The IMF have cut their estimates for growth in our economy by 0.9%. That is a cut in their estimates, not an increase.
Here's what their chief analyst actually said:
Quoted Text
“The first half of 2016 revealed some promising signs – stronger than expected growth in the euro area and Japan, as well as a partial recovery in commodity prices that helped several emerging and developing economies."
“As of 22 June [the day before the referendum], we were therefore prepared to upgrade our 2016-17 global growth projections slightly. But Brexit has thrown a spanner in the works.”
Their original view was that the world economy was likely to be weaker than some signs recent might indicate, hence the 'improvement' in their forecast. They note that the resilience of the markets after the referendum, in their view, means that the gloomier forecasts are less likely to occur, but that doesn't mean that there hasn't been damage done.
At the moment, we're treading water until Article 50 is enacted, but don't be surprised to see the world economy wobble once again once it eventually is. I'm still guessing we'll be seeing a recession in the next year or two as the world economy is in a crap state in general.
The next big potential upset would be if Trump were somehow to win the US Presidency. The markets will excrement the bed if that occurs, as should any sensible person.
ECB, administers monetary policy of the Eurozone, how did it help Greece. Did you watch Mark Blyth: The AthensLive Interview video I posted before.
I've heard of his book (never read it, mind) and I'm in agreement with his views that the Eurozone is currently being operated to benefit the Germans (and the French), at the expense of the PIIGS countries. You can't have a currency union without a fiscal union and you need to have transfers between the states to balance things out in the way that they do in the USA. California, for example, pays huge amounts more to the federal government than it receives back. Perversely, the deep red Republican states hate the federal government over there with a passion, even though they receive much more from it than is taken in taxes!
The need for a fiscal union to save the Euro is already apparent to most economists and there have been one or two noises which indicate that the ECB are beginning to realise that they can't go on with their current policies. Whether this will ultimately stop the collapse of the Euro is doubtful, time will tell.
However, the Eurozone is not the EU and membership of the Euro was not required to enjoy the economic benefits of a single market. Whether or not the single market aspect of the EU could continue to exist after a Euro collapse remains to be seen (though it existed before the Euro).
Blyth is completely correct (unsurprisingly as it is his speciality) that austerity across Europe is the problem. It has clearly failed to achieve its aims, has no support in economic theory or practice, yet those in government continue to impose it. Other than the immigration question, most of the economic issues people voting Leave blamed on the EU were actually those imposed by the government's policies! Absolutely nuts.
I've heard of his book (never read it, mind) and I'm in agreement with his views that the Eurozone is currently being operated to benefit the Germans (and the French), at the expense of the PIIGS countries. You can't have a currency union without a fiscal union and you need to have transfers between the states to balance things out in the way that they do in the USA. California, for example, pays huge amounts more to the federal government than it receives back. Perversely, the deep red Republican states hate the federal government over there with a passion, even though they receive much more from it than is taken in taxes!
The need for a fiscal union to save the Euro is already apparent to most economists and there have been one or two noises which indicate that the ECB are beginning to realise that they can't go on with their current policies. Whether this will ultimately stop the collapse of the Euro is doubtful, time will tell.
However, the Eurozone is not the EU and membership of the Euro was not required to enjoy the economic benefits of a single market. Whether or not the single market aspect of the EU could continue to exist after a Euro collapse remains to be seen (though it existed before the Euro).
Blyth is completely correct (unsurprisingly as it is his speciality) that austerity across Europe is the problem. It has clearly failed to achieve its aims, has no support in economic theory or practice, yet those in government continue to impose it. Other than the immigration question, most of the economic issues people voting Leave blamed on the EU were actually those imposed by the government's policies! Absolutely nuts.
The point he made about Scotland was an eye opener as well. The EU has allowed politicians to shift blame when things go wrong, it has been easy to blame the EU for their failings.
Also respected Economist Bernard Connolly says E.U. is Dangerous & "Explicitly Anti-Democratic" He states that he predicted a economic crash 5 years ago because of how the EU and British banks have been doing business.
