Topic: I feel the report about UK economy losing 700 billion is wrong!!! (Read 275 times)
The corona virus has damaged the economies of the many countries round the world but i do not think the united kingdom economy has lost 700 billion dollars. The us has recovered its economy much faster than other countries the speed of inflation is now more important than ever because the economy remains uncertain but it all depends on what measures are taken to stop the spread of the coronavirus and infection much depends on the business the financial market and therefore the family situation. Inflation is rising within the us if the present inflation doesn't decrease the economy will rise rapidly inflation are going to be allowed to rise further to offset the loss of covid.
Nope, the report is accurate. When the UK locks down businesses and raises the unemployment rate, the only predictable outcome is an economic recession. The vaccine is being administered, that doesn't change the fact that commerce was basically completely halted, people left their jobs, and government began printing money. There will be ramifications (good for bitcoin, but unironically)
Well, I think that it is accurate too since they have the instruments to measure how much losses there is and OP thinking that there's something wrong with the report doesn't have any proof that it is wrong because OP doesn't have any means to prove it. The vaccine rollout will significantly help with the economic losses because it will return the workforce. That is why we should not trust the common news. Big media tends to create FUD, chaos and misleading with propagandas. England is one of the best countries in Europe with high percent of being vaccinated. The economy will bounce back and together with the US, they will overtake the China and stop them from trying to assimilate the global finance
Is there going to be a recovery? Yes of course and that is true for almost any country around the world but it is difficult to see how are they going to stop China from achieving a position of global dominance over the economy when the dollar is being printed at a rate that years ago it could have seemed impossible.Now I understand that China is in no position to impose their currency either as they manipulate that aspect of their economy as well, but the dollar used to have the confidence of the people and now that confidence is evaporating as we speak as more and more money is pumped into the system, and without a strong dollar the US cannot remain above China in economic terms.
If it’s not just about the type of vaccine, then it’s possible for this to happen again anywhere in the world.
Most likely that's the cause:
Top Chinese official admits vaccines have low effectiveness
They've rushed that vaccine as a form of propaganda to smaller and poorer countries and this is going to backfire.
Chile was sending alarm calls for a while, in extreme cases with that efficiency you could basically halve the numbers of vaccinated people, Seychelles might have 60% but if the vaccine worked for only half of them it means they are just like the average EU country at this point, but with a dangerous variant, an influx of tourist and no restrictions that all combined have fueled the spread.
And there is also one more aspect I couldn't find simple google searches, who percentage of the new cases are locals and how many of those infected are tourists?
I wonder how effective Sputnik is, Hungary is the global leader percentage of deaths to population, doing two times worse than neighboring Romania who uses Pfizer.
Anyhow, probably we'll find out sooner than expected, the new Indian variant is already in the Uk from the start of the month, let's see how this will turn out.
Oh, and one more thing, probably the number of infections will not be that important as the number of deaths from it.
The key reason for my analysis is that UK has vaccinated over 60% of it’s population, and this means that soon it’ll be business as usual for them, and hence their economy will be able to bounce back faster and stronger than what the economists had initially predicted.
News has surfaced these days of how Seychelles (the nation with the most vaccinated people with two doses) is facing a new wave of infection, of which as many as 37% have received two doses of the vaccine. It should be noted that this is a vaccine from a Chinese manufacturer (Sinopharm) and the rest from Covishield (Indian version of AstraZaneca). If it’s not just about the type of vaccine, then it’s possible for this to happen again anywhere in the world.
Seychelles, which has vaccinated a higher proportion of its population against COVID-19 than any other country, is facing a fresh surge of infections. The island nation has closed schools and cancelled sporting activities for two weeks as the number of active coronavirus cases has more than doubled since last week. Since last week, the number of active coronavirus cases has more than doubled to 2,486 people. Of these, 37 percent of the population have received both the vaccine doses, as per the report.
