Are We Heading For A Recession Like In The 30s?

[Arnold_Lane 0]

35 minutes ago, poppet2 said:

Oh yeah, now who's talking rubbish? So why has it just been announced this evening that the bank of England is going to pump a hundred billion into the economy. In other words they are going to print money, even if technically some of this money will digitally be pumped into the economy. 

It was only a matter of time. I rest my case. 

https://www.theguardian.com/business/2020/jun/18/bank-of-england-uk-economy-quantitative-easing-coronavirus-crisis

 

QE is not the same as a dictator simply printing money to buy arms.

 

Edited June 18, 2020 by Arnold_Lane

[El Cid 212]

Primark said it will not take advantage of a £30m bonus from the government.

I dont understand, companies are struggling to stay in profit and Primark are not taking £30 million Government handout.

They are keeping their employees, but not taking the Government money?

 

https://www.bbc.co.uk/news/business-53380719

[Arnold_Lane 0]

4 minutes ago, El Cid said:

Primark said it will not take advantage of a £30m bonus from the government.

I dont understand, companies are struggling to stay in profit and Primark are not taking £30 million Government handout.

They are keeping their employees, but not taking the Government money?

 

https://www.bbc.co.uk/news/business-53380719

What don’t you understand about it?

 

They can get a £1000 bonus for every member of staff brought back from

furlough - but they have said they won’t claim it.  Pretty simple.

[El Cid 212]

18 minutes ago, Arnold_Lane said:

They can get a £1000 bonus for every member of staff brought back from

furlough - but they have said they won’t claim it.  Pretty simple.

Wouldnt a company have a duty to its share holders to gain what ever profits it can, so why are they not claiming £1,000 per employee?

Is there something wrong with the scheme?

[drolnhoj 15]

34 minutes ago, El Cid said:

Wouldnt a company have a duty to its share holders to gain what ever profits it can, so why are they not claiming £1,000 per employee?

Is there something wrong with the scheme?

Big thumbs up from me to Primark. 

[altus 534]

40 minutes ago, El Cid said:

Wouldnt a company have a duty to its share holders to gain what ever profits it can, so why are they not claiming £1,000 per employee?

Is there something wrong with the scheme?

They have to keep their employees on for a certain time to get the money. The cynic in me says they want to keep the option open to get rid of them.

 

Of course, they might have just calculated that the good publicity they will get from this announcement will more than make up the difference.

[El Cid 212]

1 hour ago, altus said:

They have to keep their employees on for a certain time to get the money. The cynic in me says they want to keep the option open to get rid of them.

Of course, they might have just calculated that the good publicity they will get from this announcement will more than make up the difference.

Surely its per employee. So if they keep 20,000 staff, they get £20 million?

1 hour ago, drolnhoj said:

Big thumbs up from me to Primark. 

Indeed, but if you prefer the goods from another retailer, Primark are £20/£30 million down.

[altus 534]

6 minutes ago, El Cid said:

Surely its per employee. So if they keep 20,000 staff, they get £20 million?

Well yes, but keeping someone on for 3 months in order to get £1000 may not be worth it for the company.

[Guest]

https://www.bbc.co.uk/news/amp/business-53748278

 

UK officially in recession.

[apelike 10]

3 hours ago, Mr Fisk said:

https://www.bbc.co.uk/news/amp/business-53748278

 

UK officially in recession.

I think we should also expect other countries in the EU and around the World to do likewise or worse also due to coronavirus.

[tinfoilhat 11]

3 minutes ago, apelike said:

I think we should also expect other countries in the EU and around the World to do likewise or worse also due to coronavirus.

We're the worst out of the G7.

[apelike 10]

5 minutes ago, tinfoilhat said:

We're the worst out of the G7.

At the moment maybe, and as its early days yet I would expect more to follow as the current situation is not going to suddenly disappear. Give it another 6 months and see how France, Germany and the USA fair.

Edited August 12, 2020 by apelike