Realistbear Posted August 20, 2009 Share Posted August 20, 2009 http://uk.biz.yahoo.com/20082009/325/gover...wing-soars.html Thursday August 20, 05:06 PM Reuters Government borrowing soars By Sumeet Desai and Matt Falloon LONDON (Reuters) - Government borrowing rose far beyond forecasts to a record for July as tax receipts crumbled in the recession, but stronger-than-expected retail sales suggest a recovery may be on the horizon. July is usually one of the two key surplus months for the public purse but official data on Thursday showed public sector net borrowing of 8.016 billion pounds last month, confounding market forecasts for a deficit of just 500 million pounds. Forecast 500m and it was over 8bn? Good news for the pound and stocks? Quote Link to comment Share on other sites More sharing options...
Realistbear Posted August 20, 2009 Author Share Posted August 20, 2009 Yawn. Quote Link to comment Share on other sites More sharing options...
deflation Posted August 20, 2009 Share Posted August 20, 2009 Covered this morning. Sorry if you weren't about! http://www.housepricecrash.co.uk/forum/ind...howtopic=123211 Quote Link to comment Share on other sites More sharing options...
1929crash Posted August 20, 2009 Share Posted August 20, 2009 Yawn. Yes, RB, it is rather late in the day for you to put in an appearance on here. Quote Link to comment Share on other sites More sharing options...
Abstra Posted August 20, 2009 Share Posted August 20, 2009 (edited) http://uk.biz.yahoo.com/20082009/325/gover...wing-soars.htmlThursday August 20, 05:06 PM Reuters Government borrowing soars By Sumeet Desai and Matt Falloon LONDON (Reuters) - Government borrowing rose far beyond forecasts to a record for July as tax receipts crumbled in the recession, but stronger-than-expected retail sales suggest a recovery may be on the horizon. July is usually one of the two key surplus months for the public purse but official data on Thursday showed public sector net borrowing of 8.016 billion pounds last month, confounding market forecasts for a deficit of just 500 million pounds. Forecast 500m and it was over 8bn? Good news for the pound and stocks? 'but stronger-than-expected retail sales suggest a recovery may be on the horizon.' What a recovery in increasing external deficit because of imports. KIN Blinding! Edited August 20, 2009 by Abstra Quote Link to comment Share on other sites More sharing options...
Realistbear Posted August 20, 2009 Author Share Posted August 20, 2009 Covered this morning. Sorry if you weren't about!http://www.housepricecrash.co.uk/forum/ind...howtopic=123211 Worst data ever recorded by a western govenment and only 6 posts on the news? The pound did rise a few ticks and the SM didn't blink. Shows you how many frogs are in the kettle. Quote Link to comment Share on other sites More sharing options...
Kazuya Posted August 20, 2009 Share Posted August 20, 2009 Nothing matters as the recover(y)(eh) is here because house prices are rising! Quote Link to comment Share on other sites More sharing options...
Timm Posted August 20, 2009 Share Posted August 20, 2009 'but (...) a recovery may be on the horizon.' Repeat to fade. Quote Link to comment Share on other sites More sharing options...
spivT Posted August 20, 2009 Share Posted August 20, 2009 Yawn. yes, i think it's called deficit spending. Supposed to happen during a recession, infact should be happening all the time if there wasn't an obsession with totally unnecessary budget surplus. Could it be the reason you haven't had many resposnes is that [:whispers:] it doesn't really matter..... Quote Link to comment Share on other sites More sharing options...
Kilham Posted August 20, 2009 Share Posted August 20, 2009 (edited) Worst data ever recorded by a western govenment and only 6 posts on the news?The pound did rise a few ticks and the SM didn't blink. Shows you how many frogs are in the kettle. I seem to remember when 800m instead of 500m would be bad news, now it's 8000m they can't even get the order of magnitude right.Pound did drop from a pre-release spike of 1.6611 to 1.6450 and is bouncing around 1.65 now. Edit - got the release time wrong, it went up about 50bps until the full realisation soaked through. Edited August 20, 2009 by Kilham Quote Link to comment Share on other sites More sharing options...
Mega Posted August 20, 2009 Share Posted August 20, 2009 RB Good eveing The CB's will ensure that the £ don't crash...............Yet! We hear more & more "Intel" of a possable "Bank Hoilday" in Sept or Oct. Notice The "Swine Flu hype" thats about? Mike Quote Link to comment Share on other sites More sharing options...
deflation Posted August 20, 2009 Share Posted August 20, 2009 Looks like it's going to stay below €1.16 for today as well. It dipped below last week but always went back up. Quote Link to comment Share on other sites More sharing options...
Pindar Posted August 20, 2009 Share Posted August 20, 2009 That's good though because debt=wealth in Brown New World. We should be jumping for joy that the bankers will swell their coffers at the expense of tax payers once again. I for one will be giving a little extra in the form of a voluntary donation to HM Revenue and Customs - every little helps. Quote Link to comment Share on other sites More sharing options...
Abstra Posted August 20, 2009 Share Posted August 20, 2009 At some stage we are going to simply run out of money. Not even QE can inject enough liquidity at ground level quick enough. We've had it. Quote Link to comment Share on other sites More sharing options...
Mega Posted August 20, 2009 Share Posted August 20, 2009 Yes, After Gordo go to Goldman Sacs! Mike Quote Link to comment Share on other sites More sharing options...
yellerkat Posted August 20, 2009 Share Posted August 20, 2009 Your subtitle's wrong, RB. It's 16 times the 'expected' figure. Quote Link to comment Share on other sites More sharing options...
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