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Thread: The Ecconomy (UK, Europe and the rest of the world)

  1. #1
    I Love mike Brewer )o( Monkey's Avatar
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    The Ecconomy (UK, Europe and the rest of the world)

    its been a while but its now getting beyond a joke.

    UK

    Inflation at a high CPI 5.2% RPI 5.6% for September. the 2% target set has been wildly missed for a while now, and with the introduction of QE2, another £75bn "magic'd" out of no where wont help inflation targets. but i may help our expert industry. but all the while everything we import (most things for a day to day life) will get more expensive.

    but thats ok, as Benifit claiments will get a rise due to their benifits being linked to inflation

    every year you dont get a pay rise inline with or above inflation, is actually a decrease in your pocket.

    couple that with Record low IR's meaning savers are getting a pounding - this is talk that the boE could reduce IR's to 0.25% in the comming months. there look like no chance of a IR rise in the next 12-18 months unless something major happens - what i dont know.

    Unemployment at 2.5million, a 17 year high, and expected to rise over the winter, increase in benifit claimants, means more tax needed.

    Banks lending critior getting stricter, lending down.

    all this putting pressure on peoples finances, less people buying TV's etc meaning retail sales are down slightly, will the Xmas rush push them back up?

    VAT is supposed to revert back to 17.5% in Feburary, but the rumor is it wont.

    Banking, UK banks dont look healthy with the expectation of the governments stake in RBS to extend from 82% to 100% by year end.

    then you have Europe, Greece expected to default at some point, France is also expected ot have its credit rating downgraded by Moody's this week, just before the Eurozone conference on how to handle Europes debt problems.

    its not looking too good at the mo.

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    All we need now is to spread doom and gloom to further push down consumer and investor confidence and we are really fcuked.


    I could solve the problems in 1 year following this model :-


    (1) introduce Chinese style media censorship for 1 year
    (2) ban monkey from the www for 1 year


    Confidence will grow .... The economy will grow

  3. #3
    Guest Cluck's Avatar
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    Quote Originally Posted by Monkey View Post
    its been a while but its now getting beyond a joke.

    UK

    Inflation at a high CPI 5.2% RPI 5.6% for September. the 2% target set has been wildly missed for a while now, and with the introduction of QE2, another £75bn "magic'd" out of no where wont help inflation targets. but i may help our expert industry. but all the while everything we import (most things for a day to day life) will get more expensive.

    but thats ok, as Benifit claiments will get a rise due to their benifits being linked to inflation

    every year you dont get a pay rise inline with or above inflation, is actually a decrease in your pocket.

    couple that with Record low IR's meaning savers are getting a pounding - this is talk that the boE could reduce IR's to 0.25% in the comming months. there look like no chance of a IR rise in the next 12-18 months unless something major happens - what i dont know.

    Unemployment at 2.5million, a 17 year high, and expected to rise over the winter, increase in benifit claimants, means more tax needed.

    Banks lending critior getting stricter, lending down.

    all this putting pressure on peoples finances, less people buying TV's etc meaning retail sales are down slightly, will the Xmas rush push them back up?

    VAT is supposed to revert back to 17.5% in Feburary, but the rumor is it wont.

    Banking, UK banks dont look healthy with the expectation of the governments stake in RBS to extend from 82% to 100% by year end.

    then you have Europe, Greece expected to default at some point, France is also expected ot have its credit rating downgraded by Moody's this week, just before the Eurozone conference on how to handle Europes debt problems.

    its not looking too good at the mo.
    On the flipside, the sun's shining down here at the mo .

    Being serious for a mo, I am worried about the economy (I think you'd be foolish not to be concerned at some level) but I'm going through the busiest time I've had in 9 months. Computer sales have exploded and got to a point in the last few weeks where I simply didn't want to sell another one . So if that's the sign of a weak economy, long may it continue .

    As for inflation, it's artificially high this year because of the VAT rise. As soon as January comes along we'll see it drop by 2.5% to reflect that. Take that off the 5.2% and it's not that atrocious. Not ideal, but certainly not as bad as it might appear right now.

    As for answers, I don't have any. I have opinions which are mostly ill-informed and ignorant of the bigger picture. I wish I'd realised this before I went off on a massive (admittedly alcohol-fuelled) rant about the economy, the state of the world and everything else that was pissing me off on Saturday night - I nearly drove one person to tears .

