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" Recession Will Be Over By Christmas, Says Imf"

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http://business.timesonline.co.uk/tol/busi...icle6670277.ece

From The Times

July 9, 2009

Recession will be over by Christmas, says IMF

Gary Duncan, Economics Editor, and Philip Webster

Britain’s recession will end this year, with the economy returning to anaemic growth in 2010, the International Monetary Fund (IMF) said yesterday, as it upgraded its view of prospects for the UK and other leading economies.

In a boost for Alistair Darling’s predictions that Britain’s worst postwar slump will be over by Christmas, the IMF sharply raised its UK forecasts for next year.

Shortest lived recession in history? Labour must be getting ready for the GE.

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" Recession Will Be Over By Christmas, Says Imf" :lol::lol:

Well now the IMF had said it I hope that makes the concept of the recession being over By Christmas a credible out come. When I say credible, what i mean is I hope i can place a bet on it not happening by christmas and get reasonable odds at the bookies. I'f I could get evens on in i'd pull all my cash out the bank and run to the bookies now!

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QE= growth.

not real, wealthy type growth.

just growth in the numbers.

therefore, wealth= lower, yet recession is ended.

QE(D)

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http://business.timesonline.co.uk/tol/busi...icle6670277.ece

From The Times

July 9, 2009

Recession will be over by Christmas, says IMF

Gary Duncan, Economics Editor, and Philip Webster

Britain’s recession will end this year, with the economy returning to anaemic growth in 2010, the International Monetary Fund (IMF) said yesterday, as it upgraded its view of prospects for the UK and other leading economies.

In a boost for Alistair Darling’s predictions that Britain’s worst postwar slump will be over by Christmas, the IMF sharply raised its UK forecasts for next year.

Shortest lived recession in history? Labour must be getting ready for the GE.

Does anybody have any inside knowledge of how the IMF works.

These announcements seem to always come out at some politically sensitive time (current G8 meeting) and have a political twist to them. Obviously the IMF relies on contributions from the rich countries to maintain its activities and I wonder how free it is from spin.

This announcement has spin written all over it and there is no explanation why the outlook for the UK has changed so much in just a few weeks especially now that the stock market rally has petered out

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Does anybody have any inside knowledge of how the IMF works.

These announcements seem to always come out at some politically sensitive time (current G8 meeting) and have a political twist to them. Obviously the IMF relies on contributions from the rich countries to maintain its activities and I wonder how free it is from spin.

This announcement has spin written all over it and there is no explanation why the outlook for the UK has changed so much in just a few weeks especially now that the stock market rally has petered out

I think the IMF is "owned" by the UK & US so it does as it is told.

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http://business.timesonline.co.uk/tol/busi...icle6670277.ece

From The Times

July 9, 2009

Recession will be over by Christmas, says IMF

Gary Duncan, Economics Editor, and Philip Webster

Britain’s recession will end this year, with the economy returning to anaemic growth in 2010, the International Monetary Fund (IMF) said yesterday, as it upgraded its view of prospects for the UK and other leading economies.

In a boost for Alistair Darling’s predictions that Britain’s worst postwar slump will be over by Christmas, the IMF sharply raised its UK forecasts for next year.

Shortest lived recession in history? Labour must be getting ready for the GE.

Cool i'll pop down to DFS and my local Audi garage on the way home tonight.

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QE= growth.

not real, wealthy type growth.

just growth in the numbers.

therefore, wealth= lower, yet recession is ended.

QE(D)

Exactly.

The recession may be over by Christmas, technically speaking. What about the debt though?

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Guest theboltonfury

We really need to make up our mind who are credible sources. One day the IMF are fools the next they are economically shrewd according to much of this forum.

EG - they say our economy is much worse then we think. We herald them as wise old heads and nod approvingly. Now they say 'over by Xmas' and we laugh at their delusion.

Which is it?

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We really need to make up our mind who are credible sources. One day the IMF are fools the next they are economically shrewd according to much of this forum.

EG - they say our economy is much worse then we think. We herald them as wise old heads and nod approvingly. Now they say 'over by Xmas' and we laugh at their delusion.

Which is it?

To be fair, some here just see the IMF as the US puppet that it is. It makes me chuckle when some here invoke the name IMF as though it has actual independent power to do 'the right thing'. In reality it's largely a US proxy used to bully the third world ( or the US political enemies ).

Edited by HumanAction

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QE= growth.

not real, wealthy type growth.

just growth in the numbers.

therefore, wealth= lower, yet recession is ended.

QE(D)

exactly <thumbs up>

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We really need to make up our mind who are credible sources. One day the IMF are fools the next they are economically shrewd according to much of this forum.

