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Ash4781

Is The Uk In Recession ?

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I'd say that we have been since January.

The trick of politicians and economic sages is not admit to things until after the event, as this limits the panic and sharpness of the down turn.

If they said, in 6 months we'd be in recession everyone would panic and make a disorderly exit. This way, people say, "oh we've been in recession, I guess its not that bad as I'm still alive" and they can then start looking forward to the recovery.

Of course this time round, there is yet worse to come.

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I'd say that we have been since January.

The trick of politicians and economic sages is not admit to things until after the event, as this limits the panic and sharpness of the down turn.

If they said, in 6 months we'd be in recession everyone would panic and make a disorderly exit. This way, people say, "oh we've been in recession, I guess its not that bad as I'm still alive" and they can then start looking forward to the recovery.

Of course this time round, there is yet worse to come.

I agree and I suspect the political market with the NuLabour meltdown may be a more reliable guide to this than many economists.

Labour have been bombing in the polls for at least two consecutive quarters. :lol:

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I voted 'no' because we're in a depression.

We have been in a recession for the last 7 years though.

I read your first sentence and thought "At last! I can (partially) agree with something IRS says".

Then I read your second line and thought "What a load of rubbish!" :rolleyes::rolleyes::rolleyes:

Edited by 1929crash

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...definition of recession is : A period of general economic decline; specifically, a decline in GDP for two or more consecutive quarters.

..haven't got the figures to hand ..but must be just about spot on now.... <_<

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I voted 'no' because I was going by the technical definition of recession.

We are not in recession, then. We are in a slump. I take it there's no technical definition of 'slump'.

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...definition of recession is : A period of general economic decline; specifically, a decline in GDP for two or more consecutive quarters.

..haven't got the figures to hand ..but must be just about spot on now.... <_<

GDP has been contracting in real terms for at least 7 years.

If you're waiting for the official Gov't (ie.fudged) figures to point to a recession then you may be waiting for some time. Possibly forever.

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So you think we've gone straight from an era of growth to a depression with no recession in between?

It's known as 'Flipping' :D

sorry, I couldn't resist

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So you think we've gone straight from an era of growth to a depression with no recession in between?
No I partially agreed becauseĀ  a recession is in the same growth direction as a depression. I think we're in a recession.But your idea that we've been in a recession for seven years makes me think you've been locked up in prison, in solitary confinement or something. Guantanamo Bay perhaps? :rolleyes: Edited by 1929crash

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No I partially agreed because a recession is in the same growth direction as a depression. I think we're in a recession.But your idea that we've been in a recession for seven years makes me think you've been locked up in prison, in solitary confinement or something. Guantanamo Bay perhaps? :rolleyes:

Even worse: Airstrip One :lol:

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A recession can be defined as a technicality as per government figures etc. So no not yet. However the concept of a recession to the government and big business is a totally different animal to what the average or more likely the beneath financial average person would experience. On both counts we are not by any measure in a recession yet. It really doesn't feel like one, a bit of a down turn maybe but in real recessions you know it, this is barely a minor sniffle in comparison to full on, layed up in bed flu. Every job advertised will be mobbed by around 200 - 2000 applicants, businesses will be laying off thousands every week, almost no businesses will be taking on any new employees. As for those in work, you will be getting your ar*se kicked from one end of the office to the other (or workshop etc) and you'd better smile while being kicked also, in fact the very worst side of your managements psychopathy will make your life a total hell, and the best bit is, you will have no where else to go. You will be cr*pping your self as to how long before you lose your job, dito your partner and it was very common in the last 2 recessions for both partners to be layed off and out of work. I know two couples who lost their jobs in the last recession and subsequently their houses, one couple who still haven't recovered financially. Those walking round now with self satisfied looks on their heads sprouting tripe about how they will just take any job when tshtf are dreaming, the last thing a McManager wants for his new McEmployee is someone with brains who has done a proper job previously and to top it off these are the jobs that will go first in big numbers. I and partner both lost jobs and ended up with far less pay than we had been on, took 2 years to get a new full time job for myself and 18 months for my partner, this burnt up our house deposit we had spent 5 years or so saving for. ( who says baby boomers had it on a plate? fk me!) in all put us back by around 7 years. Long way from this stuff yet but suspect we are headed there barring some sort of miracle, and you will know it, in big capital letters when we are there.

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Who are the 17 voters who say we are not in a recession? Are they all of the view that we are in a depression or do some believe we are in a boom? :unsure:

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  • 399 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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