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Joey Buttafueco Jr

Q2 Gpd: -.8% Qoq, -5.6% Yoy

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The BBC Breakfast News were positively salivating over the fact these figures were going to be less bad than before.

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So in our brave new world:

Debt = Wealth

Recovery = Things keep getting worse

Strange times we live in..

Still, I guess being unemployed makes me a valued, hard working member of society then?

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The BBC Breakfast News were positively salivating over the fact these figures were going to be less bad than before.

silly people, the reductionin output reflects directly on revenue, and therefore profit.

and therefore tax take.

and therefore borrowing requirement.

it sounds not a lot, but a small drop in revenues impacts hugely on profits.

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with this + norwich have a good holiday u pr1ck

never harboured such dislike for a fellow jock

Do some Scottish people say Brown 'isn't a real Scot' in the way feminists used to say 'Thatcher isn't a real woman'?

Edited by blankster

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Never mind. That's the past. The market is forward looking.

:blink:

and if they just looked down at their feet, they might notice the commercial debt defaults looming, the ALT-A and option arms resets...but that doesnt matter, its in america.......hold on....didnt the credit crunch start over there or sumfin?

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Expected: -0.3% MOM, -5.2% YOY

and yet FTSE is up and £ barely changed...

The UK is the first country in the G7 to release Q2 GDP figs - is the market discounting worse-than-expected figures all around?

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BBC headline: Economy shrinks at a slower pace?!!!

On opening the page I noticed that this is, overall, the biggest fall since records began in 1955.

Let's keep talking ourselves outa' the slump, remember nothing really excists!

I'm all up for getting out of this whole mess but am having less and less respect for the beebs reporting style.

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July 24 (Bloomberg) -- The U.K. economy shrank more than twice as much as economists forecast in the second quarter as a record annual slump in construction, banking and business services kept Britain mired in recession.

Unemployment in the quarter through May increased by 281,000, the most since records began in 1971. The jobless benefit roll has reached 1.56 million, the most in 12 years.

http://www.bloomberg.com/apps/news?pid=206...id=a2cF99TzA7sk

I guess the FTSE will be heading down again today then.

ALSO index of services down -1.0%

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Okay, rough-and-ready version.

It appears that it was the BoE's which was the (very) rough and ready version.

I do like the way that I have to keep scrolling down to get to where we actually are. Excellent work!

Peter.

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BBC headline: Economy shrinks at a slower pace?!!!

On opening the page I noticed that this is, overall, the biggest fall since records began in 1955.

Let's keep talking ourselves outa' the slump, remember nothing really excists!

I'm all up for getting out of this whole mess but am having less and less respect for the beebs reporting style.

Totally agree. Nothing wrong with a bit of optimism - but their uber optimism at all costs is a bit much.

They were talking about the recovery and what it would mean to some RBS chap earlier. He was pretty blunt in saying they expected these figures to be 'less bad' than before. Didn't exactly sound confident or optimistic.

The BBC guy jumped in and started wailing about 'Well when the recovery comes what will....' blah blah.

Maybe they think it has been doom and gloom for too long ?

Anyway if you think they are bad you should see Reporting Scotland. Painful optimism.

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Okay, rough-and-ready version.

IRGDPfan0508X3.gif

has a small child scribbled in green on your chart?

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Okay, rough-and-ready version.

IRGDPfan0508X3.gif

Holy ******. Similar to their predictions on RPI/CPI last year. Their 'fan' had a spread between 1 and 3 %. The actual figures were over 5%.

Actually - what do these people use for their predictions ? Finger in the air. The above gives them a 4.5% spread in which they can say they were 'right'. That is rather generous - and they still got it seriously wrong.

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Okay, rough-and-ready version.

IRGDPfan0508X3.gif

Can you email that to Stephanie Flanders and Co. and ask them to hold it up to Merv at the next on-camera Q&A session?

It would have much more impact than rather obscure points about QE that no-one in the public understands.

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Okay, rough-and-ready version.

IRGDPfan0508X3.gif

But look, the rate at which the economy is shrinking is slowing down ..... Must be green shoots ......

:lol::lol::lol::lol::lol:

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Just had a thought. All the debt we are getting into. All the spending plans. All the pay back plans. Etc..

Aren't they all sort of reliant on that green fan thingy being correct........... :ph34r:

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