UK recession worse than Alistair Darling predicted (14May09)

Failed banker and New Labour lackey, the governor of the Bank of England predicts the UK's GDP will be lower in 2009 than what the failed New Labour chancellor Alistair Darling predicted.

The idiotic news item suggests that lower interest rates, Quantitative easing, and a weaker UK Pound are great for the UK economy, but they are not.

Low interest rates penalises the savers while rewarding the feckless that created the recession, also international investors run away to countries that give decent interes rates return for their investments.

Quantitative easing is another method to smash savers money, getting less spending power for their savings. It creates inflation, which is being hidden by New Labour with the fiddled statistics by the ONS. It helps the government pretend they owe less money after it's record breaking £2.5 Trillion credit binge, but international investors can see right through that scam.

And finally, they claim a weaker pound benefits exporters. But what does the UK export? New Labour smashed the UK's manufacturing base with their punitive taxes making firms run away abroad (firms like Dyson and Hornby). Add to that, a weak pound means imports are expensive, so the price of the fuel and food the UK needs goes up.

Category:

News & Politics

Tags:

• uk
• recession
• worse
• than
• predicted
• prediction
• gdp
• inflation
• governor
• bank
• of
• england
• mervyn
• king
• chancellor
• alistair
• darling

[31mus]

i wish the richest country will be the a poorer

[sgwarrenb]

theres no recovery in uk...

[hopeandjoywithlove]

Hyper Inflation on its way !