UK to be one of worst performing economies this year, predicts IMF

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Just now, youreavinalaff said:

Nothing about posting personal experiences. You, and a couple of other posters on here, never believe personal experiences, if they go against your own agenda.

There are plenty of forums where that is appropriate and makes sense. Not this one.

 

First you've performed a mindreading act about me.

First as: "You only believe what you want to believe"

"You, and a couple of other posters on here, never believe personal experiences, if they go against your own agenda."

 

 

I would strongly advise you not to pursue a career as a mentalist.

 

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1 minute ago, bignok said:

https://www.washingtonpost.com/news/storyline/wp/2014/11/26/why-did-small-businesses-suffer-so-badly-in-the-great-recession-blame-loans/

 

 

That was about the great recession in the USA. Were banks in the UK unwilling to make loans recently? Didn't the UK in fact have a program backing banks to make small loans?

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6 minutes ago, bignok said:

Post the links that back up your claims.

Which claim(s) would you like me to back up?

Edited April 17, 2023 by placeholder

[bignok]

Just now, placeholder said:

Which claim would you like me to back up?

Your claim that small businesses dont suffer greater in recessions.

[bignok]

4 minutes ago, placeholder said:

That was about the great recession in the USA. Were banks in the UK unwilling to make loans recently? Didn't the UK in fact have a program backing banks to make small loans?

https://realbusiness.co.uk/entrepreneurs-work-63-longer-than-average-workers

 

Many micro business owners are both time and cash-strapped, they need to make the most of every day because the amount of time being squeezed into the working week is enormous.

Edited April 17, 2023 by bignok

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1 minute ago, bignok said:

Your claim that small businesses dont suffer greater in recessions.

No. I challenged your claim that recessions act mainly on mom and pop stores and not on workers.

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Just now, bignok said:

https://realbusiness.co.uk/entrepreneurs-work-63-longer-than-average-workers

Where did I question that small entrepreneurs don't work harder than most?

[bignok]

1 minute ago, placeholder said:

No. I challenged your claim that recessions act mainly on mom and pop stores and not on workers.

And I just proved they work much longer and are cash strapped.

 

 

[Scott]

Numerous baiting, bickering, troll posts and replies reported and removed.

 

[Phoenix Rising]

Who knew that Brexit would completely wreck the UK economy?!

Quite a lot of us, actually.

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57 minutes ago, bignok said:

Go talk to micro business owners. For some reason you want me to research everything for you. Do it yourself.

It's not incumbent upon to back up your claims.

[bignok]

44 minutes ago, Phoenix Rising said:

Who knew that Brexit would completely wreck the UK economy?!

Quite a lot of us, actually.

https://www.statista.com/statistics/281734/gdp-growth-in-the-united-kingdom-uk/

 

Not so bad after covid.

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25 minutes ago, bignok said:

https://www.statista.com/statistics/281734/gdp-growth-in-the-united-kingdom-uk/

 

Not so bad after covid.

And yet, out of all the G7 economies it performed the worst through 2022.

This is from the Marxists at The Telegraph:

Britain to remain world’s worst-performing large economy in 2023

https://www.telegraph.co.uk/business/2023/04/11/imf-gives-british-economic-forecasts-biggest-upgrade-in-g7/

[bignok]

1 minute ago, placeholder said:

And yet, out of all the G7 economies it performed the worst through 2022.

This is from the Marxists at The Telegraph:

Britain to remain world’s worst-performing large economy in 2023

https://www.telegraph.co.uk/business/2023/04/11/imf-gives-british-economic-forecasts-biggest-upgrade-in-g7/

Try reading the link you quoted

 

The UK also recorded the biggest post-Covid bounce, logging the strongest GDP growth in the G7 in 2022.

The IMF has historically been one of the most pessimistic forecasters for the UK economy. Even with the recent upgrades, its expectations are still below predictions from the Office for Budget Responsibility and the Organisation for Cooperation and Economic Development, which have both forecast a 0.2pc contraction.

[bignok]

So the UK was no 1 in the G7 in 2022. Can't get much better than that.

 

 

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3 minutes ago, bignok said:

Try reading the link you quoted

 

The UK also recorded the biggest post-Covid bounce, logging the strongest GDP growth in the G7 in 2022.

The IMF has historically been one of the most pessimistic forecasters for the UK economy. Even with the recent upgrades, its expectations are still below predictions from the Office for Budget Responsibility and the Organisation for Cooperation and Economic Development, which have both forecast a 0.2pc contraction.

The prediction is irrelevant here. The key words are "To Remain". That points to the past which was what your claim was about. Namely that the UK had a sharp rise in growth in 2021. Yes, the UK had a big bounce back up. But that's what's called a statistical artefact. Its bounce was bigger because it's fall was bigger. That's explains why it could have a bigger bounce and still perform worse than other G7 Countries.

I do agree that the IMF has a dismal record in predictions and should be ignored in that regard. But that's not the issue that you raised in the post I commented on.

[bignok]

Just now, placeholder said:

The prediction is irrelevant here. The key words are "To Remain". That points to the past which was what your claim was about. Namely that the UK had a sharp rise in growth in 2021. Yes, the UK had a big bounce back up. But that's what's called a statistical artefact. Its bounce was bigger because it's fall was bigger. That's explains why it could have a bigger bounce and still perform worse than other G7 Countries.

