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We Give Up! Government Spending And Deficits Soar Pretty Much Everywhere

Authored by John Rubino via DollarCollapse.com, A recurring pattern of the past few decades involves governments promising to limit their borrowing, only to discover that hardly anyone cares. So target dates slip, bonds are issued, and the debts keep rising. This time around the timing is especially notable, since eight years of global growth ought […]


London House Prices Reach Record Unaffordability

Earlier this month, we noted further evidence that London’s housing bubble is bursting. In its October 2017 survey, the Royal Institute of Chartered Surveyors (RICS) reported the largest proportion of respondents seeing a drop in London house prices versus the previous month since 2009. The net balance was nearly two thirds (-63%) in favour of […]


Brexit Budget – Grim Outlook As UK Economy Downgraded

Brexit budget – Grim outlook as UK economic forecasts downgrade – UK Chancellor uses housing market policy as smoke-screen for deteriorating economy– UK budget matters more than ever due to BREXIT risks– Policy on stamp duty will fail to aid worsening housing market– Real GDP expected to grow by just 1.5%, 40% less than projections 2 […]


Pound Slides, Then Rebounds, After Hammond Reveals Sharp Cuts To UK GDP Forecast

Update: after the GBP initially dropped on the lower GDP forecasts, it has since rallied after Hammond finished speaking , in what Citi said was a “relief rally” as there were no “banana skins and government safe. Relief trade here.” This was a risk event – while Budget Announcements are normally quite quiet affairs in […]


Budget Preview: Chancellor Philip Hammond’s Impossible Task To “Square The UK’s Circle”

At lunchtime today, Philip Hammond will give the weakened Conservative government’s first budget in the new parliament. Against a likely backdrop of downgrades for the economy from the OBR, the Chancellor will be under immense pressure to provide a sound plan going forward on many issues. As Statista's Martin Armstrong notes, the NHS has already had its […]


British Banks Forecast Biggest Consumer Credit Collapse In 10 Years

As if Theresa May did not face enough challenges, the latest survey from The Bank of England (BoE) suggests the British consumer is about to face the biggest credit crunch since the great financial crisis. After repeated warnings from BoE about the surging pace of lending to households, British lenders are planning the biggest cutback […]


Pound Flash Crashes After Moody’s Downgrades UK To Aa2

In an otherwise boring day, when Theresa May failed to cause any major ripples with her much anticipated Brexit speech, moments ago it was Moody’s turn to stop out countless cable longs, when shortly after the US close, it downgraded the UK from Aa1 to Aa2, outlook stable, causing yet another flash crash in the […]