Recession? Its All Over.

[wotsnext]

Recession in Britain 'at an end'


http://newsimg.bbc.co.uk/media/images/46254000/jpg/_46254940_006353302-1.jpg The banking sector saw a big rise in confidence

Confidence among business professionals has surged, suggesting the recession is at an end, a survey has said. The Institute of Chartered Accountants' index of business confidence rose to 4.8 at the end of June, from -28.2 in March, the biggest rise for two years.
However, chief executive Michael Izza warned against "underestimating" the challenges ahead for businesses.
The institute predicts the UK economy will grow by 0.5% in the third quarter.
Its forecast comes after the economy shrank by 0.8% in the second quarter of the year.
More than 1,000 chartered accountants were surveyed across England, Wales and Scotland.
"This quarter's Business Confidence Monitor suggests that the UK recession is at an end," said Mr Izza.
"While there is no doubt that the UK economy is on its way to recovery, we shouldn't underestimate the challenges ahead for businesses."
About 41% of senior professionals were more confident about their business prospects in the next year, but only 6% were much more confident, indicating that some caution remains.
IT was the most optimistic sector, followed by banking, finance and insurance. The institute said the banking sector in particular had shown "a remarkable upturn given the turmoil of the last two years".
The least confident professions were health and education, as fears of cuts in the public sector grow.

Great news we can all start spending again...p-)

[commanding]

yeah right. ever tried to start an old mower engine that has been sitting for 6 months...sputter and cough. unemployment in California is over 10% according 2 what I read yesterday. Way over 10% in Michigan, etc. It ain't over til the fat lady sings.p-)

[wotsnext]

As my old grandad used to say....."Words are cheap"

[The Dane]

Same thing in Denmark.. nice :)

[Mr Gently Benevolent]

Orders and interest picking up in my game mostly France, Belgium and Germany though Spain is down and out at the moment though they will probably come back late November. Looks like I will be able to go full time again rather than fart about day / swing trading and blathering on here.

[commanding]

Orders and interest picking up in my game mostly France, Belgium and Germany though Spain is down and out at ther moment though they will probably come back late November. Looks like I will be able to go full time again rather fart about day / swing trading and blathering on here.

well good that shows some consumer confidence...but I like to look at the big picture, unemployment, stock markets, gold & silver, domestic spending, etc.
any good sign is good, but some can be misleading, especially the market.

[Mr.K]

It's amazing how the general public can be manupulated.

[ZeroZen]

i don't feel it. Am I suppose to feel it?

[Russianlynxy]

Our stockmarket is experiencing good growth again. Is this a good thing?

Personally I think the "crisis" should be over by the end of this year.

[Albatross]

Q3 we should start to see a bit of growth. The reason that Michigan unemployment is so high is in direct relation to the car industry, which is in direct relation to the unions. They made their own bed up there. Cali has high unemployment because there is to much government intervention and taxation.

[deagle]

its not over until the fat lady gets foreclosed !

[Umbro2914]

I believe this guy a bit more..

http://www.youtube.com/watch/v/94lW6Y4tBXs

[BigDukaroo]

As much as I hate the recession, the longer it lasts the better. People are stupid. If the global economy were to begin booming in the next quarter then the same thing that got us into this mess will happen yet again in the coming years.

[Albatross]

As much as I hate the recession, the longer it lasts the better. People are stupid. If the global economy were to begin booming in the next quarter then the same thing that got us into this mess will happen yet again in the coming years.


So you think the downward spiral is a good thing? Property values have already reset. What is the point of a further decline? To teach us a lesson?

:roll:

[oakleaf]

end of crisis ??? yeah right :):):)

here in Belgium we are waiting for the final closure of the "OPEL-general motors" factory in Antwerp... a few thousand people will lose their job...

and the banknurds say it's all over... I think that crisis hasn't really started yet here in Europe...

[Soldat_Américain]

Until California gets things fixed in Sacramento I see us being in for hard times ahead. When it does get fixed we'll be back to prosperity...but by then I won't be able to afford a house when I decide to settle down. The US will feel it a lot more than other parts of the world...we're nowhere near out of **** now but I think by the fall we should be leveling off.

[tea drinker]

As much as I hate the recession, the longer it lasts the better. People are stupid. If the global economy were to begin booming in the next quarter then the same thing that got us into this mess will happen yet again in the coming years.
And their government is inept and corrupt. It removed depression era safeguards. The media and news told blatant lies and saddled people with worthless mortgages. Central banks failed their duties, analysts failed.

