Triple-dip recession

Those political and financial people are saying "Things are worse than we thought" (again) and the UK is going into triple-dip recession.

Demand from the EU is reduced, very little market there, even industry in Germany is slowing down. The economic outlook for UK and Europe looks like a slide into debt at best and poverty at worst. The scale of financial collapse is described as 'similar to the effect of a world war'.

So, what will the new year bring ? Any predictions for the future?

None other than those made previously in other posts. It was blindingly apparent back in 2008 when the vastness of the 'stupidity and reckless endangerment' became known and the extent to which would be required to put everything back onto an even keel that 5 years would be the minimum and 10 the most likely.

You don't spend ten years throwing money around like it was going out of fashion and then expect everything to fall back into place that easily. Anyone born in the middle of the last century and who have gone through boom and bust time and time again KNEW something was wrong with what was happening prior to 2008 - the world hadn't suddenly found a panacea for borrow what you want without impunity - it was the finances of the mad-house. And we soon found out who was in charge - the con-men and the lunatics - otherwise known as modern day bankers (nearly got that right).

And you don't save jobs and come out of a recession by NOT SPENDING - the 1930s taught everyone that.

What happens now? Nothing startling. The government will HAVE to start speculating (and I use the word advisedly) on major JUMP-START schemes and ensure that the money in circulation goes towards business and commerce. As will also the rest of Europe and other trading blocs. Only then will things start to swing back towards a more healthy society for the UK. That will take another five-six years at least. 2020 might be a good aiming point. Meanwhile there will be cuts galore and less for everyone - even the rich will not escape this one this time around (although they won't feel it like you will).

Jump-starting businesses probably will be on the government agenda. The failure of the banks to lend for that may be because they don't have confidence in the idea. The UK government is muttering about the idea of investing in what they call 'the north', an unknown country outside London. If investment does come north, what sort of enterprises might be successful?

Consultancy firms set up by former senior council officers who charge thousands of pounds per day to tell their successors how to make the same mistakes they used to make!

Indeed. Still far too much money being wasted through talking-shops, civil service apathy and crass-idea-workshops. Any self-respecting government would look far more towards the private sector for advice instead of trying to ingratiate itself with governmental think-tank ideas which are usually far wide of the mark and costly. Three sectors require immediate and sustainable funding - housing, infrastructure - R&D - which should be in addition to that already in place. Will it happen - not with this bunch of fairies at the helm I fear.