The UK Economy Just Flipped.

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Information The UK Economy Just Flipped.

Title	:	The UK Economy Just Flipped.
Lasting	:	12.25
Date of publication	:
Views	:	118 rb

If you are wondering why things look a bit different to my normal videos? I had a hair cut Here is the link to The Daily Upside bitly/44pU0F5 It is completely free to sign up
Comment from : @DamienTalksMoney

When the Great Depression and other huge catastrophes occurred, I used to believe that everyone went bankrupt, but they didn't Some made millions; I also assumed that everyone closed their businesses during these times, but certain did start new ones It all depends on your point of view; there will always be moments of prosperity for some individuals and times of depression or recession for others My main concern now is how can we generate more revenue during quantitative times? I can't afford to see my life savings of $200k crumble to dust
Comment from : @ajayrajesh4427

This is a firefighter attitude to reporting national accounts I came to UK from a country, where the government was doing the exact same thing and almost in the same way, back in the recession of 08 So, simply put ONS and Gov are full of sh t History proved already that my beloved Romania was full of shit back in 08 But it changed since And one disturbing and enlighting information came this summer Poland will surpass UK in standards of living by 2032 And after a long time I had again a Eureka moment I would only add "Not just Poland" It's painfull and heartbreakingly hilarious to see the United Kingdom of Great Britain and Northern Ireland, my new home, is de facto no longer a G7 country, but one in the developing world, a frontier economy, as those are being called So, fantastic job We shot ourselves in the foot, only to wipe out more than half the body
Comment from : @andrea2007andrea2007

ONS impartial my aspic!
Comment from : @justjacqueline2004

So everything is OK Brexit is brilliant
Comment from : @MegaKapo12

It is refreshing to listen to someone who relates complex matters in a way thats digestible and interesting to us “minions”
Comment from : @adrianlane4256

Nominal growth only in 🇬🇧, we havnt has real growth since 2007
Comment from : @TheFourSatoshis

THANK YOU FOR SAYING "proven/disproven" rather than going with what the text said "proved" I've never understood why we would deliberately made an exception to the pretty firm rule of perfect participle being "-en" after the V
Comment from : @daysandwords

What if the ONS have rectified and admitted the error one year before a general election to reinforce Tory power grabbing? Error or not the way Tories have conducted business is disgraceful and they need to go
Comment from : @edwin-38

Horse Manure
Comment from : @philsheppard532

I'm glad I saw that! Don't sit around all day complaining about the economy or waiting for a miracle Invest today in something productive that will not only help you save money but also make a profit Today, I can boast a portfolio of almost a million dollars, which I have achieved through consistent investing and also through working with an investment advisor
Comment from : @martinpeterson9115

Unbelivable Eussr have asset stripped uk since blair gave away control
Comment from : @richardtruthconquersall9226

The UK has the highest inflation and the lowest labour productivity in the G7 Inward investment has driedbrup and the disastrous Brexit has cut 15 off GDP The UK is a failing service economy dependent on low value, low productivity and low wages That's why most experts believe it's an economic basket case
Comment from : @Sabhail_ar_Alba

I love your videos, but please stop saying ‘math’ In the UK it’s mathematics or maths
Comment from : @gregoryjacobd

44 billion that's great news for the migrants because the UK people will never see any of it
Comment from : @dockaos924

Maths
Comment from : @garygrieves6752

this is absolutely crazy people suffering left and right and these MF "woopsies we were MEGA WRONG" but anyway I don't really believe anything would have really changed even with these numbers in the end we still have plenty of problems about lack of work force, supply, rent and cost of living in general this country still pretty much fucked if we keep going in this direction IMO
Comment from : @aizel330stream

So what? They found 44 BILLION, that you'll never see After the muh, political class get thier grubby mitts on it we will see NOTHING from itbrNothingbrNadabrZilch I'm just going on past experience
Comment from : @micklawton1934