Well, the Guardian will usually put the accent on the most pessimistic of the options when a Conservative is leading the country. Anyway, there is a price to pay for breaking up with the EU and then having a COVID crisis.
Do not get me wrong, I am not saying that Brexit is bad in the long term, but I am saying that there is a price to pay in the short term and that the advantages, if any for the general public, are yet to be proven. The UK has taken a risk that could eventually end up with a loss like the one described in your post.
Do not get me wrong, I am not saying that Brexit is bad in the long term, but I am saying that there is a price to pay in the short term and that the advantages, if any for the general public, are yet to be proven. The UK has taken a risk that could eventually end up with a loss like the one described in your post.
I think the reason for that it feels wrong is that they are inflating the losses so they can go for more taxes that will help them recover the inflated numbers, not to mention that with the inflation of numbers, they can slip in more money in their pockets since there isn't a lot of losses in the first place.
I understand that 700 billion could be wrong, or it could be right, after all economists know about this stuff than you and me and just because you "think" they are wrong doesn't make you right, it makes you someone with no education on this field (if you do go write a counter article about it and put that forward) going against people who spent decades becoming professionals at the job, its like saying I think Lebron will miss a shot I can make, makes no sense.
However even if we take your reasoning at hand it shows why you are wrong, you say it will be "better" because of vaccination which I am sure it will be better than right now, but that doesn't change the fact that so many people lost so much money already so going back into business will not be easy, people do not have money they used to have to help business' make a profit.
Let's not forget that there are a large number of such economists and professionals, and different groups or individuals make different forecasts with the same different figures, and it is up to you to trust their forecasts or not to the best of your competence However even if we take your reasoning at hand it shows why you are wrong, you say it will be "better" because of vaccination which I am sure it will be better than right now, but that doesn't change the fact that so many people lost so much money already so going back into business will not be easy, people do not have money they used to have to help business' make a profit.
Here it is necessary to talk about a favorable and not very favorable scenario of the development of events, and I think 700 billion just from the area of the unfavorable scenario. In any case, lockdowns and border closures can not pass without a trace for the economy and no vaccination will be able to return lost profits and return losses to the agents of the economic process.
Nope, the report is accurate. When the UK locks down businesses and raises the unemployment rate, the only predictable outcome is an economic recession. The vaccine is being administered, that doesn't change the fact that commerce was basically completely halted, people left their jobs, and government began printing money. There will be ramifications (good for bitcoin, but unironically)
I understand that 700 billion could be wrong, or it could be right, after all economists know about this stuff than you and me and just because you "think" they are wrong doesn't make you right, it makes you someone with no education on this field (if you do go write a counter article about it and put that forward) going against people who spent decades becoming professionals at the job, its like saying I think Lebron will miss a shot I can make, makes no sense.
However even if we take your reasoning at hand it shows why you are wrong, you say it will be "better" because of vaccination which I am sure it will be better than right now, but that doesn't change the fact that so many people lost so much money already so going back into business will not be easy, people do not have money they used to have to help business' make a profit.
However even if we take your reasoning at hand it shows why you are wrong, you say it will be "better" because of vaccination which I am sure it will be better than right now, but that doesn't change the fact that so many people lost so much money already so going back into business will not be easy, people do not have money they used to have to help business' make a profit.
That is why we should not trust the common news. Big media tends to create FUD, chaos and misleading with propagandas. England is one of the best countries in Europe with high percent of being vaccinated. The economy will bounce back and together with the US, they will overtake the China and stop them from trying to assimilate the global finance
Additional Information:
theguardian.com
theguardian.com
Yeah, that's enough.
The guardian is a leftist newspaper that has tried in vain with articles like that to stop the slaughter in the election when the LP got trashed, they've put all their money on the disaster with the virus and now they can't get out of it, every single person in the UK sees the numbers and can't think of a way to attack Boris anymore on that subject.
