UK Economy Now in Recession

[sealybobo]

It is quite clear that Labour’s manifesto document was a work of fraud. They had no intention saying what they would do because if they did, they knew they wouldn’t get elected. And once elected, they had no intention of doing what they said they’d do because, well, that’s just not Labour. The “no tax increases on working people” preceded an immediate tax increase on working people, which they tried to get out of by fooling us that adding the cost to employer rather than the employee wasn’t effectively the same thing. This ruse only worked with the die-hard Labour faithful. Likewise their farm tax. In 2023 they committed to maintaining agricultural property relief, only to remove it as soon as they had the opportunity. Likewise on energy prices. To get elected they promised energy bills would fall by £300 per year. Since Labour came to power, they have increased by £170 per year.

People have taken one look at the reality of the Labour government and said “Huh? This isn’t what I voted for”. Consequently, Starmer’s popularity tanked so badly that he was forced into a “reset” speech, which he hoped would “relaunch” his government. And guess what? His popularity has just tanked again.

We should really take pity on the Labour Party. They have a set of policies and ideologies that if implemented, are ruinous for the country’s economy, society and international standing. Therefore (unlike the Tories) they can’t tell us what they actually want to do because if they did, they’d be dumped out on their ear and they know it. So they have to spin a tissue of lies. The Tories’ suffered a lot after the last election when the Prime Minister was exposed as a liar. But that was just one individual. It’s as nothing compared with Labour’s problem. Lying to the electorate before the election is hardwired into their payoff matrix. It’s an adaptive characteristic of the Labour Party, an intrinsic part of who they have to be to exist.

Quora.

The CORPOURATIST party (I added the U) gives the rich and corporations all the tax breaks and they don't allow it to trickle down to labor. Thus widening the gap between them and us. And this creates inflation. So suddenly your $1 million dollars doesn't really mean that much anymore. So how you gonna retire now?

Many workers in the Labour party have enough money to retire when they turn 65. Do you?

 

[ShahdagMountains]

The CORPOURATIST party (I added the U) gives the rich and corporations all the tax breaks and they don't allow it to trickle down to labor. Thus widening the gap between them and us. And this creates inflation. So suddenly your $1 million dollars doesn't really mean that much anymore. So how you gonna retire now?

Many workers in the Labour party have enough money to retire when they turn 65. Do you?

I’m not in the Labour Party. I’m not in any party. I’m disenfranchised.

 

[sealybobo]

I’m not in the Labour Party. I’m not in any party. I’m disenfranchised.

So you're not doing well? Not saving enough to retire? So you want to burn the whole thing down? Take the rest of us with you because you failed in life?

 

[ShahdagMountains]

So you're not doing well? Not saving enough to retire? So you want to burn the whole thing down? Take the rest of us with you because you failed in life?

Another vapid oaf.

 

[sealybobo]

Another vapid oaf.

Do you work or "labour"? What kind of labour do you do?

 

[ShahdagMountains]

Do you work or "labour"? What kind of labour do you do?

Mind your own business.

 

[sealybobo]

Mind your own business.

Clearly you aren't proud of it. And you definitely aren't saving enough for retirement. So you want to take us all down with you. Trump and Musk will oblige you.

 

[ShahdagMountains]

Clearly you aren't proud of it. And you definitely aren't saving enough for retirement. So you want to take us all down with you. Trump and Musk will oblige you.

You are a most unpleasant character.

 

[sealybobo]

UK Economy Now in Recession - NIESR

It now looks like the UK economy entered a recession in the second quarter of this year.

niesr.ac.uk

It now looks like the UK economy entered a recession in the second quarter of this year as GDP fell by 0.1 per cent, and we expect output to continue falling over the next three quarters. On the expenditure side, the fall in Q2 was driven by a 0.2 per cent fall in consumption; on the output side, by a 0.4 per cent fall in services, particularly, health and social work. GDP fell by 0.6 per cent in June after a revised rise of 0.4 per cent in May as the Platinum Jubilee celebrations affected the monthly profiles.”

This was one of the many predictions before the election, Labour would cause a recession. We haven't hit the effects of their appalling budget yet, that lands April 2025.

Liz Truss, all is forgiven. Labour, what a complete and utter utter utter disaster.

Okay. So you guys predicted a recession was coming all 4 years of Biden's presidency. One never came.

