"Let's help Dave get his facts straight". It must be wonderful having all the answers David? I just don't understand why other economists don't share your points of view.

I am staggered by the utter
ineptitude of this Tory Government. I've lived under Thatcher, Major, Blair and Brown and this has to be the worst. In fact all Tory Governments are useless. They think they are Born to Rule and they are completely useless at it. I heard Cameron being described on the radio yesterday as being "disreputable" and "dishonest". He will say anything and do anything to justify what he and Boy Georgie are doing to the British Economy. He is a cheap chancer just like all the Tories. They couldn't run a chook raffle in a pub. USELESS! and now The Fox has been shot for trying to line the pockets of his mates at the MOD. What next? Just think it was was the opportunistic Lib Dems who gave Dave and his mates the opportunity to form a Govt. They should never be forgiven by the British people for inflicting upon us this pitiful ConDem govt. They should be banished forever to the wilderness of British politics for what they have done.

@ Daniel
u wrote;
'Here's another fact that Cameron is trying to hide us from:

"British rates are low for the same reason US rates are low — not as a reward for fiscal virtue, but because everyone know expects the economy to stay depressed, and policy rates near zero, for years to come."
So you compare Uk rates with those in the states. Then I point out that if rates are low in both these countries because of the reason u give (yawn) which is that economy is slowing, and if the French economy is slowing (do try and follow daniel), which it is, then why are their rates so high I ask. And the reason i allow myself to compare the UK to the US... staggering that I actualy have to write this biut I have become accusyomed to answering people here who have not even the smallest amount of knowledge, well let's see... let's have a little think...
1. US is reserve currency of the world (UK and france are NOT)
2. similar size poulations
3. similar size economies
So, to sum up Daniel. You link the UK to the US, I ask a question bringing france into question, you then call me a drunk and a fool asking why should the Uk be compared to France (when u've linked Uk to US)...
oh, and your last piece of genius, comparing the current debt to post second world war debt, u really think that's comparing like for like?? Dis we have state provison then as we do now? No? or our not sure? Do u know what our long term liabilities are in the uk? the ones Lagarde referred to? Or do u just spout bollox, completely in the dark about anything but it's ok cos it's anti tory... Do u even realise that the political class in the last 15 years have engineered a position where now the Chinese are talking about injecting cash int the eurozone IN RETURN FOR HARD ASSETS... something I spke of weeks ago on this website- No one else has, not in the press, anywhere- what, u can't read the future??? of course u can't blinded by your class rage no doubt...
Well just to make it easy for you, whilst u are consumed with hate your masteres are turning your children and their children into the future slaves of this world, endebted, chained with the debt- they will own nothing , not even the land their fatheres were born in. IT is time to WAKE UP!!!!!!!!!!!!!!!!!!!!!!!

Why don't you stamp your feet and hold your breath as well Bozo555.

@Matt

Oh look, no answers from Matt, what a surprise.

@matt

krugman forecast a 40% chance of recession in 2011 in the us with no specific number. come on matt where are these great forecasts of his you bought them up let's see the evidence not your usual ignorant bluster? let's see the number the correlation the accuracy for the uk. in your fantasy land? i love the way the man hedges his bets too with his us forecast a 40% chance that's like saying it might happen then it may not what a guru the man is. really sticking his neck out there.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aluoqvsvAwO8

as for your forecast get the cbi, the imf, the oecd, the british chamber of commerce forecasts from the start of the year these were all more bullish at the start of the year because they underestimated the impact of the euro area on uk growth. I know it doesn't suit your lefty narrative but growth has been dwongraded across the whole world not just here dimwit.

where i live singapore we're going to see 5-6% growth this we a minimal state and 15% flat income taxes. there isn't any big keynesian stimulus just sound economics, low levels of debt and a nice absence of the horrid socialism envy based which you pedal. I don't miss the uk at all why should my success subsidise your failure.

