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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (752556)	11/13/2013 10:45:59 AM
From: RetiredNow	Read Replies (1) \| Respond to of 1578094

Ted, in the past, you have pointed to UK austerity measures as the reason why the UK has struggled. The recent evidence seems to point to a payoff on their fiscal austerity measures. You see, I've always said that monetary policy largesse never addresses root causes…all it does is buy you time. In the UK, they used monetary policy to buy them time, even as they tightened fiscal policy and dealt with their banking issues to address root causes. Here in the US, Obama and Congress haven't done a damn thing to solve our fiscal issues and have left the banking criminals to continue their activities. So all we got in the US was trillions in monetary largesse with no root causes solved. -------------- Surging U.K. economy surprises central bank By Alanna Petroff @AlannaPetroff November 13, 2013: 9:44 AM ET The British economy has posted a comeback that has taken central bank officials by surprise.The jobs picture is improving and the housing market is roaring, just months after the country had been teetering on the brink of a triple-drip recession. And speculation is growing that the Bank of England could start hiking interest rates ahead of the U.S. Federal Reserve. On Wednesday, the latest official jobs data showed that unemployment continued declining, to 7.6% in the third quarter, and the Bank of England released a report showing unemployment could hit 7% by the end of 2014, much earlier than previously forecast. "At this pace, the BoE may well raise interest rates prior to the Fed," wrote Neil Jones at Mizuho Bank in a note to clients. The Bank of England had been telling the markets for months that it would only consider raising interest rates once unemployment hit the 7% target, and it wasn't expecting to see that joblessness level for roughly three years. But economists and investors had doubted the forecast, with experts across the nation feeling increasingly optimistic about the future. Now the central bank has done an about-face. The head of the Bank of England, Mark Carney, said Wednesday that "for the first time in a long time, you don't have to be an optimist to see the glass as half full. The recovery has finally taken hold." The British pound sterling surged as Carney spoke. "In essence the bank has conceded ... that the first rate hike will come in 2015, though it continues to imply that the tightening cycle will be slower than the market is expecting," wrote BNP Paribas economist David Tinsley in a note to clients. The Bank of England also upgraded its expectations for economic growth over the next two years, projecting that the country's gross domestic product will expand by 1.6% in 2013 and 2.9% in 2014.