bignok Posted April 13, 2023 Share Posted April 13, 2023 1 minute ago, Chomper Higgot said: Maybe the fact the IMF bailed out the UK the last time it was the ‘sick man of Europe’ is something we should all remember. Who funds the IMF? 1 1 Link to comment Share on other sites More sharing options...
bignok Posted April 13, 2023 Share Posted April 13, 2023 "The IMF's resources mainly come from the money that countries pay as their capital subscription (quotas) when they become members. Each member of the IMF is assigned a quota, based broadly on its relative position in the world economy. Countries can then borrow from this pool when they fall into financial difficulty." So the Bank of England was just using UK funds. https://www.imf.org/en/About#:~:text=The IMF's resources mainly come,they fall into financial difficulty. 1 1 Link to comment Share on other sites More sharing options...
Chomper Higgot Posted April 13, 2023 Share Posted April 13, 2023 1 minute ago, bignok said: Who funds the IMF? Underwrites! Solvent nations, of which the UK has had experience of not being and came within hours of not being only one Prime Minister ago. 1 Link to comment Share on other sites More sharing options...
bignok Posted April 13, 2023 Share Posted April 13, 2023 1 minute ago, Chomper Higgot said: Underwrites! Solvent nations, of which the UK has had experience of not being and came within hours of not being only one Prime Minister ago. The US nearly went broke too. 2 Link to comment Share on other sites More sharing options...
stevenl Posted April 13, 2023 Share Posted April 13, 2023 4 minutes ago, bignok said: "The IMF's resources mainly come from the money that countries pay as their capital subscription (quotas) when they become members. Each member of the IMF is assigned a quota, based broadly on its relative position in the world economy. Countries can then borrow from this pool when they fall into financial difficulty." So the Bank of England was just using UK funds. https://www.imf.org/en/About#:~:text=The IMF's resources mainly come,they fall into financial difficulty. The good thing is for the UK that it will have to contribute less to the imf Link to comment Share on other sites More sharing options...
bignok Posted April 13, 2023 Share Posted April 13, 2023 2 minutes ago, stevenl said: The good thing is for the UK that it will have to contribute less to the imf Is the average UK person better off than the average Thai person? Link to comment Share on other sites More sharing options...
candide Posted April 13, 2023 Share Posted April 13, 2023 15 minutes ago, bignok said: Who funds the IMF? As any large organisation, they have a website providing all the information you may need. https://www.imf.org/en/About/Factsheets/IMF-at-a-Glance 2 Link to comment Share on other sites More sharing options...
Chomper Higgot Posted April 13, 2023 Share Posted April 13, 2023 15 minutes ago, bignok said: Is the average UK person better off than the average Thai person? Better off than the average Somali too. Find a famine somewhere and the average UK person had more to eat. Set your standards high. 1 Link to comment Share on other sites More sharing options...
bignok Posted April 13, 2023 Share Posted April 13, 2023 Just now, Chomper Higgot said: Better off than the average Somali too. Find a famine somewhere and the average UK person had more to eat. Set your standards high. Top 20 on happiness index. Really though individuals have to find happiness themselves. Also find meaning in life. Nobody will save you. You can only save yourself. There is a buddhist saying - if you cannot be happy with a little then you cannot be happy with a lot. Link to comment Share on other sites More sharing options...
youreavinalaff Posted April 13, 2023 Share Posted April 13, 2023 42 minutes ago, Chomper Higgot said: I actually said something a bit more than that, but you chose to cherry pick. I wonder why? Not cherry picking. Just sharing your rationale. Link to comment Share on other sites More sharing options...
Chomper Higgot Posted April 13, 2023 Share Posted April 13, 2023 4 minutes ago, youreavinalaff said: Not cherry picking. Just sharing your rationale. Cherry picking my post as I have demonstrated. And now trying to deny it. Sad 2 Link to comment Share on other sites More sharing options...
Chomper Higgot Posted April 13, 2023 Share Posted April 13, 2023 11 minutes ago, bignok said: Top 20 on happiness index. Really though individuals have to find happiness themselves. Also find meaning in life. Nobody will save you. You can only save yourself. There is a buddhist saying - if you cannot be happy with a little then you cannot be happy with a lot. The topic of discussion is the economy not some happiness nonsense. I guess you don’t like discussing the state of the economy 1 Link to comment Share on other sites More sharing options...
bignok Posted April 13, 2023 Share Posted April 13, 2023 4 minutes ago, Chomper Higgot said: The topic of discussion is the economy not some happiness nonsense. I guess you don’t like discussing the state of the economy The economy isnt bad unless you think it's bad. You choose to be negative or positive. As I said lots of people get rich in recessions. A recession is only 2 quarters of negative gdp growth which is nothing really. Link to comment Share on other sites More sharing options...
youreavinalaff Posted April 13, 2023 Share Posted April 13, 2023 (edited) 15 minutes ago, Chomper Higgot said: Cherry picking my post as I have demonstrated. And now trying to deny it. Sad You said it's the long term that matters. I shared that comment. Not cherry picking at all. Not sad either. As for cherry picking, why do you only reply to some of my posts, not all? Why not post on all topics? Cherry picking. 5555. Edited April 13, 2023 by youreavinalaff Link to comment Share on other sites More sharing options...
bignok Posted April 13, 2023 Share Posted April 13, 2023 The great depression lasted 6 years. People worrying about some mild recession gee. The internet age sets people off into negative thoughts over nothing. Do you have a roof over your head? Food to eat? Money and passport? Then you are not bad off. 1 Link to comment Share on other sites More sharing options...
placeholder Posted April 13, 2023 Share Posted April 13, 2023 1 minute ago, bignok said: The great depression lasted 6 years. People worrying about some mild recession gee. The internet age sets people off into negative thoughts over nothing. Do you have a roof over your head? Food to eat? Money and passport? Then you are not bad off. Actually, a recession isn't even necessarily defined by 2 quarters of negative GDP growth. The US recently experienced a negative 2 quarters in a row but unemployment was very low. And job openings were over 10 million. Link to comment Share on other sites More sharing options...
