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(Daily Star)   British have fastest-growing economy in the western world right now. Suck it, China   (dailystar.co.uk ) divider line
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771 clicks; posted to Business » on 22 Jul 2014 at 7:40 AM (1 year ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2014-07-21 08:27:14 PM  
Does subby know that China isn't in the western world?  It's pretty much the exact opposite.
 
2014-07-22 12:34:18 AM  

Spiralmonkey: Does subby know that China isn't in the western world?  It's pretty much the exact opposite.


Everything's west of something.  Except the North and South Poles I guess.
 
2014-07-22 12:41:53 AM  

Spiralmonkey: Does subby know that China isn't in the western world?  It's pretty much the exact opposite.


Forgive  subby, his choice of headline was occidental.
 
2014-07-22 12:44:36 AM  
Well this went south fast.
 
2014-07-22 12:53:47 AM  
Ummmm, I'm looking at the Pacific out my window right now (in Newport Beach) and I'm pretty sure China is WEST of me. So for all you smarty pants correcting Subby about where China is-- from my perspective, you're wrong.

Those Chinese couldn't be more Western if you put stirrups on them, rubbed them down with sagebrush, and taught them to sing "Home on the Range."

(Just tell them it's "Home on the Lange" and they'll sing it perfectly)
 
2014-07-22 01:08:57 AM  
Experts say the good times are back and predict 3.1% growth this year.

And predictions, as we know, are never wrong. And never mind that the EY Item Club is based in the UK. And that also only includes the G7. I'm sure there are plenty of other "Western" countries that will have better GNP growth this year.
 
2014-07-22 07:51:19 AM  

haemaker: Spiralmonkey: Does subby know that China isn't in the western world?  It's pretty much the exact opposite.

Forgive  subby, his choice of headline was occidental.


So, send subby to reorientation camp? ;p
 
2014-07-22 07:53:07 AM  
Man, Doctor Who revenue must be through the roof.
 
2014-07-22 08:00:55 AM  
Gee, you mean trying to not live beyond your means can benefit you? Youdontsay.jpg

/Austerity FTW.
 
2014-07-22 08:30:26 AM  
The article doesn't even say that they're the fastest growing Western economy, where did Submittard come up with that?
 
2014-07-22 08:31:13 AM  

Debeo Summa Credo: Gee, you mean trying to not live beyond your means can benefit you? Youdontsay.jpg

/Austerity FTW.


I thought the UK was one of the EU nations explicitly not using austerity measures.
 
2014-07-22 08:56:53 AM  

FirstNationalBastard: Man, Doctor Who revenue must be through the roof.


Mushed pea exports are through the roof!
 
2014-07-22 09:29:13 AM  

LucklessWonder: Debeo Summa Credo: Gee, you mean trying to not live beyond your means can benefit you? Youdontsay.jpg

/Austerity FTW.

I thought the UK was one of the EU nations explicitly not using austerity measures.


No, they did make cuts to government jobs, both in total jobs and in pay / benefits to government workers who stayed on, although they still have a significant safety net for the public.

But it's important to note that 1) they're not on the Euro or pegged to the Euro like most of the continent, 2) the Bank of England has been steadily pursuing QE since 2009, and 3) the British economy has experienced a double-dip during the period when the US has seen steady growth. Even with this optimistic estimate, their GDP* is still almost 10% below their GDP in 2008, whereas the US* bounced past their 2008 mark in 2011.

*There are a few things to adjust for in the above sources, namely population and inflation, but since we're talking about austerity and debt reduction, total nominal GDP is relevant since that represents your tax base.
 
2014-07-22 09:30:38 AM  

LucklessWonder: Debeo Summa Credo: Gee, you mean trying to not live beyond your means can benefit you? Youdontsay.jpg

/Austerity FTW.

I thought the UK was one of the EU nations explicitly not using austerity measures.


FTA:

"Prime Minister David Cameron said the news proves the Government's austerity plan is working."

Realistically speaking, austerity makes sense sometimes and at other times it does not make sense. When an economy is in deep recession but can still access capital markets without adversely affecting their creditworthiness (Eg US in 2009) it makes sense to borrow and spend. Other times it is less worthwhile and often counterproductive.
 
2014-07-22 09:38:29 AM  

costermonger: Well this went south fast.


Hey now, it's not easy to come up with a witty headline.  Give subby a little latitude to make a joke.
 
2014-07-22 10:02:37 AM  
Please make more British products. Starting with more Keiras and more Helena Bonhams, please.
 
2014-07-22 10:04:06 AM  
Did subby even read the article?
 
2014-07-22 10:30:27 AM  

Shazam999: FirstNationalBastard: Man, Doctor Who revenue must be through the roof.

