UK Back in Recession, Did it Really Ever Leave? Disappointing Details; Five Reasons the UK Recession Will Get Much Worse
aaand ... cue AtW :
Five Reasons the UK Recession Will Get Much Worse
1. The eurozone is now an economic disaster, credit stress has returned to Spain and Italy
2. The ECB abandoned the LTRO and is in the midst of huge infighting
3. UK services took a huge hit and that trend will strengthen
4. The Eurozone is the UK's largest trading partner and there is no reason for UK exports to the eurozone to rise. In fact, UK exports to the Eurozone, just may collapse.
5. The better than expected (but still feeble construction numbers) will likely disappoint to the downside soon enough, if not immediately.
If you thought the euro would help Europe, you thought wrong. The Euro made a disaster in Spain, Portugal, Ireland, Greece, and Italy. It's time to abandon that failed idea.
1. The eurozone is now an economic disaster, credit stress has returned to Spain and Italy
2. The ECB abandoned the LTRO and is in the midst of huge infighting
3. UK services took a huge hit and that trend will strengthen
4. The Eurozone is the UK's largest trading partner and there is no reason for UK exports to the eurozone to rise. In fact, UK exports to the Eurozone, just may collapse.
5. The better than expected (but still feeble construction numbers) will likely disappoint to the downside soon enough, if not immediately.
If you thought the euro would help Europe, you thought wrong. The Euro made a disaster in Spain, Portugal, Ireland, Greece, and Italy. It's time to abandon that failed idea.
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