Thread:Comments:United Kingdom economy triple dip recession 'to be avoided' says British Chambers of Commerce/No recovery

There has been no global economic "recovery" in that nothing has really recovered.

In Europe, Britain is now skirting a "tripple-dip recession"; France just entered another recession in Q1 of 2013. In addition to recent recessions, there is also no shortage of macroeconomic ills facing Europe. Youth unemployment in Spain in at over 50%, meaning that there will be few taxpayers not only in this decade, but in the decades to come- not nearly enough income to support a welfare state. Ireland has a debt to GDP ratio of over 1100%. As for Italy and Greece...

The US is also preforming poorly. There have been only three quarters since the economic crisis where GDP growth has surpassed 3%. In five years. In addition, unemployment may have improved, but this is simply because the unemployed have left the labor force, not because of any sort of "recovery." In fact, America's real (U-6) unemployment rate is over 13%. The nation is also in a liquidity trap: loose monetary policy cannot help the economy recover. Keynsian stimulus attempts have also been poorly designed and implemented.

I honestly do fear for the global economy.

-Adm