Until we accept that our votes are a sham, we haven't got the message.

The system failed. Actually, the system failed most people would be more accurate. Some people did very well. They haven't gone away, and they want another go at the snakes and ladders.

[notherhen40]

So you think the downward spiral is a good thing? Property values have already reset. What is the point of a further decline? To teach us a lesson?

:roll:

yes, if in fact it does teach people a lesson that legal scams that are concoted to make fat people fatter and rich people richer does not mean a thing unless it has something else to fall on.

The recession is over? If you believe that load of crap, then you are as stupid as the people who got us in this mess to begin with.

Record number of banks were taken over by the FDIC this year, employer lay offs are at an all time high and climbing higher, people are spending less because they cannot, and rising health care costs are the big culprit, deflation seems to be looming on the horizon because things will not pick up any time soon, but fall alot further than they already have because of lack of spending by consumers, in which this wonderful economy is based on....buy, buy, sell, sell....:slap:

[Siddar]

Its very easy to mistake the start of a major burst in inflation as economic growth.

The recesion is simply changing from being deflationary to being inflationary the correct term is stagflation.

Gas prices are staying high food prices are surging once housing and auto prices stablize you will see inflation really start to kick in.

[BigDukaroo]

So you think the downward spiral is a good thing? Property values have already reset. What is the point of a further decline? To teach us a lesson?

:roll:

If it makes more people realise that you can't work as a "custodial engineer" at Mcdonalds and own a quarter of a million dollar home then yes. Mate, consumer irresponsibility greatly contributed to this mess, which most people like to look past. If nothing is done or if a "lesson" isn't learned then a tanking economy will be just another holiday. And what property values are you talking about? Great Britain? I was referring to the world as a whole, not just the UK.


And their government is inept and corrupt. It removed depression era safeguards. The media and news told blatant lies and saddled people with worthless mortgages. Central banks failed their duties, analysts failed.

Until we accept that our votes are a sham, we haven't got the message.

The system failed. Actually, the system failed most people would be more accurate. Some people did very well. They haven't gone away, and they want another go at the snakes and ladders.

Are you taking the piss? If not, I do agree, to an extent. Government stupidity and corporate selfishness and idiocy did contribute to whatever you want to call what is happening now, but please don't look past average joe jackass and his inbred wife.

[tea drinker]

Are you taking the piss? If not, I do agree, to an extent. Government stupidity and corporate selfishness and idiocy did contribute to whatever you want to call what is happening now, but please don't look past average joe jackass and his inbred wife.
Not taking the piss at all, it took a lot of effort and money to GET the money to these people, so they could be fooled into paying HUUUUUUGE mortgages for crap houses. And it was done with gov and media support, in fact their support was crucial, expecially in Ireland, where the Gov failed utterly to control land prices, presenting us probably the biggest mess since the foundation of the state. Now they expect the taxpayers to pay for Fundmanagers losses, corporate loss, bank loss, none of which is anything to do with a lot of us, it is theft on a massive scale.
(or wealth transfer, whatever you like)

[BlackFlag]

Here in Michigan, it's still pretty brutal.

That's all right though, we're Motor City Strong!!!11!

Seriously though guys, send us some jobs or pretty soon we're going to resort to roving bands of post-apocalyptic cannibals.

[Lusitania]

This recession is not over, I don't even believe home prices have reached their true systemic value yet, which means I believe they will continue to go down. Of course, government manipulation and their continued efforts to prop up this artificial market may make true correction impossible, and thus we could be simply pushing back correction for an even worse recession (God forbid I say the d word). Last quarter results in Germany, France, Japan and even here in the US got everyone excited, but you'll have to excuse me if I am not impressed.

[Nano]

I'm expecting apocalyptic levels of economic pain and suffering, while of course the skewed government numbers indicate that all is fine and well on course to an economic boom. The accounting and economics don't agree one way or another with each other and it will make things all the more painful for the ignorant and gullible. The stock market is in a bear market rally and will be for sometime given the source of the funding is made up of new cash.

Things have not even come down to reasonable levels if one simply takes into account job losses versus costs of homes. Housing costs is still the largest percentage of usable income. I know banks are buying back homes at foreclosure auctions at artificially high prices and holding off on inventory. The fact is foreclosure rates have stagnated in some places because they are artificially stagnated. People are defaulting on their mortgage payments in slightly less rates, but still high rates. If the finance bubble that just popped was inflated with a small helium canister this bubble is being filled from a super tanker.

