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Pierre · 20-10-2011, 12:50

You can't compare what is happening now to the 70's, or indeed 80's & 90's.

We're in the longest, deepest recession in living memory - so we keep being told.

Yet interest rates are the lowest in living memory and will be well into next year and possibly beyond.

Growth is just managing to stay above zero.

The high street recorded sales up last month.

Nearly every house hold has two cars, 3 tvs, sky or cable, broadband and several smart phones

Everybody is talking about cuts, but none of the cuts have actually been implemented yet - so any redundancies in the public sector are being implemeted in anticipation of the cuts.

I am not an economist and have no idea what the best course of action is, but then again I don't think that most so called "economists" do either.

I believe that if something makes sense then it's right.

If you owe billions, borrowing billions more wont help you - unless you are borrowing to invest in infrastructure, manufacturing etc

If you are borrowing to supply services and pay wages - forget it.

Borrow to invest is the road to success, borrow to spend is the road to the end.

When you're in a hole, stop digging - Nick Leeson.

The governments plan, may not be perfect for everyone, but it is a plan. The world markets like it - I don't see what Plan B there could be.

20-10-2011, 12:50	#19
Pierre The Dark Satanic Mills Join Date: Dec 2003 Location: floating in the ether Posts: 13,242	Re: Economy is worse under us, says Cable: You can't compare what is happening now to the 70's, or indeed 80's & 90's. We're in the longest, deepest recession in living memory - so we keep being told. Yet interest rates are the lowest in living memory and will be well into next year and possibly beyond. Growth is just managing to stay above zero. The high street recorded sales up last month. Nearly every house hold has two cars, 3 tvs, sky or cable, broadband and several smart phones Everybody is talking about cuts, but none of the cuts have actually been implemented yet - so any redundancies in the public sector are being implemeted in anticipation of the cuts. I am not an economist and have no idea what the best course of action is, but then again I don't think that most so called "economists" do either. I believe that if something makes sense then it's right. If you owe billions, borrowing billions more wont help you - unless you are borrowing to invest in infrastructure, manufacturing etc If you are borrowing to supply services and pay wages - forget it. Borrow to invest is the road to success, borrow to spend is the road to the end. When you're in a hole, stop digging - Nick Leeson. The governments plan, may not be perfect for everyone, but it is a plan. The world markets like it - I don't see what Plan B there could be. __________________ The wheel's still turning but the hamsters dead.