Sunday, October 25, 2009

A lunatic hell-bent on going out with a big bang

Recession will be over by Christmas, says Brown

'Gordon Brown gave the ultimate hostage to fortune this morning by stating categorically that the British economy would be growing again by the turn of the year. With economists and Downing Street staggered by Friday's figures showing that the country is still in in the grip of a recession, Mr Brown tried to go back on the offensive by telling people they would not have long to wait for a recovery.'

Posted by hpwatcher @ 12:52 PM (2356 views)
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19 thoughts on “A lunatic hell-bent on going out with a big bang

  • gone-to-colombia says:

    Yes, yes dear, now let me tuck you in, need a bed pan? You have taken your medicine, haven’t you?

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  • brickormortis says:

    Was it not supposed to be over before the weekend?

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  • Nothing has changed except QE.

    We are one step behind step one.

    I despair!

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  • ‘recession will be over by Christmas’
    So we’re gonna be stuck with the turkey till then!

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  • Between this and Cameron’s star dust I’m starting to doubt my sanity.

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  • stillthinking says:

    How exactly would this recovery handle a 10% reduction in government spending?

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  • Gordon brown is an absolute disgrace, he uses the main stream media to manipulate public perception but thanks to the internet this ploy is gradually being exposed for the lie it is.

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  • The economy may well see a small increase in output in Q4 relative to Q3 but it means nothing in terms of the reality people face. Even a 0.5% rise in Q4 will do little to make up for the loss of output in this recession which currently running over 5%. So to declare that everything is going to back to normal when outputs stops contracting is very misleading. Unemployment will continue to to rise and once you factor in the actions that need to be taken to pay for the spending and the banks bailouts, it wont be to long until we go back into negative growth.

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  • The receovery is always six months away.

    Two years and counting …

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  • Whatever you hear about the recession, it is all framed in terms of ‘waiting’ for it to end as though recession ends just come along like the number 9 bus and all you have to do is wait.

    Nobody has described the process of a recession as a sequence of distinct events have they? The things that have to happen along the way, the things that have to be ticked off for us all to get better. And because they don’t know what that is that makes it better, they don’t know what they have to do. They act if they can just make the wait until the number 9 bus comes along as comfortable as possible, we won’t notice…but we may also not be curing ourselves of what needs to be cured.

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  • It would be surprising, I would have thought, if there wasn’t some sort of temporary upturn in the last 3 months of the year corresponding to a Christmas surge, however weak that may be. January though should be dire, again.

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  • It amazes me that we have literally poured money into the system and it still hasn’t generated even an artificial recovery. For me this shows just how deeply the UK had gotten into the hole… QE seems to have done the trick in most other places to stimulate growth (real or artificial), but we keep shovelling it in and the hole seems to get ever deeper…

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  • bingo said ‘It amazes me that we have literally poured money into the system and it still hasn’t generated even an artificial recovery’

    It HAS done what was intended which was to provide a constant purchaser of Government debt (and thus avoid failed gilt auctions) and inflate asset prices. It cannot be admitted to be working too soon though because then it would have to be withdrawn and who would then buy Government debt, expected to be around 200 billion every year for the next three years?

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  • In 1914 it was said that WW1 would be over by Christmas.

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  • …and Hitler announced in the bunker in Berlin in April 1945 “I have the weapon in mind”.

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  • Gordon Brown obviously took the Blue Pill.

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  • tyrellcorporation says:

    Techincal recession over by Christmas? quite possibly but January, February will feel like you’ve been transported to the Gulag. Plenty of waffle about ‘Frugal Fatigue’ from various quarters in the States. This implies that people stopped spending out of some sort of irrational mood swing and nothing to do with the reality of crushing debt servicing, shrinking real incomes and a tax tsunami on the horizon.

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  • markj69 str05 says:

    A broken clock tells the correct time twice a day!

    Be careful, very careful of potential paty propaganda. Only the long term will tell. Wonder what effect the gen election will have?

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  • markj69 str05 says:

    ‘party’

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