfinger, etcetera. Nothing saintly or morally superior about that.