Mushed pea exports are through the roof!


Benedict Cumberbatch film and TV revenue must be through the roof!
 
2014-07-22 10:46:44 AM  
Last night Peter Spencer, chief economic adviser to the Item Club, said: "Business investment is being ramped up, generating over half of the growth over the last year and helping to rebalance the economy away from consumption."


In other words, we're concentrating economic growth above the levels of consumers. fark the consumer.
 
2014-07-22 10:53:28 AM  
Thank you David Cameron.
 
2014-07-22 11:02:12 AM  

Debeo Summa Credo: Gee, you mean trying to not live beyond your means can benefit you? Youdontsay.jpg

/Austerity FTW.


It's absolutely time to end corporate welfare programs.
 
2014-07-22 11:05:09 AM  
Socialist hellhole!
 
2014-07-22 11:11:43 AM  

Jiro Dreams Of McRibs: Please make more British products. Starting with more Keiras and more Helena Bonhams, please.


However, fewer vehicles with Lucas electrical components.
 
2014-07-22 11:12:00 AM  
I saved the following quote/link quite awhile ago and now I am glad that I did:

-"The UK is likely to avoid recession in 2008, experiencing only a more mild "rebalancing" of the economy, according to forecasts by the Ernst & Young ITEM Club."
http://www.telegraph.co.uk/finance/economics/2783020/UK-to-escape-re ce ssion-Item-Club-says.html

EY ITEM Club did underestimate the depth of the recession and to make matters worse by late 2011 they had to admit that the UK would likely have a double dip recession due to the negative quarterly growth numbers they were seeing.
(You can read their winter 2011 report here: http://www.ey.com/Publication/vwLUAssets/Economic_outlook_Winter_2012 / $FILE/EY_ITEM_Economic_Outlook_Winter_2012.pdf)

//The double-dip was later confirmed when the 2012 numbers came out and showed yet another quarter of negative growth.
//Fast forward to early 2013 and EY ITEM Club was warning that: "Britain's economy is entering a "low-growth landscape"(Link here for the quote  http://www.ibtimes.co.uk/e-y-item-club-uk-growth-forecast-426107)
//By the end of 2013 the UK had somewhere between .8% and 1.9% growth (The percentage depends on what source you use)
//Of course between the start of 2013 and its end EY ITEM Club was constantly changing its forecast.
//As data changes so too does the predictions of EY ITEM Club.
//Just wait for the final numbers since EY ITEM Club could be wrong.
 
2014-07-22 12:04:14 PM  
Austerity is one of the reasons the US isn't growing as fast as it usually does coming out of a recession.  Ordinarily, Congress would pass jobs and infrastructure projects.  But since Obama would get credit for any job growth, the GOP has clamped down on spending in the name of austerity.  They'd rather hurt the country than see Obama get any praise.
 
2014-07-22 12:08:40 PM  
i.dailymail.co.uk


Yup...
 
2014-07-22 12:50:25 PM  

LucklessWonder: Debeo Summa Credo: Gee, you mean trying to not live beyond your means can benefit you? Youdontsay.jpg

/Austerity FTW.

I thought the UK was one of the EU nations explicitly not using austerity measures.


The UK is four nations.
 
2014-07-22 02:36:15 PM  

Shadow Blasko: [i.dailymail.co.uk image 634x263]


Yup...


Haha. I have mixed feelings about that show's transition from a car enthusiast series to what is basically sketch comedy.  But it is pretty funny at times.
 
2014-07-22 06:53:57 PM  
B-b-b-but socialism!
 
2014-07-22 07:19:48 PM  

Incontinent_dog_and_monkey_rodeo: Austerity is one of the reasons the US isn't growing as fast as it usually does coming out of a recession.  Ordinarily, Congress would pass jobs and infrastructure projects.  But since Obama would get credit for any job growth, the GOP has clamped down on spending in the name of austerity.  They'd rather hurt the country than see Obama get any praise.


And if we hadn't sent $6 trillion down the Bush memory hole, we would have had a lot more room to maneuver in 2008.
 
2014-07-23 12:04:54 AM  

Incontinent_dog_and_monkey_rodeo: Austerity is one of the reasons the US isn't growing as fast as it usually does coming out of a recession.  Ordinarily, Congress would pass jobs and infrastructure projects.  But since Obama would get credit for any job growth, the GOP has clamped down on spending in the name of austerity.  They'd rather hurt the country than see Obama get any praise.


Austerity? LOL.  You guys are QE'ing like it's going out of style.
 
2014-07-23 06:04:21 AM  
I was "googling" for the segment of "The Middle" where Axel says, "Suck it, China".  Nothing relevant came up and now Google thinks I hate China.
 
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