Wednesday, April 27, 2011
GDP flatlines says Balls
Britain 'on the edge of a double dip recession'
“Excluding the impact of the snow in December, the preliminary GDP figures suggest that the economy has flatlined over the past six months, with no underlying growth in output since the third quarter,†John Hawksworth, chief economist at PricewaterhouseCoopers, said.
Posted by alan @ 12:57 PM (4088 views)
13 thoughts on “GDP flatlines says Balls”
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fubar says:
Turning Japanese, I think its turning Japanese, I really think so.
phils says:
Gideon has managed to choke off the recovery. Well done.
sibley's b'stard child says:
No sex, no drugs, no wine, no women?
Yup, sounds about right Fubar.
mark wadsworth says:
Recession, schmecession.
Far more interesting is the concept of “Depression” which is the period during which GDP is lower than the previous peak, we have been in this phase for a couple of years now, albeit things appear to be bottoming out.
Ubear says:
@1
Ironically the Japanese are actually doing much better than us, despite all their disasters, radiation permitting; read the Market Oracle article on Japan.
@2
Bigger cuts are needed, otherwise taxes will have to rise much higher, and that could do far more damage, by tipping far more people and businesses over the edge, until we lose it or the country defaults. QE driven gambling is not a recovery, it is a delaying tactic, and it is p’ing off the developing nations, so they are spending their QE’d fiat currency faster, buying real value.
@4
I doubt that we are in a Depression yet, confidence still seems too high, no “blood in the streets” seems possible yet, another Big Shock dip may be enough to tip us off the cliff, then judder to the bottom, with more fools recoveries along the way.
sibley's b'stard child says:
As an aside, I see Forex is predicting +0.3% for this Friday’s Nationwide report. Meh.
jack c says:
Sib’s what’s your personal thoughts on the Nationwide report? (I’m going with +0.4%)
I presume this is the report release? http://www.nationwide.co.uk/mediacentre/PressRelease_this.asp?ID=1716
rantnrave says:
I’m guessing Nationwide wont be out until next week and it will be marginally up – Spring Bounce, but also the end of the rush to beat the 5% stamp duty deadline.
sibley's b'stard child says:
Hi Jack, I wouldn’t even pretend to be any authority here; suffice it to say Forex aren’t normally too far out, I believe.
happy mondays says:
Your eyes are hazel And soft as clouds
I often kiss you when there’s no one else around 😉
the number cruncher says:
I’ve got your picture, I’ve got your picture …
mr g says:
The White Rose Centre in Leeds was packed today and most shops seemed to be doing good business, obviously the sheeple are trying to help the economy.
markj69 str05 says:
Payday, or surplus cash due to low interest payments on mortgages?