NOT SO BLUE OCTOBER
A new London Times poll shows that Britons are more optimistic about their economy than any other time in the last 18 months.
The economy has been showing better signs in London as well with overall sales rising at their fastest increase since April and October sales having their highest street sales in seven years.
The pound reached a three month high during this new economic hill, I would not call it a peak.
Even with this sporadic growth and a relative increase in consumer confidence, the Labour Party has proposed for a national investment corporation that will invest public money in industry and enterprise.
This proposal is a similar if a more organized and logical approach to the bail-outs that we have had in the United States.
Instead of investing in failing companies, the British are opting to support what they call “high growth and innovative” companies.
The way to determine this appropriation of public funds is still a matter of debate.
Pollsters may have found out that currently the British feel better about their economy, but that same poll confirmed that two thirds of the country still believe their country will do badly in the next year.
England’s economic psyche maybe a little unstable but it is certainly moving in the right direction. The British Treasury is still pushing hard for billions in investment money arguing that the recovery can be a fragile process.
Does a simple upswing in morale move an economy towards a recovery or is it just cold hard numbers that solve these crises? Concordantly, is the United States bailing its economy in a smart way, by investing in failing companies rather than successful ones?
The greatest so-called capitalist power on the planet is treating its recovery process more like the witness protection program than a true investment deal.
If the American bailout uses American money maybe we should ask for a different investment, perhaps the Brits have some hot tips about the market.