As for the NIESR, they are one of those "think tanks" that think whatever the guys paying them say. And they are getting funds from the people whose businesses have been impacted by Brexit. Although I'm not on brexiters side as I always believed in a strong EU at the same time it's pretty obvious a lot of the claims are highly exaggerated.
Btw, a new article from the Guardian published today admits with 1/5 of the mouth that the numbers are not that bad after all
https://www.theguardian.com/business/2021/may/12/uk-economy-rebounds-in-march-after-rapid-covid-vaccine-rollout
What if the vaccines don't provide protection for more than 1 year?
Then you get another shot next year, just like with common flu.
The problems were at first when there was no vaccine and insane demand, mass-producing those doses next year will be a piece of cake compared to the risks of another wave of similar proportions.
The key reason for my analysis is that UK has vaccinated over 60% of it’s population, and this means that soon it’ll be business as usual for them, and hence their economy will be able to bounce back faster and stronger than what the economists had initially predicted.
Its not going to bounce back per se but atleast it would be better than their current state because UK's GDP mainly comes from services sector and Manufacturing so it depends on export. That means if the whole world hasnt gone back to normal yet that might affect UK as well but atleast it wont be as worse as we thought it would be
I'm constantly surprised by the different opinions offered on these topics. Its an interesting world we live in where everyone wants to complain and be offended. And very few seem to care enough to try to research or educate themselves on the fundamental facts of these topics.
So far there is no proven method on how to handle these stuff yet. Some country has opted to resume their whole economy system even with majority of the population hasnt been vacinnated yet which is bad from my own POV but they gotta do what they gotta do
What if the vaccines don't provide protection for more than 1 year?
I think you need to learn how vaccines works before you post this question
Do you have any backing claim that there is something wrong with their counting though? I know that people are complaining about their own government but at the least there must be some evidence that they did inflate the numbers to make it look worse, also I don't get how the government is going to benefit from this inflation of numbers.
There is a mixture of news but it is widespread that the vaccine does not really offer immunization. I don't know which particular vaccines, though. At least to someone who's got it from Pfizer, he/she may still be infected with the virus and will remain to be contagious. It seems the vaccine is not strictly a vaccine as it does not immunize but only prevents possible infection from getting severe. Not to mention that the virus has already mutated into several variants, some of which might be beyond the effectivity of the vaccines.
Each Covid-19 vaccine gives immunity to the person being vaccinated, except that the percentages of immunity levels are different - so the AstraZeneca vaccine is said to protect in only 60% of cases - but to protect against severe disease in 100% of cases. In other words, it's not about people not getting infected, it's about not developing a severe form of the disease and ending up in a hospital with a fatal outcome.
Given that the costs of hospital treatment are very high and that the UK has a very small number of intensive care beds and medical staff in general (compared to the EU), relieving the medical system means a lot in financial and psychological terms.
There are already a lot of cases of people who have received 2 doses of the vaccine (from any manufacturer) and still become infected - so I don't think precautions should be completely abolished after vaccination - masks and hand disinfection should still remain one of the main ways to protect against virus.
What if the vaccines don't provide protection for more than 1 year?
I saw some medics saying that the people will have to vaccinate against COVID every year.I don't know if this is true,it's still a mystery for how long the vaccines can provide effective protection.
The UK economy has a big export and the export will grow only if all the other countries get rid of the pandemic and the economic crisis.
There was a trading agreement between the UK and the EU,so I don't think that Brexit will have such a big impact over the future of the UK economy.
I saw some medics saying that the people will have to vaccinate against COVID every year.I don't know if this is true,it's still a mystery for how long the vaccines can provide effective protection.
The UK economy has a big export and the export will grow only if all the other countries get rid of the pandemic and the economic crisis.
There was a trading agreement between the UK and the EU,so I don't think that Brexit will have such a big impact over the future of the UK economy.
