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’Annals of unrealistic GDP forecasts, UK edition
UK Q1 GDP is out, and as feared has come in much worse than consensus expectations. Here’s the table from Reuters:
Here’s the joyfully long-list of records that reading achieves:
* Biggest quarterly
The RBS bonus bonanza!
A curious anecdote. Back in the 1990′s, Goldman Sachs had a rather archaic payroll system that could only cut a cheque with a maximum value of $100,000. On bonus day, those cheques would arrive in little individual envelopes.
Don’t mind the locals, Darling
Via Felix Salmon at Market Movers. A sign in a Reykjavik Draper’s, found on Flickr:
Related link:
Iceland – the Darling Tapes – FT Alphaville
Darling aka Robin Hood
As reported in the FT, UK Chancellor of the Exchequer Alistair Darling is planning to go all Robin-Hood by upping taxes on the rich to incentivise spending by the poor via tax cuts – and with that cure the ailments of the UK economy.