Greg, now can we get rid of Osborne please?

Come and join in the banter: discuss here anything you want, whether bike related or not!
User avatar
DonDaddyD
Posts: 12032
Joined: Tue Jun 19, 2007 12:58 pm

Greg, now can we get rid of Osborne please?

Postby DonDaddyD » Fri Jan 25, 2013 11:01 am

Britain could be on course for its third recession in four years after the economy shrank by 0.3% in the last three months of 2012.

http://www.bbc.co.uk/news/business-21193525
http://www.guardian.co.uk/business/2013 ... ession-gdp

Or at the very least can I punch him in the face?

Seriously though, everyone is broke, everything is expensive, no one is making anything and I thought the highstreet in Wimbledon looked barren until I went to Croydon - jeez. Then there is all the confusion with education, healthcare and the decimation of other public services. Things do not look good.

Discuss.
Last edited by DonDaddyD on Fri Jan 25, 2013 11:08 am, edited 1 time in total.
Food Chain number = 4

A true scalp is not only overtaking someone but leaving them stopped at a set of lights. As you, who have clearly beaten the lights, pummels nothing but the open air ahead. ~ 'DondaddyD'. Player of the Unspoken Game

User avatar
TailWindHome
Posts: 10571
Joined: Mon Sep 15, 2008 08:57 am

Re: Greg, now can we get rid of Osborne please?

Postby TailWindHome » Fri Jan 25, 2013 11:06 am

Who know who should replace him.







That's right.

Sharktopus. He sort this sh1t out and no mistake.


Discuss.
"ARE YOU NOT ENTERTAINED? IS THIS NOT WHY YOU ARE HERE?"

User avatar
notsoblue
Posts: 5771
Joined: Thu Apr 22, 2010 18:08 pm

Re: Greg, now can we get rid of Osborne please?

Postby notsoblue » Fri Jan 25, 2013 11:07 am

How do you pick and choose who you tug your forelock to? I can't figure it out.

User avatar
Koncordski
Posts: 976
Joined: Thu Jun 09, 2011 15:55 pm

Re: Greg, now can we get rid of Osborne please?

Postby Koncordski » Fri Jan 25, 2013 11:08 am

DonDaddyD wrote:Britain could be on course for its third recession in four years after the economy shrank by 0.3% in the last three months of 2012.

http://www.bbc.co.uk/news/business-21193525
http://www.guardian.co.uk/business/2013 ... ession-gdp

Or at the very least can I punch him in the face?

Discuss.


The guardian and the BBC, balanced. I think you're giving him entirely too much credit if you think that changing him will magically fix the problems we're in.
----------------
#1 Brompton S2L Raw Lacquer, Leather Mudflaps
#2 Boeris Italia race steel
#3 Scott CR1 SL
#4 Trek 1.1 commuter
#5 Peugeot Grand Tourer (Tandem)

User avatar
Veronese68
Lives Here
Posts: 13601
Joined: Mon Sep 27, 2010 15:48 pm

Re: Greg, now can we get rid of Osborne please?

Postby Veronese68 » Fri Jan 25, 2013 11:11 am

DonDaddyD wrote:Seriously though, everyone is broke, everything is expensive, no one is making anything and I thought the highstreet in Wimbledon looked barren until I went to Croydon - jeez.

Go to Raynes Park. Not far and supposedly it has the most occupied high street in the country or something. That'll cheer you up.

User avatar
TailWindHome
Posts: 10571
Joined: Mon Sep 15, 2008 08:57 am

Re: Greg, now can we get rid of Osborne please?

Postby TailWindHome » Fri Jan 25, 2013 11:18 am

DonDaddyD wrote:Seriously though, everyone is broke, everything is expensive, no one is making anything and I thought the highstreet in Wimbledon looked barren until I went to Croydon - jeez. Then there is all the confusion with education, healthcare and the decimation of other public services. Things do not look good.

Discuss.



On the plus side the global warming seems to have gone away. Swings and roundabouts I suppose.
"ARE YOU NOT ENTERTAINED? IS THIS NOT WHY YOU ARE HERE?"

User avatar
DonDaddyD
Posts: 12032
Joined: Tue Jun 19, 2007 12:58 pm

Re: Greg, now can we get rid of Osborne please?

Postby DonDaddyD » Fri Jan 25, 2013 11:22 am

Koncordski wrote:
DonDaddyD wrote:Britain could be on course for its third recession in four years after the economy shrank by 0.3% in the last three months of 2012.

http://www.bbc.co.uk/news/business-21193525
http://www.guardian.co.uk/business/2013 ... ession-gdp

Or at the very least can I punch him in the face?

Discuss.


The guardian and the BBC, balanced. I think you're giving him entirely too much credit if you think that changing him will magically fix the problems we're in.

