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Another recession?


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Seems with a £trillion debt and rising unemployment, things arn't likely to improve in the near future. Politicians from Barak Obama to Nick Clegg are now suggesting economic stimulus in a bid for growth, in the form of tax cuts for the majority paid for by tax hikes on the super-rich. However, it seems any move to relax austerity could sink our triple A rating for borrowing. So, it appears we're between a rock and a hard place. :(

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I don't think we will enter another recession.

 

The last quarter of 2011 was negative but so was the last quarter of 2010,2009.

 

All in all the UK GDP grew by 0.9% in 2011 which is not bad in these uncertain times. It is just a shame the end of the year finished poorly.

 

We were talking at work yesterday about boom and bust. People were grumbling that we only grew by 0.9% in a year but, if there was a way to permanently eliminate boom and bust but grow by 0.9% a year putting an end to recession most people would accept that. However, how do you put an end to recession? :blink:

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I see uncertainty has now hit Japan. In the last seven days, Origami bank has folded, Sumo Bank has gone belly up and Bonsai Bank has announced plans to cut some of its branches. Yesterday, it was also announced that Karaoke Bank will go up for sale and will likely go for a song, while shares in Kamikaze Bank were suspended today after they nose-dived. While Samurai Bank is soldiering on after sharp cutbacks, 500 staff at Karate Bank got the chop and analysts report that there is something fishy going on at Sushi Bank, where it is feared that staff may get a raw deal.

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  • 3 weeks later...

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