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Pravda: " Britain's Recovery In Tatters "

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http://www.guardian.co.uk/business/2011/jun/01/uk-closer-double-dip-recession

Manufacturing gloom is moving UK closer to double-dip recession
With firms' order books on a downward trajectory, and mortgage demand going the same way, Britain's recovery is in tatters

Surprised to see the FTSE react to the many gloomy news stories today. :blink:

It may be a case of when bad news hits its time to sell and not buy?

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http://www.guardian....e-dip-recession

Manufacturing gloom is moving UK closer to double-dip recession
With firms' order books on a downward trajectory, and mortgage demand going the same way, Britain's recovery is in tatters

Surprised to see the FTSE react to the many gloomy news stories today. :blink:

It may be a case of when bad news hits its time to sell and not buy?

If borrowing is collapsing (which it is apart from government borrowing) but the economy is static, or falling slightly maybe thats good news. Would you prefer another debt fuelled boom? I'm sure the BBC would, but you have to somehow grow the economy somehow without a corresponding increase in debt.

Edited by Sir John Steed

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I was under the impression that our manufacturing was currently benefiting from the weak pound?

Our number 1 single nation trading partner is the US. The pound is up heavily vs. the $.

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Can we actually have some hardship with the second dip and not the government rescuing everyone and their dog?

I know it sounds crazy but to have a recovery one must surely first have a recession :P

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It is not just the UK

In Europe retail sales contract or mis estimates

http://www.bloomberg.com/news/2011-05-30/european-retail-sales-contract-to-7-month-low-markit-says-1-.html

Similar things in the US

http://www.conference-board.org/press/pressdetail.cfm?pressid=4209

http://www.reuters.com/article/2011/05/31/us-usa-economy-chicagoinstant-idUSTRE74U3GR20110531

Lots of storm flags going up at the same time all across the world

http://www.ft.com/cms/s/0/e35fa880-8b4e-11e0-8c09-00144feab49a.html#axzz1NxPpIZRp

Round two of the financial crisis should be kicking off in anger before the end of the year.

The UK failed even to get of its seat in the corner after the end of round one

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Anyone read the comments, everyone blaming it on the Tories.

Make the most of it, because in a few years Labour will get back in and the UK will be smacked back to the middle ages.

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Just out of curiosity, what does the UK manufacture on a large scale any longer?

Teasmades! :blink:

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Just out of curiosity, what does the UK manufacture on a large scale any longer?

pharma (research and production AFAIK), jet engines, airliners and military aircraft (EADS / airbus), nuclear fuel, ships, a fair few trains (ex BR plants now owned by Alsthom AFAIK), automotive technology in Cambs

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pharma (research and production AFAIK), jet engines, airliners and military aircraft (EADS / airbus), nuclear fuel, ships, a fair few trains (ex BR plants now owned by Alsthom AFAIK), automotive technology in Cambs

And trouser presses! :huh:

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pharma (research and production AFAIK), jet engines, airliners and military aircraft (EADS / airbus), nuclear fuel, ships, a fair few trains (ex BR plants now owned by Alsthom AFAIK), automotive technology in Cambs

Pharms they still do most of their research here but most of the production is now overseas.

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Just out of curiosity, what does the UK manufacture on a large scale any longer?

Says here the UK is the world's sixth largest manufacturer

http://www.telegraph.co.uk/finance/comment/rogerbootle/7604386/British-manufacturing-is-bigger-than-you-think-and-its-likely-to-grow.html

I think we make wheeled dustbins, I'm sure I recognise them as ours when I'm abroad, even in remote parts of Poland, perhaps they're this firm's http://www.mgbplastics.com/

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Pharms they still do most of their research here but most of the production is now overseas.

That's because they need UK regulatory approval, they can't not do research here if they want to license the drug. Clinical trials are very expensive to run.

Once you've got it licensed then produce in the cheaper economies.

Good to hear the economic recovery is going from strength to strength.

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Pharms they still do most of their research here but most of the production is now overseas.

indeed, but you seem to be treflecting this fetish for physical manufacturing - sure it's helthy to have a diverse economy, but not manufacturing for its own sake. Manufacturing pharma despite probably the vast majority of the profits coming INTO the UK owing to the intellectual property, has no major benefits - ie we cannot do it competitively, cannot therefore make much money on it, and even then, it is not diversified as we already get loads of pharma income for the IP side.

If a western nation wants to do manufacturing, best in high value added manufacturing, not simple production line stuff; this is the nature of economic development when you have a strong currency, is normal and healthy - in other words a manual labourer in the UK is more likely to be much more highly and subtley skilled than one in India, which is the case AFAIK

is is also inevitable that we will have falling physical manufacturing over time as we develop more IP and services

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And trouser presses! :huh:

And crisps, After Eights and electronic batons. Also those detector things you put a blank plastic card thing in and it tells you if someone at an Afghan checkpoint has TNT hidden in his bag. Then you can change the magic crystals inside and the device tells you if it is drugs or Semtex. Honest.

In fact enterprising British businessmen used my tax in the form of export credit guarantees for exporting exactly those products...until some diligent soul eventually questioned how they could possibly work. But hey, WTF, it's exports and it's ours.

And we bitch about Gordon Brown not giving the army decent kit.

Never mind, it's the profits that count.

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No doubt this news will lead to screams for more money printing, more public borrowing and more inflation.

Because that way we can have a painless recovery and nobody will have to pay for it. Obviously.

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  • 284 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%



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