Tuesday, Dec 05, 2006

Are we happy with the state of the economy? apparently most people are...

The Times Online: Brownie points: Britons stand alone in praising the economy

On the eve of his final Pre-Budget Report, there is some sensational news for Gordon Brown. Although the Chancellor always maintains that he has been doing a great job and that the UK economy is in fine condition, most Britons now believe him. In a seven-country survey, only British respondents said by a majority that they were satisfied with the state of their economy, albeit by only 48 to 47 per cent.

Posted by jellycaster @ 04:15 PM (442 views)
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1. tyrellcorporation said...

Most people own a house and have a job - but that ratio is changing daily.

Tuesday, December 5, 2006 07:01PM Report Comment

2. Nohpc said...

I am completely satisfied with the economy. I have a house, a job, and dispensible income and I am in NZ working for a year. A lot of people are in similar positions so why would they not be happy? If things change and people lose their homes and jobs I'm sure the figure would plummet but at the moment the economy is shining.

Tuesday, December 5, 2006 07:30PM Report Comment

3. denzil said...

The British people are happy with the highest tax burden since the early 70's. Manufacturing at an all time low. Pointless jobs being created en masse for Polish migrants picking spuds and the like. False sense of wealth being created through MEW and pointless HPI. Remove high migration and imaginery wealth created through MEW and how good does Gordon's economy look? For a thousand or so bankers working in the city it looks good because a large proportion British economy is built on borrowed money. Brown is an insult to the history of the Labour party and what it is supposes to stand for. You can throw Blair and his illegal and mis-judged war into the equation too. It's fair to say the my skin does not crawl as much looking at Blair as it does Brown. Everything about the bloke is repugnant.
Rant over!
Thank you.

Tuesday, December 5, 2006 07:36PM Report Comment

4. paul said...

"albeit by only 48 to 47 per cent".

Hang on. I smell a rat here.

Very dissatisfied with economy: 28%
Dissatisfied with economy: 25%
Satisfied with economy: 47%
Very satisfied with economy: 0%

And according to this survey, the majority are "satisfied with the economy".

Yeah right.

Tuesday, December 5, 2006 07:44PM Report Comment

5. paul said...

They've also carefully omitted the source of the survey.

In other words it's tripe.

Tuesday, December 5, 2006 07:45PM Report Comment

6. tyrellcorporation said...

NoHPC, you do make me laugh. You're living the expat lifestyle in NZ!!! My guess is that when it comes to your return flight, you'll be clinging to the boarding gate screaming until your lungs bleed not to be sent back... lol! ;)

Wednesday, December 6, 2006 08:30AM Report Comment

7. george monsoon said...

I read somewhere that NZ has the highest suicide rate anywhere on earth. Is this because they bury their heads in the sand until it's too late?

Wednesday, December 6, 2006 08:38AM Report Comment

8. waitingfor hpc said...

load of tripe - this economy is a sham. People choose not to see it. It is going to end in tears when the lies are shown up as what they are. And liars are always caught out in the end. Mr Brown is the second biggest liar only passed by Blair.

Wednesday, December 6, 2006 09:17AM Report Comment

9. waitingfor hpc said...

had a meeting in the city yesterday (London). The people I met where complaining they were working alongside people paying no tax as they are foreigners working here. They addedd that Gordon has changed the rules to make the UK a tax free/very low haven for foreign money.
How is this right when he taxes the UK residents to buggery and what about Nu Labour and it's principles?

Wednesday, December 6, 2006 09:19AM Report Comment

10. monty said...


I'm not sure what you're smelling here but it's not a rat.

The article mentions that the source of the survey was the result of "a detailed questionnaire to 1,000 people in the UK for the German Marshall Fund, the US-based think-tank".

The actual survey results are here
at the bottom of the page under the link "Topline Data".

The results for the question "And thinking about the economy in UK, overall, are you satisfied or dissatisfied with the way things are going with the economy today?" were Satisfied 48%, Dissatisfied 47% and Don't know/refused 4%.

More telling were the results of the first question "In general, are you satisfied or dissatisfied with the way things are going in UK at this time?" which were Satisfied 38%, Dissatisfied 56% and Don't know/refused 6%.

I'm sure you can leap to your own conclusions.

Wednesday, December 6, 2006 09:20AM Report Comment

11. jellycaster said...

Paul... I was also surprised to see the source of the survey ommited. However, 47% could be classed as the majority a large number of people if there is a large numer of abstentions, eg

satisfied 47%
dissatisfied 40%
don't know/neither 13%

Wednesday, December 6, 2006 10:58AM Report Comment

12. jellycaster said...

Sorry... that should read;

Paul... I was also surprised to see the source of the survey ommited. However, 47% could be classed as the majority if there is a large numer of abstentions, eg

satisfied 47%
dissatisfied 40%
don't know/neither 13%

Wednesday, December 6, 2006 10:59AM Report Comment

13. the bald man said...

The economy is a total illusion built on borrowed money. When debt reaches saturation level teh whole pack of cards will fall over. No pensions, borrowed up to the hilt. We will all be paying for this for a long time.

Wednesday, December 6, 2006 11:35AM Report Comment

14. Chillilizard said...

Reading that survey


I'd be supprised if anyone at any time managed to draw any usefull conclusions from it. The first two questions are the same but worded differently, and the results conflict. The rest; I don't understand.

Another example of reporters selling their integrity to grab headlines, I think.

To NoHPC: Tubes fares are going up again. Also, very interesting article in the Economist: about gov subsidizing the privatized rail network to the tune of 56%. And MPs are giving themselves a raise of 66% (hell - so much for Brown's urging the City to cut back on wage inflation). I could go on... In any event, if I were in NZ earning pounds, like alot of people, I would be completely satisfied too.

Wednesday, December 6, 2006 12:24PM Report Comment

15. paul said...


We won't know the true contents of this "survey".

The fact that they don't talk about the sampled size, options presented or breakdown of the answers means that I'm more likely correct than you though I think.

Wednesday, December 6, 2006 12:56PM Report Comment

16. paul said...

Sorry, I am corrected - monty's found it.

And as we suspected, the Times paints a deceptively upbeat picture of the results.

A bit like yourself jelly?

Wednesday, December 6, 2006 12:58PM Report Comment

17. Cstanhope707 said...

Mr NoHPC I am sure you are satisfied with the economy so are many others but eventually the price has to be paid when all this credit is maxed out and no more is available. Also this economy is built on pure fabrication it is not built on Productivity gains, lower taxation or UK PLC actually creating anything accept debt....

The first sign will be a bad Christmas Retail season this will mean that as I say people are maxed out on credit. Also it will get to the stage when all the money is going to the mortgage, essentials and paying those loans and credit card bills. This means no available money to spend on otehr goods and services, which leads to something called a Recession, these do exist. Unfortunalty this country did not have one and now it is too late and we will get another Great Depression instead caused primarily by Out of Control Public Sector spending and "slack" monetory policy.

But hay bring it on keep borrowing kiddies I will be marching in buying up "distressed" housing stock in a couple of years. And I will be brutal particularly if it is a BTL, I will insist on the Cooker, light fiting fridge etc staying they will be so desparate to sell...

Wednesday, December 6, 2006 01:03PM Report Comment

18. harold said...

the economy?

8 out of 10 owners said their cats prefered it.

Wednesday, December 6, 2006 05:04PM Report Comment

19. This comment has been removed as it was found to be in breach of our Blog Policies.


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