Friday, July 24, 2009

B, B, B, But what about all those green shoots?

UK economy suffers further slump

The recession-blighted UK economy shrank by a far worse than expected, 0.8% between April and June, gloomy official estimates showed. Well here's a MSM news article that completely goes against the grain of all that greens shoots nonsense they've been feeding the public for the last few months. About flippin' time.

Posted by general congreve @ 11:38 AM (1058 views)
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6 thoughts on “B, B, B, But what about all those green shoots?

  • general congreve says:

    Duplicate article. Looks like need-a-crash beat me to it with this one.

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  • paranoia blue says:

    Triplicate actually, but someone has to keep hammering the point home! 🙂

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  • The data from April to June is quite rear view mirror. Most sectors I deal with have become much more optimistic after that measurement period.

    At 4500-4600 the FTSE looks cheap to me but I’ve certainly been catastrophically wrong in the past but oddly enough my biggest loss was when I was bearish.

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  • UK ’09 Q2 GDP growth: -0.8% – far below estimates

    S.Korea ’09 Q2 GDP growth: +2.3% – far exceeding estimates

    UK govt. introduces car scrappage scheme in Apr. 2009, main benificiaries of the estimated 100,000 scrappage scheme funded sales so far: Hyundai and Kia (Korean carmakers).

    Gee, could there be a link?

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  • Saps said:
    “main benificiaries of the estimated 100,000 scrappage scheme funded sales so far: Hyundai and Kia (Korean carmakers).”

    Not implying you are a liar but that stat really surprises me. Can you provide a reference to that statistic?

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