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    Johnny for Prime Minister

    could we also have

    (3) Train youngsters to make stuff especially building trades, electronics, metalworking and engineering.
    (4) Make the banks hold 1:1 collateral against derivatives (to curb their gambling addiction).

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    Quote Originally Posted by Cluck View Post
    ... I wish I'd realised this before I went off on a massive (admittedly alcohol-fuelled) rant about the economy, the state of the world and everything else that was pissing me off on Saturday night - I nearly drove one person to tears .
    My NY resolution this year is going to be to stop saying "...and another thing..." when I'm pished.

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    I live in Greece and its hard here!
    In the last 10 years piliticians have stolen loads of money from the people and now we have to pay theyr bill...not that it isn´t or fould either,after all we ellected them.
    about 5 years back everyone took a loan or2 or 3 to buy them cars houses or to go to holidays...70%
    of the mid class population can not pay their debts and the gouverment raises the VAT up to 23%
    the gas goes from 0.90 to 1.60 euros allmost over nightand now I have to pay 1200€ tax for my house otherwise they are going to cut the electricity and another 1000 € tax for my renauld rx4 daily becouse it has a 2000cc engine and that means i am rich!and all that untill december!
    4 years ago i worked at constructions as a painter (walls painting) and i earnd about 400€ a week and now i lost my job as an elevator engineer (as an engineer my sellary was 750€)and the state gives me 450E a month...
    If Greece defaults i belive that Italy Spain Portugal and maybe Ireland (i dont belive it tho)
    will follow and the euro WILL colapse!if that happens then we will enter a new era of global economic crisis!
    I am almost at the point of moving out of Greece and go back to Germany or the uk maybe but it hurts me to leave back my house that i build almost from scratch with my own hands!
    Its very hard to not knowing what will happen the next day the whole situation sucks!
    Hopefully the the other EU members let us stay in the euro otherwise Greece will be destroyed!
    Think about not having any fuel at all and the militairy on the streets cos that will happen in the case of a defauld.

    Please excuse my bad english and my typos
    Regards..

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    Guest ferretca18's Avatar
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    Just look at the Occupy Wall Street idea thats started happening all around the world! Something is going to change soon, either through a revolution or another means

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    Quote Originally Posted by ferretca18 View Post
    Just look at the Occupy Wall Street idea thats started happening all around the world! Something is going to change soon, either through a revolution or another means
    Talk about rebels without a clue

    Those protestors aren't going to change anything because they have no ideas (and I don't mean bad ideas or ideas that won't work, just no ideas) on how to fix it.

    I feel for Dros and people like him. They've worked hard to try to build a life for themselves and its imploding around them.

    For the countries they call PIIGS, the chances of default are high and it is likely IMO that the Euro-currencied countries will have to make radical changes with some countries even withdrawing and going back to their own currencies.

    Everyone in Europe is going to have to start living a poorer life than they have been and make sacrifices. That's a lot easier for people living well within their means as they will not truly suffer.

    My main hope is that the welfare state does not collapse to such an extent that people suffer terrible hardship in some of the poorer countries.

    We might be moaning about not being able to afford to keep our performance car as well as our daily runabout but some countries could have no food on the shelves and rampant inflation so that what you get paid at the beginning of the month isn't worth anything at the end of the month.

    I really hope that doesn't happen but its not impossible.

    Neither the UK nor the US has the means to build its way out of recession this time.

    The thing with a global economy is that EVERYBODY gets fcuked when it goes wrong and its a lot harder for National government to make a difference.

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    Guest kingj's Avatar
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    Well I think only an idiot wouldnt be concerned at the state of the economy at the moment Although I do agree with cluck above, inflation isnt quite as bad as it sounds,yet far from great

    The bottom line is we NEED to stop spending and pay back what we owe, no ifs, no buts. It's not going to be pleasant and unfortunately we are all going to feel it, but there is no other option, its basic maths. Im just glad we didnt join the euro when a certain government was pushing for it

    If you voted labour in the last 3 elections pat yourself on the back......were in this situation because of you

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    It's a really naiive idea but who does everybody owe money to? Every single country in the world owes money to someone.

    Can't we have a global debt write off? No one paying out loads to repay loans and if the money borrowed isn't real no one suffers?
    http://sxoc.com/vbb/image.php?type=sigpic&userid=11238&dateline=1227414084
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    I'm not a big ford fan but the RS500 is a legend, you cannot take away from it its Icon status and to suggest that its a chavvy car is like saying Kirsten Scott Thomas is a council estate slapper

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    Banned sideways14a's Avatar
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    We are in better shape than most of Europe though, and to be honest the US as well

    Worlds fecked, even China may have a nasty landing at somepoint when its vast economy starts to hit the buffers.