Now we are predicting one's coming. Because of Trump.

It “seems almost unavoidable at this point” that the United States is “headed for a deep, deep recession” thanks to the Trump administration’s massive government job cuts and pullback from official contracts, a former Obama-era Department of Labor economist has warned.

“bigger job losses than any month ever outside of a few in 2008-9 and 2020.” (I.e. — when America was hit by the 2008 financial crash and then, later, by the coronavirus pandemic).

Rothstein also envisioned “enormous private market uncertainty” that would make companies reluctant to hire.

The current total number of federal jobs cut is unclear.
But Rothstein estimated it to be more than 200,000.
The gutting of government is just one Trump policy that economists have warned could plunge America into a new financial crisis.
Others include Trump’s imposition of tariffs on imports and his vow to deport millions of undocumented immigrants.

the tariffs could cause stagflation — or stagnant economic growth, high inflation and rising unemployment. He added that the U.S. is becoming “a scary place to invest” amid the ripping up of government contracts.

‘Very, Very Bad’: Ex-Government Economist Makes Bleakest Trump Prediction

Jesse Rothstein warned it “seems almost unavoidable at this point.”

www.huffpost.com

 

[Captain Caveman]

Okay. So you guys predicted a recession was coming all 4 years of Biden's presidency. One never came.

Now we are predicting one's coming. Because of Trump.

It “seems almost unavoidable at this point” that the United States is “headed for a deep, deep recession” thanks to the Trump administration’s massive government job cuts and pullback from official contracts, a former Obama-era Department of Labor economist has warned.

“bigger job losses than any month ever outside of a few in 2008-9 and 2020.” (I.e. — when America was hit by the 2008 financial crash and then, later, by the coronavirus pandemic).

Rothstein also envisioned “enormous private market uncertainty” that would make companies reluctant to hire.

The current total number of federal jobs cut is unclear.
But Rothstein estimated it to be more than 200,000.
The gutting of government is just one Trump policy that economists have warned could plunge America into a new financial crisis.
Others include Trump’s imposition of tariffs on imports and his vow to deport millions of undocumented immigrants.

the tariffs could cause stagflation — or stagnant economic growth, high inflation and rising unemployment. He added that the U.S. is becoming “a scary place to invest” amid the ripping up of government contracts.

‘Very, Very Bad’: Ex-Government Economist Makes Bleakest Trump Prediction

Jesse Rothstein warned it “seems almost unavoidable at this point.”

www.huffpost.com

Ok

 

[JWBooth]

UK Economy Now in Recession​

Hasn’t this been the case since 1965?

 

[luiza]

How are they harmed?

The same way that all working class people are treated -- lack of jobs and money versus higher costs plus a reduction in services quality /reliability .
Chapter One and I am sure you know it

 

[pknopp]

The same way that all working class people are treated -- lack of jobs and money versus higher costs plus a reduction in services quality /reliability .
Chapter One and I am sure you know it

Japan was in a recession for years. They did OK.

 

[sealybobo]

Ok

If he causes a recession, what are you going to say? You gonna blame Biden? Of course you are.

 

[Captain Caveman]

If he causes a recession, what are you going to say? You gonna blame Biden? Of course you are.

I'm English living in Southern Scotland, so I blame useless Labour.

 

[sealybobo]

I'm English living in Southern Scotland, so I blame useless Labour.

Scottish waters consisting of a large sector of the North Atlantic and the North Sea, containing the largest oil resources in Western Europe – The UK is one of Europe's largest petroleum producers, with the discovery of North Sea oil transforming the Scottish economy.

Block Grant funding for the Scottish Government is the highest since devolution began at around £41 billion a year for 2022-2025. This means that for every £100 per person the UK Government spends in England on matters devolved to Scotland, the Scottish Government will receive around £126 per person in Scotland.

But around one-fifth of Scotland's people – more than a million of us – live in poverty, and that figure has hardly changed in the last 20 years.

1 in 5. Pretty bad

Scotland has high levels of income inequality, with the wealthiest households having much more income than the poorest. This inequality can lead to poverty, which is also prevalent in Scotland.

• In 2020-2023, the top 10% of households had 34% more income than the bottom 40%.
  
  
• In 2018-2020, the wealthiest 2% of households owned 18% of Scotland's total wealth.
  
  
• In 2019-2022, 21% of Scotland's population lived in poverty after housing costs.