Friday, Jul 24, 2009
B, B, B, But what about all those green shoots?
Yahoo News: UK economy suffers further slump
The recession-blighted UK economy shrank by a far worse than expected, 0.8% between April and June, gloomy official estimates showed.
Well here's a MSM news article that completely goes against the grain of all that greens shoots nonsense they've been feeding the public for the last few months. About flippin' time.
Posted by general congreve @ 11:38 AM (626 views) Add Comment
6 Comments
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1. general congreve said...
Duplicate article. Looks like need-a-crash beat me to it with this one.
2. paranoia blue said...
Triplicate actually, but someone has to keep hammering the point home! :)
3. denzil said...
The data from April to June is quite rear view mirror. Most sectors I deal with have become much more optimistic after that measurement period.
At 4500-4600 the FTSE looks cheap to me but I've certainly been catastrophically wrong in the past but oddly enough my biggest loss was when I was bearish.
4. Saps said...
UK '09 Q2 GDP growth: -0.8% - far below estimates
S.Korea '09 Q2 GDP growth: +2.3% - far exceeding estimates
UK govt. introduces car scrappage scheme in Apr. 2009, main benificiaries of the estimated 100,000 scrappage scheme funded sales so far: Hyundai and Kia (Korean carmakers).
Gee, could there be a link?
5. denzil said...
Saps said:
"main benificiaries of the estimated 100,000 scrappage scheme funded sales so far: Hyundai and Kia (Korean carmakers)."
Not implying you are a liar but that stat really surprises me. Can you provide a reference to that statistic?
6. Saps said...
"The first 100,000 cars were registered by early July 2009,"
http://www.parkers.co.uk/News/Scrappage-scheme/Scrappage-where-buyers-are-heading/