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 ...
Brace yourselves, folks, America is entering depression territory ... again.
As long as leftists remain in control their economy, or ours, will either swing sideways or down. Japan is another good example.
2015, forecasters predict quadruple dip recession...
Stagflation.
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.
” - - - 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 ?
"I must be going."
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!
We’re in a depression and they just can’t admit it.
Scouts Out! Cavalry Ho!
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.
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.
Individual freedom is the foremost of American ideals, but there is only one God, and Jesus Christ is his one and only Son.
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.
Truth lies in the eyes of beholders.
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