What's preventing the UK plunging into a recession?

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I know nowt about economics, but it seems to me that this country has little or no manufacturing backbone. It's so far avoided going the same way as the States and Germany, so what is keeping the UK afloat? What am I missing? Ship building, coal, steel, automobile - all gone for a burton.. So what else? I.T. isn't as strong as it once was, is it? I live in Surrey and know several people who say that they feel insecure in their computer jobs, and at least two who have already been made redundant. Many of my friends, most educated to a high level, are in service sector jobs that allow them merely to get by day to day, but not save or plan for the future. The growing anxiety about pensions, the poverty gap widening and possible housing market crash.. What is stopping a recession?

― Dean Eckington, Tuesday, 24 May 2005 10:00 (twenty-one years ago)

if we stop buying stuff, the terrorists win.

― g-kit (g-kit), Tuesday, 24 May 2005 10:03 (twenty-one years ago)

Same way as the States and Germany? What way is that?

― Dadaismus (Dada), Tuesday, 24 May 2005 10:03 (twenty-one years ago)

germany has like a kajillion unemployed.

― N_RQ, Tuesday, 24 May 2005 10:09 (twenty-one years ago)

that's because they are employing all our car manufacturing staff

― ken c (ken c), Tuesday, 24 May 2005 10:11 (twenty-one years ago)

xxpost
I thought the States' economy was struggling, but I might have got it wrong. Germany is having a real hard time, for sure.

― Dean Eckington, Tuesday, 24 May 2005 10:11 (twenty-one years ago)

low interest rates and low inflation are holding back the recession, but one will come nonetheless.

― Dr.C, Tuesday, 24 May 2005 10:11 (twenty-one years ago)

I think it was the idea of lumping Germany and the US together that I baulked at

― Dadaismus (Dada), Tuesday, 24 May 2005 10:12 (twenty-one years ago)

A recession is when your neighbor loses his job. America.

A depression is when you lose your job. Germany.

― Stalwart, Tuesday, 24 May 2005 10:19 (twenty-one years ago)

Ship building, coal, steel, automobile - all of which are to be found in recession and depression hit Germany and the US

― Dadaismus (Dada), Tuesday, 24 May 2005 10:21 (twenty-one years ago)

Matthew Parris made almost exactly the same point in a Times article a few months back. Anatole Kaletsky then explained (over a couple of columns) why Parris was wrong. I don't think Kaletsky was 100% convincing but he did broadly explain why Parris's "common sense" view (if we are not making anything and only providing services to one another we can't be creating any wealth) is far too limited. It might be worth trying to dig that stuff up if you are interested.

― frankiemachine, Tuesday, 24 May 2005 10:25 (twenty-one years ago)

Gordon Brown sits in the Treasury using the force, like Yoda in the Senate Chamber, to keep the economy going and beams his force magic to make people keep shopping.

― Dave B (daveb), Tuesday, 24 May 2005 10:26 (twenty-one years ago)

Matthew Parris wrong? Who'd have thought it?

― Dadaismus (Dada), Tuesday, 24 May 2005 10:26 (twenty-one years ago)

Parris's "common sense" view (if we are not making anything and only providing services to one another we can't be creating any wealth) is far too limited.

hmm. if only parris had thought about the possible consequences of abandoning all productive industries to the wolves while he was in politics...

― N_RQ, Tuesday, 24 May 2005 10:30 (twenty-one years ago)

I misread this as 'Wives preventing the UK plunging into a recession?'.

Hmm.

― emil.y (emil.y), Tuesday, 24 May 2005 10:54 (twenty-one years ago)

lots of ppl with huge amounts of personal debt ?

― Snowy Mann (rdmanston), Tuesday, 24 May 2005 11:29 (twenty-one years ago)

... it's the British way

― Dadaismus (Dada), Tuesday, 24 May 2005 11:32 (twenty-one years ago)

Last month, UK credit card debt dropped for the first time since the 1980s.

― caitlin (caitlin), Tuesday, 24 May 2005 11:41 (twenty-one years ago)

WE'RE DOOMED

― Snowy Mann (rdmanston), Tuesday, 24 May 2005 11:43 (twenty-one years ago)

one month passes...

http://newsbox.msn.co.uk/article.aspx?as=adimarticle&f=uk_-_olgbtopnews&t=4023&id=994257&d=20050629&do=http://newsbox.msn.co.uk&i=http://newsbox.msn.co.uk/mediaexportlive&ks=0&mc=5&ml=ma&lc=en&ae=windows-1252

― Sandy Hog, Wednesday, 29 June 2005 17:07 (twenty years ago)

xpost: oh it's the same story as above, except from the BBC.

Take advantage of the slump! Lots of lovely sales on, and the loan companies are desperate for business too. I'm off shopping...

― stet (stet), Wednesday, 29 June 2005 17:39 (twenty years ago)

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