Triple Dip

[proggy]

Should Osborne be moved on if we enter a Triple Dip recession tomorrow?

[DodgyAgent]

Should Osborne be moved on if we enter a Triple Dip recession tomorrow?

What else is he meant to do? It is interesting that having indulged ourselves in labour the country has once again gone bust Everyone expects the Tories to sort the mess out. When they cannot do it everyone starts whining again. If you really want the problems to be sorted out then the only answer would be to completely cull the public sector and allow inefficient businesses (including banks) go bust.

By all means get rid of osborne but if you really want the debt wiped away you will not want to hear what would be needed.

[original PM]

Should Osborne be moved on if we enter a Triple Dip recession tomorrow?

you really do wear underpants saying "I love Ed Balls"!

[VectraMan]

Labour were having a moan yesterday that Osbourne's only managed a small decrease in the deficit. Of course these are the people that think trying to reduce the deficit is the wrong approach.

Triple dip means we've at least had some growth. Would a single long dip have been better?

[TheFaQQer]

Should Osborne be moved on if we enter a Triple Dip recession tomorrow?

Not necessarily, but clearly Plan A isn't working.

Osborne set great stall by having the mess cleared within four years, and we're further away than ever. He said that the gold standard of his economic policies was reflected in Britain keeping the triple A rating, and then said it didn't matter when we lost it.

The idea that his policies are working in any way is laughable.

The problem is that there is no-one else in the frame to take over.

[GB9]

Plan A is working fine. We are adjusting to living within our means. The length of time it is taking is showing just how Tuliped we were previously. Normally the debt would be inflated away, however Globalisation is preventing this this time around.

Anyway, under the Coalition double dip we are down about 1%. Labour managed -6.7% in one quarter.

[VectraMan]

Plan A is working fine. We are adjusting to living within our means. The length of time it is taking is showing just how Tuliped we were previously. Normally the debt would be inflated away, however Globalisation is preventing this this time around.

WHS. It's easy to look at the tuliped economy and say the policy isn't working, but doing that is ignoring all the factors that caused the tulip in the first place. How do you know it isn't exactly this policy that's responsible for the quarters of growth?

Though seeing as the Conservatives are taking the political kicking anyway, I wonder if they'd be better of just doing austerity properly. Just cut the deficit to zero starting tomorrow, and say "tough" to all the moaners. It's what Thatcher would have done.

[tomtomagain]

The country is still adjusting to the fact that we are simply not as rich as we thought we were.

The economic growth during Labours years in office were based mainly on debt.

The average UK household debt is approximately £6k excluding mortgages ( £55k with mortgages ).

The credit bubble has burst and it's not coming back. Not in the next couple of decades anyway. it will come back when everyone has forgotten.

Growth or rampant inflation is required to resolve the problem.

Inflation is hugely damaging.

Growth takes a long time when there is little to grow. It takes years of patient investment in education, the business environment, science and infrastructure.

The current state of the economy is the new normal.

[TheFaQQer]

How do you know it isn't exactly this policy that's responsible for the quarters of growth?

Well, one of the quarters of growth was the one when ALL the ticket sales for the Olympics got counted, which raised a few billion. And we only just scraped through that one.

Though seeing as the Conservatives are taking the political kicking anyway, I wonder if they'd be better of just doing austerity properly. Just cut the deficit to zero starting tomorrow, and say "tough" to all the moaners. It's what Thatcher would have done.

I doubt she would have done, to be honest. The cuts from this government are deeper than anything Thatcher considered. The biggest target to reduce the deficit are pensioners - state pensions, free bus passes, free TV licences, winter fuel allowance etc. But old people have a higher propensity to vote (and to vote Conservative), so the chances of any of these being touched is non-existent.

Alternatively, the simple way to erode the debt is to devalue the pound, but that isn't being mentioned.

[DodgyAgent]

The country is still adjusting to the fact that we are simply not as rich as we thought we were.

The economic growth during Labours years in office were based mainly on debt.

The average UK household debt is approximately £6k excluding mortgages ( £55k with mortgages ).

The credit bubble has burst and it's not coming back. Not in the next couple of decades anyway. it will come back when everyone has forgotten.

Growth or rampant inflation is required to resolve the problem.

Inflation is hugely damaging.

Growth takes a long time when there is little to grow. It takes years of patient investment in education, the business environment, science and infrastructure.

The current state of the economy is the new normal.

WHS