# The UK: Economy & Markets



## Uncle Festivus (6 January 2011)

For all things about the UK economy & equity markets.

The FTSE is looking good at the moment, despite the 'unexpected' recent data that suggests a worsening economy, or at best, just flatlining?



> LONDON (MarketWatch) ”” Activity in Britain’s services sector saw a marginal but unexpected contraction in December, with business hit by poor weather as well as an overall decline in demand, according to a closely-watched, monthly survey of purchasing managers released Thursday.
> 
> The Markit/CIPS purchasing managers index for the services sector fell to 49.7 from a reading of 53.0 in November. Economists had forecast a more modest decline to 52.5.
> 
> A reading of less than 50 indicates activity fell, while a reading of more than 50 indicates growth.




http://www.marketwatch.com/story/british-services-activity-unexpectedly-shrinks-2011-01-06

Marginal? An outright contraction more like it! Tell it how it is MW?



> The reading on the services sector, the largest component of the British economy, follows data earlier this week on manufacturing and construction.




So the largest component of the British economy contracts substantially to contraction and the market goes up another 50 points?



> A gauge of construction fell in December to 49.1 from 51.8 the previous month, CIPS and Markit said yesterday. An index of manufacturing rose to 58.3, the highest in 16 years, from 57.5 in November as the weaker pound helped drive export orders, the groups said Jan. 5.



VAT has also gone up to 20% as from Jan 1, so the already worse-than-expected retail figures for Dec had the benefit of a last ditched splurge from shoppers wanting to avoid the higher tax.

Public sector employees also face the start of the governments austerity drive to contain costs by joining the unemployed que.



> UK National Debt - how Britain owes over £900 billion
> 
> The Government forecasts it will soar to an eye-watering *£1.1 trillion* by 2011. To put that in perspective, the UK went bust in 1976 running a budget deficit of 6% of GDP. In 2010 that deficit is going to top 11%.




Somethings gonna give .................sooner or later?


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## tothemax6 (7 January 2011)

Can someone tell me what the UK actually produces again? I think I have only seen one thing recently (a valve) that said 'Made in England'. I'm not being disparaging, I just don't know where their money comes from.


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## Wysiwyg (7 January 2011)

Uncle Festivus said:


> VAT has also gone up to 20% as from Jan 1, so the already worse-than-expected retail figures for Dec had the benefit of a last ditched splurge from shoppers wanting to avoid the higher tax.
> 
> Public sector employees also face the start of the governments austerity drive to contain costs by joining the unemployed que.
> 
> ...




Wonder what a flourishing economy will look like?  Overdue for a correction in my opinion but the markets more often than not defy anticipation.


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## Uncle Festivus (26 January 2011)

Did somebody say Stagflation?



> Fears are growing that the UK is running the risk of a period of painful "stagflation",    as official figures should this week show that growth continued to slow down    in the final three months of 2010.
> 
> Analysts think the economy is already showing symptoms of stagflation – the    toxic cocktail of stagnating growth and rising prices that leaves    policymakers *unable to tackle one problem without making the other worse*.    Households suffer, as the weak labour market means wages do not keep pace    with wider price rises in the economy.



Story

Not only slowed but reversed......



> Britain’s economy *unexpectedly* shrank the most in more than a year in the fourth quarter as construction slumped and the coldest December in a century hampered services and retailing.
> 
> Gross domestic product fell 0.5 percent after increasing 0.7 percent in the previous quarter, the Office for National Statistics said in London today.



Story



> *Double-dip talk returns as UK economic growth slows*
> *
> The number of British companies in financial distress has risen for the first    time since the beginning of 2009, in a statistic that will drive fears that    Britain could be entering a double-dip recession.  *
> 
> Almost 148,000 companies are in difficulties before the the full impact of    spending cuts and tax rises has even been felt, according to a report from    Begbies Traynor, the insolvency specialist.



Story

So the UK is just a quarter away from recession, again, and the FTSE shrugs it off, again?


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## Uncle Festivus (2 May 2012)

Did somebody say 'double dip'?

