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UK Recession Very Likely #219023
29th Mar 2008 8:59pm
29th Mar 2008 8:59pm
Joined: Aug 2004
Posts: 22,315
Moreton/Beirut/Mobile
MattLFC Offline OP
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MattLFC  Offline OP
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Originally Posted by BBC News
There is a one in three chance of the UK going into a recession over the next two years, according to investment bank Lehman Brothers.

It says the global financial turmoil is increasing mortgage rates and predicts this will reduce consumer spending.

Lehman Brothers says the Bank of England will be forced to cut rates to 4% or lower to boost the economy.

The report comes as the latest revised official figures cut the annual rate of UK growth at the end of 2007 to 2.8%.

The annual growth rate in the October to December quarter was trimmed from an earlier estimate of 2.9%, and was the lowest rate since the second quarter of 2006.

And people will still vote in these fookin Labour ... next time round!!!

This country is going down and fast!! And im sorry, but the people have themselves to blame.

mad mad

BBC News Report

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Re: UK Recession Very Likely [Re: MattLFC] #219027
29th Mar 2008 9:19pm
29th Mar 2008 9:19pm
Joined: Apr 2006
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BMW Joe Offline
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BMW Joe  Offline
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it's bound to happen - it's the way business and the capitalist economy works - boom and slumps

I cant wait until the UK has a Recession everything is just over inflated


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Re: UK Recession Very Likely [Re: BMW Joe] #219029
29th Mar 2008 9:26pm
29th Mar 2008 9:26pm
Joined: Aug 2004
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Moreton/Beirut/Mobile
MattLFC Offline OP
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MattLFC  Offline OP
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Originally Posted by BMW Joe
it's bound to happen - it's the way business and the capitalist economy works - boom and slumps

I cant wait until the UK has a Recession everything is just over inflated

Yes, but it can be prevented. Since Labour have come in, all that has happened is the economy has gone from quite strong (even Labour admitted it was stronger then they ever imagined when they took over) and developing to an absolute shambles.

They have done absolutely nothing to prevent it, they keep spouting this shit about the economy being stonger then ever, and people are so fookin blind they keep believing it (Iraq anyone FFS) and keep voting them in without Labour even having to worry!!

And to top things off, consumers think they have the god-given right to own everything they want to, even though most of them cannot afford it; and this is another reason we are heading towards bust.

Its pissing me off now, because we are taxed left right and centre, and our pound is fast becoming worthless, and I deal in the EU market, where the weakness of the GBP vs the EUR is taking the piss.

Recession's can be prevented. It is just our government is either too short sighted, or had no interest in doing so. And people in the country (not everyone, just the majority) have no idea how to look after money.

frown

Re: UK Recession Very Likely [Re: MattLFC] #219030
29th Mar 2008 9:30pm
29th Mar 2008 9:30pm
Joined: Aug 2004
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MattLFC Offline OP
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MattLFC  Offline OP
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Btw, I see you're point Joe, and I am not arguing with it. It is the way the system works. But we should'nt have hit this point so fast, and if it had'nt have been for careless spending/borrowing and management of the system by the government, we would not be in such shit right now.

smile


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