LEAVE the Conservative Party and save your country!
Comments
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rick_chasey said:
Quality. Remind me what credentials Rishi had when he became PM? Oh that’s right, he was chancellor
Pretty impressive not to mention the elephant in the room of making trading with our closest, biggest, wealthiest market progressively more difficult.0 -
I love the "If the IMF is right..." part of the Tweet. Well no sh*t, Sherlock. If Russia, with sanctions, underperforms the UK then that would be quite something. But this all hinges on whether the IMF is right, which we won't know for several months.rick_chasey said:
Quality. Remind me what credentials Rishi had when he became PM? Oh that’s right, he was chancellor
I have a theory about why people get so excited by forecasts. Firstly, they cover all countries on the same day, whereas national GDP reports tend to come out in dribs and drabs over quarter. Secondly, they are all on the same basis, necessarily avoiding national-level unknowns and are thus easy to compare. Actuals tend to be on different bases and reflect a whole host of national-level one-offs and are not always so readily comparable. An example of the latter is the UK's relative performance in GDP terms in 2022 and 2021 vs G7 etc. which the UK's detractors dismiss as not representative of the true state of the economy as the UK was so badly hit economically by Covid in 2020 and so was bouncing back up from a lower level.0 -
I think forecasts are good at showing the current state.
It’s not like the UK hasn’t been near the bottom of the G10 for some time growth wise.0 -
According to the IMF release quoted above, the UK had 4% growth in 2022, which is the highest in the g7.rick_chasey said:I think forecasts are good at showing the current state.
It’s not like the UK hasn’t been near the bottom of the G10 for some time growth wise.
Spain was 5.5%, which is the only one higher in the quoted advanced economies.
Russia had -2.1%2 -
Lol are we looking at the same numbers here?!kingstongraham said:
According to the IMF release quoted above, the UK had 4% growth in 2022, which is the highest in the g7.rick_chasey said:I think forecasts are good at showing the current state.
It’s not like the UK hasn’t been near the bottom of the G10 for some time growth wise.
Spain was 5.5%, which is the only one higher in the quoted advanced economies.
Russia had -2.1%
https://commonslibrary.parliament.uk/research-briefings/sn02784/0 -
First page of the pdf linked on that page.rick_chasey said:
Lol are we looking at the same numbers here?!kingstongraham said:
According to the IMF release quoted above, the UK had 4% growth in 2022, which is the highest in the g7.rick_chasey said:I think forecasts are good at showing the current state.
It’s not like the UK hasn’t been near the bottom of the G10 for some time growth wise.
Spain was 5.5%, which is the only one higher in the quoted advanced economies.
Russia had -2.1%
https://commonslibrary.parliament.uk/research-briefings/sn02784/
IMF have revised it to 4.0% in the report that your linked tweet was about, released yesterday.
https://www.imf.org/en/Publications/WEO/Issues/2023/04/11/world-economic-outlook-april-20231 -
Compared to the pre-pandemic level, UK GDP in Q4 2022 was 0.8% lower. This compares with Eurozone GDP being 2.4% higher than its pre-pandemic level, while US GDP was 5.1% higher.
GDP of G7 economies in Q4 2022 compared with pre pandemic level of Q4 2019
For 2022 as a whole, UK GDP growth was 4.1%. This figure compares GDP in all of 2022, with all of 2021. The relatively strong rate of growth in 2022 is mostly a result of the continued recovery from pandemic-related weakness in early 2021. (GDP growth over the course of 2022 in the UK was essentially flat.)
The UK had the largest decline in GDP among the G7 in 2020 (-11.0%) the first year of the pandemic and its relatively strong performances in 2021 (+7.6%) and 2022 (+4.0%) were largely a recovery from the weakness in 2020 and early 2021.
UK economy had been in the doldrums for some time, let’s not pretend otherwise.0 -
So what you're saying is that it's unwise to just use comparisons of one year's growth figures to make conclusions.rick_chasey said:Compared to the pre-pandemic level, UK GDP in Q4 2022 was 0.8% lower. This compares with Eurozone GDP being 2.4% higher than its pre-pandemic level, while US GDP was 5.1% higher.
