UK economy
Another result from socialist thinking -- from the UK
Telegraph:
UK heads for triple dip as GDP contracts 0.3pc
The official figures were the fourth quarter of negative growth in the last five and mean that the UK flatlined for last year as a whole � posting zero growth.
The economy is smaller than it was in September 2011 and still 3.3pc below its pre-crisis peak.
More:
At the start of 2013 one-off factors, such as January's snow, may push the economy into an unprecedented triple-dip recession, with major retailer John Lewis already warning on Friday that snow had hit sales growth.
Sir Mervyn King, the Bank of England Governnor, expects no more than a "gentle recovery" this year, while this week the International Monetary Fund cut its 2013 forecast for British economic growth to 1pc from 1.1pc predicted in October.
However, even such lacklustre growth could be derailed, as some analysts and business groups warn, by a hit to firms' and consumers' confidence from talk of a triple-dip recession.
Those poor sods -- God rest their souls -- will not know what hits them in the next couple of months. We are due for our double-dip in about six to eight months.
Time to husband ones resources and develop "trade goods" whose value is not based on fiat currency. We have been flying high on
other people's money since the late 1960's and the butcher's bill is coming due.
Posted by DaveH at January 25, 2013 11:14 PM