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New Archbishop - Britain Is In A Long Depression

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http://www.independent.co.uk/news/uk/home-news/britain-is-in-a-long-depression-says-archbishop-of-canterbury-justin-welby-8590920.html

Britain has had “quite a long time” below the economic activity levels of 2007, the Archbishop of Canterbury said today.

The Rt Rev Justin Welby, who took over the role last month, returned to the theme of the country's financial woes in a radio interview following his warning on Monday that Britain is in an economic depression and could take a generation to recover.

He said then that it would take something "very major" to restore confidence and drag the country out of the mire. He suggested the Government may need to recapitalise at least one major bank, and urged the creation of regional banks.

Asked on BBC Radio 4's The Week in Westminster whether he minded ruffling a few feathers, he said: "I don't know if it annoyed people in Number 10. They haven't said anything here. I mean they probably would have preferred it not said.

"Historically depressions have been recognised as lengthy periods in which the economy did not get back to its previous level of activity before a recession set in. So 1929 to 1932 is the great example. There was a big one towards the end of the 19th century.

"We are still significantly below where we were in 2007 in terms of economic activity, of GDP, and that's quite a long time of being below.

"Now, I'm not pointing any fingers at anyone in particular and saying it's so and so's fault or so and so's fault, it's simply a measurable fact coming from the national statistics.

"It's very much less noticeable in London, I have to say, than in the north east where I was living previously. Do I mind ruffling feathers? I think I do mind ruffling feathers, I don't like ruffling feathers - but sometimes feathers get ruffled. I mean that's life."

George Parker, political editor of the Financial Times, asked during the interview whether the Archbishop saw it as part of his mission to try to inject more morality into British financial life.

He said: "My key mission is to lead the church in worshipping Jesus Christ and encouraging people to believe in him and follow him. That's my mission.

"The Christian gospel has always had strong social implications and one of them is around the common good and it's one of the key areas in which the Church of England focuses, and so issues of how the City of London, which is so important and so full of very gifted people, how that behaves in relation to the common good is very key, not to the whole thing that I'm about or the church is about, but to how we express the implications of that in day to day life."

The Archbishop denied a suggestion that he meant that the bank to be recapitalised was the Royal Bank of Scotland, saying he would not name a bank.

He added: "I think the principle is that we need more regional banking. The appeal of regional banking is first that you have slightly smaller banks. I'm not talking about mini banks.

"Again, the evidence we've heard is that once you go over about a hundred billion pounds of balance sheet there are no economies of scale. If any there are diseconomies of being too big and the costs of that. And secondly, as a regional bank, inevitably you get a commitment to your local region to making it flourish. If you're a long way away from somewhere you have less emotional commitment to that area.

"The idea that has been suggested recently that that will result in sort of crony banking where, you know, regions just look after their own in a modern regulated environment, is completely absurd."

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Is it just me or is the church becoming increasingly bold on infiltrating the state? The media seems to have taken a sudden interest in what these crooks say, despite no one other than senile old biddies giving a damn...

Even the church seems bothered by GDP. Guess their goldman sachs holdings arent appreciating enough for the old farts to retire in style.

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Is it just me or is the church becoming increasingly bold on infiltrating the state? The media seems to have taken a sudden interest in what these crooks say, despite no one other than senile old biddies giving a damn...

Even the church seems bothered by GDP. Guess their goldman sachs holdings arent appreciating enough for the old farts to retire in style.

Wouldn't the CofE want to see the price of land to be kept as high as possible, esp. as they are massive landowners? They like to trot out lines like this, but actually they want to keep the status quo? and the amount of dough they have invested in shares etc. must be enormous...

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The C of E is the Tory Party at prayer so it sounds like, IMPO, the Govt is using him to let us all know that things are not going to get better for a long time.

Or he has been to one of those dinners to which the great and powerful are invited... and over-heard some interesting economic info about how dire things are...

