In These New Times

A new paradigm for a post-imperial world

Triple-dip recession, here we come

Posted by seumasach on January 5, 2013

The great British crisis hasn’t really even begun. The great Euro scare has enabled the pound to increase its overvaluation over the last couple of years and, therefore, allowed the free lunch to run on. We continue to run a permanent current account deficit financed by a fiat currency, a fiat currency which is being quantitatively eased. This little noted anomaly is unsustainable and the day of reckoning is nigh.

Guardian

4th January, 2012

Triple dip here we come. That’s the clear message from the latest health check on the services sector from CIPS and Markit. To say the report was a disappointment is an understatement. News that activity fell for the first time since December 2010, when Britain was shivering under a foot of snow, came as a real jolt after the slightly better news from manufacturing earlier in the week.

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