Quote:
Originally Posted by chris9991
As an observation this is only the first estimate - it could change and may turn out that it is not as bad, but it could be worse.
|
It doesn't really matter whether it is worse or better as the criteria for acknowledging a recession are contrived for political purposes.
I look at charts which show growth on a running basis and they show that for lost growth, a long period of above par growth must ensue to negate the loss.
The anaemic recovery from the last recession has not mitigated the loss during that time and again we are below a positive level which adds the losses from non recovery.
The actual performance of UK PLC in terms of time for return to true growth is worse than during the depression era of the 30's and with the ridiculous coalition policies I see nothing more than furious digging whilst in a big hole.
My enduring concern is the arrogance with which the rich kids at the helm press on with plan A which patently doesn't work and stubbornly refuse to even acknowledge let alone review a catalogue of errors.