The UK economy has returned to recession, after shrinking by 0.2% in the first three months of 2012.  A sharp fall in construction output was behind the surprise contraction, the Office for National Statistics said.






Just don't tell 'the market'.......


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## noirua (29 January 2022)

The UK Government last week defended its record of providing £80billion in job support to businesses during the pandemic, disputing the £4.3billion figure, while acknowledging some fraud had occurred. 
However on Monday, Theodore Agnew, a Tory who sits in the House of Lords, said he was resigning as a junior minister in the Treasury and Cabinet Office departments. 
28 January 2022
Part of his role included oversight of spending and reducing fraud, citing "schoolboy errors".




__





						Rishi Sunak nightmare: Missing £4.3bn of taxpayer cash 'fraud on scale never seen before'
					





					www.msn.com


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## Garpal Gumnut (29 January 2022)

noirua said:


> The UK Government last week defended its record of providing £80billion in job support to businesses during the pandemic, disputing the £4.3billion figure, while acknowledging some fraud had occurred.
> However on Monday, Theodore Agnew, a Tory who sits in the House of Lords, said he was resigning as a junior minister in the Treasury and Cabinet Office departments.
> 28 January 2022
> Part of his role included oversight of spending and reducing fraud, citing "schoolboy errors".
> ...



I believe that rising energy prices and inflation will dog the UK on top of the National Debt which face all countries since Covid. 

gg


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## noirua (29 January 2022)

Garpal Gumnut said:


> I believe that rising energy prices and inflation will dog the UK on top of the National Debt which face all countries since Covid.
> 
> gg







__





						The United Kingdom National Debt Clock 2022 Counter >> nationaldebtclock.co.uk
					

The Great Kingdom UK national debt grows at a rate of 45.486 pond per second! Watch the live debt clock 2022. Watch it live...



					www.nationaldebtclock.co.uk
				







__





						Australian Debt Clock
					






					australiandebtclock.com.au
				







__





						Compteur de la dette publique française pour 2022 Dette publique par ménage de la France » Dettepublique.fr
					

Qu'est ce que la dette publique de la France? La France s'endette de  euros de plus chaque seconde.



					www.dettepublique.fr
				







__





						The US National Debt Clock 2022 Counter >> theusdebtclock.com
					

The U.S. national debt grows at a rate of 45.486 dollar per second! Watch the live debt clock 2022. Watch it live...



					www.theusdebtclock.com


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## Dona Ferentes (28 September 2022)

Garpal Gumnut said:


> I believe that rising energy prices and inflation will dog the UK on top of the National Debt which face all countries since Covid.
> 
> gg



_and toss in a bit of incompetence_

The UK, with a new PM, has got itself in a pickle. .... high sensitivity to risk assets (which should weaken as the Fed tightens financial conditions), exposure to European stagflation and the energy shock, and external imbalances. And now POLICY misstep.

As UK *bonds *extended their losses, with the yield on the UK 10-year note up 26 basis points to 4.50% on Tuesday (or about 140 basis points higher than on 16 September) and the *pound *holds recent lows at US$1.07, hedge fund billionaire Ray Dalio lashed out at the government’s plan for a debt-funded tax-cutting spree.

In a series of tweets, Dalio said both investors and policymakers should “_heed the lesson of the UK’s policy blunder_."


> “_The panic selling you are now seeing that is leading to the plunge of UK bonds, currency, and financial assets is due to the recognition that the big supply of debt that will have to be sold by the government is much too much for the demand._





> _“That makes people want to get out of the debt and currency. I can’t understand how those who were behind this move didn’t understand that. It suggests incompetence._





> _“Mechanistically, the UK government is operating like the government of an emerging country ... it is producing too much debt in a currency that there is not a big world demand for_....


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## Dona Ferentes (29 September 2022)

And now it seem the the BoE is doing its own version of "_whatever it takes" _, which has energised markets (again). But will it succeed, acting on its own? And are these actions sustainable?



> The Bank has set off a buying spree for long-dated UK sovereign bonds to prevent tumbling prices from triggering a potential financial crisis. The BoE said it had to combat the bond market’s “_*dysfunction*_”, to avoid “a _material risk to UK financial stability” _that could stifle credit flows into the real economy......




