Posted on 10/05/2009 11:30:18 PM PDT by underthestreetlite
The head of Britain's biggest bank has warned we could soon be heading into a second recession.
Michael Geoghegan of HSBC said he had delayed expansion plans because he fears the upturn could be short lived.
The chief executive said the economy could follow a W-shaped trajectory, with the rebound going into reverse and growth retreating into the red.
'Is this a V recovery or a W?' he said in an interview with the Financial Times. 'It's the latter.'
Mr Geoghegan's words carry weight because of the global reach of his bank and its track record on identifying economic turning points.
In February 2007, HSBC was one of the first financial giants to warn of the impact of the sub-prime crisis in the U.S., when it wrote off £6.5billion. The intervention will fuel the debate between Labour and the Conservatives over when to slash public spending and hike taxes.
(Excerpt) Read more at dailymail.co.uk ...
What about an A shaped recovery? Or a Q shaped recovery?
What if recoveries took on the shapes of windows wingdings, boy we would be screwed...
Dang! I don’t have my first stimulus check yet.
"Economic Recovery" in wingdings
When did the first recession supposedly end? Go visit Elkhart, Indiana or Irvine, California (or 5,000 other towns) and then tell me we’re out of the Great Dear Leader-inspired Depression.
Well, kinda obvious, no splurging is going to happen until their are tax cuts for the rich in America.
Democrats are revolting manufacturing investors to places they wouldn’t normally go, and as they get comfortable in third world countries, they’ll never come back
Those who thought they could keep spending are thinking twice
Those who kept spending are realizing their mistake
Those who had money they spent are broke
What if it’s an M-shaped “recovery”?
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