UK economy shrank 1.5% last quarter, will shrink 4.8% this quarter – global depression accelerating
Alan Hershey
Jan. 23, 2009

The rapid decline in UK economic growth in the fourth quarter of 2008 was the worst performance since the second quarter of 1980. The economy confiormed deflation driven depresson after new figures revealed the economy contracted by 1.5 per cent in the final three months of last year. The UK economy has afast accelertaed to depression with expected 4.8% GDP drop this quarter.

The global depression is accelerating as US and UK are poised for deep deflation driven depession for the next several years. Stocks declined around the world, driving Europe’s Dow Jones Stoxx 600 Index to the lowest level in more than five years, as concern deepened the global economic slump will erode earnings.

U.S. companies are reducing dividends at the fastest rate in half a century, squeezing investors who depend on the payouts more than ever to boost returns. In Europe, dividends have 10 percent in 2008 and is expected to fall 60 percent this year.

Global unemployment rate is expected to quadruple this year. American unemployment will top above 12% by end of 2010 and 18% by end of 2012.

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