Britain on brink of recession as economy shrinks by 0.5% – the worst figures for 18 years

Nicola Boden and Sam Fleming
UK Daily Mail
Friday, Oct 24, 2008

Britain is officially on the brink of recession after new figures revealed the economy has shrunk for the first time in 16 years.

Output dropped by 0.5 per cent between July and September in its biggest decline since the end of 1990 when the country was emerging from the last downturn.

The scale of the slowdown astonished economists who had predicted a reduction of less than half that at 0.2 per cent.

It means the UK is almost certain to be in a technical recession, classed as two quarters of negative growth, by the end of the year.

Shares plunged again after the data was released, having already shed more than five per cent in early trading amid warnings the downturn could be the worst for 50 years.

(Article continues below)

The FTSE-100 dropped to be almost nine per cent down. The pound also fell to a new low of $1.55 due to speculation rates will have to be slashed more than expected.

There were also huge losses in Asia overnight as fears of a global recession intensified.
HSBC and Standard Chartered were among the worst affected stocks in the UK today because of their heavy involvement in emerging markets.

The last time the economy shrank was back when Tory Prime Minister John Major was in power and before the Black Wednesday plunge.

Full article here

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5 Responses to “Britain on brink of recession as economy shrinks by 0.5% – the worst figures for 18 years”

"C" Says:
October 24th, 2008 at 6:02 am
..these evil slugs are destroying the whole world..one country at a time!
..how much time does the FREE WORLD HAVE LEFT?
..that is up to We the People!
..safety in numbers, my friends!
Marc in dallas ft worth Says:
October 24th, 2008 at 10:31 am
Everyone should look at the article on hypnosis posted on infowars.com and study this research thoroughly. This is exactly what I have been dealing with on a daily basis. A few things popped out at me like mob hypnosis and war hypnosis turning civilized men into criminals. Being conditioned to verbal or other symbols with mental triggers creating a mental slave.This is also used in psychological warfare and black ops to create and control mind control victims and cults.These techniques are very dangerous in the wrong hands and the public should be aware they are being used on them. I have been aware of these techniques for several years. They have been used to covertly control and manipulate my behaviour. They have been used to try and coerce and force false confessions. They have been used to try and make me act violent or crazy. This is done openly and is easily deniable making it hard for victims to come forth. The article was right to recongnize this type of behaviour as illegal and giving specific court case examples stating “Hypnosis-type mental pressure has been held by the Supreme Court of the United States to be so unduly influential as to deprive someone of their fundamental rights.” I think the bigger story is that someone has attempted to frame myself and is now engaged in a massive coverup attempt. I am followed and harrassed everywhere I go. They are using psychological torture and recreating trauma to control and fragment my mind. This is well known by many and anyone who will not participate or tries to help me is also targeted. I was told by one man that he had to or “they would get me”. I have travelled to canada because they offer refuge protection to peoples who fear persecution or whose removal from Canada would subject them to a danger of torture, a risk to their life or a risk of cruel and unusual treatment or punishment. I was refused and told I needed to contact my local police. How do you contact the police and report corruption? These same people were openly taunting me in canada! I am an employee with the American Red Cross and they recently declared the United States as criminal and guilty of war crimes. The Red Cross is well known for being an advocate and defending human rights worldwide. I am now having the same problems by people who have been recruited or infiltrated positions that would get them close to me so that they might try and get me fired. If this type of illegal persecution and oppression can openly go unchecked and unchallenged it will only grow like a parasite on society and none of us will be safe until it is. Please don’t ignore or disregard this information. There is a covert war against the citizens who have become aware of corruption in the dallas ftworth area. Many people including churches are being persecuted.
tickletheNWO Says:
October 24th, 2008 at 11:14 am
we have till 21st january according to powell
bootroll Says:
October 25th, 2008 at 10:51 pm
I am English. I am glad this is happening, and I hope it gets much worse because the people of Britain are wicked and they deserve it!
Please sign this petition, if you support it of course,

http://www.indefence.is/
Lookout Says:
October 26th, 2008 at 8:38 pm
Well I must say that I am very, very disapointed At he Backyard simalcast. Alex and Co. missed a perfect oppertunity to rally the troops and actually do something with this but all it was was music. They could have put a real rally on…WHAT THE HELL WERE YOU THINKING AND WHAT THE HELL HAPPENED???