Why not implement a system like the commercial credit circuit (C3) here in the UK nationally to help SMEs? As a small freelance business I am experiencing massive cash flow problems this year (people taking up to 5 months to pay, haggling rates way down, then sometimes not paying at all). I am not willing to borrow from banks at interest as margins are so much narrower. I have ended up having to pay necessary assistants more than myself on some jobs I discovered to my horror last week when I did my admin.

However, it is possible to certify and 'monetize' SME invoices thereby eliminating the need for borrowing to promote cash flow. At the moment the only access to creation of money the public have is to 'borrow' from a bank at interest. Borrowing at interest to maintain cash flow seems like suicide in this climate. Only the banks win. Its getting to the point where I am considering leaving the UK as I doubt I can afford to work here much longer and do not wish to become unemployed. We need to open up the money creation cycle, not leave it up to a monopoly of private banks that only really care about the largest businesses.

Explanation of C3 system (trialed in some countries)
http://qoin.com/achtergronden/commercial-credit-circuit-c3-stro-c3u.html

Classic nonsense from roomandduster. He can't produce any evidence that Krugman forecasted a UK recession in 2011, so major failure number one.

Do you actually read the article you linked up to? It refers to the US economy and Krugman speculated a 30% to 40% chance of the US going into recession, what happened to the 30% you imbecile.

Come on then, lets see this article where Krugman predicting a UK recession, have you ever heard the expression " Publish or be damned ".

I see now the IMF, CBI, the BCC are incompetent, or is it just you simpleton.

Here is a link to a CBI forecast, dated 20th Dec 2010, before the year of our Lord 2011.

It really undermines your pathetic analysis.

http://www.bbc.co.uk/news/business-12033946

Another link listed below, is an economic forecast from the BCC, who blamed not only the eurozone, but the austerity cuts and the VAT increase.

http://www.bbc.co.uk/news/uk-11920548

Don't worry when you left the UK, I am sure the bunting was out.

@Matt

"now now bozo555, I would hate to think you where being uncharitable."

Still no answers, just more pathetic insults, I'm sure this does not go unnoticed by other readers.

It looks like Bozo555 had three weetabix this morning, he's guns are running hot at the moment.

GDP figures rising for last quarter, funny Danny B has been very quiet lately...

Here's some more facts that the Tories aren't telling: that our deficit isn't the worst in history. Far from it.

It is nowhere near the deficit of 200%+ of GDP sixty years ago! Currently it is around 55%. Did we use austerity in the fifties? No! We spent our way to growth.

http://equology.blogspot.com/2011/10/little-white-lies.html

ToomandMuster.

I am not confused, you probably are.

Don't forget, your the genius, who talks about no credible forecaster seeing declines in world economic growth.

It would seem you have never heard of Paul Krugman and Jospeh Stiglitz. Both have fully functioning crystal balls, who belong to the " I told you so " club.

Unfortunately for you and Osborne, they where correct.

Daniel
explain the link then of why it's own currency is responsible for low yields?!?!?!? Granted all factors have impact at A level, but my point is that the markets EVERYDAY talk about low yields in the UK attributable to an understanding that UK is trying to get to grips with the issue through long term restructuring etc... yet i come on here and it's NOTHING to do with that apparently- now it's cos of currency, or cos of growth slow down.
So, ONCE AGAIN, please explain why FRANCE, an economy VERY similar to ours, has such high interst rates? Can u please explain that??? And comparing Australia is disingenuous and fallacious logic. Modus tollens dear boy...

and daniel
u and blanchflower, AND krugman the clown economist so revered on this site... please be aware that every single time the truth of why rates are where they are is denied, it makes the left look that much more like the guys running eurozone, an area where the PM of it's 3 rd largest economy needs to borrow 160 Billion next year fron loaded at the beginning of 2012, but he can't fully commit time wise to discussions cos he's up un 4 judicial charges foer corruption, juvenile rape etc... not to mention his links with 'other' organisations... meanwhile everyone focused on Greece- well, mark MY words friends, you'll be writing about Italy soon, no doubt whilst preparing for the 'orderly' exits... unbelievable, but of course, our rates ALL because economies are slowing.
Head.. burried... austrich...sand...is

hmm do you want me to rub some of krugman's forecast in your face. wasn't this guy forecasting a recession this year? hmm when was that i must have missed it or did it occur in one of your fantasies.

