[anarchist]

US Economy is growing at 60 times that of the UK

http://news.bbc.co.uk/1/hi/business/8487611.stm

Just last week it was announced that the UK economy had increased in size by a pathetic 0.1%. In the same period the USA enjoyed 5.7% growth.

We went into the recession together. It seems that those leading the USA out of recession are doing a far better job than ours.

[Agent Orange]

Strange you should mention that, there was a report on the news last night stating that unemployment is rife over there at the moment and that Obama was passing a bill to try and kick start the US economy.

[wednesday1]

Originally Posted by anarchist

US Economy is growing at 60 times that of the UK

http://news.bbc.co.uk/1/hi/business/8487611.stm

Just last week it was announced that the UK economy had increased in size by a pathetic 0.1%. In the same period the USA enjoyed 5.7% growth.

We went into the recession together. It seems that those leading the USA out of recession are doing a far better job than ours.

The difference is that the US still has a strong manufacturing sector that enables them to export their way out of recession, the Tories closed ours down and the economy is now too heavily weighted towards the financial sector.
The US went into recession well before us any way and so they are further ahead in the economic cycle.

If you care so much about the British economy, 'anarchist' why did you move your manufacturing business abroad?

[Funky_Gibbon]

Originally Posted by Agent Orange

Strange you should mention that, there was a report on the news last night stating that unemployment is rife over there at the moment and that Obama was passing a bill to try and kick start the US economy.

You're not accusing Anarchist of being selective in the stories/stats they start thread about are you? I'm shocked, totally shocked......

[anarchist]

Originally Posted by Agent Orange

Strange you should mention that, there was a report on the news last night stating that unemployment is rife over there at the moment and that Obama was passing a bill to try and kick start the US economy.

I think if the truth be told about UK unemployment, and the number of people working short hours, part time or foced to become students is taken into acount we are in a far worse state than our massaged figures might suggest.

Also the USA emerged from recession 6 months ago and its' economy grew by 2.2% in the third quarter and 5.7% in the 4th. A total of 7.9% growth over 6 months.

Interestinly in the same 6 months our economy shrunk by 0.2%.

[auto98uk]

Originally Posted by anarchist

I think if the truth be told about UK unemployment, and the number of people working short hours, part time or foced to become students is taken into acount we are in a far worse state than our massaged figures might suggest.

Also the USA emerged from recession 6 months ago and its' economy grew by 2.2% in the third quarter and 5.7% in the 4th. A total of 7.9% growth over 6 months.

Interestinly in the same 6 months our economy shrunk by 0.2%.

Ah right - but the US unemployment stats are correct, are they?

[anarchist]

Originally Posted by auto98uk

Ah right - but the US unemployment stats are correct, are they?

You tell me, but you seem to be conceding that ours are manipulated. Anyhow the topic is about how our Government aren't managing our economy as well as the Yanks, not how our Government are better at falsifying unemployment figures.

[Agent Orange]

This is an interesting read:

http://www.guardian.co.uk/business/2...ession-us-jobs

Taken from the Guardian, early Jan.

[Tony]

Originally Posted by wednesday1

The difference is that the US still has a strong manufacturing sector that enables them to export their way out of recession, the Tories closed ours down and the economy is now too heavily weighted towards the financial sector.
The US went into recession well before us any way and so they are further ahead in the economic cycle.

If you care so much about the British economy, 'anarchist' why did you move your manufacturing business abroad?

The UK is the 6th largest manufacturing nation in the world. Hardly "closed down".

1. USA
2. China
3. Japan
4. Germany
5. Italy
6. United Kingdom
7. France
8. Brazil
9. Korea
10. Canada

We dropped from 5th after the '97 election. Those evil Tories eh?

[wednesday1]

Originally Posted by Tony

The UK is the 6th largest manufacturing nation in the world. Hardly "closed down".

1. USA
2. China
3. Japan
4. Germany
5. Italy
6. United Kingdom
7. France
8. Brazil
9. Korea
10. Canada

We dropped from 5th after the '97 election. Those evil Tories eh?

But we had a much bigger manufacturing base before 1979. It was between '79 and '90 when so much of the base was lost.
In Sheffield most of the big closures were between '79 and '85.

[Tony]

We were number 1 in 1879. What's your point?

I understand that Sheffield produces more tonnage of steel now than it ever has.

[wednesday1]

Originally Posted by Tony

We were number 1 in 1879. What's your point?

I understand that Sheffield produces more tonnage of steel now than it ever has.

That there is over reliance on the financial sector and that our manufacturing base has been allowed to shrink too much. Started deliberately by the Tories and I have to say, allowed to continue under New Labour.

[Tony]

But what's your point? You were wrong on manufacturing and I think you're wrong on Sheffield.

The world changes. The UK isn't doing too badly at all comparatively.

[HeadingNorth]

Originally Posted by wednesday1

But we had a much bigger manufacturing base before 1979.

Most of which was employing people to do no work, producing things that nobody wanted, haemorrhaging public money, and culminated in the country going bankrupt in 1976 and having to beg for cash from the IMF.

Thankfully, in 1979 we finally elected someone who had the guts to kill it off.

[Tony]

Exactly, we have modernised and it was long overdue. If we insist on the UK sticking to the 'old' industries and 'old' ways we must also insist on the working conditions and pay that we find where those 'old' industries have moved to.

Do we want Chinese or Indian wages and working conditions? Do we want to pay the prices that would be needed to sustain western conditions?

These tired old class warfare arguments have even been consigned to the dustbin of history by the Labour Party. Some of their supporters should get with it too.

[wednesday1]

Originally Posted by HeadingNorth

Most of which was employing people to do no work, producing things that nobody wanted, haemorrhaging public money, and culminated in the country going bankrupt in 1976 and having to beg for cash from the IMF.

Thankfully, in 1979 we finally elected someone who had the guts to kill it off.

It was only through sheer luck that Thatcher had North Sea Oil to prop up the country and finance the mass unemployment she created, that saved the country from going bust.

[Tony]

Luck or taking advantage of prevailing conditions? You seem to think that things happen by chance. The time was right. In fact it was 20 years overdue.

Anyway, are you happy now that the UK isn't quite the total basket case you thought in spite of New Labour's best efforts? Have a pint on me

[anarchist]

Originally Posted by wednesday1

It was only through sheer luck that Thatcher had North Sea Oil to prop up the country and finance the mass unemployment she created, that saved the country from going bust.

And despite having North Sea Oil and gas Gordon Brown managed it.

[HeadingNorth]

Originally Posted by anarchist

Also the USA emerged from recession 6 months ago and its' economy grew by 2.2% in the third quarter and 5.7% in the 4th. A total of 7.9% growth over 6 months.

I suspect that most people reading the story would come to that conclusion, but it's completely wrong.

The US economy in the third quarter of 2009 was 2.2% bigger than it had been in the third quarter of '08; in the fourth quarter of '09, it was 5.7% bigger than it had been in the fourth quarter of '08. At no stage did it actually grow by a whole 5.7% in three months. Newspapers often do a woefully bad job of reporting these sort of "annual change" figures.

[Magilla]

Originally Posted by HeadingNorth

Thankfully, in 1979 we finally elected someone who had the guts to kill it off.

You beat me to it.