France 14 percent and spain 19 percent the bank of england has already warned that the recovery could take until the end of 2021. Or more we are joined by peter schiff of Euro Pacific Capital and shawn hyman of the logical investor gentlemen thank you for joining me today sean lets start lets lets dive right into this with the u. K. Economy here were talking the 6 largest a common enemy of the world can we expect continued recovery leading into the fall when coronavirus cases may rise again. I think theres still a rough road ahead for all you know their finance minister had gone on to say that theres going to be a lot more job losses for many more months still to come the bank of england recently also said that they think that it will take until the final quarter of 2021 before their g. D. P. Really recovers like it should and so i think theyve still got a tough road ahead of them their stocks are a little bit overvalued but not near as much as ours are over here so really the opportun
This is the one business show you cant afford to miss. In washington coming up the u. K. Crash into its deepest recession on the record. How it compares to other rich countries around the world Precious Metals are finding their way back commenting on to the can they return to the old record highs have a lot to get to lets get started. On wednesday britain officially entered a recession as coronavirus lockdowns hammered the countrys output well the office for National Statistics show the countrys g. D. P. It plunged by 20. 4 percent in the 2nd quarter of this year this is its deepest recession on record this comes after a dramatic fall in output of 2. 2 percent in the 1st quarter of this year while the Country Statistics Agency compared it to an annual rate of about 59. 8 percent and u. K. Chance to knock said although these are hard times theres still room for hope and were talking about this a few months ago hard times were coming and todays figures show the hard times that here hundr
Dont meet those goals and some of my friends jane if youre maybe if you dont die for a month youre going well you know the. Moment. Our lives. Change or more our lives aaron change. The for us the one business show you cant afford to miss. In washington coming up u. K. Crash into its deepest recession on the record will explain how it compares to other rich countries around the world Precious Metals are climbing their way back. On to the can they return to the old record highs have a lot to get to so lets get started. On wednesday britain officially entered a recession as coronavirus lockdowns hammered the countrys output well the office for National Statistics show the countrys g. D. P. It plunged by 20. 4 percent in the 2nd quarter of this year this is its deepest recession on record this comes after a dramatic fall in output of 2. 2 percent in the 1st quarter of this year while the countrys Statistics Agency compared it to an annual rate of about 59. 8 per cent and u. K. Chance to k
For National Statistics show the countrys g. D. P. It plunged by 20. 4 percent in the 2nd quarter of this year this is its deepest recession on record this comes after a dramatic fall in output of 2. 2 percent in the 1st quarter of this year while the countrys Statistics Agency compared it to an annual rate of about 59. 8 percent and u. K. Chance to knock said although these are hard times theres still room for hope. We talking about this a few months ago said the hard times were coming and todays figures show the hard times that here hundreds of thousands of people have already lost their jobs and suddenly many more will. Say to people all the tough decisions law ahead for all of us no one will be left without hope or opportunity. But g. D. P. Did expand by 8. 7 percent in june showing some promising signs still that 2nd quarter really hit it hit steepest among other rich countries and 2nd quarter u. S. And germany actually lost around 10 percent of their output italy lost 12 percent
Communist and other left wing parties who put enormous pressure in their parliaments and so on to target monopolies that are basically ripping everybody off so thats why they have more of a movement having said that being more into taxing big corporations in america isnt saying very much unfortunately so yeah the europeans are ahead of us but theres a lot of wheeling and dealing behind the scenes that goes on and there is a serious risk that the europeans in order to placate their own people will give a little slap on the wrist to these big corporations but whether theyll go further and really deal with the problem thats a little more of a question on one issue however they will go further they are furious that big corporations can pick and choose in europe which scum tree to locate in for example. Many have gone to ireland because the irish have a very low corporate profit rate so they get the pay low rates it whichever country has the lowest 1. 00 so the countries compete with one an