Ministry of Propaganda

Ministry of Propaganda - 12/Nov/2003: "It's the economy, stupid"

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It's the economy, stupid

Two topics I found interesting about the economy:

I've blogged about the rising debt levels previously, now the nasty word negative equity is raising its head again. Probably not as bad as 10 years ago, but still worrying. The big crash and most of the negative equity problems happened before I first moved to the UK, but I remember living in a house in 1997 where the owners told me the value still hadn't recovered. I believe they had to sell with a loss as the house was too small for their family.
Oh, and the trade deficit is growing. Not the US trade deficit (well, that's probably growing as well, to another record), in this case the UK trade deficit.

President Bush talks about freedom a lot, but he seems to be struggling with free trade. Will he care that the tariffs on steel imports are illegal? Probably not, as long as it might help his re-election. And the Europeans complaining about the steel tariffs are just anti-American or after his family. Something along those lines. May be freedom and free trade are not compatible? Free people shouldn't be able to trade freely?

End of entry

Entry trivia

When writing this entry the weather was: Clear, quite cold compared to the last few days

When writing this entry I was listening to: In Time: The Best of REM 1988 - 2003

During the last hour before I wrote this entry I visited this website: Washington Post

End of entry trivia

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