Skip to main content

The worsening state of the UK economy

So what is the current state of the UK economy? Well, the current economic statistics do not look promising:

At the same time, the so-called Global Alliance on the credit crunch that our Prime Minister has been advocating is slowly unravelling, as we saw from President Sarkozy's remarks yesterday.

Regardless of people's disdain for their actions, banks remain at the centre of any recovery plan for the UK economy.

With news that they have taken £185 billion of taxpayers money, it is time that they reciprocated by getting money to flow to the business community again.

At the very least, they should stop their practice, which is still prevalent across many sectors, of withdrawing loans and overdrafts without any rationale or warning, sending more viable companies, and tens of thousands of jobs, down the pan.

Comments

Anonymous said…
an absolute mess...the sooner we have a general election, the better
February 07, 2009 4:32 pm
Anonymous said…
The sooner we have an Assembly sort out too.
February 07, 2009 7:14 pm
JOLLY ROGER said…
HOW DO YOU DO... THE ECONOMY

Spending culture

The continuing game theory culture of prediction, of desire, will and wants are still shitdiculous. The common individual can live roughly a 30,000%* percent more sustainable lifestyle if he didn't drink so much sugar coated shit and instead got his food from the ground rather than the mish-mash-mush machine.

Fix stuff, open it up and poke, get a screwdriver and some chuddy and really fix that fucker. Buying summat because it's the slightly better one that you’ve already got, with a new light on it, n one of the buttons is over there is so earnest in conformity. But that wouldn't keep the cogs of industry going, noo that wouldn't make economies grow and grow exponentially till they need to invent consumers and economies and solar systems to keep its expanding waistline from an earth saturating numerical shower. You ever been impaled by a two?

* figure based on data published somewhere by someone about something

...more at lifestyleguides.blogspot.com
February 09, 2009 12:25 pm
Progressive Comment said…
Prof Jones-Evans, I agree with your calls in your post on getting credit flowing and stopping the withdrawal of loans and overdrafts without warning.

How do you think the banks could be made to carry out the steps you suggest? Would you support Government departments issuing orders to the banks? Is this possible?
February 09, 2009 10:49 pm
Post a Comment

Popular posts from this blog

THE CRACHACH

Unlike me, do you consider yourself part of 'the establishment' here in Wales?  As thousands gather for the Eisteddfod in Mold this morning, they will, according to some social commentators, not be participating in the greatest cultural festivals of Europe. Instead, they will merely be bit-part players in one of the annual gatherings of the great and good of Wales.  Unkindly, this set of the movers and shakers in Welsh society is known as 'the crachach' , and constitute a social class all of their own, dominating the educational, cultural and media sectors of Wales and allegedly looking down upon any outsider with new ideas, reinforcing mediocrity and failing to see beyond the limits of their own narrow experience.  They are said to live in a comfort zone that awaits the expected invitation to the next glass of chilled chardonnay and canapés, forgetting that due to their lack of leadership and drive, Wales remains firmly rooted to the bottom of the UK prosperity league ...
30 comments
Read more

THE FUTURE FOR SILICON VALLEY

During the last twenty years, there have been many academics, politicians and policymakers (including yours truly) who have looked over to the innovation developed in Silicon Valley, California and wondered if we could ever emulate that success here in Wales. Whilst the former First Minister Rhodri Morgan proposed only last week that South Wales could become the “UK’s answer to Silicon Valley”, he is not alone in the world with such a suggestion for his local area. With imitation often being the sincerest form of flattery, many others regions across the globe have tried to emulate the ‘secret sauce’ that has led to this small valley to the South East of San Francisco becoming the seedbed for world-leading companies such as Hewlett-Packard, Apple and Google. But after fifty years of success, can it maintain its position as the premier location for innovation in the World? This is a question that its own business community has recently been asking itself. This has culminated in a...
Read more

THE IMPORTANCE OF THE CREATIVE CLASSES

One of my favourite academic books of the last two decades must be the “Rise of the Creative Classes” by Professor Richard Florida.  This was one of the first detailed studies of the growing group of individuals who use their creativity and mental labour to earn a living and not only included those in arts and entertainment, but also people working in science and technology as well as knowledge-based professions such as healthcare, law, business, and finance.  Fast forward to 2022 and Professor Florida has written an updated report on the creative classes although he and his team now identify a different type of individual who is taking full advantage of the growth in digital platforms, social media, and online marketplaces.  Such ‘creators’ are defined as those who use digital technology to make and publish unique creative content, whether in the form of video, film, art, music, design, text, games, or any other media that audiences can access and respond to.  They ...
Read more