Comments on: UK heading for second downturn? http://blogs.reuters.com/macroscope/2009/07/17/guest-blogger-julian-chillingworth-uk-heading-for-second-downturn/ Shining a light on the dismal science Wed, 22 May 2013 07:02:55 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: steph http://blogs.reuters.com/macroscope/2009/07/17/guest-blogger-julian-chillingworth-uk-heading-for-second-downturn/comment-page-1/#comment-785 steph Mon, 03 Aug 2009 12:42:26 +0000 http://blogs.reuters.com/macroscope/?p=1694#comment-785 People should only buy what they can afford, and not borrow to live on. I think there will be more people renovating and diying in there own house rather than move or employ builders or tradesman to save costs People should only buy what they can afford, and not borrow to live on.

I think there will be more people renovating and diying in there own house rather than move or employ builders or tradesman to save costs

]]> By: rocky http://blogs.reuters.com/macroscope/2009/07/17/guest-blogger-julian-chillingworth-uk-heading-for-second-downturn/comment-page-1/#comment-764 rocky Mon, 20 Jul 2009 17:28:54 +0000 http://blogs.reuters.com/macroscope/?p=1694#comment-764 Who indeed would want to be George Osborne, putting this ineffictive "Regency "fop" in charge of of Britains purse strings! it needs someone with charisma and knowledge,and Dave Davies would be my choice Who indeed would want to be George Osborne, putting this ineffictive “Regency “fop” in charge of of Britains purse strings! it needs someone with charisma and knowledge,and Dave Davies would be my choice

]]> By: mark http://blogs.reuters.com/macroscope/2009/07/17/guest-blogger-julian-chillingworth-uk-heading-for-second-downturn/comment-page-1/#comment-763 mark Mon, 20 Jul 2009 10:16:22 +0000 http://blogs.reuters.com/macroscope/?p=1694#comment-763 a very succint and intelligent summary, farnaby - let's stop trying to figure out ways to get back to a situation where greedy idiots strive to buy ever more rubbish they don't need with money they don't have... a more sensible approach is to try to figure out a way that lets people produce and consume in a balanced way with due awareness of the impact of our actions (economically, environmentally, culturally etc). remember, happiness is more than just a bigger TV... a very succint and intelligent summary, farnaby – let’s stop trying to figure out ways to get back to a situation where greedy idiots strive to buy ever more rubbish they don’t need with money they don’t have… a more sensible approach is to try to figure out a way that lets people produce and consume in a balanced way with due awareness of the impact of our actions (economically, environmentally, culturally etc). remember, happiness is more than just a bigger TV…

]]> By: farnaby http://blogs.reuters.com/macroscope/2009/07/17/guest-blogger-julian-chillingworth-uk-heading-for-second-downturn/comment-page-1/#comment-759 farnaby Sat, 18 Jul 2009 07:37:32 +0000 http://blogs.reuters.com/macroscope/?p=1694#comment-759 Unless people wake up to the true nature of the thing, it may be not only a "double downturn" but a multiple downturn ending in permanent recession. The recession was caused by the credit bubble but that was only a symptom, not an underlying cause. The underlying cause was the 'economic growth' fetish. The credit bubble was driven by the greed of financial institutions. It was also intended to promote consumerism of unneccessary or overpriced goods and services. The system is being brought down by its inherent contradictions. It is coming up against the constraints of finite resources and a fragile ecosystem. We need a more sustainable economic system, not based on so-called 'economic growth' to get us out of the mess that has been created. If we always try to cure recessions by restoring the staus quo ante, with perhaps, a little bit of ineffectual 'regulation' on the side, the same things will happen again and again. Unless people wake up to the true nature of the thing, it may be not only a “double downturn” but a multiple downturn ending in permanent recession. The recession was caused by the credit bubble but that was only a symptom, not an underlying cause. The underlying cause was the ‘economic growth’ fetish. The credit bubble was driven by the greed of financial institutions. It was also intended to promote consumerism of unneccessary or overpriced goods and services. The system is being brought down by its inherent contradictions. It is coming up against the constraints of finite resources and a fragile ecosystem. We need a more sustainable economic system, not based on so-called ‘economic growth’ to get us out of the mess that has been created. If we always try to cure recessions by restoring the staus quo ante, with perhaps, a little bit of ineffectual ‘regulation’ on the side, the same things will happen again and again.

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