The key reason for my analysis is that UK has vaccinated over 60% of it’s population, and this means that soon it’ll be business as usual for them, and hence their economy will be able to bounce back faster and stronger than what the economists had initially predicted.
Just like the result on Israel where they vaccinated over 60% of their population and now they are back to normal, missiles are in the air again. Anyway, even if you vaccinated most of the population I don't think the economy can recover that easily, and this pandemic brings out how competitive the government are, many countries are still suffering and UK is part of top list on most number of Covid-19 cases, that's why its not easy to recover, losing billion of Money is already part of the Economic recession, its happening.
A country's recovery cannot be measured by how many people have been vaccinated, because it is a public fact that the vaccine has a limited effect and does not protect 100% from infection. At this point, it is not possible to say with certainty how long immunity will last in people who have been vaccinated - but some analyzes say that it could be around 8 months - which means that all those who are vaccinated at the beginning of the year may be exposed to the infection again next winter.
What is an additional weight for the UK economy is of course Brexit and there is no dilemma, the numbers are clear, and they say that last year was the worst in the past 300 years. An important part of the UK economy is tourism, which accounts for about 10% of total revenue and employs just under 4 million people - and we all know that mass travel will not happen this year, and perhaps not even next.
Long-term forecasts can sometimes be wrong, but I don't think experts have gotten such a figure up their sleeve - the fact is that the UK has the biggest economic downturn that is not only the result of a pandemic, but also Brexit.
What is an additional weight for the UK economy is of course Brexit and there is no dilemma, the numbers are clear, and they say that last year was the worst in the past 300 years. An important part of the UK economy is tourism, which accounts for about 10% of total revenue and employs just under 4 million people - and we all know that mass travel will not happen this year, and perhaps not even next.
Long-term forecasts can sometimes be wrong, but I don't think experts have gotten such a figure up their sleeve - the fact is that the UK has the biggest economic downturn that is not only the result of a pandemic, but also Brexit.
Same opinion here. In a highly globalized setup, and most especially to a country where tourism is one of the top 4 GDP contributors, even inoculating 100% of your population does not mean full recovery. So the economic effect of this pandemic, and Brexit as well of course, may certainly extend up to the next half a decade.
There is a mixture of news but it is widespread that the vaccine does not really offer immunization. I don't know which particular vaccines, though. At least to someone who's got it from Pfizer, he/she may still be infected with the virus and will remain to be contagious. It seems the vaccine is not strictly a vaccine as it does not immunize but only prevents possible infection from getting severe. Not to mention that the virus has already mutated into several variants, some of which might be beyond the effectivity of the vaccines.
Every country have their own criticism and we cannot blame them if they see their own government is not working that much and didn’t work based on their satisfaction. If you’re looking into a worlds economy, you’ll see every country is still suffering and they can’t recover that easily so expect the recession to last until the end of this pandemic.
It seems they're criticizing the UK and Boris Johnson for retaining an open economy rather than implementing full COVID lockdowns. Florida and texas in the USA also opted for open economies rather than lockdowns. There was also sweden which opted for the herd immunity open economy approach for a time.
Both florida and texas claim success with an open economy format. While residents of COVID lockdown economies like new york and california are losing residents (jobs and businesses) in record numbers.
From an observer's perspective, we have a few points of reference we might utilize in an effort to vet the accuracy of media claims. I'm constantly surprised by the different opinions offered on these topics. Its an interesting world we live in where everyone wants to complain and be offended. And very few seem to care enough to try to research or educate themselves on the fundamental facts of these topics.
Both florida and texas claim success with an open economy format. While residents of COVID lockdown economies like new york and california are losing residents (jobs and businesses) in record numbers.
From an observer's perspective, we have a few points of reference we might utilize in an effort to vet the accuracy of media claims. I'm constantly surprised by the different opinions offered on these topics. Its an interesting world we live in where everyone wants to complain and be offended. And very few seem to care enough to try to research or educate themselves on the fundamental facts of these topics.
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