FreeTrader Posted January 25, 2011 Report Share Posted January 25, 2011 Statement in the GDP release: "The figures published today show that GDP declined by 0.5 per cent in 2010 Q4. "The change in GDP in Q4 was clearly affected by the extremely bad weather in December last year. The disruption caused by the bad weather in December is likely to have contributed to most of the 0.5 per cent decline, that is, if there had been no disruption, GDP would be showing a flattish picture rather than declining by 0.5 per cent. We should emphasise that this assessment of the effect of the bad weather is the best we can make it at this stage, but is still inevitably uncertain." http://www.statistics.gov.uk/pdfdir/gdp0111.pdf Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 25, 2011 Author Report Share Posted January 25, 2011 (edited) Labour will say they passed on a recovering economy and it was Tory slash and burn that screwed it up. The Labour bint that looks a bit mannish (Man's Tweed suit, boyish hair but not a gruff voice which is unuasual for that sort) was on CH4 news last night saying just that. They know sheeple have short memories and will buy into it. Koalishon probably finished by the end of this year and the slightly better Millipede will take Labour back into Number 10--so long as he drops the Balls creature things could be worse. Sterling down from 1.604 this morning. 1 GBP $1.57889 Euro 1.16180 Edited January 25, 2011 by Realistbear Quote Link to comment Share on other sites More sharing options...
Number79 Posted January 25, 2011 Report Share Posted January 25, 2011 "Keep reducing the deficit". When did the deficit reduction start? I missed that bit completely. I have heard a lot of gas, a lot of ministers think that they have done the work already, but nothing has been done so far of any consequence. And yet the market is happy to lend money to the government at ever lower rates. I cant fathom it at all. it is down to 15.3 billion. you do understand that I said deficit and not debt dont you? Quote Link to comment Share on other sites More sharing options...
exiges Posted January 25, 2011 Report Share Posted January 25, 2011 The pound is red across the board Quote Link to comment Share on other sites More sharing options...
Fudge Posted January 25, 2011 Report Share Posted January 25, 2011 The pound is red across the board Is that good? Quote Link to comment Share on other sites More sharing options...
Tonkers Posted January 25, 2011 Report Share Posted January 25, 2011 Why are the BBC reporting a contraction of 0.5% am I missing something? lmao," totally explained by the weather" Thing is, the bad weather would should have increased sales; heaters, clothing, fuel, snow shovels and the like. Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted January 25, 2011 Report Share Posted January 25, 2011 Thing is, the bad weather would should have increased sales; heaters, clothing, fuel, snow shovels and the like. im expecting russian GDP to come in at - 40% Quote Link to comment Share on other sites More sharing options...
Lepista Posted January 25, 2011 Report Share Posted January 25, 2011 it is down to 15.3 billion... ...Per MONTH - that's still £185 billion per year. Quote Link to comment Share on other sites More sharing options...
leicestersq Posted January 25, 2011 Report Share Posted January 25, 2011 it is down to 15.3 billion. you do understand that I said deficit and not debt dont you? Yes I understand. The month on month figures show a big decline of course. What is important though is the underlying deficit, in some months the tax take is bigger than others. I would guess that December is a good month for taxes, as people go out and spend more, and end of year bonuses are dished out, all of which adds to the tax take. I would guess that is the reason for the fall from Nov - Dec. Can anyone confirm if the tax take rises every December from November? January might not be so good. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 25, 2011 Author Report Share Posted January 25, 2011 http://uk.finance.yahoo.com/news/IMF-inflation-general-concern-reuters_molt-3055184508.html?x=0 IMF-inflation not general concern in advanced countries 9:38, Tuesday 25 January 2011 JOHANNESBURG (Reuters) - Inflation in advanced countries was not a general concern despite high commodity prices, a senior International Monetary Fund official said on Tuesday. "Inflation in advanced countries is not a general concern Quote Link to comment Share on other sites More sharing options...
nowthenagain Posted January 25, 2011 Report Share Posted January 25, 2011 Crazy idea but why not reduce the deficit by raising tax? Rather than slashing spending across the board, so dumping the country into recession? This is the question you will hear much more of in coming weeks. Ed Balls will have a field day. It was the property owning middle classes whose avarice created this mess and it should be them who suffer the pain. Quote Link to comment Share on other sites More sharing options...
gf3 Posted January 25, 2011 Report Share Posted January 25, 2011 For years I've read on this forum that interest rates can only go one way. I've always questioned that wisdom. Quote Link to comment Share on other sites More sharing options...
