UK Economy Suffers Biggest Drop in 300 Years

NewsSmacks ^ | February 13, 2021

[Navy Patriot]

The British economy suffered its biggest decline in more than 300 years in 2020 as the coronavirus pandemic closed shops and restaurants, devastated the travel industry and curtailed manufacturing.

The economy shrank 9.9% last year, more than twice the figure for 2009 at the height of the global financial crisis, the Office for National Statistics said Friday. The drop is the largest since 1709, when a cold spell known as the Great Frost devastated what was then a largely agricultural economy.

[Navy Patriot]

Well deserved. ... How's that Elite European Globalism workin' out for ya now, Limeys?

[AbolishCSEU]

Was TRUMPRID-19 worth it?

[ScottinVA]

Get out of Ireland; that’ll save ya some £££.

[frogjerk]

MSM: Brexit’s fault!

[HighSierra5]

President Eleven (XI) is most satisfied.

[moovova]

No mention of illegal muzzie immigrants sucking their economy dry.

Fools living in a fool’s world.

[rktman]

That’s odd. Any ideas why? /$

[Navy Patriot]

President Eleven

Excellent! ... I'm stealing that!

[Alberta's Child]

They should consider themselves lucky. A pasture full of sheep wearing face diapers should have a GDP of $0.

[TexasFreeper2009]

socialism, aint it grand?

[frank ballenger]

Like Obama, modern British people love the sound of the Muslim Call to Prayer.

[packagingguy]

Not Brexit of course. My financial advisor said the markets are overvalued. Then I heard the same on the radio. Prepare for a correction, especially with all the new regulations.

[Tilted Irish Kilt]

(From the article): "The (EU) economy shrank 9.9% last year, more than twice the figure for 2009 at the height of the global financial crisis, the Office for National Statistics said Friday."

Is this the start of an international financial collapse ?
Now combine that with the current U.S. administrations subsidy of incentivizing the unemployed,
can our U.S. economy continue much longer without inflation/ deflation/ stagnation ?

[Shadylake]

I should’ve bought Dogecoin. It’s up over 1180% YTD. You could see it coming too, lots of hype. Just like how the stock market’s almost certainly going to crash whenever the ‘stimulus’ payments stop.

[tennmountainman]

Most Native Brits have been out breed by Muslim immigrants.

[Grampa Dave]

How are those Covid shutdowns working?

[yefragetuwrabrumuy]

And in other news, the Thames river SW of London has seen its surface freeze for the first time in 60 years.

https://wattsupwiththat.com/2021/02/13/uk-cold-weather-river-thames-freezes-over-for-first-time-in-60-years-pictured/

During the Maunder Minimum, the Thames in London froze so deeply that they were able to hold a carnival on it. But to prevent that from happening again, they dredged the river and channelized it through the city.

[PA Engineer]

I think it will be a combination of inflation, deflation and stagnation.

Another major elephant in the room is worldwide agricultural shortfalls. China is buying up everything they can get their hands on while countries such as Russia have slammed shut grain exports with high tariffs.

The Department of Agriculture's estimates are as corrupted as every other facet of the current DC swamp. The inflated harvest numbers have resulted in record exports at the expense of domestic consumption.

A further worsening of this situation will be evident prior to planting because of fertilizer shortfalls this year. Many smaller farmers that have survived two years of no plant and or no harvest will not make it in 2021.

An under appreciated result of mono crop failures are the secondary product shortages for silage animal feed. I predict we'll see a drop in price (sell off) of meat before a steep increase. It will take many years to bring ruminant animal populations back to pre-plague levels.

[Tilted Irish Kilt]

PA Engineer :" A further worsening of this situation will be evident prior to planting because of fertilizer shortfalls this year.
Many smaller farmers that have survived two years of no plant and or no harvest will not make it in 2021."

I had been unaware of the fertilizer shortfalls for this year, especially potash, and essential element for plant growth.
Rising prices for human and animal feed seed, as well as fertilizer, are adding fuel to the crop price rise.
According to Bloomberg, many farms may go under, thus even crippling further the food supply.

News Source (12/20) :
https://www.bloomberg.com/news/articles/2020-12-09/a-huge-rally-in-food-prices-is-stoking-record-fertilizer-demand

[Chickensoup]

I assure you wwii was a bigger toll