GDP of G7 economies in Q4 2022 compared with pre pandemic level of Q4 2019
For 2022 as a whole, UK GDP growth was 4.1%. This figure compares GDP in all of 2022, with all of 2021. The relatively strong rate of growth in 2022 is mostly a result of the continued recovery from pandemic-related weakness in early 2021. (GDP growth over the course of 2022 in the UK was essentially flat.)
The UK had the largest decline in GDP among the G7 in 2020 (-11.0%) the first year of the pandemic and its relatively strong performances in 2021 (+7.6%) and 2022 (+4.0%) were largely a recovery from the weakness in 2020 and early 2021.
UK economy had been in the doldrums for some time, let’s not pretend otherwise.0 -
Sure.kingstongraham said:
So what you're saying is that it's unwise to just use comparisons of one year's growth figures to make conclusions.rick_chasey said:Compared to the pre-pandemic level, UK GDP in Q4 2022 was 0.8% lower. This compares with Eurozone GDP being 2.4% higher than its pre-pandemic level, while US GDP was 5.1% higher.
GDP of G7 economies in Q4 2022 compared with pre pandemic level of Q4 2019
For 2022 as a whole, UK GDP growth was 4.1%. This figure compares GDP in all of 2022, with all of 2021. The relatively strong rate of growth in 2022 is mostly a result of the continued recovery from pandemic-related weakness in early 2021. (GDP growth over the course of 2022 in the UK was essentially flat.)
The UK had the largest decline in GDP among the G7 in 2020 (-11.0%) the first year of the pandemic and its relatively strong performances in 2021 (+7.6%) and 2022 (+4.0%) were largely a recovery from the weakness in 2020 and early 2021.
UK economy had been in the doldrums for some time, let’s not pretend otherwise.
Look it was a flippant comment to illustrate the point. The article linked covers all the G7 nations, but the fact that Russia is under sanctions and still growing more than the UK is quite a nice short hand to illustrate the problem.
But feel free to focus on the flippant comment and not the underlying issue..!0 -
You've got to squint quite hard to see that particular stat meaning that somehow we are worse off than Russia.rick_chasey said:
Sure.kingstongraham said:
So what you're saying is that it's unwise to just use comparisons of one year's growth figures to make conclusions.rick_chasey said:Compared to the pre-pandemic level, UK GDP in Q4 2022 was 0.8% lower. This compares with Eurozone GDP being 2.4% higher than its pre-pandemic level, while US GDP was 5.1% higher.
GDP of G7 economies in Q4 2022 compared with pre pandemic level of Q4 2019
For 2022 as a whole, UK GDP growth was 4.1%. This figure compares GDP in all of 2022, with all of 2021. The relatively strong rate of growth in 2022 is mostly a result of the continued recovery from pandemic-related weakness in early 2021. (GDP growth over the course of 2022 in the UK was essentially flat.)
The UK had the largest decline in GDP among the G7 in 2020 (-11.0%) the first year of the pandemic and its relatively strong performances in 2021 (+7.6%) and 2022 (+4.0%) were largely a recovery from the weakness in 2020 and early 2021.
UK economy had been in the doldrums for some time, let’s not pretend otherwise.
Look it was a flippant comment to illustrate the point. The article linked covers all the G7 nations, but the fact that Russia is under sanctions and still growing more than the UK is quite a nice short hand to illustrate the problem.
But feel free to focus on the flippant comment and not the underlying issue..!
The flippant comment doesn't really illuminate the point you are trying to make.1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
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I think that's worse.rick_chasey said:Me, I didn't write the tweet, it was the chief foreign affairs editor of the FT, but anyway.
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Sorry, the point *they are trying to make.rick_chasey said:Me, I didn't write the tweet, it was the chief foreign affairs editor of the FT, but anyway.
Agreed, our economy is pretty static and could be doing better. I'm not sure what comparison with Russia adds to that.1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
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Anyone else seen any of Truss's speech for the Heritage Foundation?
