Wednesday, January 22, 2014
Giovernment debt steadily increasing at 12,000,000,000 per month!
There was more good news for the UK economy this morning; the unemployment rate dropped to 7.1% during the three months to December - the biggest ever quarterly increase in employment. This follows the IMF this week raising its (admittedkly terrible track record-based) forecast for the UK economy; it now expects it to grow 2.4% this year which is faster than any other major European economy. Nick Beecroft, Chairman of Saxo Capital Markets UK, is Ã¢Â€ÂœoptimisticÃ¢Â€Â about BritainÃ¢Â€Â™s recovery, but has three concerns... 1. The recovery is too dependent on consumer spending (borrowing). 2. The pound is too strong. 3. Bank of England could lose its credibility. - If carney wants to keep rates lower but keep the threshold at 7 percent, people may start to ask what value it actually has.