leicestersq Posted January 25, 2011 Report Share Posted January 25, 2011 Is that good? Very good indeed for exporters whose costs are primarily in pounds. It is like giving your workforce a wage cut without them knowing. Quote Link to comment Share on other sites More sharing options...
shindigger Posted January 25, 2011 Report Share Posted January 25, 2011 Tory competence ? No, just the fake money Labour have splurged into the market has run out, the party is over. U turn on cuts ? No, cut more waste. Nail on head. Hold on tight, stay liquid. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 25, 2011 Author Report Share Posted January 25, 2011 http://uk.finance.yahoo.com/news/IMF-inflation-general-concern-reuters_molt-3055184508.html?x=0 IMF-inflation not general concern in advanced countries 9:38, Tuesday 25 January 2011 JOHANNESBURG (Reuters) - Inflation in advanced countries was not a general concern despite high commodity prices, a senior International Monetary Fund official said on Tuesday. "Inflation in advanced countries is not a general concern Merv's valiant vigilance vindicated? Quote Link to comment Share on other sites More sharing options...
leicestersq Posted January 25, 2011 Report Share Posted January 25, 2011 http://uk.finance.yahoo.com/news/IMF-inflation-general-concern-reuters_molt-3055184508.html?x=0 IMF-inflation not general concern in advanced countries 9:38, Tuesday 25 January 2011 JOHANNESBURG (Reuters) - Inflation in advanced countries was not a general concern despite high commodity prices, a senior International Monetary Fund official said on Tuesday. "Inflation in advanced countries is not a general concern RB, save that quote, it may well come back to haunt the IMF all too soon. I think it is their equivalent of 'No return to boom and bust'. Quote Link to comment Share on other sites More sharing options...
Pent Up Posted January 25, 2011 Report Share Posted January 25, 2011 Stagflation it is then. Printy printy. Negflation. And how can you print with high inflation? Quote Link to comment Share on other sites More sharing options...
Number79 Posted January 25, 2011 Report Share Posted January 25, 2011 http://uk.finance.yahoo.com/news/IMF-inflation-general-concern-reuters_molt-3055184508.html?x=0 IMF-inflation not general concern in advanced countries That rules us out then so inflation it is. Quote Link to comment Share on other sites More sharing options...
Fudge Posted January 25, 2011 Report Share Posted January 25, 2011 It gets funnier entirely due to severe weather Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted January 25, 2011 Report Share Posted January 25, 2011 The pound is red across the board Get in there Son... Quote Link to comment Share on other sites More sharing options...
Van Posted January 25, 2011 Report Share Posted January 25, 2011 Is there a word for negative growth combined with high inflation? Negflation? Stagflation. Quote Link to comment Share on other sites More sharing options...
Caveat Mortgagor Posted January 25, 2011 Report Share Posted January 25, 2011 Is there a word for negative growth combined with high inflation? Negflation? I think we will be hearing the word 'Stagflation' a lot more in the coming weeks and months. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 25, 2011 Author Report Share Posted January 25, 2011 1 GBP $1.57787 Euro1.16189 Big move--this was a watershed day for our economy and its headed in the wrong direction. Quote Link to comment Share on other sites More sharing options...
exiges Posted January 25, 2011 Report Share Posted January 25, 2011 Crazy idea but why not reduce the deficit by raising tax? Heard of the Laffer curve ? It was the property owning middle classes whose avarice created this mess and it should be them who suffer the pain. You do know there's now a 50% tax rate and 12% National Insurance.. and 20% VAT.. taxes have risen considerably.. so now what ? Quote Link to comment Share on other sites More sharing options...
zilly Posted January 25, 2011 Report Share Posted January 25, 2011 How to make a hpc cocktail: Create high inflation and mix it with ultra low interest rates then add some negative GDP and unemployment. At the end shake everything a little by raising IRs. Enjoy your hpc! Well yes but it makes you wonder some times whether in a few years' time the UK will be a place you'd want to buy a house at any price! 2008-2011 seems to me eerily like 1929-1932. With the difference being that back then we could still rebuild UK industry after the rout, whereas now we've sent it all abroad to some little chaps whom we can pay pennies an hour - a process which will of course accelerate as the UK declines and becomes less important on the global stage. It is reckoned now that only 47% of adults in the USA have a full time job. That sounds like Steinbeck conditions to me! Globalisation - gotta love it! Still - keep smiling and keep consuming! Quote Link to comment Share on other sites More sharing options...
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