Bank of England cautions on economic recovery

Discussion in 'Economy' started by Neubarth, Nov 11, 2009.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    Bank of England says strength of economic recovery remains uncertain

    LONDON (AP) -- The Bank of England raised its forecasts for economic growth and inflation on Wednesday, but warned that Britain's economic recovery is just beginning and that its strength remains "highly uncertain."


    Bank Governor Mervyn King said the bank's moves to slash interest rates and pump billions of pounds into the economy, increased spending by the government and the depreciation of the British pound were likely to drive a recovery.

    In its quarterly inflation report, the bank predicted that the economy will return to growth by the beginning of next year, and expand by about 3.75 percent by the end of 2011 -- faster than it had forecast in August.
     
  2. Neubarth
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    Neubarth At the Ballpark July 30th

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    3.75 versus 3.5 percent increase in the GDP in the United States. So much smoke and mirrors.

    It is all corrupt as hell as it is all due to rapidly increased government spending that can not be sustained. What we have here is an artificial appearance of economic growth, but the factories and industries are still laying people off and actual production and purchases are faltering.

    I am 62 years old. I have seen many recessions and recoveries. I have never seen a recession this severe. I have never seen the government fake the numbers like they have this time around. Almost everything coming out of Washington now is false or slanted to fake people into believing that everything is improving. The only problem is that the economy is still falling and falling and falling and falling.
     
    Last edited: Nov 11, 2009

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