America 29% v UK 20% .....be very careful !

the_ash_and_the_oak

although the US probably still has some way to fall, I really think it is in much better shape than the UK or Europe when it comes to recovery, because of its (comparatively) diversified (and regionalized) economy, and also because of its natural resources and (at least for now) globally pre-eminent position.

Also despite the crazyness of subprime, neg-am and alt-a type stuff (the latter still not really hit there yet I think so still a lot ot badness to comes out there), I think overall a lot of things didn't get quite so out of hand there (and also it was only in certain parts of the states rather than everywhere as over here)

I'm (comparatively) pretty positive about the US, and would be v happy if we get off as lightly as them imo

SingleSue

ManAtHome wrote: »

Is that why we still import around £3,000,000,000 than we export every month..?

Imports still outnumber exports but over the last 6 months or so, the rate of importing has decreased whilst the rate of exporting has increased, closing the gap more and more each month.

System

luvpump wrote: »

Denial

No, a fact

baileysbattlebus

the_ash_and_the_oak wrote: »

although the US probably still has some way to fall, I really think it is in much better shape than the UK or Europe when it comes to recovery, because of its (comparatively) diversified (and regionalized) economy, and also because of its natural resources and (at least for now) globally pre-eminent position.

Also despite the crazyness of subprime, neg-am and alt-a type stuff (the latter still not really hit there yet I think so still a lot ot badness to comes out there), I think overall a lot of things didn't get quite so out of hand there (and also it was only in certain parts of the states rather than everywhere as over here)

I'm (comparatively) pretty positive about the US, and would be v happy if we get off as lightly as them imo

Pres. Obama had a moratorium on foreclosure, which was lifted last month and lenders have started repossessing again.
In March 175,000 homes were repossessed.

This year there 600,000 foreclosures started and 370,000 actual repossessions. The highest since records began.

With rising unemployment, the backlog of foreclosures, increasing abandonment of property their problems are far from over.

They also have over 12 months supply of unsold new builds.

The US relies on China for a lot of it's financing - China is the largest holder of US bonds. Earlier this year the Chinese were making noises about the safety of their assets.

On the back of the US saying it thought China was manipulating the value of the Yuan to gain trade advantage over US companies, the Chinese said no one but themselves would decide where the Yuan goes.

"No country can pressure us to appreciate or depreciate" the currency.

The US have been backpedalling quickly.

As of December last year China owned $727.4bn in US bonds - no wonder they are worried.

If China loses it's appetite for US investments, it could see the $ declining and interest rates rising, thus worsening the recession in the US.

Wookster

SingleSue wrote: »

Imports still outnumber exports but over the last 6 months or so, the rate of importing has decreased whilst the rate of exporting has increased, closing the gap more and more each month.

Yup, however the UK still has a trade deficit, meaning it imports significantly more than it exports, therefore a devalued pound takes more money out of the economy than it puts in.

kennyboy66_2

Wookster wrote: »

therefore a devalued pound takes more money out of the economy than it puts in.

:rotfl::rotfl::rotfl::rotfl:

Oh, you are a card !!!!!!?

chucky

Wookster wrote: »

Yup, however the UK still has a trade deficit, meaning it imports significantly more than it exports, therefore a devalued pound takes more money out of the economy than it puts in.

more !!!!!! sound bites - how tragic

mitchaa

bing0 wrote: »

As in the past,its been quoted that the UK economy follows in line with the US economy.

If this is so,I believe we still have some way to go.There may be some upward trend in buying activity reported recently,but how does the economy as a whole stand ?

Exports are down a massive amount,unemployment is up by a large amount,the countries debt is up a fraction (joke),pay increases are rare,and if anything,workers hours are being capped.

Food prices are up on a 12 month period,as are utility bills and so on and so on.......

There seems to be a messege in all of this:

Be very careful with your money......if you have any that is !

You have failed to metion the timelines.

America down 29% in 3 years
UK down 20% in 19 months

If we are to follow path with America our drops will be 9% in the next 17 months.

No reason to suggest our falls will be any worse than theirs so if there is only going to be a 9% drop in the next 17-18months then i would seriously be thinking about buying in the not too distant future.

Silly waiting for that 9%, as in a year and a halfs time interest rates will be quite a bit higher than they are now meaning the 9% you have saved yourself in purchase price is taken up and more with bigger interest payments.

At least report the 20% and the 29% correctly;)

Wookster

kennyboy66 wrote: »

:rotfl::rotfl::rotfl::rotfl:

Oh, you are a card !!!!!!?

Another moron for the ignore list.

Dan:_4

If you don't agree with the Wookie then your're go on his ignore list. :rotfl::rotfl::rotfl: