We’re On The Brink of A Major Worldwide Catastrophe: UK Heads For Unprecedented Triple-Dip-Recession While EZ Economy Still Shrinking, Greek Eurozone Exit Still Likely, Angela Merkel Suffers Major Setback, Spain’s Ruling Party Hit by Major Corruption Scandal, Japan-China-US War Imminent, Debt to GDP Ratios All Over The Planet Continue To Skyrocket…
January 21st, 2013
‘Blame The Weather’ As UK Heads For Unprecedented Triple-Dip-Recession
How many ‘dips’ before a recession cycle becomes a depression structure? That is likely the question on Carney’s mind as he enters his role as top man at the BoE shortly. As The Guardian reports, an unprecedented third slump in four years looms for the UK as shoppers stay at home and vital transport links grind to a halt amid paralyzing weather. As snow blankets much of the nation, it would appear the next round of central bank easing will be to print ‘sunshine’. A series of economic releases – including weak trade data, downbeat business surveys and dreary retail sales – have fueled concerns that official figures out this week will show that output fell in the final quarter of last year. Now analysts fear a cold snap in January could lead to another quarter of contraction in Q1. The snow, bitter cold and harsh easterly winds continue to cause widespread disruption to travel by air, road and rail. “Clearly, the longer that the snow and ice lasts, the greater will be the negative impact on the economy,” IHS’ Archer added, though we are sure we will hear of the ’broken icicle fallacy’ soon enough.
ECB’s Praet Says Euro Zone Economy Still Shrinking
Deflation’s not over. It’s barely begun.
(Reuters) – European Central Bank Executive Board member Peter Praet warned Europe’s economy was still shrinking, making it necessary for euro zonestates to continue their reforms, and he dismissed fears low interest rates could spur higher inflation inGermany.
GDP for Q4? Be prepared to get that sinking feeling on Friday
Greek eurozone exit still likely despite European leaders resolve, warn economists