Thread: <Brexit>
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Old 08-22-2019, 01:07 AM
Jimjam Jimjam is online now
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Join Date: Jul 2013
Posts: 11,320
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Oh global recession is starting to happen anyway

As Bloomberg summed things up:

Quote:
China reported the weakest growth in industrial output since 2002. Germany’s economy shrank as exports slumped, and euro-area production plunged the most in more than three years as the overall expansion cooled.
and

Quote:
In response to Wednesday’s buffet of bad news, the alarm got a bit louder. Yields on 10-year Treasuries fell below those on two-year Treasuries, which basically means that the yield curve is now, officially, extra super-duper uber-inverted.
I believe Germany is recently one month away from recession.

I don't think people of the UK seem to care; the country has been out of recession for years but the workers don't see the benefit of it, still working extra hours. One person fills what previously was the roles of several (and at lower wage), continued government austerity to repay the bank bail out and so on.

All returns to and increases in profit have gone to investors. The recovery of the last recession has almost no trickle down and any increases to employment are through zero hour contracts where staff can't be guaranteed reliable work from week to week. Such variable hours of employment really screws up the ease of claiming work related government benefits.

So yea, we're approaching a new recession, globally.