    I aint had a payrise in more than 3 years, so for quite sometime now have been getting poorer and poorer still i saw it coming (yeah ... really), how could brand new cars every 18months and 42" lcd's at a grand + be affordable for all the people i saw spending like it grew on trees....
    It cant, it wasnt and i point and laugh now at the plebs with 30+k on credit cards because they were morons... Still i am getting just as poor

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    Quote Originally Posted by kingj View Post
    The bottom line is we NEED to stop spending and pay back what we owe, no ifs, no buts.
    might seem dim but do you mean on an personal level?

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    The whole system is built on debt and spending, if countries and individuals stop spending and reduce their debts everything collapses.

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    Banned sideways14a's Avatar
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    The other thing that boils my piss is the large amount of ****ers filling boards up and down t interwed (bit like this one ) complaining that the Tories are all toffs and "in this together" is a load of shit because Cameron and all that are multi millionaires so how could they possibly tell folk on the street how to live..

    Wake up retards, Cameron (and half the labour party) are millionaires because they worked fecking hard to achive what they have today, not some 42" plasma and a 30k credit card debt. I would rather listen to someone that has been done well for themself in life than some crabby whine bag on a forum that cant go out and buy a new iphone.

    Get real...

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    Guest Liam's Avatar
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    Not sure if your being serious :/

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    Quote Originally Posted by Liam View Post
    Not sure if your being serious :/
    He's got a point re. wealth in politicians. If you look at the Labour cabinet over the last 10 years, there have been some VERY wealthy people in there, along with nobility. But let's not worry about that, let's blame the evil 'rich toff' Tories .

    The deficit is still growing. The deficit is going to continue to grow, even when the cuts do start to take place. And as frisbee said, if we all stopped spending and reduced our personal debt, the economy would be completely fcuked.

    Fake Ben Taylor - who does everybody owe money to? In a word, China. China has bought most of the debt and then it makes most of the non-essential products that we buy, making them even richer .

    But now that China's growth is showing signs of slowing, I have real fears of a massive collapse in the world economy.

    Greece really needs to pull out of the Euro, as do all the other countries that had figures fudged to get in. Take the hit, let the system settle and rebuild. Iceland did just that and they are back on the right track again. No, it's not going to be at all pleasant, but it's probably better than burying your heads in the sand and pretending it's all going to be alright somehow.

    Still, the sun was shining today, so that cheered me up a bit .

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    Quote Originally Posted by Cluck View Post
    He's got a point re. wealth in politicians. If you look at the Labour cabinet over the last 10 years, there have been some VERY wealthy people in there, along with nobility. But let's not worry about that, let's blame the evil 'rich toff' Tories .

    The deficit is still growing. The deficit is going to continue to grow, even when the cuts do start to take place. And as frisbee said, if we all stopped spending and reduced our personal debt, the economy would be completely fcuked.

    Fake Ben Taylor - who does everybody owe money to? In a word, China. China has bought most of the debt and then it makes most of the non-essential products that we buy, making them even richer .

    But now that China's growth is showing signs of slowing, I have real fears of a massive collapse in the world economy.

    Greece really needs to pull out of the Euro, as do all the other countries that had figures fudged to get in. Take the hit, let the system settle and rebuild. Iceland did just that and they are back on the right track again. No, it's not going to be at all pleasant, but it's probably better than burying your heads in the sand and pretending it's all going to be alright somehow.

    Still, the sun was shining today, so that cheered me up a bit .
    China have a plan for themselves, they are investing massively in infrastructure, renewables etc., they are leeching information out of western firms and they are developing an internal market for luxury goods. The UK will be one huge theme park for Chinese tourists in 10 years time.

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    Guest Liam's Avatar
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    Quote Originally Posted by Cluck View Post
    He's got a point re. wealth in politicians. If you look at the Labour cabinet over the last 10 years, there have been some VERY wealthy people in there, along with nobility. But let's not worry about that, let's blame the evil 'rich toff' Tories .
    I don't disagree with the fact that politicians are loaded, I disagree with the "hard work" part.

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    Quote Originally Posted by Liam View Post
    I don't disagree with the fact that politicians are loaded, I disagree with the "hard work" part.
    Oh they've all worked hard, there's no doubt about that. It's just that their definition of hard work is how hard it is to talk the talk and climb the greasy pole of success .

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