"No, I will not put up with that any longer"

Almost Churchillian.

Not really having a dig Lyn, it just jumped off the page at me.

Could this explain it? It's a true story.

Lord Muck, a suave Londoner with the gift of the gab, bought an estate in mid-Devon for two million in 1984, all of which he had borrowed from several banks. It included a three star country hotel, riding stables, all sorts of things, but the combined income could never pay off the debt.

It didn't bother Lord Muck, he employed an army of staff and bought himself a Bentley, a yacht and a house at St Ives.

He had a tame business valuer and accountant and every year borrowed more from the banks to service his ever increasing debt and lavish lifestyle.

Five years later he owed four million and sold up, his property having increased in value to eight million. After paying off all his debt, he got on to his yacht and sailed away, with four million in the bank.

Nah. it's her Trade Union background

Yes, many threads have started about Spain and after a few posts everyone is on about the UK. The point is, who starts the pissing contest not who joins in.

Well it certainly wasn't me who started having a go, was it now?

I eschew the use of the sticking out tongues symbol as I am over 5 years old.

That's because economic recovery isn't taking place, although the politicians want you to think it is. It's all smoke and mirrors yet again. A zero point x increase in GDP output is meaningless within the overall debt context.

Ultimately it's all down to the confidence in the markets of the UK governments ability to repay and service its debts. As long as that market confidence continues all will be hunky dory. Once that confidence goes, all hell will break loose. The fact that the government is spending more than its bringing in seems irrelevant as long as the markets consider the government debts repayable.

The UK economy will not recover and grow again until the government stops interfering in the property market and stops injecting yet more debt into it via QE and low interest rates and allows it to crash and find its own level. All the government is doing is propping it up and delaying and postponing the inevitable crash.

Yes, excessive debt was part of the cause, but they haven't flushed that debt out of the system to allow recovery to take place. That's why the UK economy cannot and will not grow again until they do.

This article I think explains it all really well:

http://spanishinsight.blogspot.co.uk...one-chart.html

I could have said "up with that I will not put", but I was afraid of the Grammar Nazis.

Actually the UK's economy has improved since that chart in April Do you have anything on the Spanish economy, which is what the thread is (supposingly) about

Don't be afraid, we are here to help and annoy

Improved in what way? Debt come down? Or is it because house prices in certain areas have increased? The bottom line is this—this country has the same amount of debt or higher than it did this time last year. Until that debt comes down, nothing is going to improve.

That was the whole point of my post. The UK economy is not improving regardless of what the media and politicians would like to tell you or would like you to think.

Spains economy is too closely linked to the Euro and Eurozone for them to do anything about it themselves. Unlike the UK Spain can't keep printing off unlimited quantities of cheap credit to keep their economy and housing market afloat. No surprise then that the housing market in Spain collapsed whilst the UK market just declined slightly, flatlined and then started going up again with the new impetus of cheap credit to the high street banks under-written by the BoE.

Spain needs a weak Euro to improve their exports which they won't get whilst Germany continues to prop it up with their strong economy. The only thing that can save Spains economy is to exit the Eurozone or for Germany to exit the Eurozone so the Euro can attain its correct level. Neither of which are going to happen.

So expect more of the same for Spain, it's not going to get any better anytime soon.

as someone who has been lambasted by The Harpies for mentioning the island country to the north of France - so much of this thread is off topic, much about the UK but nothing of any susbstance except a fine effort by Lynn to discuss a serious subject on the Spanish Economy.

Considering The Harpies do not live in Spain and to the best of my knowledge have no financial or other ties to the country all they are relying on is their "experience"
and considering the oh so similar posts wonder if they use the same secretary to dictate their posts to.

`

I think if you look back Lynn brought up the UK

I have read that forecasts say that UK public debt will also reach 100% of GDP by 2016, despite the economic recovery.

What do you know about peoples financial ties...have you seen their accounts I do have Spanish relatives and quite a few friends there even though I don't own property there, same as you

Maybe you should consider WHY some of them no longer reside in Spain and now prefer the UK,

or WHY others do not readily admit to residing in Spain.

Clue,
It could be connected to the topic title and various unpopular and ridiculous measures taken by the the present bunch of clowns in Madrid,

.........and no Stevie, I don't mean you.

Wonder why I get an ever increasing impression that some of those who burnt their boats are not very happy bunnies any more ?

....and no Dom, I don't mean you.

Much more relevant to the topic I would think.........

http://elpais.com/elpais/2013/09/01/...90_009212.html

"From Jobless to virtual Slavery"

With this kind of temporary economic recovery, it's little wonder that evermore peeps are packing their bags and heading North.