Posted on 01/01/2013 11:11:56 AM PST by Olog-hai
There is a 50/50 chance that Britain will slide into a devastating triple-dip recession this year, leading economists warn today.
Output “probably” fell in the final three months of 2012 and could do so again in the first three months of 2013, said the Center for Economics and Business Research.
Another two quarters of decline in a row would mean the third recession in five years and set the scene for another bleak year.
The think-tank singled out the crisis in the eurozone as “a major challenge for the UK economy”, given it is Britain’s biggest trading partner. …
(Excerpt) Read more at dailymail.co.uk ...
Depressions are extra-long recessions where deflation sets in as well as colossal devaluation of currency, or at least that’s how it appears. Panics too are part of depressions.
Depressions are extra-long recessions where deflation sets in as well as colossal devaluation of currency, or at least that’s how it appears. Panics too are part of depressions.
I think the definition is a contraction of 2% or more in a quarter.
Triple dip? Maybe it is just that Keynesian money-printing, because it destroys the essential information about the time-value of money, actually works exactly in the opposite way it advocates theorize. Maybe Keynesian “stimulus” is actually a depressant of risk-taking. By forcing interest rates far lower than they normally would be, the policy certainly destroys investment and investment income that so many retired people rely on to live.
In fact, I have come to see Keynesian stimulus as embezzlement of private wealth by dilution and fraud.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.