Thursday, December 20, 2007

Ahhh… Gordonomics! – What a mess!

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The data is evidence of a "dangerously unbalanced economy", according to Jonathan Loynes of Capital Economics. In a monthly report on government financing, the Office for National Statistics said that public sector net borrowing hit a record £11.21bn in November. Mr Loynes added that the borrowing figures suggested that the government was on track to overshoot its pre-Budget report forecast by at least £5bn this year. "Overall, a pretty ugly picture, supporting our view that the coming economic slowdown will be a prolonged period of adjustment rather than a short pause for breath like that seen in 2005," he explained.

Posted by tyrellcorporation @ 11:40 AM (1164 views)
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9 thoughts on “Ahhh… Gordonomics! – What a mess!

  • PRUDENCE – my @rse

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  • The work of this 1st class idiot is beginning to unravel….

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  • tyrellcorporation says:

    Ooops. headline: Key UK deficit widens to record

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  • I heard him mention “sound economic fundamentals” again the other day at the Press briefing with Chancellor D – he’s beginning to sound like an estate agent.

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  • ”he’s beginning to sound like an estate agent.”

    Indeed. I was just on the phone to an estate agent….here is the conversation:-

    Me: ”so how are you finding the market?”

    Estate agent: ”it’s different; but that’s only because it’s xmas. In the new year, it will go back to normal”

    Me: ”I’m not sure sure about that”

    Estate agent: ”well…..I am in the trade you know”

    Me: ”Well you would say that, wouldn’t you?”

    Estate agent: ”[silence]”

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  • “What is really shocking about these figures is that they reveal that the Exchequer was running a large current deficit before the credit crisis hit home, when the economy was doing very well and it should have been showing a large current surplus,” said Professor Peter Spencer, chief economic advisor to the Ernst & Young Item Club.”

    Gordon Brown is a complete @arsehole. I saw him on the news last night banging on about ‘low inflation’ (yeah right), strong econonmy, blah, blah. How he has the gaul to stand there and tell us all not to worry when he knows he’s shafted us is unbeleivable.

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  • I think Brown was so focussed on becoming PM that he simply sold the economic stability of the country to achieve that ambition.
    The deficit figures are shocking for an “miracle economy”.

    The sad fact of the matter is that he is not PM material, he is completely out of his depth as PM and is little more than a bean-counter who is so focussed on cost cutting exercises that he is completely unable to understand the concepts of “tomorrow” and “long-term stability”.

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  • Lets just go back to the concern we all have in respect of inflation and contrast this with a group of people who will be much less concerned with inflation i.e. those with Final Salary, reduced accrual rate, indexed linked, “gold plated” pension schemes – now can any visitors to this site seriously remind me who fits into this category?

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  • “now can any visitors to this site seriously remind me who fits into this category?”

    Just about everyone working for the government then …

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