Post by jeffolie on Mar 22, 2012 15:58:55 GMT -6
European Recession started, crisis coming
[from: jeffolie 2012 Jan1st predicts]… EUROPEAN CRISIS: the financial crisis will increase ‘austerity’ as retirement ages extend, services are privatized from higher paying government salaries to lower paying private jobs, benefits reduced. Bailouts of European banks will shift low valued debt from the banks to the IMF, FED, ECB, China via ‘swaps’, bond sales, loans, etc. Average European families will have their version of screwflation because their incomes will decline and expenses increase from governments privatizing.
Read more: unlawflcombatnt.proboards.com/index.cgi?board=general&action=display&thread=10102#ixzz1psyeWyJV
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" ... Euro-area services and manufacturing output contracted more than economists forecast in March, adding to signs the economy has slipped into recession. ... "
Euro-Region Recession
A gauge of euro-region manufacturing fell to 47.7 in March from 49 in February, Markit said. A measure of services declined to 48.7 from 48.8. Companies cut employment levels for the third month in a row, while a gauge of new business decreased for an eighth month, today’s report showed.
Chris Williamson, chief economist at Markit, said in today’s statement that the euro-region economy probably continued to shrink in the first quarter.
“The downturn is only very mild at the moment,” he said. “However, firms are clearly focusing on cost reduction, with employment falling at the fastest rate for two years and inflows and business continued to deteriorate, reflecting weak demand across the region.”
www.bloomberg.com/news/2012-03-22/euro-area-services-manufacturing-shrink-more-than-estimated-1-.html
[from: jeffolie 2012 Jan1st predicts]… EUROPEAN CRISIS: the financial crisis will increase ‘austerity’ as retirement ages extend, services are privatized from higher paying government salaries to lower paying private jobs, benefits reduced. Bailouts of European banks will shift low valued debt from the banks to the IMF, FED, ECB, China via ‘swaps’, bond sales, loans, etc. Average European families will have their version of screwflation because their incomes will decline and expenses increase from governments privatizing.
Read more: unlawflcombatnt.proboards.com/index.cgi?board=general&action=display&thread=10102#ixzz1psyeWyJV
=====================
" ... Euro-area services and manufacturing output contracted more than economists forecast in March, adding to signs the economy has slipped into recession. ... "
Euro-Region Recession
A gauge of euro-region manufacturing fell to 47.7 in March from 49 in February, Markit said. A measure of services declined to 48.7 from 48.8. Companies cut employment levels for the third month in a row, while a gauge of new business decreased for an eighth month, today’s report showed.
Chris Williamson, chief economist at Markit, said in today’s statement that the euro-region economy probably continued to shrink in the first quarter.
“The downturn is only very mild at the moment,” he said. “However, firms are clearly focusing on cost reduction, with employment falling at the fastest rate for two years and inflows and business continued to deteriorate, reflecting weak demand across the region.”
www.bloomberg.com/news/2012-03-22/euro-area-services-manufacturing-shrink-more-than-estimated-1-.html