Thursday, April 25, 2013

Economy avoids triple-dip recession, BBC and associated leftists gutted.

God alone knows why the BBC had such a hard on for a triple dip recession other than somehow it would spite the Tory party. I mean to say, the people most affected would be those low level earners whose jobs are in jeopardy and who are struggling with the rate of inflation and other associated price rises.
Then again as these people often won't vote Labour and aren't on benefits, perhaps that explains it.
The UK economy has avoided falling back into a recession after recording faster-than-expected growth in the first three months of the year.
The Office for National Statistics said its first estimate for gross domestic product (GDP) showed the economy grew 0.3% during the first quarter of 2013.
Chancellor George Osborne said it was an "encouraging sign".
But the shadow chancellor, Ed Balls, said that the economy was "just back to where it was six months ago".
The growth in GDP means the economy avoided two consecutive quarters of contraction - the definition of a recession. There had been fears the UK would enter its third recession in five years, a so-called triple-dip recession.
The BBC once again giving credence to Ed Balls one of the architects of New Labours attempts to spend all the money the country had and then some.
One of the more amazing things recently has been the criticism aimed at the government from Labour as well as the IMF is that the government is not spending enough, this is despite the fact that they are still borrowing to ring fence their spending plans. Osborne's solution to the economic crisis seems to have been not to stop spending any more than he takes in, but to borrow slightly less than those economic numb-nuts of the Labour Party.
Either way, it's going to take generations to pay back what the successive governments of the last decade or so have borrowed. There's also pretty little sign of any willingness to try.
Still that won't stop the BBC from blaming the Tories for something that wasn't their fault in the first place.
With the left, it never has...

1 annotations:

Dioclese said...

Not for nothing has Ed Balls the Shadow Chancellor been labelled "iTalk Balls"