Chomper Higgot Posted April 13, 2023 Share Posted April 13, 2023 5 minutes ago, bignok said: The economy isnt bad unless you think it's bad. You choose to be negative or positive. As I said lots of people get rich in recessions. A recession is only 2 quarters of negative gdp growth which is nothing really. The Government’s own data says it’s bad. 1 Link to comment Share on other sites More sharing options...
bignok Posted April 13, 2023 Share Posted April 13, 2023 Just now, Chomper Higgot said: The Government’s own data says it’s bad. What is bad? Link to comment Share on other sites More sharing options...
Chomper Higgot Posted April 13, 2023 Share Posted April 13, 2023 6 minutes ago, youreavinalaff said: You said it's the long term that matters. I shared that comment. Not cherry picking at all. Not sad either. As for cherry picking, why do you only reply to some of my posts, not all? Why not post on all topics? Cherry picking. 5555. Again quoting me out of context of my full post. Sorry, I’m not giving you the attention you obviously believe I should be. 1 Link to comment Share on other sites More sharing options...
JonnyF Posted April 13, 2023 Share Posted April 13, 2023 These predictions are hilarious. I still have a good chuckle about the pre Brexit warnings of 10% gdp loss, the end of London as a financial centre etc. Good stuff. Anyone got any others? ???? 1 Link to comment Share on other sites More sharing options...
bignok Posted April 13, 2023 Share Posted April 13, 2023 1 minute ago, placeholder said: Actually, a recession isn't even necessarily defined by 2 quarters of negative GDP growth. The US recently experienced a negative 2 quarters in a row but unemployment was very low. And job openings were over 10 million. The official measure is 2 consecutive quarters but it's nothing really. Just media spin. Link to comment Share on other sites More sharing options...
Chomper Higgot Posted April 13, 2023 Share Posted April 13, 2023 Just now, bignok said: What is bad? Near zero growth and awful productivity. 1 Link to comment Share on other sites More sharing options...
Chomper Higgot Posted April 13, 2023 Share Posted April 13, 2023 Just now, JonnyF said: These predictions are hilarious. I still have a good chuckle about the pre Brexit warnings of 10% gdp loss, the end of London as a financial centre etc. Good stuff. Anyone got any others? ???? ‘Warm sunlit uplands’ ’Oven ready deal’. 1 Link to comment Share on other sites More sharing options...
Chomper Higgot Posted April 13, 2023 Share Posted April 13, 2023 3 minutes ago, bignok said: Not in my opinion. Ive got a passport, job and food to eat. I dont see a problem. Just media spin this economic stuff. Negative stuff. UK Government data on UK economy. Your ‘I’m alright Jack’ pov is noted. 1 Link to comment Share on other sites More sharing options...
bignok Posted April 13, 2023 Share Posted April 13, 2023 Just now, Chomper Higgot said: UK Government data on UK economy. Your ‘I’m alright Jack’ pov is noted. So what does that mean? Just averages. Means little really. If people are 1% worse off they are still people off than 90% of people. Link to comment Share on other sites More sharing options...
placeholder Posted April 13, 2023 Share Posted April 13, 2023 3 minutes ago, bignok said: The official measure is 2 consecutive quarters but it's nothing really. Just media spin. Not in the US The National Bureau of Economic Research (NBER) is generally recognized as the authority that defines the starting and ending dates of U.S. recessions. NBER has its own definition of what constitutes a recession, namely “a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.” https://www.forbes.com/advisor/investing/what-is-a-recession/ Link to comment Share on other sites More sharing options...
youreavinalaff Posted April 13, 2023 Share Posted April 13, 2023 1 minute ago, placeholder said: Not in the US The National Bureau of Economic Research (NBER) is generally recognized as the authority that defines the starting and ending dates of U.S. recessions. NBER has its own definition of what constitutes a recession, namely “a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.” https://www.forbes.com/advisor/investing/what-is-a-recession/ I'm going to sound like your side kick here but, US is not the subject ofvthis topic. Link to comment Share on other sites More sharing options...
bignok Posted April 13, 2023 Share Posted April 13, 2023 1 minute ago, placeholder said: Not in the US The National Bureau of Economic Research (NBER) is generally recognized as the authority that defines the starting and ending dates of U.S. recessions. NBER has its own definition of what constitutes a recession, namely “a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.” https://www.forbes.com/advisor/investing/what-is-a-recession/ So basically just numbers averaged in a spreadsheet. Unless you lose your job means nothing. Link to comment Share on other sites More sharing options...
Chomper Higgot Posted April 13, 2023 Share Posted April 13, 2023 3 minutes ago, bignok said: So what does that mean? Just averages. Means little really. If people are 1% worse off they are still people off than 90% of people. Oh, you are making up percentages now. 1 1 Link to comment Share on other sites More sharing options...
placeholder Posted April 13, 2023 Share Posted April 13, 2023 2 minutes ago, bignok said: So basically just numbers averaged in a spreadsheet. Unless you lose your job means nothing. Exactly. If unemployment is low, it really makes no sense to call 2 negative quarters a recession. It goes to the question of who is an economy for. 1 Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now