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Everything Is Awesome - Uk Economy Grows At Fastest Rate For Nine Years

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The previous peak being general election year 2005.

The intermediate peak? 2010, of course!

They must think we were born yesterday.

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Brilliant. If there were one chart that shows the Depression the UK has been in, it is this one. Services can be boosted by artificial money, government spending and a devalued currency. Proper stuff is harder....

k0sdj8.jpg

Services!? basically they mean EA's! :P

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Britain is booming with pound/discounter shops. Britain is booming with zero hour contracts. Britain is booming with cheap migrant labour. Britain is booming with national debt. Britain is booming with number of people renting. Britain is booming.

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Services!? basically they mean EA's! :P

Brilliant. If there were one chart that shows the Depression the UK has been in, it is this one. Services can be boosted by artificial money, government spending and a devalued currency. Proper stuff is harder....

k0sdj8.jpg

The interesting thing that this graph shows is that the growth in the real economy was choked off when the coalition got into power.

One thing I do not understand about the election is that Labour just sit there mute and are letting the Tories claim that Labour will wreck their 'economic miracle' when the obvious fact was that Osborne's original 'Plan A' scuppered real growth and gave us the slowest recovery for centuries.

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ONS release this morning: UK labour productivity fell 0.2% between Q3 and Q4 2014.

Productivity basically flat between 2013 and 2014, and still lower than 2007.

UKLabourProductivity_Q4_2014.gif

http://www.ons.gov.uk/ons/dcp171778_397326.pdf

Even running an echo housing bubble of ~8%/yr, a primary deficit of ~7%/yr and a current account deficit of ~6%/yr concurrently has been insufficient to close the gap on 2007. Quite remarkable.

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Even running an echo housing bubble of ~8%/yr, a primary deficit of ~7%/yr and a current account deficit of ~6%/yr concurrently has been insufficient to close the gap on 2007. Quite remarkable.

Yep. I wonder why anybody is investing in the UK.

We've gone from a nation of shopkeepers to a payday loan nation.

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Britain is booming with pound/discounter shops. Britain is booming with zero hour contracts. Britain is booming with cheap migrant labour. Britain is booming with national debt. Britain is booming with number of people renting. Britain is booming.

Think of all those that are in fact really booming because of the above........

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...so I think if you strip out the increase in imputed rents (as Peston pointed out), real household disposable income is back at 2005 levels.

If you trust the inflation figures.

If you trust the population estimates.

Excellent.

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The interesting thing that this graph shows is that the growth in the real economy was choked off when the coalition got into power.

One thing I do not understand about the election is that Labour just sit there mute and are letting the Tories claim that Labour will wreck their 'economic miracle' when the obvious fact was that Osborne's original 'Plan A' scuppered real growth and gave us the slowest recovery for centuries.

Labour are very quiet on a lot of things regarding the economy because if in power they would be following similar policies and if they get in power they'll be doing more or less the same. So they can't be that overtly antagonistic to what's really happening. In other words they are as effective an opposition as the Conservatives were when NuLabour was in power - totally ineffective and mainly because they like the policies that the string pullers like.

The radio news covered the subject yesterday and Cameron/Osborne were bragging about growth and Milliband was saying it's not good enough.

Only Farage came out with the truth - that the growth figures are as a result of massive debt.

Edited by billybong

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Labour are very quiet on a lot of things regarding the economy because if in power they would be following similar policies and if they get in power they'll be doing more or less the same. So they can't be that overtly antagonistic to what's really happening. In other words they are as effective an opposition as the Conservatives were when NuLabour was in power - totally ineffective and mainly because they like the policies that the string pullers like.

The radio news covered the subject yesterday and Cameron/Osborne were bragging about growth and Milliband was saying it's not good enough.

Only Farage came out with the truth - that the growth figures are as a result of massive debt.

Vince Cable said as much today though he was more subtle. He stated that as soon as Gidiot/Coalition saw that growth was slowing down he/they eased off on the austerity.

In other words he borrowed like fook to trick the dumb electorate.

Edited by Drained

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Vince Cable said as much today though he was more subtle. He stated that as soon as Gidiot/Coalition saw that growth was slowing down he/they eased off on the austerity.

In other words he borrowed like fook to trick the dumb electorate.

No doubt he phrased his words like that (disguised and pretending no responsibility) because the Libdems supported the policy in their role as coalition partners.

Now with the general election in the offing they were only responsible for the good bits (that's if there were any) and had nothing to do with what they think might be called the bad stuff.

Call it subtle if you like - I call it blatant.

Edited by billybong

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Vince Cable said as much today though he was more subtle. He stated that as soon as Gidiot/Coalition saw that growth was slowing down he/they eased off on the austerity.

In other words he borrowed like fook to trick the dumb electorate.

A clever plan because the credit card / HP rent-a-car loving masses will see it as a good thing.

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The interesting thing that this graph shows is that the growth in the real economy was choked off when the coalition got into power.

One thing I do not understand about the election is that Labour just sit there mute and are letting the Tories claim that Labour will wreck their 'economic miracle' when the obvious fact was that Osborne's original 'Plan A' scuppered real growth and gave us the slowest recovery for centuries.

This!!!

Why is Ed Balls not shouting 'current account deficit' from the rooftops?

They're complicit with their silence.

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Brilliant. If there were one chart that shows the Depression the UK has been in, it is this one. Services can be boosted by artificial money, government spending and a devalued currency. Proper stuff is harder....

k0sdj8.jpg

Yeah data such as productivity , current account deficit, and business investment looked poor but GDP gets headlines. To hold it together as property transaction volumes are still not taking off IMO every budget will need some kind of housing market support measure. The new htb ISA I will suspect need to increase at a huge cost and stamp duty changed again.

Edit: driving growth off housing market and then subsidising it creates a massive decision problem but I suppose for someone else. What was the last tory one mortgage interest ?

Edited by Ash4781

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Per capita numbers, in real terms:

UKEA_Q4_2014.gif

Be very interesting to see what per capita GDP looks like with anyone worth over 5 million stripped out.

The foreign billionaires in London alone must warp GDP per capita considerably.

We really need a measure of GDP per capita for the 99% now and another for the 1%.

If you just remove the 73 London billionaires Boris was alluding to the other day, that effectively makes GDP per capita instantly around £1250 lower for everybody.

Utterly utterly mad.

Apply Tory math to that, and they make us all £6250 poorer!

Edited by byron78

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As GDP is everything apparently, then can somebody link the GDP growth league tables for Europe 2010-2015. We've been watching the performance but have no idea of where we stand. My guess is we would be top, certainly amongst the large countires with Germany just behind and Spain, Italy and France trailing badly.

Not that I'm crowing about being top dog...we have gotten there by doubling the debt, something the aforementioned countries didn't resort to.

And indeed if we have had the fastest growth and the lowest jobless totals by far what the f**k are the left moaning about. Osbo hasn't even touched austerity, we have never run less than a 7% deficit.

The sad thing is that the UK public honestly believe living beyond your means is austerity and that pensions and the NHS just come from the magic money tree.

Edited by crashmonitor

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