Doom - IMF gloomy report

[sasguru]

I well remember watching some guru on a prog back in the 80s who was advancing his pet theory that we don't need to actually physically make things in this country anymore... we can all survive on services...

Yeah.

Right.

Seems the politicians of all flavours (they all taste like tulipe, trust me on this) believed him...

Well Thatcher believed it totally ...

[sasguru]

[QUOTE=zeitghost;513725]You mean we still make things in this counry?

How very 1970s.[/QUOTE]

1860s

[BoredBloke]

It is not hard to account for increased factory output given our low level of manufacturing in this country - a guy returning from holiday probably causes a blip these days.

"Manufacturing output rose 0.4% in February, better than expectations of a 0.1% gain, said the Office for National Statistics (ONS). This increase was largely down to Dave Smith of Tipton returning from his 2 week holiday in Spain"

[lilelvis2000]

No depression..only higher taxation.

[BrilloPad]

IMF doom report

Hang on to your hats lads.

"Regardless of who takes the lion's share of blame, the consequences will be brutal: $945bn of losses - shared equally by banks and investors"

The bankers always win - investors always lose. Unless there is a depression. What are the odds on a depression happening?

[sasguru]

http://news.bbc.co.uk/1/hi/business/7338180.stm

UK factory output grew by faster than expected in February, rising at its strongest annual rate in more than a year, official figures have shown.

Manufacturing output rose 0.4% in February, better than expectations of a 0.1% gain, said the Office for National Statistics (ONS).

The annual rate, for the year to the end of February, rose to 1.9%, the best figure since December 2006.

The figures suggest UK industry is holding up against the credit squeeze.


http://news.bbc.co.uk/1/hi/business/7338056.stm

The Chancellor Alistair Darling has defended his forecast after UK economic growth was downgraded by the International Monetary Fund (IMF).

Speaking on Radio 4's Today Programme, Mr Darling said that "there were grounds for optimism" despite the "unprecedented shock to the economy."

Mr Darling said that the UK still had a "strong economy that had proved remarkably resilient" in the slowdown.


http://news.bbc.co.uk/1/hi/business/7337861.stm

Britain's biggest bank, HSBC, is offering mortgages to homeowners whose fixed rate deals with other lenders are coming to an end.

HSBC says it will match existing deals for up to two years and for a fee.

http://news.bbc.co.uk/1/hi/business/7337958.stm

The Bank of England's interest rate-setting body is due to begin its latest two-day meeting, with analysts widely expecting a cut.

Amid signs the global credit crunch is continuing to hit the UK, the Bank's Monetary Policy Committee (MPC) is tipped to trim rates to 5% from 5.25%.


Time to buy some more houses! The only way is up!

You spoiled a semi-convincing argument by quoting Darling.
HTH

[DimPrawn]

Boom!

http://news.bbc.co.uk/1/hi/business/7338180.stm

UK factory output grew by faster than expected in February, rising at its strongest annual rate in more than a year, official figures have shown.

Manufacturing output rose 0.4% in February, better than expectations of a 0.1% gain, said the Office for National Statistics (ONS).

The annual rate, for the year to the end of February, rose to 1.9%, the best figure since December 2006.

The figures suggest UK industry is holding up against the credit squeeze.


http://news.bbc.co.uk/1/hi/business/7338056.stm

The Chancellor Alistair Darling has defended his forecast after UK economic growth was downgraded by the International Monetary Fund (IMF).

Speaking on Radio 4's Today Programme, Mr Darling said that "there were grounds for optimism" despite the "unprecedented shock to the economy."

Mr Darling said that the UK still had a "strong economy that had proved remarkably resilient" in the slowdown.


http://news.bbc.co.uk/1/hi/business/7337861.stm

Britain's biggest bank, HSBC, is offering mortgages to homeowners whose fixed rate deals with other lenders are coming to an end.

HSBC says it will match existing deals for up to two years and for a fee.

http://news.bbc.co.uk/1/hi/business/7337958.stm

The Bank of England's interest rate-setting body is due to begin its latest two-day meeting, with analysts widely expecting a cut.

Amid signs the global credit crunch is continuing to hit the UK, the Bank's Monetary Policy Committee (MPC) is tipped to trim rates to 5% from 5.25%.


Time to buy some more houses! The only way is up!

[BlasterBates]

IMF doom report

Hang on to your hats lads.