Biggest Recession since 1706

[Johnnyboxer]

We knew it was coming and didn’t think it would be this savage

Hope the bounce back is just as quick

Could be a bumpy ride, in the meantime


BoE modelling - can it be trusted though ?

Bank of England warns of deepest recession on record https://www.bbc.co.uk/news/business-52566030

 

[robs1]

Well if there record of predictions is anything to go by they will be miles out. Will we have a recession yes of course we will you cant shut most of a country down for 7 weeks and not expect to how deep depends on how quickly people go back to work, the media have driven many into fear and panic mode

 

[DrWazzock]

I keep saying it but I am sure the economy can be remoulded to suit circumstances. Yes some doors close but others open. Surely contact tracing, containment and quarantine could be big business and achieve a rapid payback for all concerned, providing employment in terms of direct manpower and also the tech required, while delivering real benefits to the country as a whole in terms of less burden on the health service, less time off sick and a shorter period of blanket restrictions.
Could hotels particularly near airports be remodelled as quarantine centres? Yes it’s maybe not ideal but better than nothing, provides work and keeps money circulating.

 

[Johnnyboxer]

I keep saying it but I am sure the economy can be remoulded to suit circumstances. Yes some doors close but others open. Surely contact tracing, containment and quarantine could be big business and achieve a rapid payback for all concerned, providing employment in terms of direct manpower and also the tech required, while delivering real benefits to the country as a whole in terms of less burden on the health service, less time off sick and a shorter period of blanket restrictions.
Could hotels particularly near airports be remodelled as quarantine centres? Yes it’s maybe not ideal but better than nothing, provides work and keeps money circulating.

Other countries already doing it, I still cannot believe you can fly into Heathrow from China today and you are completely unchecked

 

[som farmer]

Well if there record of predictions is anything to go by they will be miles out. Will we have a recession yes of course we will you cant shut most of a country down for 7 weeks and not expect to how deep depends on how quickly people go back to work, the media have driven many into fear and panic mode

the guv has had a hard job, balancing health v wealth, both massively important, we need wealth to pay for health, and in all fairness, they have put huge amounts of cash into the economy, by injecting this money into businesses, they are hoping it will circulate around, and if spent, should be very good news, but as sure as eggs are eggs, there is going to be a global recession, this recession, is going to differ to the last, unemployment will quickly rise, guv will have already spent its money, trying to avoid one, and ours, may be less, than others. Unemployment has been high throughout Europe, already, how it will cope with more, esp spain, they had 25% of unemployed youth already. That's Europe, there's the rest of the world as well, what the position in Africa is, s America, the east, we don't know, but for many countries, another term of austerity, is not an option, their people will not stand for it, very uncertain times, and dangerous times, are rapidly approaching, and I hope, theirs a plan for that !

 

[som farmer]

I keep saying it but I am sure the economy can be remoulded to suit circumstances. Yes some doors close but others open. Surely contact tracing, containment and quarantine could be big business and achieve a rapid payback for all concerned, providing employment in terms of direct manpower and also the tech required, while delivering real benefits to the country as a whole in terms of less burden on the health service, less time off sick and a shorter period of blanket restrictions.
Could hotels particularly near airports be remodelled as quarantine centres? Yes it’s maybe not ideal but better than nothing, provides work and keeps money circulating.

contact tracing ap, the 'civil liberties 'and human rights brigade are going mental, about rights being violated, ffs what planet are they on, don't they think people would like to know, if they are at risk ? i know i would.

 

[Ashtree]

Glad now I put e few extra drills of tatties and veggies in this year.

 

[som farmer]

Glad now I put e few extra drills of tatties and veggies in this year.

could well be wanted, if people can't go abroad, for holidays, which is looking likely, how much extra cash, will stay in the UK, albeit, foreign tourists wont come here either, your spuds might be wanted for fish (uk fish) and chips at the sea side !!!!!!

 

[Exfarmer]

There is going to be an awful shock , when furlough ends and three redundancy nortices start being handed out

 

[Johnnyboxer]

There is going to be an awful shock , when furlough ends and three redundancy nortices start being handed out

That was my thoughts too
Furlough is just but a sticking plaster
Jobless could rise to 5m and then there would be discontent

 

[hel123]

They are two busy enjoying their furlough pay rise at the moment and posting on Facebook that it's to soon to do anything.

We can't hide for ever I'm afraid

 

[Johnnyboxer]

They are two busy enjoying their furlough pay rise at the moment and posting on Facebook that it's to soon to do anything.

We can't hide for ever I'm afraid

Correct, when it comes home to roost in June there will be some unhappy workers

 

[Brisel]

Well if there record of predictions is anything to go by they will be miles out. Will we have a recession yes of course we will you cant shut most of a country down for 7 weeks and not expect to how deep depends on how quickly people go back to work, the media have driven many into fear and panic mode

Economic growth, especially in the net worth of the City, is partly down to confidence. There are businesses folding daily that just can't hang on with bills still coming in & no income. Travel and airlines will never recover fully - Virgin won't rehire the 3,000 they are about to lay off even if Branson gets a decent price for Necker Island. With 25% of the workforce furloughed there will be less cash to splash even if there's a major national pee up when we're allowed back into the pubs & sports restart. There will be a surge of consumer spending from the majority who are still in jobs so I think the spike in the graph by the BOE is a guide.

CV19 has just triggered the return swing of the pendulum of the economic cycle. I've no idea how far back into recession it will swing nor do any other experts.

 

[som farmer]

strange times we live in, nothing is going to be the same after this, somethings might be better, and some worse, nobody knows, but I do think, a bit of a 'reset' was needed, perhaps this might happen.

 

[czechmate]

There is going to be an awful shock , when furlough ends and three redundancy nortices start being handed out

Will employers be able to afford the redundancies? Probably bankrupt a lotz

 

[hel123]

I would imagine there will be a lot prepacking their company over this ?

 

[DrWazzock]

A reset was needed anyway. Problem is nobody told the public.

 

[tw15]

Forget recession it is heading into a major depression world wide . They in power know better than us lot I would think , They will gently break the news to the general public as not to cause upset just like they have done over corvid19 . If in jan /feb they had shut it all down at once there would of been panic . Yes it would of saved a lot of lives as well but that is hindsight for you .
In realality the whole word economies were over cooking and it would of been just a matter of time until it all went pop anyhow .

 

[Northeastfarmer]

Other countries already doing it, I still cannot believe you can fly into Heathrow from China today and you are completely unchecked

I can quite believe it

 

[gone up the hill]

That was my thoughts too
Furlough is just but a sticking plaster
Jobless could rise to 5m and then there would be discontent

More like 10 million unemployed.

And a depression worse than the 1930's.

The above will happen unless Boris gets a backbone and comes to his senses and realizes he cannot lock down the UK for years on end just in case there is a second wave ( which is his current plan )