I do agree that the IMF has a dismal record in predictions and should be ignored in that regard. But that's not the issue that you raised in the post I commented on.

Your link said the opposite of what you said. UK was no 1 in G7 in 2022. You said they were the worst.

 

Forecasts are just guesses and IMF ones are lower than other forecasts.

 

The facts are the UK did pretty well in 2021 and 2022. So not bad at all.

 

 

 

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7 minutes ago, bignok said:

Your link said the opposite of what you said. UK was no 1 in G7 in 2022. You said they were the worst.

 

Forecasts are just guesses and IMF ones are lower than other forecasts.

 

The facts are the UK did pretty well in 2021 and 2022. So not bad at all.

 

 

 

No it didn't. You claimed that the UK performed well in 2021 and 2022 and you cited growth in GDP to prove it.. But this opening sentence shows that you didn't take into account the UK's steep fall in 2020. As the opening sentence of the article notes

"Britain will still be the worst-performing large economy in the world this year, even after a significant upgrade in its forecasts, according to the International Monetary Fund (IMF)."

Even if that prediction turns out not to be true, and I wouldn't be surprised if it's wrong, that has nothing to do with your claim for 2021 and 2022. That's shown by the fact that the article says "Britain will still be etc."

Edited April 17, 2023 by placeholder

[bignok]

1 minute ago, placeholder said:

No it didn't. You claimed that the UK performed well in 2021 and 2022 and you cited growth in GDP to prove it.. But this opening sentence shows that you didn't take into account the UK's steep fall in 2020. As the opening sentence of the article notes

"Britain will still be the worst-performing large economy in the world this year, even after a significant upgrade in its forecasts, according to the International Monetary Fund (IMF)."

Even if that prediction turns out not to be, and I wouldn't be surprised if it's wrong, that has nothing to do with your claim for 2021 and 2022. That's shown by the fact that the article says "Britain will still be etc."

So now you use 3 years instead of 1. Normally people use 1 year for comparisons. Your links says 2022 was good for UK.

 

Just move on. The facts are UK had a shocker in 2020 but 2021 and 2022 were pretty good.

 

 

 

 

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9 minutes ago, bignok said:

So now you use 3 years instead of 1. Normally people use 1 year for comparisons. Your links says 2022 was good for UK.

 

Just move on. The facts are UK had a shocker in 2020 but 2021 and 2022 were pretty good.

 

 

 

 

What don't you understand about the fact that the UK performed the worst of the G7? Not only that, but it is still the only country in the G7 where the GDP hasn't yet surpassed its performance in 2019.

[bignok]

Just now, placeholder said:

What don't you understand about the fact that the UK performed the worst of the G7? Not only that, but it is still the only country in the G7 where the GDP hasn't yet surpassed its performance in 2019.

Yes covid was mishandled. That was 3 years ago.

 

2022 was a good year.

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1 minute ago, bignok said:

Yes covid was mishandled. That was 3 years ago.

 

2022 was a good year.

The UK performed the worst of the G7. So, if you want to call 2022 "good" for the UK, for the rest of the G7 it was "better".

[bignok]

1 minute ago, placeholder said:

The UK performed the worst of the G7. So, if you want to call 2022 "good" for the UK, for the rest of the G7 it was "better".

Spain was worse than the UK in 2020. In 2022 UK was best in G7 , your link says so.

 

 

 

 

Edited April 17, 2023 by bignok

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3 minutes ago, bignok said:

Spain was worse than the UK in 2020. In 2022 UK was best in G7 , your link says so.

 

 

 

 

Please quote me the section on that Telegraph article where it says in 2022 UK was best in G7?

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8 minutes ago, bignok said:

Spain was worse than the UK in 2020. In 2022 UK was best in G7 , your link says so.

 

 

 

 

Spain is not a member of the G7

[ozimoron]

3 minutes ago, placeholder said:

Please quote me the section on that Telegraph article where it says in 2022 UK was best in G7?

https://www.oecd.org/newsroom/gdp-growth-fourth-quarter-2022-oecd.htm

[bignok]

Just now, placeholder said:

Spain is not a member of the G7

So what? Means nothing. You cannot just cherry pick 2020 (3 years ago) and 7 countries and make out its a strong argument cause it is not. It's called cherry picking for a reason. You ignore the most current years plus other nations. Just a weak outdated point.

 

 

 

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2 minutes ago, ozimoron said:

https://www.oecd.org/newsroom/gdp-growth-fourth-quarter-2022-oecd.htm

I'm not sure what the point is you're trying to make here,  but October, November, and December are more or less 1/4 of the year.

[bignok]

4 minutes ago, ozimoron said:

https://www.oecd.org/newsroom/gdp-growth-fourth-quarter-2022-oecd.htm

Good link.

 

Among G7 countries, the United Kingdom recorded the highest annual growth in 2022 (4.0%), followed by Italy (3.8%) and Canada (3.6%), while Japan recorded the lowest growth (1.1%). Among other OECD countries for which data is available, Ireland recorded the highest annual growth in 2022 (12.2%), while Latvia recorded the lowest (1.5%).

[bignok]

1 minute ago, placeholder said:

I'm not sure what the point is you're trying to make here,  but October, November, and December are more or less 1/4 of the year.

Yes and UK did well in 2022, most current year.