Just two days after Spain went Double Dip, Britain is now officially in double dip recession.
On April 23, it was reported that the “experts” expected U.K.’s quarterly GDP report to show 0.1% “growth”, which would have kept it officially out of a Double Dip (I said “close enough”).
April 25, the Office for National Statistics (ONS) said Britain’s GDP actually dropped 0.2%. Aww, that means two quarters in a row of negative GDP, welcome to the Double Dip club!
Here’s the tally, so far: United Kingdom, Spain, Italy and Belgium are officially Double Dippers.
To add to the European Union woes, France and Germany (considered the strongest economies in Europe) are seeing GDP contractions.
Then there’s Netherlands, which was considered to have a strong economy as well. However, the government has fallen apart, over arguments concerning cutting government spending and raising taxes. The Prime Minister resigned and new elections are to be held in September. The Queen of Netherlands (yes, they are an evil elitist monarchy just like the U.K.) has ordered the Prime Minister to stay on until after the new elections. (this is just more Trilateral Commission operations to create a singular privatized government system)