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Money economy collapses at record speed - "century recession"

12:15  30 july  2020
12:15  30 july  2020 Source:   de.reuters.com

UK nosedives into recession after GDP plunges 20.4% between April and June

  UK nosedives into recession after GDP plunges 20.4% between April and June The Office for National Statistics said the economy bounced back by 8.7% in June as lockdown restrictions eased. The ONS said the economy is still a long way off from recovering the record falls seen in March and April after tumbling into “the largest recession on record”.The grim second quarter figures showed the UK suffered the biggest economic hit from the pandemic in western Europe, even beating Spain’s eye-watering 18.5% drop. © Provided by PA Media (PA Graphics) Chancellor Rishi Sunak said that the ONS figures “confirm that hard times are here”.

A recession is a decline in economic activity for a period of at least half a year. Every part of the human inhabitable world has experienced a recession at a point of history. Compared to the underdeveloped and developing countries, the developed nations usually fall into definitive # recession .

We're in the middle of a once-in-a- century recession and pandemic and the number of people that can fuck off and die to prevent someone somewhere from maybe possibly staying unemployed for a couple weeks longer than they might have otherwise been able to is apparently hundreds of thousands.

FTSE bounces as traders shrug off confirmation of recession .
The FTSE 100 closed 125.78 points higher at 6,280.12 at the end of trading on Wednesday. Connor Campbell, financial analyst at Spreadex, said: “You wouldn’t think the FTSE had just been dealt the UK’s worst GDP reading on record, officially plunging the country back into a recession 11 years after the financial crisis.“The UK index outstripped its peers and then some on Wednesday. That’s the FTSE’s best price for over three weeks and leaves it less than 100 points off a fresh two-month peak.”News that the US has bought 100 million doses of Moderna’s potential Covid-19 treatment for 1.5 billion dollars (£1.

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This is interesting!