Even if 40+ years ago a virgin gave birth to a child and that child grew up to love this Country and had a godly nounce for economics and they became Chancellor, I doubt they would be able to magically solve things. Europe is a mess and we can't compete with emerging markets - but internally the trading between one British company to another and having an insular wealth, we can't even seem to encourage that.

But why I think Osborne needs to be pushed if he won't step down is because people said the plan wouldn't work, they were dismissed as the hysterical opposition. The plan wasn't working and then the business minds pointed it out and they were dismissed as doom sayers geared towards caution. The plan didn't work and the people and shop owners pointed this out and we were dismissed and told to weather the storm. The plan hasn't worked and I think the dude wants to cut even more. Cuts are fine, but what is he going to do to encourage growth and create jobs? That questioned was asked years ago and nearly every measure he has implemented has had marginal effects while he continues his deficit programme which is at the heart of our stalling economy.

AND NO, I don't think the Government can go on spending providing public sector jobs at a rate similar to the previous Government. But as oppose to a slow and steady reduction in public funding and benefits so that the private sector could slowly pick up the flak.

Someone just let me punch him in the face.
Food Chain number = 4



A true scalp is not only overtaking someone but leaving them stopped at a set of lights. As you, who have clearly beaten the lights, pummels nothing but the open air ahead. ~ 'DondaddyD'. Player of the Unspoken Game

User avatar
DonDaddyD
Posts: 12032
Joined: Tue Jun 19, 2007 12:58 pm

Re: Greg, now can we get rid of Osborne please?

Postby DonDaddyD » Fri Jan 25, 2013 11:25 am

Veronese68 wrote:
DonDaddyD wrote:Seriously though, everyone is broke, everything is expensive, no one is making anything and I thought the highstreet in Wimbledon looked barren until I went to Croydon - jeez.

Go to Raynes Park. Not far and supposedly it has the most occupied high street in the country or something. That'll cheer you up.

I went to Raynes Park, I looked for Woolworths, HMV, Game, Comet, Blockbuster, Jessops, JJB, Clinton Cards, Peacocks, Blacks, Barrets and La Senza. Couldn't find any of them.
Food Chain number = 4



A true scalp is not only overtaking someone but leaving them stopped at a set of lights. As you, who have clearly beaten the lights, pummels nothing but the open air ahead. ~ 'DondaddyD'. Player of the Unspoken Game

jds_1981
Posts: 1479
Joined: Wed Nov 25, 2009 22:47 pm

Re: Greg, now can we get rid of Osborne please?

Postby jds_1981 » Fri Jan 25, 2013 11:29 am

DonDaddyD wrote:But why I think Osborne needs to be pushed if he won't step down is because people said the plan wouldn't work, they were dismissed as the hysterical opposition.

TBF, they were the comments on the guardian website. Quite a few business 'leaders' and economists were behind the plans.
FCN 9 || FCN 5

User avatar
mudcow007
Posts: 3605
Joined: Wed Apr 08, 2009 18:06 pm

Re: Greg, now can we get rid of Osborne please?

Postby mudcow007 » Fri Jan 25, 2013 11:31 am

DonDaddyD wrote:I went to Raynes Park, I looked for Woolworths, HMV, Game, Comet, Blockbuster, Jessops, JJB, Clinton Cards, Peacocks, Blacks, Barrets and La Senza. Couldn't find any of them.


So you went looking for -

pick n mix
cheat book for super mario brothers
washing machine
keep fit dvd
camera to record your self doing (above) keep fit dvd
swimmers cap
from me to you tacky teddy bear
a nice cardigan from peacocks
a tent for when your mrs see's your recorder keep fit video an slings you out
tap dance shoes
an a sports bra...

sounds like my average weekly shop
Keeping it classy since '83

jds_1981
Posts: 1479
Joined: Wed Nov 25, 2009 22:47 pm

Re: Greg, now can we get rid of Osborne please?

Postby jds_1981 » Fri Jan 25, 2013 11:32 am

DonDaddyD wrote:I went to Raynes Park, I looked for Woolworths, HMV, Game, Comet, Blockbuster, Jessops, JJB, Clinton Cards, Peacocks, Blacks, Barrets and La Senza. Couldn't find any of them.


Barely viable businesses close during a recession. Sucks but what do you expect?
FCN 9 || FCN 5

User avatar
TheStone
Posts: 2202
Joined: Sat Oct 04, 2008 12:50 pm

Re: Greg, now can we get rid of Osborne please?

Postby TheStone » Fri Jan 25, 2013 11:36 am

There really isn't much austerity. They're still printing and spending as much as they can get away with.

The level of GDP we had was based on unsustainable debt. That burst in a bad way. We're not going to see growth for many, many years.

