Biggest Global Recession Coming ?

[pumpjack]

Society cannot sustain this lockdown for long, news reports it could last 6 months.
I was in middle of buying a property in UK, still am but im going to close the deal as i think in all likely hood that housing prices in UK will fall dramatically.
Could banks go under ?
Ive savings in global reach , they say they are protected by FCA but what if they fold ?

[Theland]

Yes it's coming.
All the things men put faith in will turn out to be a

[Spicerack]

Oh dear, I think Theland just fell off his perch.

[JimF]

Yeah, but he's a white English person, so he doesn't care about anybody else...

[Theland]

....... " house built on sand."

(Sorry. I pad problems.)

[youngmafbog]

I dont think anyone knows what is going to happen.

This is totally different to what has happened before as it is Worldwide and output is stopped uniformly. It is quite possible that things will go back to normal failry quickly, but there again they may not,

The biggest headache for Governments is timing. Get the timing right and your country will recover, get it wrong and catastrophe.

All those clamouring for total isolation, when in fact deaths are relatively low, perhaps didn't think of the consequences. And in some case still dont.

I dont think there will be a total collapse of house prices and I certainly dont thing any Banks will collapse, why should they? In fact Investment Banks have done very well, remember they make on every trade it matters not to them that the stock traded is of a lower value or going down or up.

[SiiiiiimpleMe]

Hmmm, should we start thinking about buying and storing gold?

[DTCwordfan]

Biggest recession - you must be joking. Drawn from the B of England's Millenium of Macroeconomic Data, the worst recessions were in 1624. GDP down by 25%, the war with Spain largely to blame/ and 1349, the Clack Death, down 23% - this year is expected to be down 6% and only less severe than 1919 and 1921 (WW1 and Spanish flu) - ok against modern recessions, it's the worst in our lifetime. My soucr, the DT editorial yesterday, page 16

[royfromaus]

JimF
Yeah, but he's a white English person, so he doesn't care about anybody else...


He's British, just like you. (I also believe you are English)

[naomi24]

Theland - the voice of doom again. Clearly this is going to have an enormous impact on the world - but we have to weather the storm. That's all we can do. Life will go on - and the world will recover.

[Bobbisox1]

How about a happy post or 10?