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GDP 2.0% for 2016, final Quarter 0.6%

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the official release

 

https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/grossdomesticproductpreliminaryestimate/octtodec2016#uk-gdp-grew-by-20-during-2016

 

Meanwhile relating to this. Blanchflower explains to Neale why he f$$ked up his forecasts at 19 minutes. (starts at 12 minutes 30 seconds)

http://www.bbc.co.uk/iplayer/episode/b08c00mr/daily-politics-26012017

Edited by crashmonitor

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1 hour ago, interestrateripoff said:

The economy is booming!!!

Apparently we had the best year in the G7 for growth, so it's relative. But yep we have ran up public debt, Qe'd and kept rates at zero to achieve it . So it is a bit rich for Blanchflower to be now warning of doom eight years into a recovery. It is the fault of Central bankers that we have hundreds of billions of QE which may or may not be unwound and we are drowning in debt and will go into a crisis of Central Bankers making.

These bankers are so hooked on Qe that they couldn't resist even in a year that the UK performed number one in the G7 and eight years into a recovery. Rates should have started to rise at the very least.

Daily Politics from link above at 12 minutes 30

http://www.bbc.co.uk/iplayer/episode/b08c00mr/daily-politics-26012017

Edited by crashmonitor

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Gdp up 2.0% so that means the cronies gdp will be up astronomically.  

Not so much for everyone else compared to the debt they've all taken up/been allocated - and in gdp per capita terms it's probably pretty flat.

Edited by billybong

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3 minutes ago, EnglishinWales said:

I don't believe it.

Govt borrowing up. House prices up. Unsecured debt galloping away. Another £170bn under the table for the banksters...

Why wouldn't it be true?

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I tuned into radio 4 this morning, they were talking about the rising dollar against the weak pound. It was good news, great for British wine/spirits exports, the economy is doing well, Americans love drinking, business is booming for us.

I turned it off.

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4 hours ago, zugzwang said:

Govt borrowing up. House prices up. Unsecured debt galloping away. Another £170bn under the table for the banksters...

Why wouldn't it be true?

https://www.bloomberg.com/news/articles/2017-01-26/u-k-economy-dismisses-brexit-threat-as-growth-beats-forecasts

Last paragraph,Blomberg 'population rising'

Spend now as tommorrow it will be more expensive.

What could poss go wrong?

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5 hours ago, zugzwang said:

Govt borrowing up. House prices up. Unsecured debt galloping away. Another £170bn under the table for the banksters...

Why wouldn't it be true?

GDP gains are vanity, structural surplus is sanity.

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9 hours ago, mathschoc said:

I tuned into radio 4 this morning, they were talking about the rising dollar against the weak pound. It was good news, great for British wine/spirits exports, the economy is doing well, Americans love drinking, business is booming for us.

I turned it off.

I drank some Brtish wine once. Just once.

Well, thats an export sectorworh ... oh .... under £1m Id guess.

 

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15 hours ago, EnglishinWales said:

I don't believe it.

It's tangible, I have noted the improvement in Nottingham, for example, in terms of economic activity and infrastructure over the last decade. Of course, we borrowed that improvement entirely on National Debt. A bit like a family that bought a bigger house financed entirely on a larger mortage. 

C""ts like central bankers see that as a gain. I see it as standing still.

Edited by crashmonitor

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10 minutes ago, crashmonitor said:

It's tangible, I have noted the improvement in Nottingham, for example, in terms of economic activity and infrastructure over the last decade. Of course, we borrowed that improvement entirely on National Debt. A bit like a family that bought a bigger house financed entirely on a larger mortage. 

C""ts like central bankers see that as a gain. I see it as standing still.

Thing is most people think taking on more DEBT to move into a bigger house means they've "made money" on their old house. They might be right if exponential DEBT really is money now.

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15 minutes ago, EnglishinWales said:

I still feel poor though.

 

Naturally. Given the degree of indebtedness of the UK economy relative to GDP most of this new money will have been spent servicing existing debts. Debt service generates profits for bankers and landlords, who use those profits to inflate the price of assets and rents, which in turn allows for the generation of new loans. Very little is left over for productive investment. Unless you're a banker, a landlord, or own financial assets, you're unlikely to benefit.

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