"The fundamental point is that the British economy is strong..." -U.K. Chancellor of the Exchequer, Alistair Darling, 05 Nov. 2007
"The British economy is facing the worst slowdown in 60 years and will not recover as quickly as originally forecast",- U.K. Chancellor of the Exchequer- Alistair Darling- 30 Aug.2008
In the mean time, while U.S. housing slump is ongoing, the U.K. is showing an even worse outlook. (let's put aside the Irish ad Spanish market that will see a correction not seen since 1st BC...)
"U.K. house prices fell by the most since at least 2001 in August as economic growth stagnated, and an end to the property slump is 'still some way off,' according to Hometrack Ltd"
"Nationwide Building Society and HBOS Plc reports show that the U.K. has entered its steepest property market slump since the early 1990s"
"Luxury-home prices in central London, the world's most expensive location for prime real estate, had their first annual decline in five years as buyers were deterred by the prospect of a recession"
...I heard as well Katainen saying that the economy is sound, just hope that his nose is not growing too fast...
Monday, 1 September 2008
Do They Know What they are talking About?
... that's worrying, they (the politicians) have shown lack of vision and competence...