Where do they get these figures? Do they make them up? I concede that the Economy is now looking better, using the evidence I see on the street, not the claptrap I hear on the telly. Car sales have recovered well, and home sales are up. However, the fly in the ointment is that debt is as bad as ever. Private debt is the highest ever, and the banks are still carrying huge amounts of stink debt. The Government is not making a lot of inroads into the National debt either, but tax receipts will be looking better in the near term. We should remember that it is debt that got us into this mess in the first place, so the fact that its not really improving is downright dangerous. This morning the news is that the UK economy is the fastest growing Western Economy Really? Then how come the US is growing at 2.5% at pres, while the UK is only growing at 1.6%? Isnt the US regarded as being part of the Western Economy? This what I meant by my opening remarks. The Fed is still printing $85 Billion dollars per month to buy Treasury Bonds, and thats a bad sign, as the value of our currencies continues to decline, while the Stock & Bond markets (the realm of the rich) are looking great. I wonder what the markets would look like without this Quantitative Easing? This QE, along with the Real Estate market heating up, will lead to higher inflation of course, something that millions of consumers are at their limits with. So the longer term outlook doesnt look as good as it appears at first. We shall see.
Posted on: Mon, 04 Nov 2013 14:17:15 +0000