Economy will be over worst by October

[sasguru]

"What if the success of the British economy over the past twenty five years turns out not to be down to the pain the country went through in 1981 - 1983, but turns out in fact to have been paid for by oil (which we don't have so much of anymore)?"

What success in the British economy?

[TimberWolf]

We need the economy to be run by scientists for a decade or so. It's all ultimately about energy I tell yer! Unfortunately our scientists are all tulip too.

[Gonzo]

What success in the British economy?

I was happy with not being referred to as "the sick man of Europe" anymore.

[Not So Wise]

Hmm scary to find myself half agreeing with that idiot Darling but it's my feeling also that things will bottom out by Oct if no more major banks (worldwide) go tits up or end up needing a rescue because by then Banks should be feeling secure enough in each other to loosen up the interbank market

"half agreeing" though because i think the "recovery" will be a long and drawn affair, about 2 to 3 years (from end of this year) until things are as good as they were before the "crash"


And then we will have about another 5 years until the next crash

[Doggy Styles]

Hmm scary to find myself half agreeing with that idiot Darling but it's my feeling also that things will bottom out by Oct if no more major banks (worldwide) go tits up or end up needing a rescue because by then Banks should be feeling secure enough in each other to loosen up the interbank market

"half agreeing" though because i think the "recovery" will be a long and drawn affair, about 2 to 3 years (from end of this year) until things are as good as they were before the "crash"

And then we will have about another 5 years until the next crash

But the country is running at a whopping loss, with no end in sight.

If you were earning £30K a year, and having to borrow another £10K a year to maintain your lifestyle, there is no way you will ever see a recovery, however much more 'the banks' have available to borrow, until you make drastic changes to that lifestyle.

There's a lot of pain required to reverse that deficit. People have not yet grasped how bad the nation's finances are. If they did they wouldn't be grasping at straws.