World stock markets plunge as fears of recession intensify

harvey007

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Thu Aug-18-11 12:45 PM
Original message

World stock markets plunge as fears of recession intensify

Source: London Guardian

Fears that the UK economy could slide back into recession intensified after news that retail sales grew by just 0.2% last month, and by 0.1% in the last three months. The latest UK labour market data also painted a worsening picture, with unemployment rising sharply, especially among women and young people. The grim global outlook and turmoil in financial markets prompted the Bank of England's monetary policy committee to discuss a fresh round of quantitative easing at its meeting a fortnight ago, and its two most hawkish members abandoned their calls for higher interest rates to curb inflation.

Read more: http://www.guardian.co.uk/business/2011/aug/18/world-stock-markets-plunge-as-fears-of-recession-intensify

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Harmony Blue

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Thu Aug-18-11 12:46 PM
Response to Original message

1. Newsflash: We are already in a recession

:wtf:

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ananda

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Thu Aug-18-11 12:56 PM
Response to Reply #1

4. More like a depression...

... but people are afraid to say it or to admit
or show how bad it really is.

Unemploymentis actually at least 20% for example.

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no_hypocrisy

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Thu Aug-18-11 12:52 PM
Response to Original message

2. Ironic. One percent has most of the money they took from us and

there's no place to put it without it losing its value.

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Turbineguy

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Thu Aug-18-11 12:54 PM
Response to Reply #2

3. They'll have to take more to compensate.

Taxes would have been cheaper.

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jwirr

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Thu Aug-18-11 01:07 PM
Response to Original message

5. I'm thinking that we all need a little reminder from FDR - all we have

to fear is fear itself. When he said that I don't think he was telling us not to be afraid. Instead he was telling us not let fear run us - that is make bad decisions. I think that goes for the whole world.

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russspeakeasy

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Thu Aug-18-11 01:27 PM
Response to Original message

6. This looks a little like the old pump and dump in reverse...

:evilgrin:

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pscot

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Thu Aug-18-11 02:27 PM
Response to Original message

7. Gold is at $1827/oz

Oil is bumping against $80.

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