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Post by sheepy on Apr 26, 2024 16:41:51 GMT
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Post by witchfinder on Apr 26, 2024 17:44:26 GMT
I think that comparing our economic performance to Europe is complicated, mainly because much of Europe has been far more reliant on Russian gas and oil compared to the UK.
The IMF forecast for G7 growth ( published this week ) puts the UK in 6th place with only Germany below us, and with Germany having been heavily reliant on Russian gas, this indicates just how poor the UK's economic performance is.
The runaway leader when it comes to growth in the G7 is Joe Bidens USA, followed by Canada, Europe generally is doing better than the UK, as is the Eurozone, which mostly falls outside the G7.
An even more stark indication of the UKs poor economic performance is Real growth compared to pre-pandemic level ( Quarter 4 of 2019 ), and our real growth since then is just 1%, the second worse in the G7.
I am not an economist, but I would say that SOMETHING is making our economic peformance weak compared to the G7, Europe, the Eurozone and North America.
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Post by Baron von Lotsov on Apr 26, 2024 18:36:22 GMT
I think that comparing our economic performance to Europe is complicated, mainly because much of Europe has been far more reliant on Russian gas and oil compared to the UK. The IMF forecast for G7 growth ( published this week ) puts the UK in 6th place with only Germany below us, and with Germany having been heavily reliant on Russian gas, this indicates just how poor the UK's economic performance is. The runaway leader when it comes to growth in the G7 is Joe Bidens USA, followed by Canada, Europe generally is doing better than the UK, as is the Eurozone, which mostly falls outside the G7. An even more stark indication of the UKs poor economic performance is Real growth compared to pre-pandemic level ( Quarter 4 of 2019 ), and our real growth since then is just 1%, the second worse in the G7. I am not an economist, but I would say that SOMETHING is making our economic peformance weak compared to the G7, Europe, the Eurozone and North America. It's competition from the East. I've been saying it for a very long time but now it is happening to the degree our manufacturers can't keep up. Cars are a big problem for Europe, but they have many sectors facing stronger competition, such as industrial machine tools and microchips. China is making microchips for cars at 70-100 times cheaper. |
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Post by Dogburger on Apr 26, 2024 19:40:15 GMT
Carney is a banker and maybe it was a disaster for him and his mates but it wasn't for me and mine .
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Post by sheepy on Apr 26, 2024 20:30:15 GMT
Carney is a banker and maybe it was a disaster for him and his mates but it wasn't for me and mine . They rely on everyone else being as dumb as rock, either we have a lot of very good actors or for the most part people really are as dumb as a rock. |
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Post by buccaneer on Apr 27, 2024 9:03:51 GMT
I think that comparing our economic performance to Europe is complicated, mainly because much of Europe has been far more reliant on Russian gas and oil compared to the UK. The IMF forecast for G7 growth ( published this week ) puts the UK in 6th place with only Germany below us, and with Germany having been heavily reliant on Russian gas, this indicates just how poor the UK's economic performance is. The runaway leader when it comes to growth in the G7 is Joe Bidens USA, followed by Canada, Europe generally is doing better than the UK, as is the Eurozone, which mostly falls outside the G7. An even more stark indication of the UKs poor economic performance is Real growth compared to pre-pandemic level ( Quarter 4 of 2019 ), and our real growth since then is just 1%, the second worse in the G7. I am not an economist, but I would say that SOMETHING is making our economic peformance weak compared to the G7, Europe, the Eurozone and North America. It's competition from the East. I've been saying it for a very long time but now it is happening to the degree our manufacturers can't keep up. Cars are a big problem for Europe, but they have many sectors facing stronger competition, such as industrial machine tools and microchips. China is making microchips for cars at 70-100 times cheaper. Yep. The G7 have the Brics in their rear view mirror and within two years are projected to overtake the economies of the G7. At least the UK will be apart of the ever growing and biggest middle class market on the planet CPttP. With Net Zero hampering G7 nations and ongoing and predicted growth in the BRICS, European economies look ripe for the picking. Mark Carney blamed inflation on Brexit! lol. A globalist who adhered to the economic orthodoxy of low interest rates forever. That bubble exploded the moment a virus became air born. |
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Post by Baron von Lotsov on Apr 27, 2024 9:55:17 GMT
It's competition from the East. I've been saying it for a very long time but now it is happening to the degree our manufacturers can't keep up. Cars are a big problem for Europe, but they have many sectors facing stronger competition, such as industrial machine tools and microchips. China is making microchips for cars at 70-100 times cheaper. Yep. The G7 have the Brics in their rear view mirror and within two years are projected to overtake the economies of the G7. At least the UK will be apart of the ever growing and biggest middle class market on the planet CPttP. With Net Zero hampering G7 nations and ongoing and predicted growth in the BRICS, European economies look ripe for the picking. Mark Carney blamed inflation on Brexit! lol. A globalist who adhered to the economic orthodoxy of low interest rates forever. That bubble exploded the moment a virus became air born. China has very low and at times negative inflation, so a £50 basket of goods 5 years ago would look about as full as what 50 quid would buy you today, and with quite a few things they are either cheaper, better spec or both. Without Chinese goods, the UK inflation would be a great deal worse. I buy straight from Chinese firms now and simply leave out the middleman. The UK has been marking up prices from China by a factor of five on some low cost goods. |
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