No, I’m not talking about the performance of my Portfolio last week, but this was how Kier Starmer (Labour party so-called Leader) characterized the mess that our current government is creating. He isn’t far wrong !!
The latest GDP figures (looks like they are for August so the situation in September is likely to be pretty scary) shows GDP growth of 2.1% and this was a fair bit behind some expectations of 4%+. After a strong bounce-back after Lockdown was eased, it is clear that growth is slowing and I think the most likely scenario is that growth continues to contract as we get into the ‘Second Wave’ (that’s not waving, it’s drowning !!), and the government policies destroy any remaining flickers of economic life. With such a background it is difficult to get bullish on Stocks although the Charts are telling me that the US wants to go higher, even with the Presidential Election not far away (and the potential for mess that creates). I will look at how the Charts stand later in this blog but just on fundamentals the outlook for the UK is pretty rough and that is without the Brexit situation as well. On the subject of Brexit, it strikes me that a deal will be cobbled together and a lot of the noise we have been hearing is the usual idiot politicians (on both sides !!!) playing the macho bully boys. Pathetic. I hope you like Fudge.
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Stocks & Markets WheelieBlogsThese tend to be more Markets and Stocks related and timely - the Blog Page on the Main WheelieDealer Website has the 'Educational' stuff (well that's the theory anyway !!). Archives
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