Just when we thought The Recovery was well on its way, this Recession bites back!

Over the last week, or so, the Euro’s future has been put in doubt. Greece, Spain, Italy, Portugal and Ireland have raised doubts about paying off their debts/loans; the USA voted to extend its deficit; and, stocks and share prices have tumbled day after day; today one FTSE company lost as much as 18.39% of its value, with a further six losing more than 10%. These share value losses are ok as they are only on paper; but, if these shares are sold, the losses become real and compounded, causing companies to go bust and further jobs lost.

Add to all this that, from 2014, mortgage providers will be making their products unattainable, unless you go in with your pockets rattling with mummy and daddy’s moulah, thereby reducing further the number of first-time buyers, then we’re in for a longer, bumpier ride than expected.

The boffins have predicted a double-dip recession for the last three years, but nobody has predicted a triple-dip recession, until now. I predicted it back in 2009! I just didn’t bother to document it anywhere. This recession, being the deepest since the Second World War, is likely to continue until at least 2016 as there is no Rationing to abolish to free-up markets.

Now, a quadruple-dip recession? Possible, but not very likely; although, you wouldn’t want to put your mortgage on it not occuring, now, would you . . . ?