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| IMF makes further U-turn on Britain's economic prospects as Brexit fears prove unfounded | |
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| Topic Started: Jan 16 2017, 03:57 PM (371 Views) | |
| Phoenix One UK | Jan 16 2017, 03:57 PM Post #1 |
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BoE did U-turn, as did IMF. We then have following:
It appears that the remain camp had got it wrong time and again. The future for UK looks bright. Edited by Phoenix One UK, Jan 16 2017, 03:58 PM.
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| Phoenix One UK | Jan 16 2017, 04:19 PM Post #2 |
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The above was extracted from Express, which save me the trouble of surfing and posting individual headlines as they relate to countries named. Now, how many member states are there in EU? Note that the UK would continue to have access to EU single market post Brexit, as does any other country on the planet. The USA, China, Japan, are just three cases in point. They all have access to single market, and without having to accept all the EU rules . |
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| Steve K | Jan 16 2017, 04:39 PM Post #3 |
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Once and future cynic
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You didn't read the IMF report did you go on treat yourself with some facts: http://www.imf.org/external/pubs/ft/weo/2017/update/01/pdf/0117.pdf And then look at what they say about 2018 |
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| Phoenix One UK | Jan 16 2017, 04:50 PM Post #4 |
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I did not need to read a damn thing. Matter of fact you should surf the net to see how the experts are stacking up against public opinion. Like it or not, the IMF got it wrong, and they did do a U-turn. This in no way translates to their getting it correct this time round, or, at least not for me. You can get any expert you like to say anything on economic situation/future of any country, and I will probably find another to say the opposite. The EZ crisi being just obvious case in point. How many experts got involved in that one? Did they solve it? Do they even agree with each other? BoE did a U-turn. IMF did a U-turn. Pound sterling is down, but exports are up, way up. kind of reminds me of what a then Australian Fed treasurer said prior to becoming PM after Bob Hawke stepped down. He gave Australia a recession it need to have. Over 60,000 businesses went to the wall because of what he did not to mention two state banks going bust (VIC and SA). The UK's future is looking very bright.
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| Steve K | Jan 16 2017, 04:53 PM Post #5 |
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Once and future cynic
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Translation ^ Ph1 knows that the IMF revised its figure for UK growth in 2018 down by about as much as they revised their 2017 figure up. In terms of the UK's future they have hardly changed their position from October |
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| Phoenix One UK | Jan 16 2017, 04:56 PM Post #6 |
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Nope, I said nor implied any such thing. You are posting rubbish, and my posts stand. Investments in UK are up since Brexit vote, as are number of countries on world stage that what a trade deal with post Brexit Britain. Nothing you can say changes that.
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| Steve K | Jan 16 2017, 05:03 PM Post #7 |
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Once and future cynic
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How unfortunate for you that the facts deny that ^ You do know that in international terms the FTSE is down since the June 23rd vote don't you? |
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| Phoenix One UK | Jan 16 2017, 05:07 PM Post #8 |
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So what? You do know that the FTSE also goes up and down every day I trust?
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| papasmurf | Jan 16 2017, 05:09 PM Post #9 |
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If I had taken any notice of "experts" in the past, I would probably be begging on a street corner. Personally I suspect Brexit is going to impoverish a lot of people in Britain and unless a close eye is kept on any trade deal done by the current government with America, the NHS will be sold of to a crooked American health insurance company. |
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| Steve K | Jan 16 2017, 05:10 PM Post #10 |
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Once and future cynic
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Don't patronise me The fact is over the 200 days (long enough for you?) since the vote it is up 15% in terms of a currency that is devalued by 20%. You do the maths, you can can't you? |
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| Phoenix One UK | Jan 16 2017, 05:11 PM Post #11 |
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Sorry, I thought you knew. OK, here is the way it works. The FTSE goes up and down every day. Same with currencies, and even commodities.
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| Steve K | Jan 16 2017, 05:12 PM Post #12 |
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Once and future cynic
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And how strange that the prominent Vote Leavers like Boris, Fox and Gove would not see that as a bad thing They had their niche agenda all along |
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| Steve K | Jan 16 2017, 05:13 PM Post #13 |
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Once and future cynic
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And those with a IQ over 60 know that over 200 days is a sufficient timespan to take more than a daily view So what are you, dim or trying to deceive by posting endless BS? I'll go with the latter but feel free to opt for the former |
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| Phoenix One UK | Jan 16 2017, 05:15 PM Post #14 |
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My IQ is over 60, way over, and I don't buy your BS/Rubbish.
