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steve2470

(37,457 posts) Mon Apr 22, 2013, 08:22 PM Apr 2013

U.K. may have slipped into a third recession

http://money.cnn.com/2013/04/22/news/economy/uk-economy-recession/

The coldest March in 50 years may have tipped the ailing U.K. economy into a third recession since the financial crisis, a result that will increase the pressure on the government to relax its policy of austerity.

Most economists expect the world's sixth-largest economy to narrowly avoid a second consecutive quarter of contraction when the first estimate of first-quarter output is released on Thursday. But the chances of a surprise are high.

The U.K.'s gross domestic product fell by 0.3% in the final quarter of 2012. A triple-dip recession would be unprecedented, and pile pressure on finance minister George Osborne to spread the pain of government spending cuts over a longer period of time.

UBS economist Amit Kara said he expected U.K. GDP to show zero growth, but cautioned that the cold weather could spring a shock and send the economy into reverse again.

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U.K. may have slipped into a third recession (Original Post) steve2470 Apr 2013 OP

Until "commoners" have money in their pockets to spend, it will never end SoCalDem Apr 2013 #1

I agree. Any UK DU'ers wish to comment about this ? steve2470 Apr 2013 #2

I guess that austerity isn't all it's cracked up to be, is it Mr. Cameron? marmar Apr 2013 #3

at what point will they give up on woo and go back to keynesian basics? HereSince1628 Apr 2013 #5

hope Cameron gives up on austerity asap, not gonna hold my breath though sadly nt steve2470 Apr 2013 #6

bump for UK DU'ers nt steve2470 Apr 2013 #4

A dog learns from experience, but not Tories byeya Apr 2013 #7

SoCalDem

(103,856 posts)

1. Until "commoners" have money in their pockets to spend, it will never end

Reply to steve2470 (Original post)

Mon Apr 22, 2013, 08:38 PM

Apr 2013

Rich folks can write each other IOUs 'til .....forever, but nothing changes until the masses start to spend again.. They cannot spend if they are broke..

It's not rocket science

The Richie Riches out there thought they could whittle away beneath them, and still manage to sell their wares..

They claim to love capitalism, but somehow forgot that there have to be consumers..lots of them for it to keep working...