Edit:

What I mean is - we should not dismiss this as there is probably some political connection behind the reason why he is saying this now.

Edited by The Masked Tulip

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I wander thro' each charter'd street,

Near where the charter'd Thames does flow.

And mark in every face I meet

Marks of weakness, marks of woe.

In every cry of every Man,

In every Infants cry of fear,

In every voice: in every ban,

The mind-forg'd manacles I hear

How the Chimney-sweepers cry

Every black'ning Church appalls,

And the hapless Soldiers sigh

Runs in blood down Palace walls

- Will Blake

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Is it just me or is the church becoming increasingly bold on infiltrating the state? The media seems to have taken a sudden interest in what these crooks say, despite no one other than senile old biddies giving a damn...

Even the church seems bothered by GDP. Guess their goldman sachs holdings arent appreciating enough for the old farts to retire in style.

I appreciate the church has less influence recently but the archbishop of cantebury has long commented on society and its ills. Its part of what the church has always done.

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I appreciate the church has less influence recently but the archbishop of cantebury has long commented on society and its ills. Its part of what the church has always done.

It just sounds to me that they want the economy to be like it was in 2006. GDP inflated through property speculation, probably so their property portfolio is more valuable.

Just because they sugar coat their message in touchy feely propaganda, it doesnt change the fact that the C of E has never done anything other than exploit people and abuse children.

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Is it just me or is the church becoming increasingly bold on infiltrating the state? The media seems to have taken a sudden interest in what these crooks say, despite no one other than senile old biddies giving a damn...

Even the church seems bothered by GDP. Guess their goldman sachs holdings arent appreciating enough for the old farts to retire in style.

The C of E by its very nature can not 'infiltrate the state' since it is has been legally incorporated as part of it from the time of the Act of Supremacy in 1534

http://en.wikipedia.org/wiki/Act_of_Supremacy

Hard a it is for people to understand in our irreligious age there once was a time when Archbishop of Canterbury carried as much political clout as any other Minister of the Crown. There are not many jobs or institutions in the UK that have a continuous record going back to the very beginning of the 7th Century. In fact it has been a national institution as long as the monarchy itself

What the current incumbent says about the City probably counts a lot more than his more academic predecessor as Justin Welby is definitely a well connected establishment insider

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A religious cult appears to have more credibility than a democratically elected government

Compared to the crimes committed by religion, I think depression is favorable thank you.

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It just sounds to me that they want the economy to be like it was in 2006. GDP inflated through property speculation, probably so their property portfolio is more valuable.

Just because they sugar coat their message in touchy feely propaganda, it doesnt change the fact that the C of E has never done anything other than exploit people and abuse children.

And yet, still no real convictions. This particular peado ring appears to have the endorsement of some very powerful people. They need to be hunted down, and this organisation to face the justice of 2013, not the middle ages

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Just because they sugar coat their message in touchy feely propaganda, it doesnt change the fact that the C of E has never done anything other than exploit people and abuse children.

Would you class the foodbanks currently cropping up in urban churces as exploting or abusing people?

Edited by macfarlan

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Would you class the foodbanks currently cropping up in urban churces as exploting or abusing people?

I would. It's highly probable most food has been laced with some kind of laxative or rohpnol. Religion has been screwing people since inception.

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I would. It's highly probable most food has been laced with some kind of laxative or rohpnol. Religion has been screwing people since inception.

Foodbanks deal largely with dried foods donated from shoppers in supermarkets, and stock nearing sell by date from large stores, which would make the kind of practice you suggest pretty difficult. Youre either extremely paranoid or trolling.

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Foodbanks deal largely with dried foods donated from shoppers in supermarkets, and stock nearing sell by date from large stores, which would make the kind of practice you suggest pretty difficult. Youre either extremely paranoid or trolling.

FB's prefer long life tinned and dried food...They will take small amounts of fresh stuff, although larger amounts can be bugger to get rid of (or store it)...Indeed..Sammysnake is talking cobblers...

