to not hail the Coalition as the saviours of our economy

[Glitterknickaz]

as it looks like they have the potential to royally fuck it up ?

I think probably we should wait and see what happens to the economy.

This is not the fault of the coalition though.It was always inevitable as the last recession and housing crash were artificially halted with silly interest rates abd quantative easing just in time for the election.The real s**t had to hit the fan eventually it was only a matter of time

IM (un-professional) O I think a double dip is a going to happen without a doubt.

I'm assuming thing won't even start to improve for a couple of years.

I'm happy to nail my colours to the mast to say that I'm not surprised that UK may still be in trouble, as it is clear that we are only now discovering the depth if the poo the previous administration has left.

I think also that cuts are necessary, and accept that these may hurt. I was quite intrigued and actually optimistic about how the Coalition would tackle it.

I no longer, however, have the slightest faith that the Coalition will act fairly in any sense of the word "fair" that I recognise as ordinary usage.

inflation is going up

at this rate, they will write off quite a bit of debt by sitting on their big fat arses (watching the value of the debt depreciate before their eyes) then no doubt claim they are the saviours of us all

Not necessarily.
I think I'm of the view that whilst cuts are necessary the DEEP cuts to tackle the defecit should really have been tackled when we were approaching a period of growth, not just as we were recovering from recession.

I also feel that with a double dip more will be out of work, more will suffer from the benefits restructures and HB reductions etc and therefore less spending, the economy could potentially helter skelter downwards.

A double dip recession is far from inevitable and most growth forecasts predict that with the coalitions reductions in public spending then growth may be sluggish but it will still happen.

If we did not get to grips with the national debt then we would end up in a situation of national bankrupcy and that almost inevitably put us back into recession as all confidence in the economy would evaporaste and there would probably be a run on the pound.

I dont believe there will be any growth...I' a civil servant...I will be taking a pay-cut on 2 levels and 20% VAT...what will i buy next year?

Bingo, my point exactly Mumcentre plus.
The economy HAS to grow. Then we can deal with the debt. Think about it, you have an income of a set amount, you do all you can to generate more income before dealing with debt.

With the cuts more and more will be out of work, the unemployed benefits will spiral upwards rather than the other way around. The economy could literally implode this way.

Cut out the dead wood.... do you know what some councils' bill is? Get onto tax evasion. Generate income within the economy THEN broach the defecit. I'm not convinced going in so fast, so hard, so deep is our way out of this, it may just backfire spectacularly.

The longer we delay dealing with the debt the greater cost there will be in the long run as we will have to pay more money just servicing the debt. We're already spending more money on debt interest then we are on schools or defence this cannot be right or good for the country.

The economy is also in desperate need of rebalancing as the current economic model is unsustainable and very vulnerable to economic shocks.

YABU.

Remember, most of the deficit wasn't due to the recession at all - it was structural. It was there in the good times, and Gordon Brown didn't think it was a problem because he thought he had abolished boom and bust.

And we are paying £44b of interest on our debt just this year. Think how many schools'n'hospitals that could provide for instead.

I hope that once they do clear the deficit, they continue constraining public spending, and get a surplus, so we actually start to clear off some of Gordon Brown's debt.

It is morally wrong to pass on debts to your children.

I have absolutely no faith whatsoever in the coalition. They don't seem to have a clue -
I can't believe anyone thinks they are doing a good job!!

Yes, the country has been overspending but certainly not on services for vunerable people and children. All these things have always been run on a shoestring and will now just be cut. Talk about making the wrong people pay for the mistakes of the greedy!

And as for 'we are all in this together' bollocks - how much will DC miss his CB I wonder??

The economic situation is the excuse the Tories have always wanted to demolish the welfare state. It's an absolute gift to them - and they will come unstuck because they can't resist the temptation to show off. Gits.

YANBU. The dumb ass tory party have caused the middle classes to fearfully tighten their belts in anticipation of the double dip (thereby helping to ensure that it happens). I have stopped spending casually, preferring now to save more than usual. I will be snapping up some cheap shares in some choice public companies once the markets crash

I'm with glitter.

Confidence in the future is so bleak and with the anticipated cuts they've been going on about I don't see people wanting to spend. Things are going to grind to a halt. Unemployment will go up so I don't see much of cost saving on welfare.

I think one of the worst thing that BG did was to sell our gold reserves at a stupidly low price.

Which country actually has a surplus of funds?

New Labour was elected, in part, in 1997 on the promise they would stick to the Tory spending plans. From 2000 onwards they ran a deficit budget. We have been living beyond our means for so long, it's going to be a very rude awakening.

But the broken promises (keeping CB - both pre-election and in the mini-budget), and the crass lack of fairness in the cut really means they cannot be trusted with the job.

The problem is, neither can anyone else.

Start a Mother's Party?

giveitago China has a huge surplus (about $2 trillion I think). Russia does too. So do most of the Middle East oil countries, I think.

If the West was tougher on China - by forcing it to value its currency at the market rate - it would solve many of our problems immediately. However, no politicians in this country have the power - and China obviously doesn't want to do this because it would make its manufacturers less competitive.

I am pleased that in America some Senators are doing exactly this - they are proposing big import tariffs on Chinese goods unless the currency is allowed to float freely. Hopefully the EU will follow suit.

China can't be allowed to trade on unfair terms forever. I am all for free trade - but not on an unfair playing field.

"Coalition" my arse...

LOL @ LFN heralding fair playing fields

Wonders will never cease

Praising China and Russia for having a surplus is ludicrous. Look at the way most of their population live..............fair playing field there ?

I have zero faith in this government.