Friday, April 6, 2007

UK heading for Stagflation

Economy grew 0.5 pct in first quarter

Economic growth is slowing in the UK. At the same time, wages and prices are rising. The reasons are simple - 1.) people need more money to buy a place to live and 2.) firms need to charge more to pay them more. However, this makes us less competitive against the far east. Thank you to the best Chancellor we ever had for this economic miracle!

Posted by royston @ 04:48 PM (451 views)
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