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| Steve K | Jan 16 2017, 05:18 PM Post #15 |
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Once and future cynic
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But the facts are on my side 200 days is 200 times a day so smooths out daily variations - so your argument on that was BS And the IMF has CUT it's growth forecast for the UK in 2018 Ain't facts awkward to those that spout BS |
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| Phoenix One UK | Jan 16 2017, 05:21 PM Post #16 |
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Doesn't change their U-turn though nor does it make any future projections correct. Try again...
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| papasmurf | Jan 16 2017, 05:22 PM Post #17 |
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60% of the FTSE 100 are companies that are effected by income external to Britain, and anyone with an IQ over 60 knows it is not much of an indicator of what is happening with the British economy, also 200 days is nowhere long enough to make any predictions about the effects of Brexit. |
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| Steve K | Jan 16 2017, 05:26 PM Post #18 |
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Once and future cynic
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Oh FFS at which point will you realise it's your own thread (and vestigial reputation) you are ruining? Go on tell the forum that a net by 2018 0.1% improvement in growth forecast is a "U turn". Don't say you weren't advised to actually read their report (but chose not to) |
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| Steve K | Jan 16 2017, 05:31 PM Post #19 |
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Once and future cynic
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It was Ph1 that was trying to fool us that the UK was so much better off after that 200 days. But he hadn't thought it through The FTSE 250 which is a better guide to UK value is actually worse off in international terms than the FTSE 100 since the vote. |
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| Phoenix One UK | Jan 16 2017, 05:33 PM Post #20 |
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I know it's my own thread. My name in the OP was a dead give-away. What part of my posts did you fail to understand? I posted an opinion on information possessed. I added my own comments to those posts. You responded, and I countered. Further, your counter was also an opinion. It is not fact. An opinion I do not believe stands up to scrutiny. And I stated why. Attacking me does not change that.. All it does is result in a counter. You throw rubbish at me, and I will throw it back. End of.
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| Steve K | Jan 16 2017, 05:40 PM Post #21 |
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Once and future cynic
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So what is it? Are you unable to or refusing to do the maths? IMF revised our growth figures for 2017 up 0.4% and for 2018 down 0.3% That'd be a net 0.1% and some think they can fool us that a net 0.1% is a U Turn
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| Phoenix One UK | Jan 16 2017, 05:58 PM Post #22 |
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The above was extracted from Express, and I used this one for the headline. Note the Express is far from alone on this issue. Even the BBC are running the same story. In lead up to EU Referendum, Cameron and Remain campaign were using the IMF forecast to have voters vote remain. They did the same with BoE, and host of others. The growth figures then were fairly bad, and the ones they had just put out are far better. Further, the word prediction should never be used, as nobody can predict anything with certainty. Projections would be a better choice. If you surf the net, I trust you will note that the IMF also did a U-turn on USA forecasts under Trump. Me, I prefer to look at what markets are actually doing. Investments in UK are way up. These are investments on medium to long term. Short term problems were/are expected. After all Brexit is no small thing. To many variables to consider. Hence, the slump in pound sterling was expected, but it does has a bonus as it is a bonus for exporters. The main thing here to comprehend is that the UK continues to attract strong investments, and this was happening after the British people voted for Brexit. The IMF did a U-turn. I stand by that statement. |
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| Steve K | Jan 16 2017, 06:33 PM Post #23 |
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Once and future cynic
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No the BBC are not running a U turn story as you full well know. Lets look http://www.bbc.co.uk/news/business-38637243
When will you learn that when you post obvious bollocks some people are going to post the facts to show you up? I wonder if any serious poster wants to back you by saying a net 0.1 % upgrade is a "U turn" |
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| Phoenix One UK | Jan 16 2017, 06:45 PM Post #24 |
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If the IMF raised UK's growth forecast, it stands to reason that they changed their forecast. I believe such a change of going from negative to positive qualifies as a U-turn.
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| Phoenix One UK | Jan 16 2017, 06:48 PM Post #25 |
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Bottom line, as I clearly implied elsewhere here, the IMF don't know.
