Not exactly news. We know that we are in a recession. The question is how quick we are going to get out of it, and it seems like not very quick at all.
0.3%. Surely it will get worse than that before it gets better again.
Recession best jack up those interest rates.
I’m trying to find out have we ever raised rates in a recession before?
“It’s not shrinking, we’re just trimming the fat.” – The Tories, probably.
Not surprising. We had a government that was MIA for one of those three months while they indulged in an elaborate leadership contest, then spent the other two wrecking the economy and dealing with the fallout from that.
Roll on the next general election.
What’s new? In real terms GDP has been dropping like a bomb for decades.
And also, this morning in the Guardian…
UK economy returns to growth as GDP rises 0.5% in October
Tories: Just cut the economy in half, Then you can have twice as much!
Ah well, at least Brian down the pub can mutter into his pint of Carling about how we voted to leave to keep the Spanish out of Gibraltar or some other nonsense
Its almost like if you make sure wages are suppressed and cause a huge energy crisis through terrible planning that if people have less money they will spend less
Im not even an economist and i can tell how this works
Thank you captain numbnuts – we know this.
We also know it’s because of single digit IQ brexiteers
I’ll bet it did. A quarter of the country are going into debt just to pay for bare essentials, so no shit spending is down.
I’m lucky enough to have a small amount of liquid cash and while I’ve cut way back on non essentials like entertainment, I’ve been spending more on non perishables to try and soften the raging inflation damage – but that only means I’ll be spending *even less* in the future while I work through my stockpile of baked beans, oil, spices and pasta bought at 2021 prices and enjoy the laptop I bought for £150 less than the same model costs now.
There’s going to be an absolute harrowing of the pub and restaurant industry, and I’ll be surprised if 1 of the Big Four supermarket chains doesn’t get thoroughly overtaken by Lidl/Aldi by the end of next year. It’s going to be fucking grim for high street clothing as well. Basically anything that working people used to spend a bit extra on, well they won’t be spending that bit extra any more. Either because they straight up need to use the money for food and rent or because they’re expecting that they probably will in the near future.
Turns out that consumer economies don’t work if you don’t give the population enough money to spend on consumer goods and services, who knew?
Thanks for reading, fellow serfs. I’ll leave you to get on with practicing doffing your cap to your betters and hoping for a tip when you kneel so they can step on your back.
The headline “UK economy will get worse before it gets better, warns chancellor”
That’s because you and your Tories are in charge Cunt.
Remember when the Tory scum were out in force when the last figures came through?
It was right after Truss and Kamikwaze catastrophic mini-budget, somehow trying to frame it as if the budget was a positive.
Wonder how many of the same bell ends are out today to tout this.
Anti-growth coalition strikes again! This is all the repercussions from Corbyn wanting to nationalise the energy firms and Brown selling the gold. The economic shock of Milliband eating that sandwich funny can clearly still be felt to this day.
It’s not shrinking, it’s just getting colder. Give it a rub and it’ll be fine
Life remains shit whether the economy goes up or down. Not sure why fractional percentages of “economic growth” matter at all
17 comments
Not exactly news. We know that we are in a recession. The question is how quick we are going to get out of it, and it seems like not very quick at all.
0.3%. Surely it will get worse than that before it gets better again.
Recession best jack up those interest rates.
I’m trying to find out have we ever raised rates in a recession before?
“It’s not shrinking, we’re just trimming the fat.” – The Tories, probably.
Not surprising. We had a government that was MIA for one of those three months while they indulged in an elaborate leadership contest, then spent the other two wrecking the economy and dealing with the fallout from that.
Roll on the next general election.
What’s new? In real terms GDP has been dropping like a bomb for decades.
And also, this morning in the Guardian…
UK economy returns to growth as GDP rises 0.5% in October
https://www.theguardian.com/business/2022/dec/12/uk-economy-growth-gdp-october-recession
Tories: Just cut the economy in half, Then you can have twice as much!
Ah well, at least Brian down the pub can mutter into his pint of Carling about how we voted to leave to keep the Spanish out of Gibraltar or some other nonsense
Its almost like if you make sure wages are suppressed and cause a huge energy crisis through terrible planning that if people have less money they will spend less
Im not even an economist and i can tell how this works
Thank you captain numbnuts – we know this.
We also know it’s because of single digit IQ brexiteers
I’ll bet it did. A quarter of the country are going into debt just to pay for bare essentials, so no shit spending is down.
I’m lucky enough to have a small amount of liquid cash and while I’ve cut way back on non essentials like entertainment, I’ve been spending more on non perishables to try and soften the raging inflation damage – but that only means I’ll be spending *even less* in the future while I work through my stockpile of baked beans, oil, spices and pasta bought at 2021 prices and enjoy the laptop I bought for £150 less than the same model costs now.
There’s going to be an absolute harrowing of the pub and restaurant industry, and I’ll be surprised if 1 of the Big Four supermarket chains doesn’t get thoroughly overtaken by Lidl/Aldi by the end of next year. It’s going to be fucking grim for high street clothing as well. Basically anything that working people used to spend a bit extra on, well they won’t be spending that bit extra any more. Either because they straight up need to use the money for food and rent or because they’re expecting that they probably will in the near future.
Turns out that consumer economies don’t work if you don’t give the population enough money to spend on consumer goods and services, who knew?
Thanks for reading, fellow serfs. I’ll leave you to get on with practicing doffing your cap to your betters and hoping for a tip when you kneel so they can step on your back.
The headline “UK economy will get worse before it gets better, warns chancellor”
That’s because you and your Tories are in charge Cunt.
Remember when the Tory scum were out in force when the last figures came through?
It was right after Truss and Kamikwaze catastrophic mini-budget, somehow trying to frame it as if the budget was a positive.
Wonder how many of the same bell ends are out today to tout this.
Anti-growth coalition strikes again! This is all the repercussions from Corbyn wanting to nationalise the energy firms and Brown selling the gold. The economic shock of Milliband eating that sandwich funny can clearly still be felt to this day.
It’s not shrinking, it’s just getting colder. Give it a rub and it’ll be fine
Life remains shit whether the economy goes up or down. Not sure why fractional percentages of “economic growth” matter at all