EG - they say our economy is much worse then we think. We herald them as wise old heads and nod approvingly. Now they say 'over by Xmas' and we laugh at their delusion.

Which is it?

+1

Laughable isn't it.

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We really need to make up our mind who are credible sources. One day the IMF are fools the next they are economically shrewd according to much of this forum.

EG - they say our economy is much worse then we think. We herald them as wise old heads and nod approvingly. Now they say 'over by Xmas' and we laugh at their delusion.

Which is it?

The trouble is the IMF, OCED etc... all have different people writing different opinions.

They are covering all bases, I bet if you through all of there reports you would finding conflicting opinions.

Which is why you get it's over by Xmas along with reports saying it's going to get worse.

You pay your money and you take your pick. Although this report seems quite nicely timed with the G8 meeting.

Make of that what you will.

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Actually what they said was that the UK economy would grow by 0.2% in 2010. Therefore we are unlikely to see any growth until the 3rd quarter even by that prediction. We should still see house prices dropping that winter so this doesn't change my plan of buying in Spring 2011.

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We really need to make up our mind who are credible sources. One day the IMF are fools the next they are economically shrewd according to much of this forum.

EG - they say our economy is much worse then we think. We herald them as wise old heads and nod approvingly. Now they say 'over by Xmas' and we laugh at their delusion.

Which is it?

hmmmmm good point! So which is it?

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Guest theboltonfury
hmmmmm good point! So which is it?

FWIW I think we are about to be screwed economically - good and proper. I am just having a little protest at the culture on here of chopping between credibility and absurdity of sources depending on what point an individual is trying to make.

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FWIW I think we are about to be screwed economically - good and proper. I am just having a little protest at the culture on here of chopping between credibility and absurdity of sources depending on what point an individual is trying to make.

But isn't that the point of posting on a forum!

It's a bit like a big circular pub argument, everyone busily filleting 'evidence' to bolster their own rhetoric.

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Guest theboltonfury
But isn't that the point of posting on a forum!

It's a bit like a big circular pub argument, everyone busily filleting 'evidence' to bolster their own rhetoric.

In a forum though your comments hang around for months so all can see. In a pub, often they slip in to a drunken haze within minutes.

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We really need to make up our mind who are credible sources. One day the IMF are fools the next they are economically shrewd according to much of this forum.

EG - they say our economy is much worse then we think. We herald them as wise old heads and nod approvingly. Now they say 'over by Xmas' and we laugh at their delusion.

Which is it?

You mean we need a nice bit of group thinking?

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You mean we need a nice bit of group thinking?

when bankers say anything, you need to read the code.

"all over by christmas" could mean a UK IMF bailout.

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when bankers say anything, you need to read the code.

"all over by christmas" could mean a UK IMF bailout.

Hey, or swine flu will have wiped us all out.

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The "experts" cannot even agree whether it will be over as soon as Christmas making the Great Recession/Depression the shortest lived financial crash in history or whether it will linger on for the usual 5-7 years:

http://www.bloomberg.com/apps/news?pid=206...id=asi5UhS6Bmuo

Standard Life Makes ‘Chilly’ Scottish Widows Sound Optimistic

Share | Email | Print | A A A

By Rodney "Rodders" Jefferson

July 9 (Bloomberg) -- Less than two miles of 19th century streets separate Edinburgh’s biggest fund companies. When it comes to their views on the economy, there’s more distance.

Standard Life Investments, which oversaw 118 billion pounds ($193 billion) as of March 31, is predicting another year-and-a- half of gloom. Scottish Widows Investment Partnership, manager of 77 billion pounds, expects a recovery before then.

There are “signs the weather is getting less chilly and potentially the green shoots are going to emerge,†said Richard Dingwall-Smith, chief economist at Scottish Widows. His counterpart at Standard Life down the road, Douglas Roberts, said he doesn’t “really expect a significant global recovery, certainly over the next 18 months.â€

The divide in the Scottish capital captures the gulf worldwide as optimists and pessimists try to gauge whether policy makers have taken the right steps to escape the worst slump since World War II. The International Monetary Fund in Washington yesterday raised its forecast for 2010 economic growth. The World Bank, just across 19th Street Northwest, on June 22 cut its growth prediction for next year.

Also last month, Jim O’Neill, Goldman Sachs Group Inc.’s chief economist, said he saw “green shoots†turning into “tulips and daffodils†as an economic recovery takes root. HSBC Holdings Plc Chairman Stephen Green said “we cannot even say we are past the worst.â€

FWIW, I see the current situation as Wiley Coyote having fallen of the edge of the cliff but he is hanging onto a slim branch ready to continue the drop to the bottom of the chasm. Professor Herbert Krappenschitz described this situation as the "ledge phenomena" ("Die economie ist kaput, ganz sicher" 2008).

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