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TheCountOfNowhere

Uk Current Account Deficit At New High

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This is a headline I'm sure I've read countless times over the years and it's not apparently affected anything.

That's exactly what the Greeks were saying in 2005

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At the same time, the UK economy grew 0.6% in the fourth quarter of 2015, higher than previous estimates of 0.5%.

As a result, the economy grew by 2.3% for the whole of 2015, rather than 2.2% as previously thought, according to the ONS.

As usual the article skirts right round how much extra debt it took for the UK economy to achieve the piddling increases in growth.

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Itl blow up in our faces. Just dont know when.

Im surprised by the current acocutn deficit when the UK is such a productive, profitable place:

http://www.bbc.co.uk/news/business-35837712

'Chloe is a single parent who is juggling work as a carer at a nursing home in Sheffield and looking after Oliver, aged three.

She currently earns £6.81 an hour and works eighteen hours a week.'

'When we visit, Oliver runs off to give his care worker, Carly Fox, a cuddle.

She too is about to get a pay rise. Aged 31, Carly works full time on £6.70 an hour, the current national minimum wage. She could be £900 better off over the next year.'

'Five of her staff, including Carly, will qualify for the new rate.

"It's a lot of money to a small business like mine that's just set up. I am going to struggle," she says.

Anita says she can't put up fees because most of her parents are entitled to 15 hours of free childcare which is paid by the government.'

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Guest BillyNI

I note that they don't mention all the money she will be getting on Tax Credits for only having a part time job.

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Its a disaster isnt it.Im adding to it.They started to off shore all the factories i used to work in so i decided to join them.I started importing from China myself and under cut every big company.Easy to do when only paying yourself.The £ is starting to wobble though and if that goes to below around £1.20/$ i expect profits will be hard to come by and we will not be able to afford to import.Inflation will be stoked soon,a lot of stock going through retailers now was bought around $1.60.

Luckily the ships are so empty at the minute they are shipping your goods here almost free.A 40 high cube container around £700 Ningbo to Felixstowe ,£2000+ a couple of years ago.If that turns around as well its inflation or bust.

This is likely to be the thing that triggers an interest rate rise at some point.I expect Osborne is toast soon as well.

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Haha,

The much promised rebalancing from the bankrupt of england - rebalacning to more debt, less investment, more quick money through the housing market.

I had been saving for years for both house and business, all the money went into the house; they have no clue of how their manipulation has been a disaster for this country or more likely they just don't care..

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Amazing

Its a disaster isnt it.Im adding to it.They started to off shore all the factories i used to work in so i decided to join them.I started importing from China myself and under cut every big company.Easy to do when only paying yourself.The £ is starting to wobble though and if that goes to below around £1.20/$ i expect profits will be hard to come by and we will not be able to afford to import.Inflation will be stoked soon,a lot of stock going through retailers now was bought around $1.60.

Luckily the ships are so empty at the minute they are shipping your goods here almost free.A 40 high cube container around £700 Ningbo to Felixstowe ,£2000+ a couple of years ago.If that turns around as well its inflation or bust.

This is likely to be the thing that triggers an interest rate rise at some point.I expect Osborne is toast soon as well.

Amazing post....we're fooooked

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Its a disaster isnt it.Im adding to it.They started to off shore all the factories i used to work in so i decided to join them.I started importing from China myself and under cut every big company.Easy to do when only paying yourself.The £ is starting to wobble though and if that goes to below around £1.20/$ i expect profits will be hard to come by and we will not be able to afford to import.Inflation will be stoked soon,a lot of stock going through retailers now was bought around $1.60.

Luckily the ships are so empty at the minute they are shipping your goods here almost free.A 40 high cube container around £700 Ningbo to Felixstowe ,£2000+ a couple of years ago.If that turns around as well its inflation or bust.

This is likely to be the thing that triggers an interest rate rise at some point.I expect Osborne is toast soon as well.

Not sure of the ship cycle - its too nuts to try and work out.

Put a lot of ships 20+ years old will be getting parked in Bangladesh and the work cargo capicity get reduced.

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Current account deficit UP.

Primary fiscal deficit UP.

Unsecured borrowing UP.

Secured borrowing UP.

24A231D100000578-2906694-image-m-38_1421

Yes, I was wondering why they dont want to nationalise the steel industry.

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Current account deficit UP.

Primary fiscal deficit UP.

Unsecured borrowing UP.

Secured borrowing UP.

24A231D100000578-2906694-image-m-38_1421

I suppose they'd argue that the increases are less than they would have been under a Labour government

It all amounts to arranging deck chairs on the titanic at this stage though.

I can't see any way out (globally) other than a general reset (e.g. through a co-ordinated default)

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