Comparing Double Dip Recessions

UK DOUBLE DIP RECESSIONS NOW vs 1970's Sadly, the UK iscurrently in a double dip recession. The last time this occurred was in the 1970's which led to the 3 day working week and the highest post war unemployment levels at the time.The question is, are we about to face the same difficulties we did back then? Let's compare the facts. Let's Compare NOW INTERESTRATES 1970S 12 4 Jan 2007 JuI 2007 Feb 2008 od 2008 Dec 2008 Feb 2009 Jun T2 Dac T2 Mlar Ta an Ta Oer TA Jan Te agr Te ag Te Fab TS agr TS JUTS Nov TS an Te May 2007 Dec 2007 Apr 2008 Nov 2008 Jan 2009 Mar 2009 During the 70s recession, interest rates didn't fall, in fact they rose and then stayed around the 10-12% range! Interest rates started to fall in December 2007 to their current low of 0.5% in March 2009. They have remained at this rate for 40 months NOW INFLATION 1970S 24 4 20 16 12 1 2007 2008 2009 2010 2011 1972 1973 1974 1975 1976 Year on year inflation has crept up since Back in the 70s inflation was in a different the recession took hold but has remained league with the recession sending it into the 20s! under the 5% mark. £1013.4billion NATIONAL DEBT £53.7billion 65% of GDP O 59.7% of GDP O Now 1974 $2.1714trillion GDP $197.7282billion 2009 1974 4.37% GDP CONTRACTIONRATE 1.36% 1974 2009 UNEMPLOYMENT 8.2% OUT OF WORK O 3.7% OUT OF WORK Now 1974 The main reasons behind the 1973-75 recession were an oil crisis, inflation and strikes The main reasons behind the 2008-Now recession were housing market and equity crashes GuarantorLoans