You could rub some of krugman's forecasts in my face, but it wouldn't do anything for me. I have a bad feeling it might do something for you.

Could you point me in the direction of his prediction of recession?

Didn't the OBR forecast growth of 2.6% in 2011? Why don't you rub yourself all over these pretty inaccurate forecasts.

And don't forget Joseph Stiglitz, he damned Osborne's first budget, and has no time for " Hoover economics "

Daniel
which of these guys saw this coming?
and you explanation on causality on the low yields is, erm, well u haven't.
I noted that the day following wednesdays bailout some countries debt in europe was trading lower (UK, dutch,german) whilst spain and italy was up- France was pretty much unchanged- ANY GUESSES WHY!!!
or will u defer judgement to the 'experts' wh got us here in the first place, people ure happy to hand the car keys to but they are politically motivated and u SIMPLY don't see that/ This stuff ain't hard, stop following others and make your own mind up-read them by all means, but use YOUR judgement- not mine, not theirs, YOURS- in other words, AWAKE!

@ Daniel
why are french rates so high then clever clogs?
Can krugman answer that question?
krugman has spent his life telling is that the debt was fine, carry on, evryone keep borrowing- his policies bring the west where it is now.
So answer the question- why are french rates so high? or spanish rates? or Italian? I could go on...
Tou won't answer cos it don't suit...

Maybe we should bring Labour and Gordon back. Look how Cameron and Osborne have utterly destroyed millions of jobs in the last year and a bit:

http://www.greengates.co.uk/images/pictures/pie-chart/_53416628_unemp464x248-(page-picture-large).gif

Oops.

Yes, the last quarter was bad, but look at Labour's record: ten years of little growth in jobs, then Gordon destroyed everything.

I wonder which party Blanchflower regularly endorses.....

Guys, You cannot a debate with Tories and Republicans who do not based their views on facts.

The Great British public are waking up to the 'we do not have a clue what we are doing Tories'

The coalition government is prepared for ever higher unemployment and even stagflation so long as the economic cycle coalesces with the political cycle some time before the 2015 election

@fox

"I asked on numerous occasions, proof of Lagarde and the credit rating agencies attacking public sector pensions, still waiting."

what are you confused about foxy? we have unfunded pension liabilites of £2.2 trillion, twice the supposed national debt. are you saying that's good for our credit rating? if i was buying uk bonds i'd see that as a distinct negative.

Is it just me or do the comments by Mr Awake sound like they are generated by some Daily Mail/Tory HQ 'rant generator' app? "Hit enter for Euro/benefits/austerity rant" The Short version-the current financial model and more importantly its politicians in the west have been co-opted by a small cadre of rich to such a degree that even when we return to GDP growth it will continue to increase inequality (income/social). The inherent instability of the system nurtured over the past 30 years produces increasingly regular 'distortions' which in turn impoverish the majority in either absolute or relative terms while simultaneously enriching 'the 1%'. To deny this seems plain silly - those who propose a change are not restricted to lunatics or communists. Just as various governments claim that we 'must make changes to the national health/benefits system in order to ensure its survival.' The same is true of western economics. As the ILO have recently stated the possibility of widespread and sustained social unrest is real and we seem beset by the least dynamic, imaginative politicians since WWII -in Europe and the USA. The lack of leadership is staggering and given the scale of the problems it is bordering on criminal.

The Government doesn't need the sneering condescension of a failed Spart who is perenially completely wrong on matters economic like you, Mr Blanchflower.