.......... and _and it seems to be aimed to propping up (defined benefit) pension funds that hold  liability-driven investment funds (LDIs) that are (guess what?) geared. Highly leveraged._

A week ago, 10 years (Gilts) were under 3.4%, they soared to 4.5%pa, and now have dropped to 4.1%pa following the BoE buying. But the 20- and 30- year Bonds have been left without a market, as you'd expect. 


> The BoE’s bond-buying program is expected to last until October 14 and “_will be unwound in a smooth and orderly fashion once risks to market functioning are judged to have subsided_”.



Where have we heard that before?

Messy. Look for LDIs to replace CDOs in the future narratives?


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## Knobby22 (30 September 2022)

I remember when the Conservative Party was conservative.


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## sptrawler (30 September 2022)

Where's Boris when you need him.  🤣
There's a reason 60% of conservatives wanted him to stay and the media wanted him to go, it wont be long now and there will be a change of government in the U.K.
The West will implode from within, the way they are going.
The U.K, U.S, Germany, France, NZ and Aust are stating to look like that car sticker, "Don't follow me, I'm lost". 😂


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## divs4ever (1 October 2022)

sptrawler said:


> Where's Boris when you need him.  🤣
> There's a reason 60% of conservatives wanted him to stay and the media wanted him to go, it wont be long now and there will be a change of government in the U.K.
> The West will implode from within, the way they are going.
> The U.K, U.S, Germany, France, NZ and Aust are stating to look like that car sticker, "Don't follow me, I'm lost". 😂



 as long as that UK leader is Farage  the UK has a tiny chance , otherwise  the UK will sink into a swamp of mediocrity 

 the current Labour is a lost cause as well


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## sptrawler (1 October 2022)

divs4ever said:


> as long as that UK leader is Farage  the UK has a tiny chance , otherwise  the UK will sink into a swamp of mediocrity
> 
> the current Labour is a lost cause as well



Yes the media induced political turmoil has certainly had the desired effect, chaos makes the media job easy. The media doing what it does best, flipping Governments.  



			https://www.dailytelegraph.com.au/news/world/uk-pm-liz-truss-holds-crisis-meeting-as-economy-tanks-and-shock-poll-puts-her-33-points-behind/news-story/762418bea02df944715dd9bcfa7055a1
		


UK Prime Minister Liz Truss held crisis talks on Friday as the British economy continues to take a beating following her disastrous mini-Budget.
The PM - who has only been in the job for a matter of weeks - has presided over one of the worst financial collapses in recent British history after her new fiscal measures sparked market chaos.

The Pound plummeted to a record low of $1.03, but has now rallied to nearer $1.11.

A shock YouGov poll on Thursday night put her Conservative Party an astonishing 33 points behind the opposition, Labour. If reflected at a General Election, that would cause a landslide win for Labour.


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## divs4ever (1 October 2022)

but that same Labour Party had no alternative policies to win against BoJo  , this is just BoJo with a skirt  ( she doesn't even have  a philandering  problem or a drinking problem  )

 one thing to watch MIGHT be the break-up of the United Kingdom


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## IFocus (1 October 2022)

Knobby22 said:


> I remember when the Conservative Party was conservative.





Seems to be a world wide problem along with conservative moderates going missing or remaining silent.


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## divs4ever (1 October 2022)

time will tell , but it is obvious in the developed nations ,  i have been pleasantly surprised by examples of rational behaviour  in some African nations ( unfortunately  some those have died prematurely  )

 but yes ,  nationalist  is being labelled as racist and/or fascist  but that's OK , wait until the snowflakes  , need unity and loyalty  ( karma will bite hard )


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## Smurf1976 (1 October 2022)

IFocus said:


> Seems to be a world wide problem along with conservative moderates going missing or remaining silent.



Rather a lot of the UK and indeed Western problems are really just the inevitable consequences of what was politely termed “economic rationalism”.

That’s what scrapped energy planning throughout the West and it’s the same reason there’s a shortage of tradespeople.

Short term thinking at its worst.


