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Lord Turner: Uk Economy Is Like 90S Japan

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http://www.telegraph.co.uk/finance/economics/10629207/Lord-Turner-UK-economy-is-like-90s-Japan.html

Lord Turner has warned that the UK has failed to rebalance its economy and is simply repeating the errors made in the run-up to the 2007/8 financial crisis.

The self-styled technocrat, who was chairman of the City regulator until last April, likened the domestic economy over the last five years to Japan in the 1990s.

The former Financial Services Authority chief - who made it on to the shortlist to replace Lord King as Governor of the Bank of England - said that although the economy was now showing obvious signs of growth, there was the potential that it will not be sustained due to the continued build up of credit in the system.

“The concerning thing about the UK economy is that from 2009 until early last year, a lot of the debate was around the need to rebalance, from being over focused on financial services and the housing market,” Lord Turner told The Telegraph.

“In the last year we've started to grow again, but it's all down to consumer expenditure and real estate again. In the UK we haven't got the answers to rebalance the economy.

Amazing now he's out of the "system" he sees flaws.

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i suppose it's partly being protected from that insular bubble in the first place that makes these guys totally oblivious to the raging inferno going on around them.

step outside sunshine.....it's lovely and warm.

and erm..uk is nothing like 1990's japan.

japan actually kept hold of their manufacturing base, while we have completely decimated ours(deliberately..as w know)

.....so it is not a matter of coincidence, it is a matter of design and calculation.

which actually if the perpatrators are uk citizens and actively engaged in the intentional economic dismatlement of this country.

....is called treason.

outside the uk it's called sedition.

(you will never ever hear the puppet masters behind this call it that though.....they are religeous nut-jobs every bit as fanatical as bin laden...and in their eyes we NEED to be disposessed of everything because we are heretics and need to be spiritually purified,in order to bring us to repentance)

they, however will still be sitting in their golden chalice-laden palaces playing "holier than thou"

spot the hypocrisy.

...their turn is coming,...and it boomerangs back with double force.

Edited by oracle

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I thought it was pretty clear that demographics would dictate this, passing on the debt slowly to unexpectant generations

Just going to be a moribund economy lacking on dynamism for 20 years whilst stupid boomers hold on to zombie companies and zombie middle management jobs And practices

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I thought it was pretty clear that demographics would dictate this, passing on the debt slowly to unexpectant generations

Just going to be a moribund economy lacking on dynamism for 20 years whilst stupid boomers hold on to zombie companies and zombie middle management jobs And practices

It's Japan!

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