Re: No More Arguments: Austerity is Working! : Wed Dec 18, 2013 5:00 pm  

What's that? I thought I could hear the faint tapping of a keyboard as someone was frantically searching Wikipedia.

Oh no, my mistake. Ajw has disappeared again.

Re: No More Arguments: Austerity is Working! : Wed Dec 18, 2013 5:18 pm  

Mintball wrote: So, after the 2008 crash, the UK economy returned to growth in the third quarter of 2009 and continued in growth until the fourth quarter of 2010, when it dipped to -0.5. Of the following six quarters, only two showed growth and were not successive. Ergo: "The economy was in growth in 2010. The policies of the incoming government put paid to that and sent the country back into recession." The economicshelp.org graph you've displayed is a little out of date/incorrect. Here's the latest one. Plus, here's a link to the ONS. If you scroll down to Table 2a to 2e, they show historical revisions of GDP data since 1998. http://www.ons.gov.uk/ons/dcp171778_314093.pdf

Mintball wrote: So, after the 2008 crash, the UK economy returned to growth in the third quarter of 2009 and continued in growth until the fourth quarter of 2010, when it dipped to -0.5. Of the following six quarters, only two showed growth and were not successive. Ergo: "The economy was in growth in 2010. The policies of the incoming government put paid to that and sent the country back into recession." The economicshelp.org graph you've displayed is a little out of date/incorrect. Here's the latest one. Plus, here's a link to the ONS. If you scroll down to Table 2a to 2e, they show historical revisions of GDP data since 1998. http://www.ons.gov.uk/ons/dcp171778_314093.pdf

Re: No More Arguments: Austerity is Working! : Wed Dec 18, 2013 5:33 pm  

Re: No More Arguments: Austerity is Working! : Wed Dec 18, 2013 5:47 pm  

Then there's the GDP of the Euro area, our largest trading partner. From http://www.tradingeconomics.com/euro-area/indicators It's almost like our economy started to slow down again when the economy of the area we do the most trade with slowed down.

Then there's the GDP of the Euro area, our largest trading partner. From http://www.tradingeconomics.com/euro-area/indicators It's almost like our economy started to slow down again when the economy of the area we do the most trade with slowed down.

Re: No More Arguments: Austerity is Working! : Wed Dec 18, 2013 6:02 pm  

Mintball wrote:

2011 Q4 to 2012 Q2 – -0.3, -0.2, -0.4. That's three in succession.

If you cannot look at those two graphs and see that for yourself, I suggest you nip along to Specsavers.

As BobbyD has alluded to your statistics are incorrect.

The actual GDP figures for those quarters are as follows:

2011 Q4 -0.1%
2012 Q1 0%
2012 Q2 -0.5%

So there hasn't been 2 consecutive quarters of negative growth. Therefore no recession.

Re: No More Arguments: Austerity is Working! : Wed Dec 18, 2013 6:15 pm  

BobbyD wrote: The economicshelp.org graph you've displayed is a little out of date/incorrect. Here's the latest one. Plus, here's a link to the ONS. If you scroll down to Table 2a to 2e, they show historical revisions of GDP data since 1998. http://www.ons.gov.uk/ons/dcp171778_314093.pdf These will be those 'adjusted' figures, will they? And Ajw71 jumping up and down getting excited about a revised figure of 0% non-growth is desperation – and does not change his inability to read the charts I initially posted. Incidentally, austerity is popular in countries other than the UK, albeit not always to the same degree.

BobbyD wrote: The economicshelp.org graph you've displayed is a little out of date/incorrect. Here's the latest one. Plus, here's a link to the ONS. If you scroll down to Table 2a to 2e, they show historical revisions of GDP data since 1998. http://www.ons.gov.uk/ons/dcp171778_314093.pdf These will be those 'adjusted' figures, will they? And Ajw71 jumping up and down getting excited about a revised figure of 0% non-growth is desperation – and does not change his inability to read the charts I initially posted. Incidentally, austerity is popular in countries other than the UK, albeit not always to the same degree.

Re: No More Arguments: Austerity is Working! : Wed Dec 18, 2013 6:17 pm  

BobbyD wrote: Then there's the GDP of the Euro area, our largest trading partner. From http://www.tradingeconomics.com/euro-area/indicators It's almost like our economy started to slow down again when the economy of the area we do the most trade with slowed down. When lefties speak about the recession in 2008 under Labour they are quick to trot out 'oh it was a global crisis' and 'it was nothing to do with labour policies'. In other words they cite external factors. When lefties speak about growth from 2010 onwards they are quick to trot out 'it was all to do with the nasty government policies' and completely ignore the fact that there was and still is a 'Eurozone crisis' In other words they completely ignore external factors. It's totally see through. Thankfully most people realise this.

BobbyD wrote: Then there's the GDP of the Euro area, our largest trading partner. From http://www.tradingeconomics.com/euro-area/indicators It's almost like our economy started to slow down again when the economy of the area we do the most trade with slowed down. When lefties speak about the recession in 2008 under Labour they are quick to trot out 'oh it was a global crisis' and 'it was nothing to do with labour policies'. In other words they cite external factors. When lefties speak about growth from 2010 onwards they are quick to trot out 'it was all to do with the nasty government policies' and completely ignore the fact that there was and still is a 'Eurozone crisis' In other words they completely ignore external factors. It's totally see through. Thankfully most people realise this.

Re: No More Arguments: Austerity is Working! : Wed Dec 18, 2013 6:19 pm  

Mintball wrote:

These will be those 'adjusted' figures, will they?

And Ajw71 jumping up and down getting excited about a revised figure of 0% non-growth is desperation – and does not change his inability to read the charts I initially posted.

Incidentally, austerity is popular in countries other than the UK, albeit not always to the same degree.

So you are finally admitting the fact that there has not been a recession since 2008/2009 then.....

Re: No More Arguments: Austerity is Working! : Wed Dec 18, 2013 6:21 pm  

Big Labour v Tory argument going on here, like most thing I suspect the truth lies beneath the 2.

Re: No More Arguments: Austerity is Working! : Wed Dec 18, 2013 6:21 pm  

Mintball wrote:

These will be those 'adjusted' figures, will they?

And Ajw71 jumping up and down getting excited about a revised figure of 0% non-growth is desperation – and does not change his inability to read the charts I initially posted.

Incidentally, austerity is popular in countries other than the UK, albeit not always to the same degree.

0% growth is not desperation it is a fact - just admit you were wrong, I will not hold my breath.