Friday, Dec 21, 2007
Sterling under pressure
The Telegraph: Debt fears push sterling to 20 month low
The pound has slumped to its lowest level in 20 months, after a "shocking" raft of figures revealed how deeply reliant the UK has become on debt. Britain's current account has recorded its worst deficit since the late 1980s, making Britain's national balance sheet worse than the United States' for the first time since Nigel Lawson was Chancellor of the Exchequer.
Posted by holding out @ 02:01 PM (915 views) Add Comment
8 Comments
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1. confused76 said...
"I have been in this business for ten years and this is the most uncertain I've felt about the prospects for the UK economy. Things could get much worse."
how can these "experts" talk about cycles if they have never lived through one!
2. drewster said...
All the positive news stories about Christmas shopping in New York with $2 to the pound have masked the real state of the economy. Britain and America are like two drunks in a bar arguing over who is most sober, while the relatively sober Euro-zone, China, etc. all stare at them.
3. crash bandicoot said...
Another 0.25% rate cut and we'll all be fine. Won't we.......................
4. sold 2 rent 1 said...
China is not drunk. It is the bar owner and relies on its regular p*ssheads for its income.
Everyone loses in this bar.
5. sold 2 rent 1 said...
Euro-zone are the dysfunctional family at the corner table where the smart siblings support the idiot ones. It will all end in a family bust-up soon over who gets the next round in
6. planning4acrash said...
How this can be news is beyond me. Its old news, why so much bull sh%t in the press over the past couple of years? Why the Cr$p about needing low interest rates since 2000 What the F%^K?!
7. george monsoon said...
speaking of drinks, why are we all not down the pub ourselves? its the last Friday before Christmas.!
I'm off to get drunk, while I can still afford a pint!
have a good one everyone...
8. Alan said...
Diana said "I have been in this business for ten years...."
The point for Diana to take is that for all these years we've been building up a debt mountain. Guess what: in economics the unsustainable is never sustained!