Thursday, October 28, 2010

EconomicsUK: Growth: As draconian cutbacks and gov-jobs layoffs set in, Brits see 0.8% GDP growth (better than was expected)

Market Pulse (Oct26,2k10) has a newsbrief item that tells us much about the way trends are going for the Kingdoms economic situation.

LONDON -- Britain's third-quarter gross domestic product grew by 0.8% compared to the previous quarter, the Office for National Statistics reported Tuesday. Compared to the same period last year, GDP grew 2.8%. Economists had forecast a 0.4% quarterly increase and a 2.4% annual rise. The economy grew at a 1.2% quarterly pace in the second quarter.
The leading reformational economist, Dr Bob Goudzwaard has long tawt us that the growth ethos was the killer in the economic values of the overdeveloped West. We're in a situation in Europe and North America where we have been experiencing a slowdown in growth to seemingly microscopic proportions, coming on the heels of overinflated mortage losses due to gov policy, collapse of the stock market, and even more the de-industrialization of our core industries (to the del+t of Enviros and pain for our workforce with its 10% unemployment outlook).

Having got what he wanted in the 'overdeveloped West,' and seeing China, India and Brazil unleashed in their hot pursuit of growth, I wonder what our mentor woud prescribe nowadays. Recently, I heard on the Net a brilliant study of macro-trends in the globally economy, by Dr Bob, given at Redeemer University College, Anacaster, Ontario. While I digest these reflections, I still find myself wondering when the GDP statistics arrive quarter by quarter, what is Dr Goudzwaard thinking now?

-- EconoMix

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