Britain is in some rough shape. They absolutely obliterated the economy there.
The YoY GDP rate was -6.1% for the first quarter.
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Britain is in some rough shape. They absolutely obliterated the economy there.
The YoY GDP rate was -6.1% for the first quarter.
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I thought only India had negative GDP. Is this due to Covid-19? There are reports of a new variant and subsequently, the third wave is expected to happen.
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In Britain, they are still making life very tough for businesses there. Their economy is dropping like a brick. A 6% drop year over year is huge. Considering that 2%-3% growth these days is viewed as good, it will take them a few years to make it up if they stop going backwards right now.
That doesnt appear to be the case.
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They are going backwards indeed. I think the global crash is coming too and it's going to get even worse.
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Yes I think we are not going to see economic expansion for too long. I think the economy is going to drift downward the second half of the year. It isnt going to make for a comfortable situation.
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I think almost every country was hit and it depends on what the governments did to see how long lasting the effects were. For example the US is probably contracting but it was improving because they put a bunch of programs out there.
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Big drop off in 2020, nice bounce off the lows.
However, still below where we were pre-covid and I dont think the rosy eyes of expansion are going to be rewarded.
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Well the expansion is going to die because the eviction moratorium and unemployment will be going away soon. At least it will mean a lot less discretionary spending by people.
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Well the lockdowns didn't hurt. From what I see in the data, their GDP shows no signs of improving and it keeps decreasing. At some point, I do think it will reverse but how long do you think that will take?
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For Great Britain? Years. They are really sabotaging their economy over there. Fortunately for them, they are not at the mercy of the EU. Unfortunately for them, Johnson turned out to be a fool.
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