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**LoP Guest** lop guest User ID: 50044 04-26-2012 05:23 AM

is it really that bad out there?

**Ragnar Ragnarsson**

I can't seem to find any concrete number, but i know the financial sector is a huge percentage of the UK economy, here in the USA it is 40%, I think in the UK it is closer to 75%.

I don't see how any economy can survive when such a large portion of it's economy is basically gambling.

When the financial sector collapses, and it will, since it is all based on fake derivatives, then things are only going to get 100 times worse.

**David**

Cascinova Wrote:

I can't seem to find any concrete number, but i know the financial sector is a huge percentage of the UK economy, here in the USA it is 40%, I think in the UK it is closer to 75%.

I don't see how any economy can survive when such a large portion of it's economy is basically gambling.

When the financial sector collapses, and it will, since it is all based on fake derivatives, then things are only going to get 100 times worse.

Paper tiger -- but that IS what the US is becoming as well.

Good point.

**Richard Eldritch**

Strategos Wrote:

Richard Eldritch Wrote:
It's f*cking hard in London and has been since 2008. f*ck knows how bad it must be up north.

You're not a Northerner?

Are you a Southern Fairy?

I believe the correct term is "soft southern bastard"

**LoP Guest** lop guest User ID: 44595 04-26-2012 09:39 AM

Rager Wrote:

(Reuters) - Britain's economy is in its second recession since the financial crisis, data showed on Wednesday, heaping pressure on Prime Minister David Cameron's coalition government as it battles a series of political embarrassments.

The unexpected contraction in the first three months of 2012 - a 0.2 percent dip in gross domestic product - confounded forecasts for 0.1 percent growth.

It came as Britain's Conservative-Liberal Democrat coalition has seen its support slide in opinion polls following weeks of fierce criticism for unpopular tax measures in last month's budget. Local elections, a big test, are on May 3.

The government is also under fire over revelations about its close relationship with media tycoon Rupert Murdoch.

The Office for National Statistics said Britain's gross domestic product fell 0.2 percent in the first quarter of 2012 after contracting by 0.3 percent at the end of 2011.

Most economists had expected Britain's economy to eke out modest growth in early 2012, but these forecasts were upset by the biggest fall in construction output in three years coupled with anaemic service sector growth and a fall in industrial output.
http://www.reuters.com/article/2012/04/2...C320120425
Another domino? No surprise? Your thoughts?

Everything is fine, it's just "this economy," and "this economy" is nothing to get upset over.

**The Other Side** lop guest User ID: 92769 04-26-2012 10:51 AM

LoP Guest Wrote:

is it really that bad out there?

For some:

http://www.bbc.co.uk/news/uk-17851077

**LoP Guest** lop guest User ID: 87381 04-26-2012 10:56 AM

Cascinova Wrote:

I can't seem to find any concrete number, but i know the financial sector is a huge percentage of the UK economy, here in the USA it is 40%, I think in the UK it is closer to 75%.

I don't see how any economy can survive when such a large portion of it's economy is basically gambling.

When the financial sector collapses, and it will, since it is all based on fake derivatives, then things are only going to get 100 times worse.

I've wondered about this, if the UK is the financial centre, and has the best financial minds, do you not think they'll have thought of a myriad of ways in which to stitch everyone else up while keeping themselves safe? not that I think that making the rest of the world your enemy a good thing, but I am not sure they would care if it protects their own arses.

Interestingly British companies seem to be building a firewall as they have by recent numbers some 50% of UKs GDP stockpilled (£800bn), a stockpile that is rapidly increasing. I would assume American companies are doing the same since we seem to work hand in hand on most things.. perhaps they are positioning themselves to start the dominoes rolling and then go out into the aftermath buying up their competition for pennies [cents] on the pounds [dollar].

But that is only my guess, and on that I expect we will have to wait and see what the outcome will be.

**Gibbie** · **Gibbie** ^D ^D ^D whoa User ID: 49076 04-26-2012 11:56 AM **Posts: 7,187**

David Wrote:

Gibbie Wrote:
LoP Guest Wrote:
Everyone goes on about Gold back currency, let me ask you something, have you ever checked our economic history prior to getting off the gold standard?

We had a long history of economic depressions and recessions prior to getting off the gold standard.

The solution is just for the Federal government to do away with the central bank, and print it's own greenbacks. That's what kennedy tried to do, that's what Hitler did. Simply printed money that was backed with the promise of Germany labor, and it created a huge economic boom.

^^^this

Look at the history of monetary metal standards before singing it's praises.

I already answered that one -- I do not support a gold standard and I never have.

But you like debt-based fiat currency.

Keep payin' them taxes then to give to the bankers.

Oh com'on I never said I liked debt based currency.

**LoP Guest** lop guest User ID: 90522 04-26-2012 02:41 PM

No one told me we came out of the last one???

WTF??

Itnever ended, still paying ridiculous money on food and fuel, prices still rising, the last recession NEVER ended, they cooked the books....AGAIN, to make it appear so.