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Forecasters warn of 'triple dip' recession
The Telegraph ^ | 4/20/2013 | Robert Watts

Posted on 04/20/2013 7:48:43 PM PDT by markomalley

George Osborne is bracing himself for more grim economic news with figures expected to show this week that Britain has lurched into its first “triple dip” recession.

Forecasters at Morgan Stanley, Scotia Bank and J P Morgan all expect Thursday’s GDP numbers will show the economy shrank again in the first quarter of this year.

Any contraction would represent a recession, which is judged to be two or more consecutive quarters of falling economic activity.

Confirmation of an unprecedented triple-dip would add to pressure on the Chancellor, whose austerity plans were last week criticised by the International Monetary Fund as “playing with fire”.

On Friday Fitch became the third credit ratings agency to strip Britain of its AAA rating, citing concerns about the country’s “weaker economic and fiscal outlook”. Losing the highly-prized standard could raise the already vast cost of servicing Britain’s £1.1 trillion national debt.

The Chancellor faces criticism from two flanks, with Labour calling for a slower deficit reduction plan and many Tory backbenchers demanding faster cuts to tax and public spending in a bid to power the recovery.

(Excerpt) Read more at telegraph.co.uk ...


TOPICS: Business/Economy; Government; United Kingdom
KEYWORDS:

1 posted on 04/20/2013 7:48:43 PM PDT by markomalley
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To: markomalley

2 posted on 04/20/2013 7:56:04 PM PDT by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both)
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To: markomalley
Apparently the Brits haven’t figured out how to cook the economic books like the Obamunists.
3 posted on 04/20/2013 7:58:48 PM PDT by Proud2BeRight
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To: markomalley
I was just inside a major local US mall and noted that about 10% of the stores were no longer in operation, probably due to ObamaCare mandated medical coverage responsibilites..

Brace yourselves, folks, America is entering depression territory ... again.

4 posted on 04/20/2013 8:00:14 PM PDT by OldNavyVet
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To: markomalley

As long as leftists remain in control their economy, or ours, will either swing sideways or down. Japan is another good example.


5 posted on 04/20/2013 8:00:27 PM PDT by Obadiah (High speed, low drag.)
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To: markomalley

2015, forecasters predict quadruple dip recession...


6 posted on 04/20/2013 8:10:46 PM PDT by DoughtyOne (Leftist, Progressive, Socialist, Communist, fundamentalist Islamic policies, the death of a nation.)
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To: DoughtyOne

Stagflation.


7 posted on 04/20/2013 8:16:08 PM PDT by spokeshave (The only people better off today than 4 years ago are the Prisoners at Guantanamo.)
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To: spokeshave

There is no such thing as a triple dip recession. We are in a DEPRESSION and we have been since 2008. It doesn’t seem that way because we have much more stored capital than in the past, but it can’t last forever.


8 posted on 04/20/2013 8:20:29 PM PDT by Daralundy
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To: markomalley; blam; All

” - - - Forecasters at Morgan Stanley, Scotia Bank and J P Morgan all expect Thursday’s GDP numbers will show the economy shrank again in the first quarter of this year. - - - “

Duh, can you say RECESSION ?


9 posted on 04/20/2013 8:26:00 PM PDT by Graewoulf (Traitor John Roberts' Commune-Style Obama'care' violates U.S. Constitution AND Anti-Trust Law.)
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To: Graewoulf
EL-ERIAN: It's Official — The World Needs To Worry About The Damage Caused By QE
10 posted on 04/20/2013 8:29:47 PM PDT by blam
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To: Daralundy
BUMP what you said. Precisely.
Sometimes I feel like the world is on Mimezine.

"I must be going."


11 posted on 04/20/2013 8:35:15 PM PDT by Lancey Howard
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To: markomalley

How is this possible? Have we not been sailing on the good ship Obama pop? How fortunate are we to have Obama at the helm of our ship USA as he relentlessly sails it into the iceberg of ruin known as socialism!


12 posted on 04/20/2013 8:38:37 PM PDT by Mastador1 (I'll take a bad dog over a good politician any day!)
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To: markomalley

We’re in a depression and they just can’t admit it.


13 posted on 04/20/2013 8:39:18 PM PDT by Jack Hydrazine (I’m not a Republican, I’m a conservative! Pubbies haven't been conservative since before T.R.)
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To: BenLurkin
Hooks and Chains by 10 Pound Test

Scouts Out! Cavalry Ho!

14 posted on 04/20/2013 9:43:03 PM PDT by wku man (We are the 53%! www.7161.com/streamer.cfm?dt_track_id=21356)
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To: OldNavyVet
As the population ages who wants to walk all around a mall?
People want to get in and out of specific stores or shop online.
15 posted on 04/21/2013 3:58:27 AM PDT by Average Al
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To: OldNavyVet

I agree. I see signs of economic braking also. It’s going to get a lot worse, soon. I’m looking forward to the day when the people wake up and decide that they’ve had enough of liberals, diversity, progressivism, etc., and put God and our American ideals back on top.


16 posted on 04/21/2013 4:22:57 AM PDT by TruthFactor (The Death of Nations: Pornography, Homosexuality, Abortion)
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To: TruthFactor
I’m looking forward to the day when the people wake up and decide that they’ve had enough of liberals, diversity, progressivism, etc., and put God and our American ideals back on top.

Me too, except for the fact that there is more than one God out there ... one of which calling for death to "infidels."

The foremost American ideal is individual freedom.

17 posted on 04/21/2013 8:03:16 AM PDT by OldNavyVet
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To: OldNavyVet

Individual freedom is the foremost of American ideals, but there is only one God, and Jesus Christ is his one and only Son.


18 posted on 04/21/2013 10:55:20 AM PDT by TruthFactor (The Death of Nations: Pornography, Homosexuality, Abortion)
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To: OldNavyVet

I’m looking forward to the day when we have an AMERICAN president who promotes actual growth in this country, defends it from enemies foreign and domestic and is proud to be an American.


19 posted on 04/22/2013 4:59:56 AM PDT by Texas resident (Watch the other hand.)
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To: TruthFactor

Truth lies in the eyes of beholders.


20 posted on 04/22/2013 9:07:22 AM PDT by OldNavyVet
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