Britain Headed For Another Recession

[JStone]

Economy watch: Is Britain heading back into recession? | This is Money

 

[waltky]

Europe slidin' into double-dip recession...

Little sign of Europe's depression lifting
19 February 2013 - For several months European officials have been basking in the calm of the financial markets. They have fallen over themselves to declare the crisis over.

And then the news from the real economies intrudes. In the last quarter the European economies shrank at their fastest since 2009. In Italy, now in the final days of an election campaign, industrial output fell 6.7% last year. Europe, at this time, would merit the attentions of the US Depression-era author John Steinbeck.

It is worth reading an article by Kostas Tsapogas, the former foreign editor of the Greek paper Eleftherotypia. "We are fighting," he says, "to keep our dignity intact and avoid the depression that is enveloping the country." He describes Athens shrouded in wood smoke as people strip the forests, unable to afford heating fuel. "We are luckier," he writes, "than the people who are forced to live in their cars."

They apparently park at a different spot every few days hoping some stranger will offer them the use of a shower or a toilet. And then a report from the Catholic charity Caritas lands in the email inbox. It says that austerity measures are driving children across Europe into poverty, threatening to create "lost generations".

Three out of every 10 children in Greece, Ireland, Portugal, Italy and Spain, Caritas claims, have been pushed to the brink of poverty. I meet an economist in Turin who speaks of a young generation abandoning Italy for the new world, for the US, Canada and Australia. In Spain they reckon 300,000 graduates have left the country.

'Disaffection and rage'

 

[there4eyeM]

And with all their bank failures and failed austerity, they have the temerity to insult the French (no failed banks).

Sure, Europe is in trouble, as is the US. The refusal to see the world in new ways is condemning all of us to worse and worse conditions. Amazing, isn't it, that all the material aspects of earth that were here before the 'crisis' are still here. It is just the astronomical sums of virtual money that the 'too-big-to-failers' gambled away that changed anything. We collectively share to make up for that.

Ain't 'socialism' grand (for the major players, of course, not for the plebeians).

 

[Decus]

And with all their bank failures and failed austerity, they have the temerity to insult the French (no failed banks).

Sure, Europe is in trouble, as is the US. The refusal to see the world in new ways is condemning all of us to worse and worse conditions. Amazing, isn't it, that all the material aspects of earth that were here before the 'crisis' are still here. It is just the astronomical sums of virtual money that the 'too-big-to-failers' gambled away that changed anything. We collectively share to make up for that.

Ain't 'socialism' grand (for the major players, of course, not for the plebeians).

"The third such French bailout in the past year coincides with President Francois Hollande’s push for a European banking union and a common euro-area bank supervisor to break the link between lenders and governments.

The financial institutions being propped up by the French government have needed help even after they tapped ECB funds.

“If we had full banking union, the burden wouldn’t be only on French taxpayers,” Mint’s Blain said. “German and other taxpayers would contribute too.” "

France?s Quiet Bank Rescues Top $78 Billion With Peugeot - Bloomberg

France has always had a 'too big to fail' attitude regarding their banks, they are simply more discreet in these matters.

 

[there4eyeM]

And with all their bank failures and failed austerity, they have the temerity to insult the French (no failed banks).

Sure, Europe is in trouble, as is the US. The refusal to see the world in new ways is condemning all of us to worse and worse conditions. Amazing, isn't it, that all the material aspects of earth that were here before the 'crisis' are still here. It is just the astronomical sums of virtual money that the 'too-big-to-failers' gambled away that changed anything. We collectively share to make up for that.

Ain't 'socialism' grand (for the major players, of course, not for the plebeians).

"The third such French bailout in the past year coincides with President Francois Hollande’s push for a European banking union and a common euro-area bank supervisor to break the link between lenders and governments.

The financial institutions being propped up by the French government have needed help even after they tapped ECB funds.

“If we had full banking union, the burden wouldn’t be only on French taxpayers,” Mint’s Blain said. “German and other taxpayers would contribute too.” "

France?s Quiet Bank Rescues Top $78 Billion With Peugeot - Bloomberg

France has always had a 'too big to fail' attitude regarding their banks, they are simply more discreet in these matters.

True.

In this instance, it showed to be a better strategy than the British.

 

[Truthmatters]

big wins for the austerity camp huh?