Reseller insolvencies are predicted to remain at record highs during the December quarter as the UK economy hangs on the edge of a second recession. As exclusively revealed by El Reg in the summer, Graydon stats showed that 175 channel firms went to the wall in the first half of 2011, up 43 per cent on a year earlier, reaching …
People who don't know ANYTHING about reality...
Some dude's citation:
"The UK is teetering on the edge of a double dip and I think we will fall into a second recession."
A double dip, with onions and everything? How about fries with that?
There is no "second recession". It's the same recession as previously, which was papered-over for a time limited by frantic money creation, "stimulus" packages and quite probably "enhanced" GDP stats. Also, excuses were given like the royal wedding causing slowdown (but note that the Lybian War apparently was a-ok)
The illusion is made perfect through shitty commentary by people who have never in their whole life thought about cause-consequence effects like Keynesians and that NYT blogger Krugman.
^ This has killed the thread anything else will be up-votes or delusional crap.
...Now I want nachos.
People who don't understand the meaning of words
The technical definition of a recession is two consecutive quarters of negative growth. We had lots of quarters of negative growth a few years back, totalling something like -8%. Since then we have had positive growth of somewhere in the region of 0.1% to 0.2% per quarter. That means that the economy is basically the same now as it was back in 2009 and things are no longer getting worse. According to the technical definition, we are out of recession. Being "out of recession" does mean we are back where we were before the recession started. If there is a double dip recession, that means things will get even worse than they are at the moment.
as someone not from the UK
Why would consumer spending be low? From what I've heard/read the UK has one of the best social security nets, the dole. So even if you don't have a job or are in danger of losing a job, you'd still have money to spend. And not have to fret too much before spending.