Five Reasons the UK Recession Will Get Much Worse

[AtW]

It may be a financial disaster but not an economic one. The countries in the Eurozone would have been much worse with their own national currencies.

It really cracks me up to see such posts.

You don't know tulip because you've never lived in a country who had tulip currency that can go down massively against reserve currencies (euro is one) in which most goods (food, fuel, etc) are priced.

I did witness that first hand which is why (plus a few brain cells necessary to make simple calculations) I say categorically that countries that are now in euro and would have dropped out of it (or had their own currencies) would be totally and utterly fooked.

They'd be fooked because their currencies would drop 4-5 times against USD/EUR, and costs of fuel/food would be crazy high - nobody would lend them after default and they'd have inflation that would make Sir Merv new saint.

[petergriffin]

1. The eurozone is now an economic disaster, credit stress has returned to Spain and Italy

It may be a financial disaster but not an economic one. The countries in the Eurozone would have been much worse with their own national currencies. But the Euro is not equipped to resist the severe credit crunch.

If you thought the euro would help Europe, you thought wrong. The Euro made a disaster in Spain, Portugal, Ireland, Greece, and Italy. It's time to abandon that failed idea.

UK has more external debt to GDP ratio than Greece, Italy, Spain or Portugal:
World Debt Clocks

Only Ireland is properly fcuked up.

[BrilloPad]

and then house prices will rocket and I can offload the last one of my tiresome rental properties without taking a loss?

Once QE seeps out the price of everthing will rocket. IMO....

[Diver]

1, 2 and 4 are the same reason. 3 is wrong. 5 is subject to review (no-one believes the construction numbers since the measure was changed) but will not have a big impact.

When the EURO explodes I think it will be good for Europe and UK.

In summary I believe we will flatline for another 5 years.

and then house prices will rocket and I can offload the last one of my tiresome rental properties without taking a loss?

[OwlHoot]

When the EURO explodes I think it will be good for Europe and UK.

In summary I believe we will flatline for another 5 years.

WHS * 2

[BrilloPad]

I'll use my own search engine and will get back to you once I found appropriate answer...

Does your search engine take that long?

[BrilloPad]

Five Reasons the UK Recession Will Get Much Worse

1. The eurozone is now an economic disaster, credit stress has returned to Spain and Italy

2. The ECB abandoned the LTRO and is in the midst of huge infighting

3. UK services took a huge hit and that trend will strengthen

4. The Eurozone is the UK's largest trading partner and there is no reason for UK exports to the eurozone to rise. In fact, UK exports to the Eurozone, just may collapse.

5. The better than expected (but still feeble construction numbers) will likely disappoint to the downside soon enough, if not immediately.

If you thought the euro would help Europe, you thought wrong. The Euro made a disaster in Spain, Portugal, Ireland, Greece, and Italy. It's time to abandon that failed idea.

1, 2 and 4 are the same reason. 3 is wrong. 5 is subject to review (no-one believes the construction numbers since the measure was changed) but will not have a big impact.

When the EURO explodes I think it will be good for Europe and UK.

In summary I believe we will flatline for another 5 years.

[Diver]

I'll use my own search engine and will get back to you once I found appropriate answer...

[AtW]

I'll use my own search engine and will get back to you once I found appropriate answer...

[Diver]

UK Back in Recession, Did it Really Ever Leave? Disappointing Details; Five Reasons the UK Recession Will Get Much Worse



aaand ... cue AtW :

He has to google a suitable response

[OwlHoot]

UK Back in Recession, Did it Really Ever Leave? Disappointing Details; Five Reasons the UK Recession Will Get Much Worse

Five Reasons the UK Recession Will Get Much Worse

1. The eurozone is now an economic disaster, credit stress has returned to Spain and Italy

2. The ECB abandoned the LTRO and is in the midst of huge infighting

3. UK services took a huge hit and that trend will strengthen

4. The Eurozone is the UK's largest trading partner and there is no reason for UK exports to the eurozone to rise. In fact, UK exports to the Eurozone, just may collapse.

5. The better than expected (but still feeble construction numbers) will likely disappoint to the downside soon enough, if not immediately.

If you thought the euro would help Europe, you thought wrong. The Euro made a disaster in Spain, Portugal, Ireland, Greece, and Italy. It's time to abandon that failed idea.

aaand ... cue AtW :