User avatar
Veronese68
Lives Here
Posts: 13601
Joined: Mon Sep 27, 2010 15:48 pm

Re: Greg, now can we get rid of Osborne please?

Postby Veronese68 » Fri Jan 25, 2013 11:37 am

DonDaddyD wrote:
Veronese68 wrote:
DonDaddyD wrote:Seriously though, everyone is broke, everything is expensive, no one is making anything and I thought the highstreet in Wimbledon looked barren until I went to Croydon - jeez.

Go to Raynes Park. Not far and supposedly it has the most occupied high street in the country or something. That'll cheer you up.

I went to Raynes Park, I looked for Woolworths, HMV, Game, Comet, Blockbuster, Jessops, JJB, Clinton Cards, Peacocks, Blacks, Barrets and La Senza. Couldn't find any of them.

Yep, you've been to Raynes Park.

User avatar
DonDaddyD
Posts: 12032
Joined: Tue Jun 19, 2007 12:58 pm

Re: Greg, now can we get rid of Osborne please?

Postby DonDaddyD » Fri Jan 25, 2013 11:46 am

TheStone wrote:There really isn't much austerity. They're still printing and spending as much as they can get away with.

The level of GDP we had was based on unsustainable debt. That burst in a bad way. We're not going to see growth for many, many years.

I'm not expecting the UK to maintain a level of GDP it had under the Labour years. It was just unsustainable it was artificial and what we are seeing is probably closer to our current level of GDP. The issue is how quickly we get there and the ripple effect too quick a drop will have.

Think of it this way. The ground is the real GDP and the stone in your hand is public spending/borrowed money and it is held at the height of the inflated (false) GDP. You drop the stone (literally stop public spending and borrowing money) from that height and not only does it hit the ground but it sends out waves which disrupts everything else. You do the same thing again but this time you don't drop the stone, you lower it gentley, slowly but surely until it reaches the ground. When it does reach the ground there are no waves causing additional damage.

Osborne cut too quickly too harshly. He should have taken a slowly more managable deficit reduction approach so that the economy could compensate with it.
Food Chain number = 4



A true scalp is not only overtaking someone but leaving them stopped at a set of lights. As you, who have clearly beaten the lights, pummels nothing but the open air ahead. ~ 'DondaddyD'. Player of the Unspoken Game

User avatar
Coopster the 1st
Posts: 431
Joined: Fri Jul 17, 2009 10:28 am

Re: Greg, now can we get rid of Osborne please?

Postby Coopster the 1st » Fri Jan 25, 2013 11:49 am

DonDaddyD wrote:But why I think Osborne needs to be pushed if he won't step down is because people said the plan wouldn't work, they were dismissed as the hysterical opposition. The plan wasn't working and then the business minds pointed it out and they were dismissed as doom sayers geared towards caution. The plan didn't work and the people and shop owners pointed this out and we were dismissed and told to weather the storm. The plan hasn't worked and I think the dude wants to cut even more. Cuts are fine, but what is he going to do to encourage growth and create jobs? That questioned was asked years ago and nearly every measure he has implemented has had marginal effects while he continues his deficit programme which is at the heart of our stalling economy.

AND NO, I don't think the Government can go on spending providing public sector jobs at a rate similar to the previous Government. But as oppose to a slow and steady reduction in public funding and benefits so that the private sector could slowly pick up the flak.

Someone just let me punch him in the face.


Let's put this simplified scenario to you taking your personal finances:

- In the year 2000 you are earning £25k a year
- You predict you will be earning £40k in 2005
- Because you will earn £40k in 2005, you spend £40k this year and every year upto 2005 knowing that in 2005 you will be earning enough to cover what you are spending. You are borrowing to cover your spending
- Year earn £40k in 2005 :)
- You predict you will earn £60k in 2010
- You spend £60k in 2005 and every following year with the knowledge your 2010 earnings will cover this. Again you are borrowing to cover your spending
- In 2007 you are earning £50k and on your way to a £60k salary in 2010
- In 2008 you get a paycut to £45k and stay at that salary for the next 3 years but you still spend £60k a year

It comes to 2010 and your bank says that are your salary is no longer rising and you have so much debt that you are now no longer allowed to borrow to cover your spending. How much pain and how long do you think it will take for you to get to a point where you would be comfortable again?

The above on a much larger scale is what we are now having to deal with. I don't think it matters who is in charge of the plan, until we are at a resolution, it is going to be painful!
Fair-weather commuter
Canyon Ultimate CF 8.0 in Black - WOW :)
Giant Defy 2 - FCN 4(summer) / 5(winter) - Great bike
Hybrid - FCN 8 - Relegated to the pub bike

User avatar
TheStone
Posts: 2202
Joined: Sat Oct 04, 2008 12:50 pm

Re: Greg, now can we get rid of Osborne please?