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## orr (1 October 2022)

Smurf1976 said:


> Rather a lot of the UK and indeed Western problems are really just the inevitable consequences of what was politely termed “economic rationalism”.
> 
> That’s what scrapped energy planning throughout the West and it’s the same reason there’s a shortage of tradespeople.
> 
> Short term thinking at its worst.



No one can say that they weren't warned. 
For those unfamiliar see the authors of 'Britiania Unchained'_*Global Lessons for Growth and Prosperity*_ ....

 And Nothing  Jello Biafra & 'the Dead Kennedy's' weren't warning about 40+ odd years ago


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## sptrawler (1 October 2022)

Smurf1976 said:


> Rather a lot of the UK and indeed Western problems are really just the inevitable consequences of what was politely termed “economic rationalism”.
> 
> That’s what scrapped energy planning throughout the West and it’s the same reason there’s a shortage of tradespeople.
> 
> Short term thinking at its worst.



Yes the 1980's-90's push to globalism and outsourcing, get competitive or go broke, most went broke and those that didn't were supplying an essential service that the various governments couldn't afford to let go broke.


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## Knobby22 (3 October 2022)

Liz Truss has cancelled the unfunded tax cuts after being called (indirectly) moronic by the previous Reserve Bank Governor and seeing polling that 51% of the population wanted her to resign.

The pound rose in advance of the announcement.


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## basilio (3 October 2022)

Knobby22 said:


> Liz Truss has cancelled the unfunded tax cuts after being called (indirectly) moronic by the previous Reserve Bank Governor and seeing polling that 51% of the population wanted her to resign.
> 
> The pound rose in advance of the announcement.




What ?  Only 51% of the people wanted her to resign ? After the most insanely  stupid mini budget that almost crashed pension funds across the country ?

Honestly I think almost all the opposition parties and at least  35% of the Tory supporters  would have wanted to see the back of her. That would be well over 51% IMV. More likely 65-70%


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## moXJO (3 October 2022)

basilio said:


> What ?  Only 51% of the people wanted her to resign ? After the most insanely  stupid mini budget that almost crashed pension funds across the country ?
> 
> Honestly I think almost all the opposition parties and at least  35% of the Tory supporters  would have wanted to see the back of her. That would be well over 51% IMV. More likely 65-70%



Wonder if there was corruption and a big currency trade tied to any of this and masked as "madness".


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## Smurf1976 (4 October 2022)

> UK at significant risk of gas shortages this winter, warns energy regulator​












						UK at significant risk of gas shortages this winter, warns energy regulator
					

Electricity supplies to people's houses could be disrupted if the country runs short of gas.



					www.bbc.com
				




No surprises there, this has been inevitable for a very long time, but thought I'd mention that it seems very plausible that this coming winter will be when the bomb goes off.


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## qldfrog (4 October 2022)

Smurf1976 said:


> UK at significant risk of gas shortages this winter, warns energy regulator
> 
> 
> Electricity supplies to people's houses could be disrupted if the country runs short of gas.
> ...



Or to distract the populace..when the bombs go off litteraly...nuk(e) nuk(e)


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## divs4ever (4 October 2022)

well Russia has already sent a simulation  of a huge seawater bath to England ( i assume it would be the East Coast it would be a shame for the Welsh or Scottish mountains to spoil the event )

 now strangely  i thought Russia would save such a device  for the US West Coast  but maybe they have a couple ( or more ) of them 

 seems Russia is losing it's end on 'crude but efficient '


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## noirua (14 October 2022)

Comments to UK Prime Minister Liz Truss by King George III sums up the UK Government and economic prospects:


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## noirua (15 October 2022)

Kwasi Kwarteng reportedly believes Liz Truss ‘only has a few weeks’ – as it happened
					

Source close to sacked chancellor briefs Times that ‘wagons are still going to circle’ around embattled prime minsiter




					www.theguardian.com
				




The UK's Chancellor of the Exchequer/ Finance Minister has resigned and he is the third this year to resign and a fourth has been appointed. The UK government is on its knees but having an 80 seat majority in parliament means it can survive for more than two more years. Trouble is that if Liz Truss resigns as Prime Minister which looks certain squabbles within the ruling Conservative party are set to continue in the new banana Republic.


