December 19, 2010
Tracking the Global Recession
- slightly UK-centric but a neat timeline from 8 Feb 2007 (HSBC saves for loan losses) to 26 Jan 2010 (Britain comes out of recession). Lots of links to articles written as things were happening. (seriously....2007)
7 years ago
The recession really is over in the USofA; corporate profits are at an all time high... what nobody will tell you is that means those 12-15 million jobs lost will never come back because nobody NEEDS those workers anymore.
Way to cheer me up, guys!
Read all about it: "The recession is over". That may be a true statement, but what does it mean? Money.co.uk says,
"Britain comes out of the recession with a GDP growth of 1%"
A whole percent? That is great. Money.co.uk would not get a number wrong, eh?
"Figures from the Office for National Statistics (ONS) revealed... GDP growth of 0.1% in the final quarter of 2009."
Oh. That 1% is really just 0.1%? Only off by a factor of 10. Well it's better than nothing. Hurray! Hang on, how far had it dropped?
"The UK GDP is now 6% lower than it was at its peak in early 2008."
6 down and 1/10th up. Well, at least it's going up now. (If previous performance indicates future returns. It does, right?)
"...the figures will be revised by the ONS in the coming months as more data becomes available and could be reduced to 0% or less."
OK, put the champagne back on ice. Sorry BlueHorse.
Oh, well. I wasn't really hoping for a loan from you BritMonks anyway.
Notorious cheapskates that you are
Yeah - I don't live in the US anymore and I look at charts like
and I wonder just how bad it must be over there now.