{"id":197996,"date":"2007-12-21T16:45:00","date_gmt":"2007-12-21T21:45:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/12\/21\/more-trouble-for-anglo-saxon-capitalism-uk-defisit-soars\/"},"modified":"2007-12-21T16:45:00","modified_gmt":"2007-12-21T21:45:00","slug":"more-trouble-for-anglo-saxon-capitalism-uk-defisit-soars","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/12\/21\/more-trouble-for-anglo-saxon-capitalism-uk-defisit-soars\/","title":{"rendered":"More Trouble for Anglo-Saxon Capitalism: UK Defisit Soars"},"content":{"rendered":"<p>The <a href=\"http:\/\/news.independent.co.uk\/business\/news\/article3273201.ece\">current account deficit has increased 50% to \u00a320 billion in the 3rd quarter<\/a>.<\/p>\n<p>That&#8217;s double what was expected, and it is largely as a result of the credit crunch.<\/p>\n<p>My take is that there were a lot of revenues generated by phony deals on phony securities, and the time to pay the piper is now coming due.<\/p>\n<p>It should push down the Sterling a bit, which is one reason that <a href=\"http:\/\/40yrs.blogspot.com\/2007\/11\/economic-avalance-update-november-7.html\">my year end predictions<\/a> now look increasingly unlikely.<sup>*<\/sup><\/p>\n<p><sup>*<\/sup><span style=\"font-size:85%;\">There is also the fact that I can&#8217;t predict my way out of a paper bag.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The current account deficit has increased 50% to \u00a320 billion in the 3rd quarter. That&#8217;s double what was expected, and it is largely as a result of the credit crunch. My take is that there were a lot of revenues generated by phony deals on phony securities, and the time to pay the piper is &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,1080,973],"tags":[],"class_list":["post-197996","post","type-post","status-publish","format-standard","hentry","category-bubble","category-currency","category-economy"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197996"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=197996"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197996\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=197996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=197996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=197996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}