2011

[Iron]

I agree.

I think, incidentally, that the reason that more people don't take that approach is that it takes effort. Negative thoughts are like a drug - they draw you in, and you have to fight it by refocusing.

I find the economy interesting, but, grave as the situation might be, I don't worry about it. As someone famously observed (I think it was Dale Carnegie), worry is like sawing sawdust!

Jeff

15 years ago I owned a company with 37 staff. Not a day went by without me having something to moan about. One day I was having a rant to a business friend, after listening for 10 minutes he said, will it matter in 100 years time. I said of course it won’t. He said well then, why does it matter now.

I didn’t think anything of it at the time, but I’ve thought a lot about it since and agree with what he said.

Michelle Obama was once quoted as saying, I never worry about things I cannot affect, Couldn’t agree more Michelle.

Let’s deal with whatever comes when (and if) it gets here guys.

[cosmicspin7]

My Dad used to say 'you worry, you die... you dont worry, you still die... So why worry???'

[PeterLe]

My Dad used to say 'you worry, you die... you dont worry, you still die... So why worry???'

..That reminds me of the US web site :-

http://shitmydadsays.com

..Maybe Dads have the answer after all!!

[Euler]

'Shock' contraction in UK economy.

http://www.bbc.co.uk/news/business-12272717

Not a surprise to see a weak quarter after that weather IMHO.

[Iron]

The weather was partly to blame for the poor figures.

But the Office for National Statistics estimates that, were it not for the poor weather, there would have been zero growth (compared to the predicted 0.7% growth).

Jeff

'Shock' contraction in UK economy.

http://www.bbc.co.uk/news/business-12272717

Not a surprise to see a weak quarter after that weather IMHO.

[Euler]

Looks like interest rates will remain lower for longer.

[Iron]

Possibly.

I think the Bank of England face a tricky dilemma.

Raising interest rates may tackle general inflation if it means cheaper imports.

But it would inflate the interest people pay on their mortgages, and make it harder for businesses to get loans.

And if enough people can't afford their mortgage repayments due to raised interest rates, and the banks can't sell people's homes for anything like the amount outstanding, it could create another banking crisis.

On balance, though, I'd agree with you. The Monetary Policy Committee haven't raised interest rates for some time, despite above-target inflation, so I doubt that will change suddenly.

Jeff

Looks like interest rates will remain lower for longer.

[Iron]

It seems George Osbourne is still in favour of low interest rates: http://www.telegraph.co.uk/finance/econ ... rates.html

Jeff

[Iron]

Mervyn King has now all but confirmed that's the case:

http://www.bbc.co.uk/news/business-12282405

Jeff

Looks like interest rates will remain lower for longer.

[Euler]

Soro's view on things, though I often feel he may say things that suit.

http://www.bbc.co.uk/news/business-12291527

[Iron]

Despite the politicians' show of confidence about their spending cut policies, I think deep down they know that we're in uncharted waters.

I've yet to hear a politician give a straight answer to the question 'How do you know what the optimum level of cuts is?'. IMHO, the reason is that they don't - there are too many unknowns.

But people dislike uncertainty, and it's bad for economic confidence (and it's not really a vote winner, either). So like snake oil salesmen, the politicians give the people the reassurance they seek...

Jeff

Soro's view on things, though I often feel he may say things that suit.

http://www.bbc.co.uk/news/business-12291527

[mister man]

ithink what people are forgetting is that we are all in this together..
yes the cuts in services and benefits hurt.
council services many poor people rely on, yes.
benefit payments many unfortunate people undergoing hard times and needing the safety net they provide do rely on them, yes.
the health service re-organistaion yes it could save us all a lot of money, and yes we really should have put it in our manifesto.
but we are all in this together. have no faer of that.
now must dash ive got an appointment with my private consultant about these damned brittle finger nails, how am i to survive with such an affliction.
and antonia is so impatient for me to get home to talk to the gardener about the readiness of the croquet lawn for this weekends rotary club do, and dont get me started on the builders not turning up for two days to complete the bridge over the lake to the outside bar and bbq.

yes i do live in the affluent south and yes the cuts are mainly hitting the north and the umemployed, and deprived.
now cut along dear chap, heres £5 to compensate you for the 10% cut to your housing benefit, yes yes I know youve got damp on the walls, and are scared to go out at night because of the localyouths and the poor policing, but think £2 you can get a nice few pints of that beer stuff and a some fish and chips and have change left over for the bus fare to the job centre tomorrow. what youd need £10 for that ?? now now old boy we are not that out of touch really im shocked at you trying to con me like that, you know,you can rely on us because we are all in this together. !!!!!

[Iron]

Why George Soros is talking nonsense:

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

Jeff

Soro's view on things, though I often feel he may say things that suit.

http://www.bbc.co.uk/news/business-12291527

[Iron]

The housing benefit situation is concerning IMHO.

Partly, because it will mean some people end up homeless. And also because, if people can't pay their mortgages and banks can't get back anywhere near the amount owed by selling the house, it could trigger another banking crisis.

Jeff

heres £5 to compensate you for the 10% cut to your housing benefit

[Euler]

Not many people predicted this: -

http://www.reuters.com/article/2011/01/ ... st=Twitter