Is the UK Heading For a Double Dip Recession ?

Just been perusing Yahoo, and came across a double whammy of less than favourable financial news.
Below is the first thing I found.

With consumers reining in their spending on all but essential purchases, the BRC said total sales in March were down 1.9% on a year ago in the biggest decline since the start of the trade body's monthly survey in 1995.

it goes on to say....

Retailers have issued a string of gloomy updates in recent weeks, with Mothercare, HMV and Currys and PC World parent Dixons Retail all warning on profits and others highlighting testing conditions.

Oh and...

Chains are feeling the pinch after household spending power suffered its first fall in 30 years as wages fail to keep up with uncomfortably high inflation.

There are other comments made such as the belief that Easter having been earlier last year is what has impacted poor sales for March this year, but they also refuted this as soon as making the point.

Another article talks about house price

A second survey released Tuesday reinforced the downbeat message, showing house prices in England and Wales fell in March, although at a slower pace than in February.

The Royal Institution of Chartered Surveyors (RICS) said 23 percent more surveyors reported a fall rather than a rise in property prices in March, compared with 26 percent in February.

There is a little more in the article, but not much, and this house price fall article is mixed in with the poor retail news, but overall this isn't a good sign.

I know a lot is mentioned on here about the American financial crisis, and I just wanted to highlight some of the problems we are facing over here too, and lets not forget that there are more than just two countries suffering from financial health problems, with Greece, Portugal, and others all having had to face their demons in recent times, ponder "Will the world ever be the same again ?" Although concurrently I believe that significant change is whats needed in order to generate a progressive society, of course I have none of the answers as to how that would ba acheived, but maybe some of you do ?

In the meantime, I sit and I wait hoping upon hope that we are not about to crash headlong back into recession, although I must point out, it was my belief that this was alway's the most likely scenario after all the austerity measures that have been brought in by our current serving government.

Be interested to hear your thoughts guys


uk.news.yahoo.com... 8.html



uk.news.yahoo.com... eports-slump-in-sales-6323e80.html

no
The US is so far down
the bottom of a depression looks like up...
what you got here is NOT a depression
what you git here
is a good old fashioned
FACEPLANT

the depression is the hole in the ground with a receding hair line, blank eye spaces, and a nose dent.


The UK is leading the pack down by the looks of things
so depression probably isn't quite adequate to describe the situation
FACEPLANT is looking up


The Lb acted as the reserve currency prior to the dollar becomeing such, so I think Britian is going to get hit even worse this time in the cycle

Originally posted by Danbones
no
The US is so far down
the bottom of a depression looks like up...
what you got here is NOT a depression
what you git here
is a good old fashioned
FACEPLANT

the depression is the hole in the ground with a receding hair line, blank eye spaces, and a nose dent.

You're going to wish that was true in six months time.

Dark days are coming, the recession hasn't even really begun yet.

How about the news today (almost completely uncovered by the mainstream media, got a brief "in passing" mention on CNN's "in the arena" this evening) that the largest bond purchasing broker in the world has just changed the US Government from a "Buy" to a "Sell".

On CNN, it was a mention in the vein of "oh, by the way, today the largest bond buyer in the world shorted our debt. In other news ........"

They are SHORTING US Government bonds, and it's barely gotten a mention in the press in the USA, or anywhere else in the world.

Of course, if it got out to the mainstream sheeple that US debt is being shorted, not bought, it might precipitate a market meltdown of the type that will make the 777 point drop in 2008 seem like they were barely trying.

Check my posts - I've been saying for at least two years now that we're heading for a much bigger crash than 2008, and it's about 18 months overdue, if TPTB are using the same playbook from 1929.

In the UK , people are buying via other means than the highstreet . Even the so-called middle classes are now buying "snide" goods , because who is gonna believe that they are wearing the real thing ?

Is this a return of the age of the "spivs" ?

The real financial news hardly ever gets a mention in the press, it's buried under who got booted off American Idol last night or which Dancing With The Stars no name is posing in Playboy magazine.

Well I know from my own experience working in retail, that the year before last when we were in a recession that we didn't happen to be as busy as we were last year, and up to this point this year thus far it feels pretty much the same as it did then, not looking forward to the whole face sinking thing I have to say lol

Well I'm glad I work in an industry that relies on the growing number of alchoholics ( my own shift included) , so I doubt I'll ever be out of work lol

reply to post by maskfan


Heh heh
when I said NO
I ment the US is PAST double dip..

I think the UK is just transitioning down faster at times slower at others...

What I wonder is when the euro crashes what happens to the Lb then?
I'm guessing no recovery

I'm a believer in silver gold and oil....
water food and shelter...
and a means of keeping same
I think it is going to get really tight in the not too distant future.

reply to post by gandalphthegrey


Love to know where I can get hold of some of this stuff, because I'm still buying mainstream

Oh and today as if I'm not feeling the pinch already I had to make £20 stretch to half a weeks worth of food at least, and even then it was a struggle .

Can't speak for the UK, being an American, however I can say that the threat of gas prices exceeding the 5 dollar mark has many Californians in a serious financial bind.

Some are saying that it is getting to a point where they are working simply to afford the drive to and from work everyday, there's something seriously wrong with that picture.

Of course this is all by design and since we live in an age where all markets are connected internationally, it would be safe to assume the worst is yet to come.

reply to post by Danbones


Perhaps I should invest in some Royal wedding memorabelia, it might just be more valuable as currency than the stuff that lies in my purse soon lol

reply to post by gandalphthegrey


With the way things are going business is about to become booming for you lol

Originally posted by solargeddon
reply to post by gandalphthegrey

 

With the way things are going business is about to become booming for you lol

Been booming for years lol .
If ever some foreign country wishes to take over us , all they have to do is supply us with enough booze and then we will become totally compliant lol

reply to post by solargeddon

stay away from the plate and the plastic and buy solid...

funny, that is probably not a bad idea
the wedding is probobably a small economy in itself...

reply to post by gandalphthegrey


Thankfully I haven't succumb to the temptation of liquid intoxication yet, although its unlikely I ever will, too damn expensive a habbit in the current climate lol

With the government spending money left,right and center on pointless things it would seem so.

reply to post by Danbones


Yeah call me skeptical, buts thats why I think it is happening in the first place, to generate income, and get those till's ringing!

I see through their cunning plan lol

Too the next dictator of the UK ( there has been many over the last few decades), can I please have the UK rights to Benny & Jerry's icecream ?

reply to post by gandalphthegrey


Nope being a woman, I think I should be first in line for that priviledge, my need is greater lol

Unless of course I can have rights over Chocolate, any chocolate I don't care, I'm a woman lol