Postby TheStone » Fri Jan 25, 2013 11:53 am

DonDaddyD wrote:Osborne cut too quickly too harshly. He should have taken a slowly more managable deficit reduction approach so that the economy could compensate with it.


He really hasn't cut much. The token gesture cuts so far are well below what Labour said they do.
The deficit is getting larger.

You're right that government borrowing has replaced private borrowing in an attempt to keep GDP higher. They're not even borrowing this money as it's printed by the BoE. Eventually this will collapse too.

Stag on
Posts: 93
Joined: Thu Aug 11, 2011 06:24 am

Re: Greg, now can we get rid of Osborne please?

Postby Stag on » Fri Jan 25, 2013 12:02 pm

This may be of interest

http://www.telegraph.co.uk/finance/comm ... nding.html

As "Thestone" correctly notes, public spending has barely been cut. I personally find this absolutely staggering.

I am not one to wear a tin foil hat, but I can see big problems ahead. The US financial tin can has been kicked further down the road and with the eurozone in the eye of the storm, the laser beam may soon be turned on Sterling.

jds_1981
Posts: 1479
Joined: Wed Nov 25, 2009 22:47 pm

Re: Greg, now can we get rid of Osborne please?

Postby jds_1981 » Fri Jan 25, 2013 12:06 pm

TheStone wrote:You're right that government borrowing has replaced private borrowing in an attempt to keep GDP higher. They're not even borrowing this money as it's printed by the BoE. Eventually this will collapse too.

Are you sure about this?
FCN 9 || FCN 5

User avatar
EKE_38BPM
Posts: 5852
Joined: Sat May 29, 2010 10:42 am

Re: Greg, now can we get rid of Osborne please?

Postby EKE_38BPM » Fri Jan 25, 2013 12:09 pm

It won't change the present situation, but I think deregulation of what shops can sell what is a bad thing.

If you go to a supermarket today you can buy TVs, DVD players, electrics and electronics, bike accessories, DIY stuff, clothing, books etc etc.
All of this means that specialist shops have been undercut by the various supermarkets and are now closing down/have closed down. The exception to this trend seems to have been Woolworths who stayed true to their original product spread and have now gone.
The small specialist shops in the High Street have gone to the wall and have been replaced with bookies, pawn shops and chicken shops. The big supermarkets have moved away from the High Street and into big retail parks and the small versions of the big supermarkets are ubiquitous on the High streets, having taken the place of the 'Open All Hours' type tobacconist/sweet shop/news agent.

Big chains take the money out of the local area and into the pockets of the owners; in ADSAs case, to America.

I'm not saying that I don't shop in supermarkets, because I do, but I think it is wrong to be able to walk (or in most people's cases, drive) past every small shop on the high street and buy everything from a mobile phone to mung beans, from a Blue Ray disc to bacon, from petrol to pharmaceuticals, from insurance to an ice tray, from a TV to tzatziki in one shop.
FCN 3: Raleigh Record Ace fixie-to be resurrected sometime in the future
FCN 4: Planet X Schmaffenschmack 2- workhorse
FCN 9: B Twin Vitamin - winter commuter/loan bike for trainees

I'm hungry. I'm always hungry!

Sewinman
Posts: 1997
Joined: Mon Sep 01, 2008 14:19 pm

Re: Greg, now can we get rid of Osborne please?

Postby Sewinman » Fri Jan 25, 2013 12:15 pm

Coopster the 1st wrote:
Let's put this simplified scenario to you taking your personal finances:

- In the year 2000 you are earning £25k a year
- You predict you will be earning £40k in 2005
- Because you will earn £40k in 2005, you spend £40k this year and every year upto 2005 knowing that in 2005 you will be earning enough to cover what you are spending. You are borrowing to cover your spending
- Year earn £40k in 2005 :)
- You predict you will earn £60k in 2010
- You spend £60k in 2005 and every following year with the knowledge your 2010 earnings will cover this. Again you are borrowing to cover your spending
- In 2007 you are earning £50k and on your way to a £60k salary in 2010
- In 2008 you get a paycut to £45k and stay at that salary for the next 3 years but you still spend £60k a year

It comes to 2010 and your bank says that are your salary is no longer rising and you have so much debt that you are now no longer allowed to borrow to cover your spending. How much pain and how long do you think it will take for you to get to a point where you would be comfortable again?

The above on a much larger scale is what we are now having to deal with. I don't think it matters who is in charge of the plan, until we are at a resolution, it is going to be painful!


The trouble with simplified scenarios using personal finance to analyse government spending is that they have absolutely sod all to do with government spending.


Return to “Commuting Chat”

Who is online

Users browsing this forum: corriebee1, spasypaddy, whitecot and 10 guests