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Wouldn't the CofE want to see the price of land to be kept as high as possible, esp. as they are massive landowners? They like to trot out lines like this, but actually they want to keep the status quo? and the amount of dough they have invested in shares etc. must be enormous...

Dave. I think hes spot on; citys culture of entitlement needs addressing, regulation & restructuring needed to avoid too big to fail, city need to contribute more to 'the common good'. Its all typical of what someone in his position should be saying, and he says it well.

Edit. Theyre so rich theyre unlikely to be affected by anything other than seismic.

Edited by macfarlan

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Dave. I think hes spot on; citys culture of entitlement needs addressing, regulation & restructuring needed to avoid too big to fail, city need to contribute more to 'the common good'. Its all typical of what someone in his position should be saying, and he says it well.

Edit. Theyre so rich theyre unlikely to be affected by anything other than seismic.

All it takes is a few bribes for a few gigabytes of data and the Names to poorly paid banker staff on their precious stash offshore island hideaways!

Havent seen anything for a few weeks since the last whistleblow data release

- they are probably using it to corrupt certain people in high up places for their own deceptions and manipulation

Edited by erranta

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Wouldn't the CofE want to see the price of land to be kept as high as possible, esp. as they are massive landowners? They like to trot out lines like this, but actually they want to keep the status quo? and the amount of dough they have invested in shares etc. must be enormous...

Interesting point. What does the C of E do with its income?

It has its own administration to pay for, stipends for clergy, maintenance of its real estate and so on. But I'm guessing that its income from investments must be substantial. I'm disregarding the weekly collection boxes from dwindling congregations as I don't think that will amount to much, I could be way off beam of course.

I can recall in the past seeing various local campaigns for donations to repair old church buildings and reading about chancel repair covenants on properties close to churches being enforced at enormous cost to the unfortunate owners. So the church clearly don't (didn't) rely on their own resources for repairs to their buildings.

I also have an impression that their real estate is managed on a commercial basis with full legal recourse used to recover rent arrears and such like.

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Interesting point. What does the C of E do with its income?

It has its own administration to pay for, stipends for clergy, maintenance of its real estate and so on. But I'm guessing that its income from investments must be substantial. I'm disregarding the weekly collection boxes from dwindling congregations as I don't think that will amount to much, I could be way off beam of course.

I can recall in the past seeing various local campaigns for donations to repair old church buildings and reading about chancel repair covenants on properties close to churches being enforced at enormous cost to the unfortunate owners. So the church clearly don't (didn't) rely on their own resources for repairs to their buildings.

I also have an impression that their real estate is managed on a commercial basis with full legal recourse used to recover rent arrears and such like.

Here's a breakdown http://www.churchofengland.org/about-us/facts-stats/funding.aspx

They claim to have expenses of a £1bn quid a year, and they're sitting on assets of £4.4bn.

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A religious cult appears to have more credibility than a democratically elected government

Compared to the crimes committed by religion, I think depression is favorable thank you.

I think you will find that there is good and bad in all sectors inc religions and politics, bad apples everywhere.....some look clean and fresh until you turn them over and see it for what it really is rotten to the core. ;)

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He must be talking about RBS, so I doubt he denied it - probably just refused to confirm.

Has to happen, just a question of when.

Welby is interesting - he's made a few veiled criticisms of the city, but I wonder if that will be tolerated. Definitely not the Tory party at prayer.

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Is it just me or is the church becoming increasingly bold on infiltrating the state? The media seems to have taken a sudden interest in what these crooks say, despite no one other than senile old biddies giving a damn...

Even the church seems bothered by GDP. Guess their goldman sachs holdings arent appreciating enough for the old farts to retire in style.

Don't forget that the Archbishop of Canterbury is the spiritual leader of some 85 million Anglicans worldwide, making him the head of the third largest Christian denomination in the world. That's an awful lot of 'senile old biddies.'!

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  • 242 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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