19th November 2010
OpenYourMindQuaid writes: "Based on how abysmal the economic prediction record of every mainstream, politicized agency is, I think it's about time we rejected what little legitimacy they have left and recognize the utter meaninglessness of such a presumptuous graph."
mikeinalberta thinks: "Britain does not have old failing industries like the Coal Board and British Leyland that held it back before, it could surprise with leaner more dynamic industries emerging I don't buy this doom and gloom, the energy put into recent trade missions may well start to pay off by spring but its up to private enterprise not government to grow the economy. Britain is beyond Socialism now take a gulp of fresh air!"
maggieTee writes: "They cut in the 1930s – turning a recession into a depression. Gideon, ignore historical precedents at your peril…."
Jedibeeftrix comments: "Britain slips five places in league table of best tax systems in the world" Britain needs to rapidly get the taxation down to less than one third, and make compliance and damn sight simpler to boot."
"The European Central Bank (ECB) has issued a clear warning that it will press ahead with plans to raise interest rates and withdraw lending support for banks despite the eurozone debt crisis, even if this risks pushing Ireland, Portugal and Spain into deeper trouble."
hospitaller comments: "There used to be a saying in banking that a well managed bank needed no capital, but a badly managed bank could not be saved with all the capital in the world. Better to close it down rather than throw good money after bad. I reckon the Irish are going to prove this all over again. Throwing buckets of money at them is not going to resolve this crisis, it will only push it back into the future. After the Irish, the pressure will move onto the next weak link – Portugal, Spain, Italy. None of the fundamental problems that are causing the Euro and the EU to sink like bricks are being addressed. The EU is choking itself to death with its taxes, spending and bailouts, it is wiping out wealth on a massive scale, it is an economic black hole. The hungry crocodile, having eaten everything it sight is now eating its own tail. There is no way that this madness can on for much longer, it is a death spiral."
"Mortgage lending down by 9% in a year. The Council of Mortgage Lenders says £12.4bn was lent in October – the lowest figure for that month since 2000 – as the traditional seasonal uplift failed to materialise."
bullwick comments: "Here comes the double dip. Supply exceeds demand and down we all go and it's not just housing either."
Use the economic crisis to get yourself a bargain investment.
breelander says: "In short, are you buying in this market? I am.