[Audio]

and the banknurds say it's all over... I think that crisis hasn't really started yet here in Europe...


ofc its over for them...they got their governments to cover them :)

that is imo one of the most perverse things about this "recession"*.
While i do realise that things would get worse if the banks were left to die its hypocrisy at its highest.
Like a casino where you cant loose.

Normal people have to pay for their greedy miscalculations, while they continue warming their chairs and preparing for another round.



* i have been fortunate enough to not feel it thats why i put the ""

[RxOnco]

http://www.bloomberg.com/apps/news?pid=20601087&sid=aNaqecavD9ek



Aug. 25 (Bloomberg) -- U.S. unemployment (http://www.bloomberg.com/apps/quote?ticker=USURTOT%3AIND) will surge to 10 percent this year and the budget deficit (http://www.bloomberg.com/apps/quote?ticker=FDEBTY%3AIND) will be $1.5 trillion next year, both higher than previous Obama administration forecasts because of a recession that was deeper and longer than expected, White House budget chief Peter Orszag (http://search.bloomberg.com/search?q=Peter+Orszag&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1) said.
The Office of Management and Budget forecasts that the U.S. economy will shrink 2.8 percent this year, worse than the 1.2 percent contraction the OMB projected in May. For next year, the budget office said the gross domestic product will grow 2.0 percent, less than the 3.2 percent expected in May. By 2011, the economy would be well on its way to recovery, growing at a 3.8 percent annual rate, according to the administration’s mid-year economic review, released this morning.
“While the danger of the economy immediately falling into a deep recession has receded, the American economy is still in the midst of a serious economic downturn,” the budget office’s report said. “The long-term deficit outlook remains daunting.”
Separately, the nonpartisan Congressional Budget Office (http://www.cbo.gov/) today predicted that the jobless rate would average 10.2 percent next year, gloomier than the White House projection, and forecast the deficit for this year at $1.6 trillion, slightly worse than the White House estimate.

Wasn't it a few weeks ago when we saw the "administration" saying that the recession was over?

[Lazy Lob]

Orders and interest picking up in my game mostly France, Belgium and Germany though Spain is down and out at the moment though they will probably come back late November. Looks like I will be able to go full time again rather than fart about day / swing trading and blathering on here.

Spain won't be back in the game any time soon. That country is in a real mess. It needs a major salary reduction across the board of at least 30%. The main power house of their economy was the building sector, that is shot to pieces with over 50% of those companies about to show their hand. They are bust big time. The rest are teetering.

The banks have been doing some creative accounting and a lot of them are walking dead. Keep an eye on the Santander. Unemployment will very likely go up to 30% in the not too distant future and the rest of the eurozone will have to bail them out.

All in all a shyte storm on exlax.

Bacillus what is it you export?

[wotsnext]

^^^Scottish Salmond....no pun intended p-)

[Mr Gently Benevolent]

Spain won't be back in the game any time soon. That country is in a real mess. It needs a major salary reduction across the board of at least 30%. The main power house of their economy was the building sector, that is shot to pieces with over 50% of those companies about to show their hand. They are bust big time. The rest are teetering.

The banks have been doing some creative accounting and a lot of them are walking dead. Keep an eye on the Santander. Unemployment will very likely go up to 30% in the not too distant future and the rest of the eurozone will have to bail them out.

All in all a shyte storm on exlax.

Bacillus what is it you export?Mostly shellfish but I can turn my hand to wild game if need be usually on commission. I did pull back from moving into a small unit this year because of the current climate which I regret a little as its not as bad as I thought it would be. Working at home as a middle man does have its advantages the disadvantages are I have put on nearly 2 f*ckin stone since Christmas sitting on my arse in front of a couple screens. :)

[Lazy Lob]

Mostly shellfish but I can turn my hand to wild game if need be usually on commission. I did pull back from moving into a small unit this year because of the current climate which I regret a little as its not as bad as I thought it would be. Working at home as a middle man does have its advantages the disadvantages are I have put on nearly 2 f*ckin stone since Christmas sitting on my arse in front of a couple screens. :)

The Spanish do love their seafood but I recon you won't see those clients in a while. Working from home can be a nightmare.