Tuesday, Aug 04, 2009
Buy the Paper and feel GOOD!
Express: BRITAIN'S BOUNCING BACK TO WEALTH
"BRITAIN’S economy bounced back spectacularly yesterday with shares soaring and the pound on a 10-month high against the dollar"."There was also good news in the housing market as a new report suggested prices in the UK will soar by as much as 20 per cent by 2014". (Is a 20% rise over 5 years "soaring"?)
Posted by alan @ 08:49 AM (1225 views) Add Comment
12 Comments
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1. gone-to-colombia said...
Never underestimate the power of denial
2. timmy t said...
Phew, thank the lord. On Sunday we all thought we were toast, but the economy recovered yesterday so everything's fine now. Don't you just love it when economies do that. Now that we've recovered why don't we send 50 quid to Africa - third world poverty could be solved by Thursday. World class journalism...
3. wdbeast said...
timmy t - Send 100 quid, you can borrow the other 50 quid from Northern Rock!
4. paul said...
Daily Express Delivery - hot and fresh on your doorstep!
Sorry, but Patrick Blower has summed the current situation up better than any tabloid pastiche.
Brownaldo's green shoots
Jumpy techno theme tune too.
5. charlie brooker said...
Where would they be without the word 'bouncing'?
Its so evocative of childish fun and fat giggly imbeciles like Allslop.
FFS.
6. Dabreh said...
Did any one notice the village idiot (Sibley) had posted.
7. mr g said...
@4
Brilliant link!
I never knew the Guardian had a sense of humour.
8. mander said...
Not so fast! British companies'profits (exept banks that create money) are all time low. Unless prices go up (inflation) I do not see how to create jobs and develop business. People wrongly see value in property.
9. nomad said...
Maybe I've misjudged it, but it seems to me that in recent statements from Darling and others attempting to pressurise the banks into lending more, the accent has been firmly on small businesses while lending for mortgages has been swept off the table.
Concentrating efforts on wealth creators rather than spenders would mean a sea change has taken place.
Also very good news for most people on this site.
10. bellwether said...
The FT is closing in on 5000 which is about the average level over the past decade. This seems to say 2 things, which are kind of obvious, but worth mentioning because I don't see many people saying it:-
(1) Even excepting the recent meltdown, the UK economy has been struggling to grow in a meaningful way, even during what has been a decade of "apparent" boom both at home and globally. If during this period the FT is fairly priced at 5000/6000 then current pricing has just about fully priced in a return to historic averages. We can argue whether this is reasonable, I doubt it but there is another point and that is that large western economies are struggling to grow despite milking a boom in technology and an utterly unprecedented consumer boom.
(2) This suggests to me that growth by credit growth (which is what our world has been predicated on) has in fact been losing traction throughout the past decade ie this is not an overnight phenomenon. The stock market is however oblivous of this and seems to be rallying on a belief that what we have is a new bull market, as it that is the only possible scenario.
11. Jplevene said...
I love Labour supporting tabloids, they are like Estate Agents, everything that they say is a twisted version of the truth. Isn't propeganda great!!!
12. 51ck-6-51x said...
nomad
- I for one think you make a good observation there.
mander
- financials do generally lead the business cycle.