UK economy to crash in 2023

[Nick]

But that was a view from a quarter ago. The BoE's forecast was made today...

In the same breath they are correcting their predictions from the last forecast. The only think that is consistent is the amount of time they get it wrong. 

[Nick]

Not according to the EU, which expects both Germany and Sweden to under perform the UK in 2023


https://www.politico.eu/article/eu-winter-recession-growth-euro-area-ukraine-war-invasion-inflation-energy-crisis/

Strange how these things are always brought up in isolation, they never mention how other countries are doing, same as us of course. 

[patman post]

Not according to the EU, which expects both Germany and Sweden to under perform the UK in 2023


https://www.politico.eu/article/eu-winter-recession-growth-euro-area-ukraine-war-invasion-inflation-energy-crisis/

But that was a view from a quarter ago. The BoE's forecast was made today...

[Borchester]

Whatever spin the chancellor and government supporters put on forecasts, the UK is still underperforming its rivals — and the Truss disaster has cost it both in money and reputation...

Not according to the EU, which expects both Germany and Sweden to under perform the UK in 2023


https://www.politico.eu/article/eu-winter-recession-growth-euro-area-ukraine-war-invasion-inflation-energy-crisis/

[patman post]

IMF is a decent forcaster of tin pot nations economies in Africa . Not so good in grown ups company especially since Legarde took the riegns .
Its probably a report thats a few months out of date anyway

Keep on rocking in the free world

Excerpts from https://news.sky.com/story/bank-of-england-hikes-interest-rates-by-0-5-percentage-points-in-tenth-consecutive-rise-12801269

The Bank of England has raised UK interest rates by a further half percentage point to 4% ..... The Bank also upgraded its forecast for the economy.

While it still projects a technical recession this year, it would be a very shallow recession, with overall growth falling by 0.5% in 2023....

Moreover, because of the fall in national income projected this year, it now expects that the size of the economy will still be at 2019 levels in 2026 - a full seven years of lost growth.

Whatever spin the chancellor and government supporters put on forecasts, the UK is still underperforming its rivals — and the Truss disaster has cost it both in money and reputation...

[Streetwalker]

In my admittedly limited experience, a major problem is that  most builders are potty.

Just before Christmas we had a builder friend round at the Rural Ruin and he asked if we wanted to sell. So we said no, but what would he do with the house anyway? And he said that he would knock it down and replace it with a block of four flats, which meant that before he had laid a brick he had spent the price of a large detached property and then he hoped to recover this by building four much smaller rabbit hutches. And he looked at me and looked at his feet and grinned weakly and said yeah, but it would be fun. And when I explained that the weakness of his business plan was that he was a total prat, he nodded, but was still grinning.

The problem is, that most builders just like building things

Which is why the economy won't crash . We will just get our heads down and keep building ,whatever the rewards .

[Borchester]

Even if they built the houses Cornwall like every other area would have to take its quota of migrants , immigrants and refugees .

Be carefull what you wish for

In my admittedly limited experience, a major problem is that  most builders are potty.

Just before Christmas we had a builder friend round at the Rural Ruin and he asked if we wanted to sell. So we said no, but what would he do with the house anyway? And he said that he would knock it down and replace it with a block of four flats, which meant that before he had laid a brick he had spent the price of a large detached property and then he hoped to recover this by building four much smaller rabbit hutches. And he looked at me and looked at his feet and grinned weakly and said yeah, but it would be fun. And when I explained that the weakness of his business plan was that he was a total prat, he nodded, but was still grinning. 

The problem is, that most builders just like building things

[Streetwalker]

Borchester, I support charities who support homeless people. The ONLY thing that can solve the problem is Cornwall is 20000 council houses for local people only.

Even if they built the houses Cornwall like every other area would have to take its quota of migrants , immigrants and refugees . 

Be carefull what you wish for 

[papasmurf]

I am not suggesting that you don't talk the talk, but when it comes to actually doing something, well, that is a different matter.

Not that I blame you Pappy. If I owned Smurf Hall I would not want the great unwashed anywhere near the place either

Borchester other than donate to the relevant charities and food banks there is nothing I can do. (At least nothing I would state on an internet forum. (There is barely enough room for the two of us in my home.)

[Borchester]

Borchester, I support charities who support homeless people. The ONLY thing that can solve the problem is Cornwall is 20000 council houses for local people only.

I am not suggesting that you don't talk the talk, but when it comes to actually doing something, well, that is a different matter.

Not that I blame you Pappy. If I owned Smurf Hall I would not want the great unwashed anywhere near the place either

[Borchester]

Borchester, I support charities who support homeless people. The ONLY thing that can solve the problem is Cornwall is 20000 council houses for local people only.

[papasmurf]

It strikes me Pappy, that you talk a good battle about helping the homeless, but when it comes to actually doing something about it, well...............

Borchester, I support charities who support homeless people. The ONLY thing that can solve the problem is Cornwall is 20000 council houses for local people only. 

[Borchester]

What part of I would not ever be a private landlord on principle did you not understand.  Also my property could not be split into two dwellings for reasons I have already posted.

It strikes me Pappy, that you talk a good battle about helping the homeless, but when it comes to actually doing something about it, well...............

[papasmurf]

Get someone on benefits. They would not pay the rent and would trash the place, but think how good you would feel about yourself

What part of I would not ever be a private landlord on principle did you not understand.  Also my property could not be split into two dwellings for reasons I have already posted.

[Borchester]

You have no idea how small my bungalow is. It could not under building regulations and the specific regulations applying to the area by divided up. Also being a private landlord is totally against my principles.

Get someone on benefits. They would not pay the rent and would trash the place, but think how good you would feel about yourself