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| Steve K | Jan 16 2017, 06:51 PM Post #26 |
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Once and future cynic
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And only a complete idiot or charlatan would try to pass off that BBC headline as saying it was a U Turn But then the BBC know what a net 0.1% increase really is |
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| Phoenix One UK | Jan 16 2017, 06:54 PM Post #27 |
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My post was very clear. I said even the BBC was running the story, and they did.
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| Steve K | Jan 16 2017, 06:57 PM Post #28 |
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Once and future cynic
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I ask again: does any serious poster want to back Ph1 by saying a net 0.1 % upgrade is a "U turn"? |
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| Phoenix One UK | Jan 16 2017, 06:59 PM Post #29 |
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According to BBC, it was 0.4%
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| Steve K | Jan 16 2017, 07:05 PM Post #30 |
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Once and future cynic
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Oh FFS, someone please spare me from the enumerate It was 0.4% up in 2017 and 0.3% down in 2018. That is a net 0.1%. Even a 6 year old could do that maths |
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| Phoenix One UK | Jan 16 2017, 07:08 PM Post #31 |
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The IMF says it now expects the UK to grow by 1.5% this year, compared with the 1.1% it was previously forecasting. Hmm, 1.5 - 1.1 = 0.4%. |
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| Steve K | Jan 16 2017, 07:25 PM Post #32 |
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Once and future cynic
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and he keeps on with his idiocy and deceipt "For 2018, the organisation's forecast for UK economic growth has now been downgraded, from 1.7% last October to 1.4% now" Do you need some remedial education to work out the net figure? |
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| Phoenix One UK | Jan 16 2017, 07:26 PM Post #33 |
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Nope, the statement was very clear, and as posted.
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| Steve K | Jan 16 2017, 07:54 PM Post #34 |
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Once and future cynic
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Repeat request as getting very bored dealing with someone who thinks he can pretend the IMF didn't downgrade their 2018 forecast. |
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| Phoenix One UK | Jan 16 2017, 07:59 PM Post #35 |
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How many links do you want to same story? The BBC had always been considered a BIAS pro EU broadcasting corporation, and even they said what I quoted. I hate to rain on your parade but 1.5% - 1.1% = 0.4%. Note that on the grand scale of things we are talking about £billions, so the difference is quite considerable.
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| Steve K | Jan 16 2017, 08:03 PM Post #36 |
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Once and future cynic
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0.4% (2017) - 0.3% (2018) = 0.1% I'd find you a remedial maths course in Swindon to help you understand that but seems they can't treat dishonesty and denial at the same time |
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| Phoenix One UK | Jan 16 2017, 08:04 PM Post #37 |
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What happened to 2017? Didn't you like it?
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| Steve K | Jan 16 2017, 08:09 PM Post #38 |
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Once and future cynic
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Those members with eyesight and honesty will have spotted it, it was bleeding obvious but let me highlight it for the disadvantaged
you must be able to hear the Didgeridoos by now you've dug so deep |
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| Deej1992 | Jan 16 2017, 08:11 PM Post #39 |
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I think what we need to remember here is that the UK has not left the EU yet. Yes, the economy is doing okay at the moment, but the real marker will be what our economy is like once Brexit has been realised. We've already seen the pound fall in value and fall further against the dollar and Euro this week in light of Theresa May's expected support for a hard Brexit, and who knows what banks, manufacturers and other sectors may decide to do in terms of keeping their headquarters here in Britain and the jobs that could be lost if they do move. In my opinion, the real implications of Brexit won't be seen until we actually leave and then will be the time to make a judgment on how we're faring. |
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| Phoenix One UK | Jan 16 2017, 08:14 PM Post #40 |
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The IMF says it now expects the UK to grow by 1.5% this year, compared with the 1.1% it was previously forecasting. 1.5 - 1.1 = 0.4%. These were the projections the IMF gave if UK voted for Brexit. The IMF was wrong. Now you throw in 2018, a year they cannot make any forecast on. Do you know why? Because the UK has not left yet, and nobody knows what the terms of exit will be. Not even the IMF. Hence, I put it to you. How on earth can anyone, including the IMF, make any projections when not even they know what terms the UK will have on exit? |
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2:16 PM Jul 11