[Archived] Global Recession Looming

[thenodrog]

The Footsie peaked at around 7,000 in 2000 and is now around the 4,000 mark so I'm not sure that's true any more.

In between however there have been some enormous swings up and down all of which have been extremely profitable if you got your timing right.

You're so great at seeing into the future Jim. I wonder why you don't save time and effort and simply buy a lottery ticket with the right numbers on?

btw How much did you get for your house last spring?

[broadsword]

My 3 y.o. son could do as good a job as economic 'forecasting' as the IMF,

isn't that the Mission Impossible team that Tom Cruise heads?

[Billy Castell]

Is PG's son a Scientologist?

Anyway, I was watching The Daily Show, and according to them 99% of General Motors is now owned by the US government, whilst a large percentage of Chrysler is owned by the UAW trade union. Tony Benn would be delighted by such a set-up. Socialism is striding forth in the USA, and the public can enjoy motoring in cars akin to the Austin Maxi or other beige and brown cars. I wonder if the US motor industry will have to adhere to any environmental policies that Obama will try to introduce. We may see the decline of the SUVs with massive inefficient engines.

[dave birch]

Just picked this from the ABC (aust news website)

"The US Federal Reserve is looking at using more ratings agencies to assess credit risk in relation to commercial property loans, as well as consumer and small business debt.

Moody's, Standard and Poor's and Fitch Ratings are influential institutions and the big three of credit ratings, but their flawed assessment of risky debt-related investments almost brought the world's financial system down. "

It turns out that Moody's, S &P etc all rate for organisations that are exposed to debt and are therefore prone to rate on "exposure" as well as "risk". They may well have hit on the same "take it easy" strategy at the same time.....

[Hughesy]

So Financial bods....

Is the UK starting to come out of the recession?! I dont know because I dont follow it all closely enough - but here are some positive signs -

New home loans went up 16% last month, Uk output was up 0.3% and Manufacturing rose by 0.2%, inflation is now expected to be 2.4% and today the pounds is at its strongest point against the Euro for the whole of 2009 - Up currently at 1.175 against the pound.

Views from the people who follow it all very closely please?!?!?

[jim mk2]

Is the UK starting to come out of the recession?!

The answer is an unequivocal "yes". All the indicators show the economy has stopped contracting and as you say in several sectors the data have turned positive.

Unemployment is a lagging indicator so unfortunately there are likely to be more job losses in the coming months but in many areas of the economy business is improving - and just as important - confidence is returning.

If the recovery takes hold Britain could well be the first leading European nation to emerge from recession, showing the government's policies to tackle the global recession are working. The Tory solution to the worldwide crisis was of course to do absolutely nothing.

So, the overall picture is getting brighter and provided the recovery spreads around the globe and leading economies such as France and Germany loosen their monetary purse strings by the time of the 2010 election Britain will be back on the growth path.

Much to the disgust of the Tory boys no doubt.

[Hughesy]

Time to buy property & shares yet or wait until autumn or later??

[tashor]

Unemployment is a lagging indicator so unfortunately there are likely to be more job losses in the coming months

True. Unemployment will continue to rise after the next general election. BLOODY TORIES EH ....................

[Ozz]

Hughesy-as someone who has wonderful holidays, an expensive Audi, very expensive Christmas pressies and needs an O2 store to open at midnight so you can splash £400 odd on a new phone, how are you coping with the worst economic downturn since the thirties?

[Hughesy]

Ha what you like! No problem mate - off to San Antonio, Ibiza next friday lol!! Could do with a payrise though....u?

[Neil Weaver]

Hughesy-as someone who has wonderful holidays, an expensive Audi, very expensive Christmas pressies and needs an O2 store to open at midnight so you can splash £400 odd on a new phone, how are you coping with the worst economic downturn since the thirties?

Ha what you like! No problem mate - off to San Antonio, Ibiza next friday lol!! Could do with a payrise though....u?

Time to be a Rovers benefactor? It'd cheer Vinjay up (if that's possible)

[Hughesy]

I wish mate - maybe in the future.....