Posted on 05/25/2012 3:36:05 AM PDT by Berlin_Freeper
The UK’s double-dip recession is deeper than originally estimated, according to new figures released today by the Office for National Statistics (ONS).
An updated assessment shows that gross domestic product (GDP) shrank by 0.3% in the first three months of 2012, revised from last month’s initial estimate for the quarter of 0.2%.
...Although last month some analysts believed that the GDP estimate could be revised upwards, today’s second estimate confirms that the UK is in recession – defined as two consecutive quarters of economic contraction.
(Excerpt) Read more at financial-news.co.uk ...
And these are the guys talking up the terrible woes of Greece and how bad the Germans are?
WE ARE IN A DEPRESSION... WE HAVE BEEN IN A DEPRESSION... AND THE FIRST NEW DEAL FAILED... AND NOW THE SECOND NEW DEAL HAS FAILED... AND THE CULT OF obamao WANTS A THIRD NEW DEAL... 5 TIMES BIGGER THAN THE FIRST TWO. FUbo!
LLS
We are in WDII. World Depression II. It cracks me up that “they” already call this the “Great Recession” based on technicalities. House prices have already fallen more than in WDI, but they stick to their technical definitions based on bogus numbers.
And we’re only in the third inning of this ball game. It’s about to get interesting as Greece becomes the first to be thrown out of the game.
Then what?
One word: socialism.
Coming soon to the Obama Imperial Capitol nearest you.
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