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Black Tuesday as FTSE plummets, bank shares tumble and Britain faces recession ‘within months’

Becky Barrow, Niall Firth and Nicola Boden
UK Daily Mail
Tuesday, July 8, 2008

Britain was facing a deepening economic crisis today as the FTSE plunged into a so-called ‘bear market’ for the first time in five years and a series of reports laid bare the full extent of the problems facing the nation’s economy.

In a Black Tuesday for the stock market, shares fell across the board while a gloomy new report warned that a recession could be on its way within a matter of months.

A separate report from accountants KPMG shows the number of permanent job vacancies fell in June for the first time in five years.

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In its report, the British Chambers of Commerce describes Britain’s economic outlook as ‘grim’ and warns the UK could slide into a recession within months.

It says it has uncovered evidence of a ‘menacing deterioration’ in the economic outlook.

In further bad news for the economy, shares in struggling bank Bradford and Bingley plunged 25 per cent to just 30p at one stage this morning.

Full article here

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One Response to “Black Tuesday as FTSE plummets, bank shares tumble and Britain faces recession ‘within months’”

  1. ECTOENDOMEZO Says:
    July 9th, 2008 at 8:42 am

    IT’S EXPENSIVE TO RUN A NATION AS A PRISON..AMERICA AND THE U.K. ARE FINDING THIS OUT “THE HARD WAY”

    THIS IS ALSO A GREAT..GOLDEN..MOMENT FOR RESISTANCE..BECAUSE BUDGETS..ESPECIALLY SECURITY STATE..SURVEILLANCE..POLICE THUG TACTICS..ALL EXPENSIVE..ARE BASED..THESE DAY’S..ON A COMBINATION OF “HYSTERIA” AND THE OLD STYLE “REPORTING” SUCH AS THE ARTICLE ABOVE MENTIONS..

    BECAUSE THE “HYSTERIA” PORTION OF THE BUDGETING PROCESS IS NEW..RELATIVELY…THE OLD PORTION..’REPORTING’ CAN HAVE MORE OR LESS POWER TO INFLUENCE BUDGETS WHEN TIMES GET LEAN..

    SO..TO UTILIZE THIS SCENARIO..STOP PAYING TAXES..NOW!…IN OTHER WORDS…HELP! DO ALL YOU CAN!…BUT NOT IN THE TRADITONAL WAY…NO! NOW..YOU MUST “DO YOUR PART” TO REDUCE..REDUCE..REDUCE..THE AMOUNT OF DISPOSABLE BILLIONS AVAILABLE FOR “HYSTERIA” AND ALLOW GOOD OL FASHION “REPORTING” TO TAKE OVER AND…HERE IS THE PUNCHLINE…

    …SHOW JUST HOW UNAFFORDABLE..DOWN RIGHT WASTEFUL..AND ABSOLUTELY TOO EXPENSIVE ON A COSTS VERSUS RESULTS BOTTOM LINE BASIS..THE RUNNING OF A NATION AS A PRISON…IS…YOU DIG?

    SEE..WITHOUT THE MONEY..OR WITH JUST ENOUGH TO DO THE BASIC STUFF THAT EVEN THE FASCIST THUGS THEMSELVES CANNOT DO WITHOUT..OR..ARE WILLING TO SACRIFICE THE FUN OF BEING A BULLY WITH A BADGE TO OBTAIN..AKA WATER..SEWER…MEDICAL..ALL THOSE VITAL SERVICES THAT ARE WORTH THE MONEY…AND LEAVES “THE SECURITY STATE” TO LANGUISH IN A WASTELAND OF NO FUNDING…WHEN TIMES GET TOUGH..AND IT’S BASIC SERVICES V. AN HYSTERICAL AND NOT REALLY BELIEVED BY MOST..’THREAT FROM WITHOUT’ AND IT’S HUGE COSTS…HUP! IT’S GOING TO BE “BASIC SERVICES” THAT WIN OUT EVERY TIME..BECASUE THEY HAVE FOR GENERATIONS..BASICALLY..PERFORMED ON A BOTTOM LINE BASIS…

    HARD TIMES…CAN..PUT PEOPLE INTO A …MORE “SANE” MOOD..WHEN FACED WITH..”WELL HONEY..SHOULD WE SUPPORT THE LOCAL BUS LINE? OR THE 5 CAMERAS ON THE POLE OUTSIDE?”..AGAIN..YOU DIG?

    SO…”DO YOUR PART!”….TO REDUCE THE AMOUNT OF MONEY THAT THESE GOVERNMENTS HAVE TO FINANCE THE SURVIELLANCE SOCIETY..THE THUGS..ETC..

    SEE..EVEN NAZI GERMANY HAD HE ONE THING REQUIRED TO ALLOW FOR POLITICAL HYSTERIA……GOOD TIMES..! PERIOD! TIMES WERE GOOD..LOT’S OF JOBS..LOT’S OF MONEY..FOR TANKS..AND…GESTAPO….AND S.S. AND………..AUSHWITZ…!

    SO..WAKE UP FOLKS! STOP SENDING IN THE MONEY..NOW! STRIKE WHILE THE IRON SHE IS A-COOKING..PLEASE..I AM BEGGING YOU..NOW IS THE TIME..MAKE THEM MAKE THE TOUGH CHOICES…THEY WILL PICK BASIC SERVICES EVERY TIME…FOR THAT IS THE ONE THING THAT WAKES UP A NATION OF SLEEPERS…THE SUDDEN REMOVAL OF BASIC SERVICES..LOOK AT AMERICA AND GASOLINE…PEOLE ARE…DUHHH..SUDDENLY LIKE…”OH..WOW!..WAIT A MINUTE…? WHA THE HELL?”

    LIVE FREE OR DIE! OR RATIONALIZE YOUR FINACIAL SUPPORT OF THOSE STEALING YOUR RIGHTS..THE CHOICE..IS ACTUALLY….STILL YOURS..

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