Thursday, Dec 20, 2007
The uk economy fundamentally sound?
times online: Tempus analysis: Not good
Public borrowing soared in November as corporation tax receipts again fell short of the Government's hopes
A current account deficit of 5.7 per cent of GDP (if that doesn't sound alarming, put it this way: for every £100 we are making, we are spending £105.70)t of the Government's hopes
Posted by sold out @ 09:04 PM (404 views) Add Comment
4 Comments
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1. planning4acrash said...
"- the first annual drop in mortgage lending for more than two years"
2. paul said...
Sorry, but has anyone noticed the SHEER CHURN of stories on the site these days?
I think it's around 20 stories a day!!!!!
3. Stevie Dee said...
@paul,
this site is quite simply addictive.. i'm sure political cvommentators in the media (press or otherwise) read with interest, as the contributors have a voice to express their opinions openly.. so much info, so much knowledge.. and the great thing is you can make up your own opinion.
4. drewster said...
Yes Paul - since the credit crunch took hold, the number of HPC-related news stories has basically doubled. A couple of years ago this blog was mainly VI press releases, the likes of Assetz and Savills predicting everlasting riches to come. The only negative stories were opinion pieces from long-standing bears like MarketOracle, SafeHaven, and MoneyWeek. There were a few of articles (mainly in the Guardian) focusing on the social implications of inflated housing costs, but those were few and far between. Bear-baiters like Glorious Sunshine were regular visitors to this site. These days it has changed tone (for the better) - all the broadsheets talk of is the credit crunch. Even the tabloids manage the odd panic.
About the article... yes the UK economy has "issues", which means the pound is likely to fall against most other major currencies. It might remain constant against the dollar but that's cold comfort when the dollar is sinking against the rest of the world. Luckily for us the falling pound will be a great boost to our exporters and our vibrant manufacturing sector. Or perhaps we'll all learn to speak Mandarin and open a call-centre to sell car insurance to the Chinese.