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UK economy plunges into deepest recession since records began


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These are horrendous figures. Q2 has been a quarter where every major European country was in full lockdown. The Uk gov called it wrong, bloody wrong. 
No social life at all in France, Germany, Italy, Spain etc, no mortgages, no investments no people moving around using public transports, no one buying cars. 
HM’s Government and HM’s Opposition must be fully accountable for these numbers. 

Edited by NoHPCinTheUK
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We're at the start of the "no good news" phase. People have gorged out in the second week on a half price meal, are getting a bit bored of that scheme and looking around for more scraps, and will realise that a £5 meal doesnt really counteract the greatest economic slump ever. Best ignore the news for a year

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3 minutes ago, NoHPCinTheUK said:

HM Government and HM Opposition must be fully accountable for these numbers. 

The Opposition are not responsible for government policy. This is entirely the UK gov, and BoJo the clown who makes all decisions.

This is what happens when we elect an idiot who surrounds himself with other feeble minded idiots. 

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Sunak and a talking head on Sky News saying that we "need to get people spending again"......lol.

What is it with these people?  Pure fooking double standards, as on the one hand they need people to be able to service debt, pay mortgages and lose weight and on the other they are telling people to spend as much as you can, even if you can't afford or want to.

Things are getting really desperate for the Tories now.

 

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3 minutes ago, Peter Hun said:

The Opposition are not responsible for government policy. This is entirely the UK gov, and BoJo the clown who makes all decisions.

This is what happens when we elect an idiot who surrounds himself with other feeble minded idiots. 

I didn’t see any “opposition” at all to the official government Covid responses. Any Labour rising their hand against the Help out scheme, the stamp duty affair, any idea whatsoever of what could have been and could be done differently?

Edited by NoHPCinTheUK
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8 minutes ago, NoHPCinTheUK said:

These are horrendous figures. Q2 has been a quarter where every major European country was in full lockdown. The Uk gov called it wrong, bloody wrong. 
No social life at all in France, Germany, Italy, Spain etc, no mortgages, no investments no people moving around using public transports, no one buying cars. 
HM’s Government and HM’s Opposition must be fully accountable for these numbers. 

Some of our relative weakness is explained by us having the latest lockdown, meaning we had a higher Q1 to fall from.

But not all.

not sure how the Opposition can be to blame here though?!

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This is what happens when you don't make anything and rely on an economy of people buying things that they don't need. 

At some stage the music stops and you're fooked.

(and who could forget the buying and selling of worthless properties, in a massive ponzi scheme.)

Edited by Social Justice League
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5 minutes ago, scottbeard said:

Some of our relative weakness is explained by us having the latest lockdown, meaning we had a higher Q1 to fall from.

But not all.

not sure how the Opposition can be to blame here though?!

This is totally irrelevant. You need to add up the figures. First half of the year and the Uk is bottom of the league. The Eurozone is at -15% compared to Q2 last year. 

Edited by NoHPCinTheUK
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3 minutes ago, scottbeard said:

Some of our relative weakness is explained by us having the latest lockdown, meaning we had a higher Q1 to fall from.

But not all.

not sure how the Opposition can be to blame here though?!

BJ will no doubt start his "A responsible opposition would get behind the government" nonsense again at PMQs, whenever Starmer asks an awkward question.

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1 minute ago, Bruce Banner said:

BJ will no doubt start his "A responsible opposition would get behind the government" nonsense again at PMQs, whenever Starmer asks an awkward question.

Yeah Boris and co are digging their own graves.  All they need to do is keep going down this road and it will all be over for them.

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6 minutes ago, Social Justice League said:

This is what happens when you don't make anything and rely on an economy of people buying things that they don't need. 

At some stage the music stops and you're fooked.

(and who could forget the buying and seeling of worthless properties, in a massive ponzi scheme.)

The Germans meanwhile are questioning the merits of an export led economy when those you sell to are all in recession

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The Chancellor is giving some pathetic responses to these data. 
 

Who should spend? There are millions of people whose jobs have been wiped out, others may well be on the very thin line between employment and unemployment, 0 hours contract on the rise. 
 

Who should for fook sake buy what? 

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46 minutes ago, highcontrast said:

GDP falls 20.4% – the worst of any G7 nation in the three months to June

Shouldn't rely so much on services, retail and the housing market then perhaps?

 

Good point.....the industries we have in the past relied upon so much to boost our GDP have been shrinking.....could it be 20.4%......perhaps we should start thinking about diversifying, hedging our bets to spread the risks?;)

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22 minutes ago, Peter Hun said:

This is what happens when we elect an idiot who surrounds himself with other feeble minded idiots. 

This is what we deserve when we let ourselves be dummed down by Right Wing clowns that prefer style over substance, prefer rhetoric  and (preferably Latin) posh words over analysis, prefer token gestures instead of a thought out plan, and ultimately base their own ineptitude on TINA - the moral equivalent of a burglar justifying stealing your tv by saying 'at least I'm not p*ssing in your window box'.

7 minutes ago, NoHPCinTheUK said:

The Chancellor is giving some pathetic responses to these data.

Let us not forget the current Chancellor got his job because he is willing to serve the Tory Spin machine than his predecessor who wanted a modicum of independence.

14 minutes ago, rantnrave said:

The Germans meanwhile are questioning the merits of an export led economy when those you sell to are all in recession

The Germans do have a Trade surplus and are members of a large economic bloc that can go toe to toe with the largest in the world. Meanwhile, we have a Big Red Bus and a mouldy Rock Salmon.

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3 minutes ago, Bruce Banner said:

Capitalism? We have a socialist government.

Yeap Sunak and co are desperately trying to keep the wheels on rather than letting the market sort it out.

Same with the housing market.  They are taking the p1ss even calling themselves the 'Conservative Party' these days.

Edited by Social Justice League
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1 minute ago, Bruce Banner said:

Capitalism? We have a socialist government.

Don't taint Socialism with the sh*t show that is going on here.  Socialism has flaws, but they aren't the ones screwing us over now.

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36 minutes ago, NoHPCinTheUK said:

These are horrendous figures. Q2 has been a quarter where every major European country was in full lockdown. The Uk gov called it wrong, bloody wrong. 
No social life at all in France, Germany, Italy, Spain etc, no mortgages, no investments no people moving around using public transports, no one buying cars. 
HM’s Government and HM’s Opposition must be fully accountable for these numbers. 

Thats not actually true. 

Timing of lockdowns in and out was spread between Q1 and Q2 with varying degrees between france, Germany, italy, spain etc. 

Spain q1 plus q2 decline is larger than uk q1 plus q2 decline for example 

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  • 417 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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