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tomandlu

Osborne - The Uk Economy Is Leaving Intensive Care

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http://www.bbc.co.uk/news/uk-politics-23018465

"We are already making progress; the economy is growing, more than a million new jobs have been created by British businesses and the amount the government has to borrow each year - the deficit - is down by one third.

Glad the economy is in such honest, competent hands... not that Balls is any better:

Mr Balls said: "Instead of planning more cuts two years ahead, they should use this week's spending review to boost growth and living standards this year and next year.

"More growth now would bring in more tax revenues and mean our public services would not face such deep cuts in 2015."

So... if we borrow more, there's more money to tax?

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He doesnt actually say that the jobs created by British Businesses are actually in Britain.

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The economy has been surviving by living on debt.......borrow more and live better today, who cares about future payback time when it won't and can't be paid back once it has been spent on filling in the gaps and wallpapering over the cracks, without building solid foundations......all well and good but we are only a tiny piece of the rest of the big picture, the rest of the world......where would the prudent and productive choose to invest their hard earned money, in a place that fritters it away, patches things up, has little control, lives the high life on the back of others hard work without investing in long-term projects desperately required now to see out the future......there motto should be short-term quick fixes that never quite fix anything, good whilst it lasted, paid a few bills and wages at the time.

Trouble with politicians they want to be all things to all people and end up being nothing to nobody, to be quickly replaced before the ink has dried. ;)

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The economy has been surviving by living on debt.......borrow more and live better today, who cares about future payback time when it won't and can't be paid back once it has been spent on filling in the gaps and wallpapering over the cracks, without building solid foundations......all well and good but we are only a tiny piece of the rest of the big picture, the rest of the world......where would the prudent and productive choose to invest their hard earned money, in a place that fritters it away, patches things up, has little control, lives the high life on the back of others hard work without investing in long-term projects desperately required now to see out the future......there motto should be short-term quick fixes that never quite fix anything, good whilst it lasted, paid a few bills and wages at the time.

Trouble with politicians they want to be all things to all people and end up being nothing to nobody, to be quickly replaced before the ink has dried. ;)

current thinking though, is that the debt doesnt matter...it is, after all, simply made up....and they can make even more up by turning debt into actual assets that are reversed engineered in the shadow banking system into real boys.

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current thinking though, is that the debt doesnt matter...it is, after all, simply made up....and they can make even more up by turning debt into actual assets that are reversed engineered in the shadow banking system into real boys.

Debt doesn't matter when it is not paid back, you get the benefit of it without the hard work......it is more a confidence and trust thing......think of it like giving those with bad credit another credit card, something that was encouraged because many made lots out of people spending money they never had today at a high price and because of the cost had a high chance of not paying it back tomorrow....put it on the tab.

Lack of trust and confidence only means charging a higher price for credit, it is the charges that in the end that create the downfall.....that is the greatest fear. ;)

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Leaving intensive care for the morgue.

That £120Bn deficit just ain't going away.

:D

btw I wonder if that's code for IRs might rise, probably too much to hope for that any reality returns unless it's forced on them

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Watching Balls and Osborne this morning it reinforces my view of how politicians from whichever party simply move in the Westminster bubble which is detached from the real world in which we move.

They have moved from circulating and debating within the private school bubble to the Oxbridge bubble to the Westminster bubble. They are still schoolboy debaters and orators who have swopped the short trousers. There are no big ideas as to how to move the country out of the mire we are in. It is just a way of life to them of talk and posture with no real substance behind it all. 'They are all in it together'

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Things don't look that great around here. I noticed a discount freezer food place had closed down on my visit to the town centre. Even the charity shops are having sales.

Yep.

I've come down a couple of rungs and have discovered Aldi! (40% cheaper?) I'm off sick at the moment (stroke) but will return but only to work 2 days a week with benefits....

All in all I'll be a major drag on the economy, suspect I'm not alone.

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I like how we've gone from 2009's "green shoots" to 2013's discussion about which ward we are in at the hospital. Fast forward another four years and we'll have a Chancellor of the Exchequer telling us he's so confident we're turning the corner that he's stopped stockpiling tins of beans.

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He doesnt actually say that the jobs created by British Businesses are actually in Britain.

low grade / min wage jobs

temp jobs

marginal self employed/ tax credit jobs due to jobcentre bullying.

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low grade / min wage jobs

temp jobs

marginal self employed/ tax credit jobs due to jobcentre bullying.

Yes id love to see the amount of increase in tax credit costs here.I know several people who have claimed self employed to avoid the jobcentre and claim tax credits.

Cant see the tax base increasing but I can see the benefit bill still shooting up .Great recovery.

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Things don't look that great around here. I noticed a discount freezer food place had closed down on my visit to the town centre. Even the charity shops are having sales.

They can't give it away? ;)

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Yes id love to see the amount of increase in tax credit costs here.I know several people who have claimed self employed to avoid the jobcentre and claim tax credits.

Cant see the tax base increasing but I can see the benefit bill still shooting up .Great recovery.

The job centre has been pushing the above for a long time now ,and it`s one of the reasons for the increasing benefit bill when unemployment has decreased

Like yourself I know several that has done the same and in one case they are actually receiving more on WTC than they were getting on JSA

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We are 5 years into an economic cycle that vacillates over a period of about 7-10 years. In theory we are at the top of the cycle and growth has flat lined.

We could enter into another dip as early as 2015 (maybe as late as 2018) with enormous aggregate levels of debt (approx. 500% of GDP), interest rates at 0.5%, and so far £375 Billions worth of asset purchases by the BOE.

The politicians optimism and ability to delude themselves would make great comedy if it were not for the fact that we are all going to suffer the consequence of the next bout of lunatic economic intervention that gets dreamed up (and I think it's going to be epically bonkers as the usual response of making money ever cheaper has finally stopped masking our problems) as we head into the inevitable down turn.

Edited by GradualCringe

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low grade / min wage jobs

temp jobs

marginal self employed/ tax credit jobs due to jobcentre bullying.

Yup! all hype they think they got us to talk ourselves into a recession, now they realise things are genuinely bad they are trying to talk us out of one.

Well it ain't gonna work.

Headlines in our local rag yesterday.

"JOBS BONANZA ON THE WAY"

It's about a new Sainsburys that is due for completion in October. It is only some 500 meters away from Morrisions.

Whoopee! now I can buy twice as much food.

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Yup! all hype they think they got us to talk ourselves into a recession, now they realise things are genuinely bad they are trying to talk us out of one.

Well it ain't gonna work.

Headlines in our local rag yesterday.

"JOBS BONANZA ON THE WAY"

It's about a new Sainsburys that is due for completion in October. It is only some 500 meters away from Morrisions.

Whoopee! now I can buy twice as much food.

...at half the price. ;)

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The chancellor, due to outline £11.5bn of savings across Whitehall in his spending review on Wednesday, added the economy was "out of intensive care".

That's intensive care :o

Thank goodness he doesn't run a hospital.

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  • 246 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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