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## Gunnerguy (15 October 2022)

noirua said:


> Comments to UK Prime Minister Liz Truss by King George III sums up the UK Government and economic prospects:




Charles III    😞😞😞


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## rcw1 (21 October 2022)

Good evening
Prime Minister Liz Truss has announced she is resigning from office, putting an end to speculation around her future and making her the shortest-serving prime minister in UK history.

Kind regards
rcw1


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## divs4ever (21 October 2022)

rcw1 said:


> Good evening
> Prime Minister Liz Truss has announced she is resigning from office, putting an end to speculation around her future and making her the shortest-serving prime minister in UK history.
> 
> Kind regards
> rcw1



 and the most fondly fare-welled ??

 don't jump for joy too early  , there are some demands for the return of BoJo 

i suppose the Tory treachery after the Brexit referendum  is having it's consequence


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## Knobby22 (21 October 2022)

Called it! What a fool. Goodbye Liz Truss.


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## frugal.rock (21 October 2022)

rcw1 said:


> shortest-serving



They need a tallest serving PM...😁


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## Dona Ferentes (21 October 2022)

At least she got to meet the Queen


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## Knobby22 (21 October 2022)




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## divs4ever (21 October 2022)

Dona Ferentes said:


> At least she got to meet the Queen



 and then buried her as well  ( as the British economy )


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## divs4ever (21 October 2022)

Knobby22 said:


> View attachment 148273



 that aged well , ( sarcasm )


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## frugal.rock (21 October 2022)

Bring back Boris


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## bk1 (21 October 2022)

i agree, however..

Rishi Sunak 13/8
Penny Mordaunt 9/2
Boris Johnson 14/1

British bookmakers market for next prime minister only.


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## divs4ever (21 October 2022)

i vote George Galloway 









						George Galloway - Wikipedia
					






					en.wikipedia.org
				




 but of course IF  Scotland votes  to leave the United Kingdom  (  vote due to happen this month ) George might be made ineligible


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## bk1 (21 October 2022)

Scotland cannot vote on anything like Independence without first the Supreme Court agreeing that Scottish politicians can legislate for a referendum without the agreement of Parliament.
We have been down this road before and the Supreme Court disagreed with Sturgeon then, as the major political parties within Parliament do now.


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## Knobby22 (24 October 2022)

Looks like Sunak will be next PM and would have been previously if chosen by the Parliamentary members.

The Conservatives Party going to their members to choose is a real weakness. Too easily influenced by powers in the right wing media.

Sunak will be good but will he be good enough?


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## divs4ever (24 October 2022)

bk1 said:


> Scotland cannot vote on anything like Independence without first the Supreme Court agreeing that Scottish politicians can legislate for a referendum without the agreement of Parliament.
> We have been down this road before and the Supreme Court disagreed with Sturgeon then, as the major political parties within Parliament do now.



 we will see ,
   England has a mess of problems and is weak  , and the Scots can get a bit feisty  , and the rumblings in Ireland  might be the distraction needed  for a viable opportunity   ( remember the major groups in the separatists  want to embrace the EU again  , so England might get limited support )


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## divs4ever (24 October 2022)

Knobby22 said:


> Looks like Sunak will be next PM and would have been previously if chosen by the Parliamentary members.
> 
> The Conservatives Party going to their members to choose is a real weakness. Too easily influenced by powers in the right wing media.
> 
> Sunak will be good but will he be good enough?



 right wing media ?? do they still exist  ( in the mainstream  )  don't be fooled Murdoch  is just as Globalist  and Climate Agenda as anybody   but the unchallenged ad revenue is on the right ( and Populists ) 

 so do you  fight for scraps or go where the pot of money  is uncontested ??

 i am not sure J.C. himself can get Britain  out of this mess  , in a status above 3rd world 

 sadly i hold a few shares that give exposure to the UK financial sector  , so am caught between apprehension and the mother of all top-up opportunities 

 the upside for the Tories is the Left  is equally weak ( or weaker ) so they still have the tiniest of chances  ( the Left are all remainers as well )


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## wayneL (24 October 2022)

Sunak is a panderer and won't improve things a jot. Nope, not one iota.

