Jump to content
House Price Crash Forum
Sign in to follow this  
The Masked Tulip

Kenneth Clarke Says Double-Dip Recession 'can't Be Ruled Out'

Recommended Posts

http://www.guardian.co.uk/politics/2010/oct/02/kenneth-ken-clarke-economy-tory-conference

Britain's economy is at risk of a "double-dip" recession and may not recover fully for another five years, Kenneth Clarke warns tomorrow.

In an exclusive interview with the Observer, the former chancellor delivers a bleak message on the eve of the Tory conference – at which David Cameron is keen to strike a more optimistic note – saying he remains distinctly downbeat about the outlook for the British and global economies: "I'm at the more pessimistic end. I'm not sunnily optimistic about where the western economy is going."

Clarke, chancellor from 1993 to 1997, believes the chance of the UK being sucked into another recession is "below 50%", but insists that the risks remain substantial. "I do not rule out the risk of a double-dip recession caused by some fresh wave of global fear and crisis," he says.

Even though he warned before the election that over-aggressive cuts could harm the recovery, Clarke insists he is fully signed up to the coalition government's programme. But he says it does guarantee a return to sustained growth because of global forces beyond its control.

Share this post


Link to post
Share on other sites

If any politican is talking about a double dip (as much as I respect Clarke) then one has to appreciate that small town politicians know nothing about economics.

Repsect as a politician bit economically they know little.

Edited by ringledman

Share this post


Link to post
Share on other sites

And after 20th October 2010 spending review Kenneth will say:

Clarke, chancellor from 1993 to 1997, believes the chance of the UK being sucked into another recession is "below 100%", but insists that the risks remain substantial. "I do not rule out the risk of a double-dip recession caused by some fresh wave of global fear and crisis," he says.

:rolleyes:

Share this post


Link to post
Share on other sites
Britain's economy is at risk of a "double-dip" recession and may not recover fully for another five years, Kenneth Clarke warns tomorrow.

Although many give Clarke a great deal of respect he has always worried me. Although a politician of the old school he comes across as following the popular view but not the reality. He like others before him has a grand opinion of himself. A blatant Europhile who sees no wrong in te EU. :rolleyes:

Share this post


Link to post
Share on other sites

A recession is a solution, not a problem, The underlying problem is high house prices.

The economy won't be able to heal if it cannot flush out all the toxins from it's system, until the politicians recognise this they're going to continue making matters worse.

Edited by Chef

Share this post


Link to post
Share on other sites

Going to a debt-free monetary system would help (hint: not private banks operating on fractional reserves), as would fighting the deflation that the vast majority of us are experiencing. Insufficient currency hinders production and trade. If I had a position that senior in the state, land tax to replace all other taxes and a national dividend pegged to general price levels would be the first order of business.

As long as goods and services are created\purchased with this new money, and controls are placed on its supply, there should be no inflation issue. State spending would be limited to the essentials: roads and bridges can be considered useful public goods, military weapons are not.

Share this post


Link to post
Share on other sites

Last week on the radio I heard a tory minister (don't know which one) say that the economy will only start to recover in 2015.

As for double dip, wait for US house price news in the next few months - it hasn't gone away, you know. A further QE announcement will simply confirm it.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 245 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.