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#219023 - 29th Mar 2008 8:59pm UK Recession Very Likely
MattLFC Offline
Wiki Master

Registered: 14th Aug 2004
Posts: 22315
Loc: Moreton/Beirut/Mobile
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 scum 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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#219027 - 29th Mar 2008 9:19pm Re: UK Recession Very Likely [Re: MattLFC]
BMW Joe Offline
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Registered: 30th Apr 2006
Posts: 12369
Loc: Birkenhead
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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#219029 - 29th Mar 2008 9:26pm Re: UK Recession Very Likely [Re: BMW Joe]
MattLFC Offline
Wiki Master

Registered: 14th Aug 2004
Posts: 22315
Loc: Moreton/Beirut/Mobile
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

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#219030 - 29th Mar 2008 9:30pm Re: UK Recession Very Likely [Re: MattLFC]
MattLFC Offline
Wiki Master

Registered: 14th Aug 2004
Posts: 22315
Loc: Moreton/Beirut/Mobile
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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