And the Labour Party? Have you seen footage from their conference?  They will be mired down in debates about pronouns and the definition of a woman for at least three decades.


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## Knobby22 (24 October 2022)

divs4ever said:


> right wing media ?? do they still exist  ( in the mainstream  )  don't be fooled Murdoch  is just as Globalist  and Climate Agenda as anybody   but the unchallenged ad revenue is on the right ( and Populists )
> 
> so do you  fight for scraps or go where the pot of money  is uncontested ??
> 
> ...



The previous  PM got a lot of support by media that Tory members follow.
Simple as that.

Sunak appears to be the right stuff and he has time on his side. 

We all knew Brexit would hurt but he has time to develop a way forward. He needs to work on trade ties to get the UK out of this mess. So I give him a chance.


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## wayneL (24 October 2022)

With Hunt as Chancellor?

Give me a break.


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## Knobby22 (24 October 2022)

wayneL said:


> With Hunt as Chancellor?
> 
> Give me a break.



He will control Hunt. The Trade Minister is the important appointment.


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## divs4ever (24 October 2022)

Knobby22 said:


> The previous  PM got a lot of support by media that Tory members follow.
> Simple as that.
> 
> Sunak appears to be the right stuff and he has time on his side.
> ...



 i was surprised  the people  voted for the Brexit  , but saw it as a brave attempt to chart it's own fate  amid a greater EU crisis  ( given it still retained it's own currency )

 i have been underwhelmed  by the parade of UK politicians since  ( including Ms May )

 given the progress since the vote   , i am less optimistic  , to my mind it will be a race  to who makes the worse mess  ( the UK or EU )

 given the rapid turnover of leaders and policies  , creating solid trade ties ( outside or inside the EU ) will be a Herculean task  ( they may as well just buy on the spot market , whatever they can )


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## divs4ever (24 October 2022)

wayneL said:


> With Hunt as Chancellor?
> 
> Give me a break.



possibly Hunt for PM , with a bit of external help  ( i do NOT think this is a good thing , but it seems all sorts of agendas  are being tried in the UK , by both UK citizens and others  )


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## wayneL (24 October 2022)

They need The Nige. Both Labour and Cons, (and the ridiculous LibDems) should just go and get in the sea.

The UK's only hope is somehow forming a Kemi/Nigel alliance and putting the rest of them in shackles in the Tower of London...

Put Charles there too.


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## divs4ever (24 October 2022)

wayneL said:


> They need The Nige. Both Labour and Cons, (and the ridiculous LibDems) should just go and get in the sea.
> 
> The UK's only hope is somehow forming a Kemi/Nigel alliance and putting the rest of them in shackles in the Tower of London...
> 
> Put Charles there too.



 Nigel has already declared  that he can't do what is needed alone  , and asked for others to help ( i assume current party hacks need not apply .

 but who ( if anyone ) will come to actually help  when white-anting and back-stabbing  are the current politicians toolkit ( in much of the Western world )

 ( can't put them in the sea , ocean levels will  rise , and to fit them all in  the Tower will have to go to the moon )


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## Knobby22 (25 October 2022)

Sumak in.


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## wayneL (25 October 2022)

Ta ta, pip pip, and all that rot, to the UK.

It's finished.


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## divs4ever (25 October 2022)

Knobby22 said:


> Sumak in.



 so do we  start a comp.   tipping the next REAL election  and a Labour Party win  ??

 ( not that Labour will improve anything worthwhile , maybe bring in the pronoun police )


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## Knobby22 (25 October 2022)

divs4ever said:


> so do we  start a comp.   tipping the next REAL election  and a Labour Party win  ??
> 
> ( not that Labour will improve anything worthwhile , maybe bring in the pronoun police )



A few years away!


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## Knobby22 (25 October 2022)

wayneL said:


> Ta ta, pip pip, and all that rot, to the UK.
> 
> It's finished.



