UK austerity facing possiblity of triple-dip recession

[her209]

http://www.guardian.co.uk/business/2013/apr/04/services-data-uk-triple-dip-recession-pmi

The analysts are predicting that UK may have narrowly avoided a triple dip due to gains in the service sector, if you are to believe what they say. But why is the UK even facing the prospects of a triple dip?

Also, IANAE, but continued shrinking in the construction and manufacturing sectors of your economy cannot be a good thing in the long run, right?

http://www.guardian.co.uk/business/2013/apr/02/uk-manufacturing-slowdown
http://www.guardian.co.uk/business/2013/apr/03/uk-construction-pmi-shrinks-third-month

 

[monovillage]

“The problem with socialism is that you eventually run out of other people's money.” - Margaret Thatcher

and the progressives always act surprised.

 

[Zstream]

Did you read about the raspberry pi manufacturing problems? That will explain all you need to know about the UK and USA.

 

[mikeymikec]

The analysts are predicting that UK may have narrowly avoided a triple dip due to gains in the service sector, if you are to believe what they say. But why is the UK even facing the prospects of a triple dip?

IMHO, over-reliance on the service and financial sectors, not enough primary and secondary industries, along with a currently-weak currency (which apparently is helping exports currently but will affect the average person's budget negatively) and worldwide economic issues.

 

[Matt1970]

They should just keep borrowing until they can barely afford the interest on their debt.

 

[WelshBloke]

and the progressives always act surprised.

Ironic that you quote thatcher when it's her fault we have no heavy industry any more.

 

[Incorruptible]

Austerity includes real cuts to spending but unfortunately countries that practice "austerity" only cut the rate of growth of spending or even increase spending and then blame it on austerity.

 

[Zstream]

Ironic that you quote thatcher when it's her fault we have no heavy industry any more.

You do know she inherited a crap storm? AKA Bush -> Obama?

 

[monovillage]

Ironic that you quote thatcher when it's her fault we have no heavy industry any more.

of course it is.

 

[Anarchist420]

The Conservative govt raised taxes. Also, as Incorruptible pointed out, they're still running deficits... big time.

 

[zsdersw]

and the progressives always act surprised.

"The problem with pure capitalism is you eventually run out of poor people to step on"

 

[CaptainGoodnight]

"The problem with pure capitalism is you eventually run out of poor people to step on"

Except for capitalism has done more to pull the poor out of poverty than anything else.

Nice try.

 

[Moonbeam]

Even if austerity kills them there, a way will be found here to blame it on spending. The modern American mind is incapable of dealing with reality.

We can always have increased austerity here by taxing the rich say 90% so they start to feel a bit of a pinch.

 

[mikeymikec]

Instead of taking pot shots at capitalism or socialism, one could simply accept that a mix of the two is better than either extreme.

 

[desura]

Ironic that you quote thatcher when it's her fault we have no heavy industry any more.

More detail? I watched the Iron Lady the other day and it was definitely provocative.

Like, I'm sure that Korea subsidizes Samsung to a great degree, and Taiwan subsidizes TMSC.

 

[fskimospy]

Even if austerity kills them there, a way will be found here to blame it on spending. The modern American mind is incapable of dealing with reality.

We can always have increased austerity here by taxing the rich say 90% so they start to feel a bit of a pinch.

Conservatism never fails, it is only failed.

If austerity sent the UK to a worse performance now than in the Great Depression that's only because not enough austerity happened. Considering how hard conservatives are fighting to cling to this ideology even in the face of overwhelming evidence as to its failure, I'm not sure what facts could ever convince them.

 

[desura]

Austerity includes real cuts to spending but unfortunately countries that practice "austerity" only cut the rate of growth of spending or even increase spending and then blame it on austerity.

austerity makes sense in an inflationary environment.

But it is simply stupid in a deflationary environment.

 

[zsdersw]

Except for capitalism has done more to pull the poor out of poverty than anything else.

Nice try.

It was a trite reply to a trite Thatcher quote.. nothing more.

 

[nehalem256]

"The problem with pure capitalism is you eventually run out of poor people to step on"

Actually I think the best part about poor people is it is easy to make more of them ()

 

[WelshBloke]

of course it is.

It was Thatcherite policy to run down manufacturing and move the UK to a service based economy.

There's a bunch of fairly scholarly papers on the Internet you can read if you want.
Or you could just make another trite, off hand comment that shows that you're trying to support your ideology by using examples that you don't understand.
Up to you.

 

[Incorruptible]

The Conservative govt raised taxes. Also, as Incorruptible pointed out, they're still running deficits... big time.

This is why their version of "austerity" wont work. Even many of the countries in Europe tried "austerity" but still increased spending and were surprised it didn't work.

 

[Moonbeam]

Conservatism never fails, it is only failed.

If austerity sent the UK to a worse performance now than in the Great Depression that's only because not enough austerity happened. Considering how hard conservatives are fighting to cling to this ideology even in the face of overwhelming evidence as to its failure, I'm not sure what facts could ever convince them.

They would rather die than change. Unfortunately, they would also rather take the rest of us with them. Conservatives have become the enemy of the nation. They have an unconscious need to destroy it. On the one hand they live in a paranoid state and on the other, like addicts addicted to it, do whatever they can to stimulate it. Self destruction is the perfect path for them.

 

[glenn1]

UK austerity facing possiblity of triple-dip recession

Let's cut the bullshit, OK? Progressives will always oppose spending cuts at all times, just as conservatives will always support tax cuts at all times. Claiming some arbitrary higher purpose for your position doesn't give it more weight, it just makes you sound like a douche who's trying to rationalize your predetermined policy preference. You're trying to sound reasonable by claming bad timing when in reality this is just another dodge; there's never going to be a point in the economic cycle where you'll say "now is when we should do spending cuts."

 

[nehalem256]

Let's cut the bullshit, OK? Progressives will always oppose spending cuts at all times, just as conservatives will always support tax cuts at all times. Claiming some arbitrary higher purpose for your position doesn't give it more weight, it just makes you sound like a douche who's trying to rationalize your predetermined policy preference. You're trying to sound reasonable by claming bad timing when in reality this is just another dodge; there's never going to be a point in the economic cycle where you'll say "now is when we should do spending cuts."

:thumbsup:

Bad economy: We can't cut spending because the economy will be destroyed
Good economy: We have plenty of money why would we cut spending?

 

[monovillage]

It was Thatcherite policy to run down manufacturing and move the UK to a service based economy.

There's a bunch of fairly scholarly papers on the Internet you can read if you want.
Or you could just make another trite, off hand comment that shows that you're trying to support your ideology by using examples that you don't understand.
Up to you.

Unlike you where you point to a single woman and say "it's all her fault" .