The Brits are in deep trouble!

[Mega]

http://business.timesonline.co.uk/to...cle4276592.ece

Notice the bit about the Blue water shopping mail, sales DOWN 24.6% !!!!!

Not long to go!
Mike

[Mega]

Re: The Brits are in deep trouble!

It gets worse!
http://www.timesonline.co.uk/tol/new...cle4276490.ece
Mike

[Chris]

Re: The Brits are in deep trouble!

hey Mike, have you got those short positions on? Looks like we're about to have a hell of a ride.

Recession threat as UK jobs vanish

By Richard Blackden

The threat of rising unemployment in Britain will be driven home this week by news that the number of permanent jobs available has fallen for the first time in five years.

This is one of several findings in a survey of employment agencies that also reveals that the number of people looking for work rose in June and the growth in demand for temporary staff is easing.

City economists say that the risk of the current slowdown escalating into Britain's first recession in almost 20 years will be determined by how aggressively companies cut staff to shield profits from a painful mix of slowing demand and rising costs.


http://www.telegraph.co.uk/money/mai.../cnjobs106.xml

At last it looks like even the governments cooked unemployment numbers can't keep this under the lid forever.

The sick man of Europe

There are 27 countries in the EU. Britain has the highest percentage of working-age citizens not working. Statistically, Britons are also the feeblest race in Europe (with the Celts the worst). Much political play has been made of a steady fall in the unemployment benefit claims count, declining since 1994; now below a million, this compares very favourably with the then three million. It looks lower than France or Germany, although all three are consistently above the EU average. Yet there have been two transfers (see chart) which completely alter the picture. The first has been to make claiming unemployment benefit more difficult. This has not resulted in a significant rise in the Hobo Index, as a plethora of workfare benefits have kept the unemployed off the streets in pretend-work, and out of the jobless statistics. Excluding universal child allowances, over half the nation receives some form of government income assistance. More important has been a fabulous statistical sleight of hand, classifying the unemployed as long term incapacitated. This is particularly evident amongst ex-government employees. Bad teachers and incompetent policemen are not fired, they become unwell. There are 31 million people of working age, of whom an astonishing 2 million are long term sick or disabled. Although their benefits will gradually be cut (through taxation or the corrosive effects of inflation), this group is a huge cap on the government’s ability to cut expenditure.

source: Bedlam asset Management PLC

[Olduvai]

Re: The Brits are in deep trouble!

hey Mike, have you got those short positions on? Looks like we're about to have a hell of a ride.

At last it looks like even the governments cooked unemployment numbers can't keep this under the lid forever.

Prepare for rigorious cuts in pensioning off into sick-leave as happened in Holland when all recently underwent new medical standard examinations and 60-70% where declared fit to work. No more 70% of last wage was payed but instead minimal wellfare.
This was not that bad as we had a booming economy, but timing such a adjustment during a recession wont make Brown very popular.
As the oil from the Noth Sea dries up so do the coffers of the UK.
Therefor I'm afraid he won't have any choice in this matter.

[Mega]

Re: The Brits are in deep trouble!

Agree 100% !!!!!
Mike/Liverpool

[Mega]

Re: The Brits are in deep trouble!

More trouble:-
http://axisoflogic.com/artman/publis...er_27406.shtml
Mike