Just breathtaking in its stupidity.1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
The tweet was implying that the numbers say that our economy is in a worse state than Russia's.rick_chasey said:I would have thought that was fairly obvious
If that is the case then the focus of the FT's foreign affairs editor should probably be on why Russia is doing relatively well despite the sanctions, or whether Russia's figures can be trusted.0 -
I'll be interested when she declares in the register what she was paid for that.rjsterry said:Anyone else seen any of Truss's speech for the Heritage Foundation?
Just breathtaking in its stupidity.0 -
UK growing less than pretty much all the g10 countries, including one where the majority of the west is doing its upmost to cripple it economically as it wages a massive land war.
I mean come on guys, use your imagination a bit.0 -
Yes, you're right, I think there is something wrong with those Russia numbers.rick_chasey said:UK growing less than pretty much all the g10 countries, including one where the majority of the west is doing its upmost to cripple it economically as it wages a massive land war.
I mean come on guys, use your imagination a bit.
Or do you think the UK economy is doing worse than Russia?0 -
Given our economy is already double the size of Russia, with less than half the population, percentage growth rates give you a very skewed idea of the relative health of each economy.rick_chasey said:UK growing less than pretty much all the g10 countries, including one where the majority of the west is doing its upmost to cripple it economically as it wages a massive land war.
I mean come on guys, use your imagination a bit.1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
The central idea that businesses are devoting more resources to meeting regulatory requirements than to generating profit is so obviously nonsense that you have to marvel at the degree of detachment from reality.kingstongraham said:
I'll be interested when she declares in the register what she was paid for that.rjsterry said:Anyone else seen any of Truss's speech for the Heritage Foundation?
Just breathtaking in its stupidity.1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
rick_chasey said:
UK growing less than pretty much all the g10 countries, including one where the majority of the west is doing its upmost to cripple it economically as it wages a massive land war.
I mean come on guys, use your imagination a bit.rick_chasey said:UK growing less than pretty much all the g10 countries, including one where the majority of the west is doing its upmost to cripple it economically as it wages a massive land war.
I mean come on guys, use your imagination a bit.
So you have a country that had sanctions imposed on it but must be pumping up the economy with defence spending against a country that imposed sanctions on itself and the Govt keeps borrowing money to avoid a recession.rick_chasey said:UK growing less than pretty much all the g10 countries, including one where the majority of the west is doing its upmost to cripple it economically as it wages a massive land war.
I mean come on guys, use your imagination a bit.
Mentioning Russia is the headline grabber, the true story is how sh1t Brexit is proving to be.0 -
Today's comic... I'm not going to waste brain cells trying to make sense of the random pixels on the page.
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He seems to have confused culture and popular discourse with politics, and believes that his understanding of what constitutes right wing, is the only one.briantrumpet said:Today's comic... I'm not going to waste brain cells trying to make sense of the random pixels on the page.
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Been watching TrussBot hasn’t he.Jezyboy said:
He seems to have confused culture and popular discourse with politics, and believes that his understanding of what constitutes right wing, is the only one.briantrumpet said:Today's comic... I'm not going to waste brain cells trying to make sense of the random pixels on the page.
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'Guys! You've literally been running the country for over a decade. If it's still not the way you want it, it's down to you.'briantrumpet said:Today's comic... I'm not going to waste brain cells trying to make sense of the random pixels on the page.
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
^
You say you want a revolution
Well, you know
We all want to change the world
You tell me that it's evolution
Well, you know
We all want to change the world
Nah just shoot the fuxxers.0 -
Apparently it's time for Sunak's teach maths until 18 plan to do the media rounds again...0
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If it's about teaching practical home budget accounting then fair enough.Jezyboy said:Apparently it's time for Sunak's teach maths until 18 plan to do the media rounds again...
Theoretical mathematics (for want of a better phrase) should be a choice.The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
The level of maths required for that should have been covered before even GCSE though? I'd argue that if it hasn't gone in by 16, then what is needed is a review of teaching methods, not 2 more years of the same thingpblakeney said:
If it's about teaching practical home budget accounting then fair enough.Jezyboy said:Apparently it's time for Sunak's teach maths until 18 plan to do the media rounds again...
Theoretical mathematics (for want of a better phrase) should be a choice.1
