UK economy grinds to a virtual standstill

[Sweetpea]

The UK economy ground to a virtual halt in the past three months and now faces the prospect of higher interest rates, a leading economic think tank has warned.
Gross domestic product expanded 0.2pc in the three months to the end of May, according to the National Institute of Economic and Social Research (NIESR).
The body, which advises the Treasury and the Bank of England, added that 0.2pc pace was slower than the 0.4pc pace it believes the economy grew in the three months to April.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/11/bcnukeco111.xml

The reality of the situation is when inflation outstrips growth, you have a recession. People seem so terrified of this (rightly so mind you) that the media and politicians can't bring themselves to confront the ugly truth.

[Haqa]

Oh, well, at least we have our gold reserves to prop the economy up during this downturn, so we'll not plumet in free-fall into a 1920's style depression...

Oh... Didn't Gordo sell those off? oops!

H.

Originally Posted by Haqa

Oh, well, at least we have our gold reserves to prop the economy up during this downturn, so we'll not plumet in free-fall into a 1920's style depression...

Oh... Didn't Gordo sell those off? oops!

H.

Errr, yeah, errr, apparently, um, you don't need that gold stuff anymore, its just useless hunks of metal, errr what we need is jobs yeah?

[Haqa]

Originally Posted by churchill

Errr, yeah, errr, apparently, um, you don't need that gold stuff anymore, its just useless hunks of metal, errr what we need is jobs yeah?

Na... those are for them forrin folks...

H.