Always the pessimist. 
But I suppose you would say that's what an optimist calls a realist.😄


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## noirua (25 October 2022)

wayneL said:


> They need The Nige. Both Labour and Cons, (and the ridiculous LibDems) should just go and get in the sea.
> 
> The UK's only hope is somehow forming a Kemi/Nigel alliance and putting the rest of them in shackles in the Tower of London...
> 
> Put Charles there too.











						Just Stop Oil protesters throw cake at King Charles' waxwork
					

Four people were arrested after Just Stop Oil protesters covered the statue in chocolate cake




					www.leicestermercury.co.uk
				











						Rishi Sunak: What will new prime minister mean for Scotland?
					

What does the former Chancellor's appointment as Conservative leader mean for politics in Scotland?



					www.bbc.co.uk
				



Another problem as Scotland wants Independence from UK. Although the UK narrowly remains the world's fifth largest economy with India sixth - Australia is number 13 and *Tuvalu is the smallest situated between Australia and Hawaii.








						Tuvalu - Wikipedia
					






					en.wikipedia.org
				



*


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## noirua (1 November 2022)

UK Economic growth has been evaporating over the last four quarters. One recent survey suggests the economy has already fallen into a recession, and even the more optimistic projections are for growth to be close to zero next year.
The country is facing record high inflation - partly as a result of the war in Ukraine, but also a result of the weakening currency. This leaves consumers with less discretionary spending which impacts the economy further.
The British Pound had plunged to its lowest level against the U.S. Dollar since 1985.
Government debt is rising, and the cost of servicing that debt is also rising as interest rates rise.
The consequences of Brexit have made Britain less competitive and are expected to reduce productivity - meaning citizens will on average be poorer.
The possibility of electricity rationing if Russia cuts off gas supplies
Simply Wall St


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## noirua (1 November 2022)

Australia looks top dog compared to the motley crew above.​Australia Economic Snapshot​Economic Forecast Summary (June 2022)​Real *GDP* is projected to grow by *4.2% in 2022* and *2.5% in 2023*. The Australian economy is set to continue its solid recovery from the pandemic after having withstood the recent resurgence of COVID-19 cases as well as severe flooding in the states of Queensland and New South Wales. Wage and price pressures will rise given the already tight labour market and the strains on global supply chains, before moderating in 2023.








						Australia Economic Snapshot - OECD
					






					www.oecd.org


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## qldfrog (1 November 2022)

noirua said:


> View attachment 148692
> 
> Australia looks top dog compared to the motley crew above.​Australia Economic Snapshot​Economic Forecast Summary (June 2022)​Real *GDP* is projected to grow by *4.2% in 2022* and *2.5% in 2023*. The Australian economy is set to continue its solid recovery from the pandemic after having withstood the recent resurgence of COVID-19 cases as well as severe flooding in the states of Queensland and New South Wales. Wage and price pressures will rise given the already tight labour market and the strains on global supply chains, before moderating in 2023.
> 
> ...



We need to take these gdp figures with caution
These are Real gdp so








						What Real Gross Domestic Product (Real GDP) Is, How to Calculate It, vs Nominal
					

Real gross domestic product (real GDP) is an inflation-adjusted measure of the value of all goods and services produced in an economy.




					www.investopedia.com
				



Inflation should be taken into account 
Obviously inflation used is the official one. So from this twisted always changed  basket.
Now a 2% growth on top of an official 8% inflation means an economy going up 10% in $ amount on a year...
So 10% more tax $ revenues..we all agree?. Actually more due to bracket creepetc.. hum .lets see if the budget has 10% extra income..and not debt funded on a year.....
I reckon this is highly fudged data


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## divs4ever (1 November 2022)

qldfrog said:


> I reckon this is highly fudged data



 on that , i absolutely agree 

 and because of the constantly fudged data  ( fudged in extra ways at  whim )

 i suspect unofficial  corporate opinions and street level views  are now the most accurate indicators ( but sadly don't give quantifiable data , that can be modeled reliably )

 i would suggest we are flying whilst being deliberately blinded 

 ( PS this was happening during the previous government as well )


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