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TheCountOfNowhere

Uk Trade Deficit Last Year Widest Since 2010

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So we can't get by then on selling houses to each other at inflated prices and speculating on Equities. A shame the clowns at the B of E directed our resources to do just that.

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So we can't get by then on selling houses to each other at inflated prices and speculating on Equities. A shame the clowns at the B of E directed our resources to do just that.

Clowns ?

I think not.

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"Whilst December's trade data are not as bad as they first appear, the strong pound and weak demand from the eurozone are likely to prevent a material improvement in the external position in 2015," said Paul Hollingsworth, UK Economist at Capital Economics.

The pound hasn't been strong relative to the dollar or the yuan and it's not been that strong against the euro. It's more likely to be weak demand from the eurozone and that'll likely be because the UK hasn't rebalanced the economy in the last 5 years. Quite the opposite.

They've just wasted the time trying to pump up house prices and trying to get people into more debt..

Edited by billybong

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Thats a lot of iphones

ONS @ONS 4h4 hours ago

Total #trade deficit widened to £34.8bn in 2014, largest deficit since 2010 when deficit was £37.1bn http://ow.ly/IAQMy

Jamie McGeever @ReutersJamie 4h4 hours ago

Britain's trade deficit last year was £120B, double what it was a decade ago and 10x what it was 20 years ago:

B9JzAKmCQAAZYyv.png
Edited by R K

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I wonder how much printing the currency will be able to take before it snaps?

For sure, expect QE to be extended within the next 12 months.

They're just waiting to get the election out of the way before the next flood of funny money.

article-1347979-0CCE3852000005DC-804_468

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Thats a lot of iphones

ONS ‏@ONS 4h4 hours ago

Total #trade deficit widened to £34.8bn in 2014, largest deficit since 2010 when deficit was £37.1bn http://ow.ly/IAQMy

Jamie McGeever ‏@ReutersJamie 4h4 hours ago

Britain's trade deficit last year was £120B, double what it was a decade ago and 10x what it was 20 years ago:

B9JzAKmCQAAZYyv.png

Wow! A picture really does say a thousand words.

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So much for rebalancing the economy and exporting our way out of this s**t, sorry, situation.

Funny. As far as I can tell that is a banker lie fed to us by their puppet government.

Who do we vote for to change this?

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Chancellor Brown quoted in the 1997 bbc link


He said: "I want to set in place a longterm framework for economic prosperity... I want to break from the boom bust economics of previous years."

Abject failure.

Chancellor Osborne is no better - an abject failure in his own right.

Both unmitigated time wasters.

Edited by billybong

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I posted the same chart couple of months back. Getting even worse so a Sterling crisis is on the way. Will they put up IR as a result.? Not sure they will. Sell £ if you have any. Will be a bigger deposit for a house in the future

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Osborne is turning UK into global "consumer of last resort"

Somebody has to recycle all those surplus savings. Looks like its us.

Cannot end well. Again.

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I posted the same chart couple of months back. Getting even worse so a Sterling crisis is on the way. Will they put up IR as a result.? Not sure they will. Sell £ if you have any. Will be a bigger deposit for a house in the future

Surely it is better to hold global equities than hang on to sterling? Well if I am wrong I am wrong as venger says we all make our own decisions.

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Surely it is better to hold global equities than hang on to sterling? Well if I am wrong I am wrong as venger says we all make our own decisions.

Just thinking about what I wrote above. If the British hold a lot of Global equities does that hold up Sterling? Massive holdings in pensions that will one day be sold and spent into the British economy could be the reason why Sterling hasn't tanked.

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Thats a lot of iphones

ONS @ONS 4h4 hours ago

Total #trade deficit widened to £34.8bn in 2014, largest deficit since 2010 when deficit was £37.1bn http://ow.ly/IAQMy

Jamie McGeever @ReutersJamie 4h4 hours ago

Britain's trade deficit last year was £120B, double what it was a decade ago and 10x what it was 20 years ago:

B9JzAKmCQAAZYyv.png

For those who don't realise, the above chart shows the UK trade balance in GOODS.

It doesn't include trade in SERVICES, and the UK's trade position looks considerably different when services are included.

Also, a nominal chart can give a misleading picture. The chart below shows the overall UK trade deficit (goods & services) in relation to GDP (Q4 2014 nominal GDP has been estimated).

UKTradeQ42014.gif

The recent worsening of the UK's current account deficit hasn't primarily been driven by a deteriorating trade balance as has been the case in the past - instead it's largely due to a deteriorating primary income balance. The ONS analysed this in February's Economic Review. The chart below is taken from that discussion:

EconomicReviewFeb2014_Fig4.gif

Edit: for clarity

Edited by FreeTrader

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For those who don't realise, the above chart shows the UK trade balance in GOODS.

It doesn't include trade in SERVICES, and the UK's trade position looks considerably different when services are included.

Also, a nominal chart can give a misleading picture. The chart below shows the overall UK trade deficit (goods & services) in relation to GDP (Q4 2014 nominal GDP has been estimated).

UKTradeQ42014.gif

The recent worsening of the UK's current account deficit hasn't primarily been driven by a deteriorating trade balance as has been the case in the past - instead it's largely due to a deteriorating primary income balance. The ONS analysed this in February's Economic Review. The chart below is taken from that discussion:

EconomicReviewFeb2014_Fig4.gif

Edit: for clarity

It seems to suggest that those investing their time (and money) in UK Goods (except more recently UK property) have been on a bit of a loser for the past 20/30 or so years - probably a lot longer.

Edited by billybong

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