Supporting the Mighty Mariners for over 30 years, home town club is were the heart and soul is and it's great to be a part of it.
Jesus’ disciple Peter, picked up a fish to get the tribute money from it, Jesus left his thumb print on the fish, bless'ed is the Haddock.
I've heard of his book (never read it, mind) and I'm in agreement with his views that the Eurozone is currently being operated to benefit the Germans (and the French), at the expense of the PIIGS countries. You can't have a currency union without a fiscal union and you need to have transfers between the states to balance things out in the way that they do in the USA. California, for example, pays huge amounts more to the federal government than it receives back. Perversely, the deep red Republican states hate the federal government over there with a passion, even though they receive much more from it than is taken in taxes!
The need for a fiscal union to save the Euro is already apparent to most economists and there have been one or two noises which indicate that the ECB are beginning to realise that they can't go on with their current policies. Whether this will ultimately stop the collapse of the Euro is doubtful, time will tell.
However, the Eurozone is not the EU and membership of the Euro was not required to enjoy the economic benefits of a single market. Whether or not the single market aspect of the EU could continue to exist after a Euro collapse remains to be seen (though it existed before the Euro).
Blyth is completely correct (unsurprisingly as it is his speciality) that austerity across Europe is the problem. It has clearly failed to achieve its aims, has no support in economic theory or practice, yet those in government continue to impose it. Other than the immigration question, most of the economic issues people voting Leave blamed on the EU were actually those imposed by the government's policies! Absolutely nuts.
Seeing as the financial Armageddon didn't materialise I would of thought that the sell out gutless remainers would of been hiding away for a few years, but not our Ginnygimp, just when most of the stubborn section of remainers are now starting to wake up and except Brexit, we have old Ginnygimp come out of the woodwork and try and spin a positive news story into yet another Brexit scare story WTF!
The back peddling by these so called forecasters is pretty amusing now, who could possibly forget the doomsday warnings that Brexit would bring from Osbourne and his mates at the IMF, it doesn't surprise me why so many people voted for remain with scare story's like this. I spoke to a landlord on Bentley street today (you know who I am now if you come on here) and he told me he only voted remain because of the scare story's and that he now feels a bit of an idiot, I imagine he feels like he probably let his country down but he did say how happy he was now with the result.
Anyway these muppets at the IMFare now saying the British economy will grow faster than France Germany and Italy over the next two years, and that we the UK are still on target to be the second fastest growing economy in the G7 behind the USA!!! So after all the bullshit we was fed from the establishment things are not looking to bad, especially when you take into account we now have Nations all over the world queuing up to trade with us once we get shut of the scourge of the EU.
So all positive stuff so far you might think 🙂 but not as far as the treacherous "I want to be ruled by our corrupt EU masters" Ginster is concerned, he wants to pick out the little fact that our (forecasted ) growth for next year will be down on predictions...... Erm yes along with everybody else but still growing faster!
So Ginny time put your dummy back in and get over losing the referendum, it's time you excepted the fact we are leaving the EU whether you and your Guardian like it or not.
You're an adult and you're actually calling him names because he has a different view to you! Ginnygimp?!
Just a little point...but it's 'would have' (or would've), not 'would of'. You couldn't 'of' done anything. Of is not a verb.
You're an adult and you're actually calling him names because he has a different view to you! Ginnygimp?!
Just a little point...but it's 'would have' (or would've), not 'would of'. You couldn't 'of' done anything. Of is not a verb.
Didn't expect to come on here and get a petty English lesson from you, thanks.
But in doing so you do sound just like another bitter remainer who has lost the debate.
Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime. Promise a man someone else's fish and he votes Labour.
Didn't expect to come on here and get a petty English lesson from you, thanks.
But in doing so you do sound just like another bitter remainer who has lost the debate.
If you're as proud of this great country as you claim, you should at least have the decency to have a good grasp of your own language. Chaos missed you mixing excepting with accepting too, two very different words.
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) growth for next year will be down on predictions...... Erm yes along with everybody else but still growing faster!