Tory lies no doubt
Comment from : @oktc68

You mean the television mislead us?
Comment from : @goodcat1982

Well, the advert I got was for Gorrilla tape Which is about right That money is already spoken for, it just wasn't accounted for We're still at the back of the G7
Comment from : @michaelmacdonell4834

Awesome So there's money for the World Class NHS that was promosed in 2010, now? 😅
Comment from : @uplink-on-yt

First time I have viewed any content from this channel, and I'm impressed by the clarity and no-nonsense/jargon approach As well presented as it was informative
Comment from : @philiplbrown

One of the best YT channels, I'm glad to have found you! Your content and how you deliver it is 10/10
Comment from : @SimpTechMedia4D

£1 in 1988 is the equivilent of £265 today, october 2023, (source: bank of england) The average inflation was 280 over the 35 year period from 1988 to 2023 Thats an inflation rate of 165 Objectively and factually, someone in 2023 has 165 less purchasing power than someone in 1988 GDP is manipulated alongside inflation data This is compounded by cost of living increasing massively, housing increased massively, etc So not only do you have 165 less purchasing power, but compounding effects increase the cost of housing and good even more
Comment from : @lzl3lol

We're entering the City's bonus period
Comment from : @nizviz

The company I work for absolutely grew sales exponentially through covid, I work with the analytics and web dev, YOY online sales only (They have an internal system that links from web to internal so I am not counting probably equal and more sales internally) increase from 2019 to 2020 was 500, 2020 to 2021 saw an increase of 300 compounding the previous year, and 2021 to 2022 saw a decrease of 50, and 2022 to 2023 so far has been relatively the same, seeing pre-covid average sales, with a 1-5 increase/decrease month by month However the company is still struggling because the boss took all of the profit out of the company from these years and bought a new house Fuckin niiiceeeeeeee
Comment from : @theidolul3336

😂 3:34
Comment from : @idontcarefuku

Jonathan Pie put it best br“We don’t live in a society anymore, we live in an economy”
Comment from : @ljturner185

But would you send in the data on time?
Comment from : @deal2live

The ECB also produces revisions in its reports! All the G20 have the same issuebrWhen we get CDDB we will have GDP in real time! LOL
Comment from : @deal2live

One thing I came across was that the ONS does the figures really quickly compared to other countries and updates them later So this isn't too unsurprising The magnitude is surprising, yes, but it's been a totally bizarre set of circumstances over the last few years
Comment from : @ao-b2774

Wow, what an amazing find - it's almost as if someone had deliberately messed around with the numbers to drive a negaitve post-Brexit narrative Oh gee, what am I talking about - surely that can't be possible!
Comment from : @Tarrimaster

Please tell me the song at 2:45 Its on the tip of my tongue but I can't remember it! I know I've listened to it a lot and it's a great song but I can't remember it Please!
Comment from : @chilldude30

It won't make a difference, because they will either use it to lower the deficit or spend it on stupid stuff like defence or raising salaries of politiciansbrYou obviously don't know how the moderen state finances work
Comment from : @pepegalego

GDP isn't an indicator of how well most people in a country are living anyway We have more foodbanks than branches of McDonalds which is a disgrace 42 million children are living in poverty after housing costs
Comment from : @chrysalis4126

yeah, sure, straight out of the creative accounting dept
Comment from : @lw1zfog

So, the closed shops and pubs are an illusion My personal position, of being poorer, despite working, an illusion too?
Comment from : @jujuUK68

Analyst have a good technique that makes statistics look better I presume this is it
Comment from : @northernermusicuk5259

Rapist police Pedofilic culture cose in arabia that is punished severely Only the west rapes children In effect uk foulbrbrLook at soho prostitution same houses every year Same place Yet although ilegal never disturbed brbrBoycott shady england or b part n parcel to this disasterous situationbrbrBoycott uk now
Comment from : @naughtykid8850

I have to cast a cynical eye on this new found economic optimismbrbrThere's rumours of a spring electionbrCoincidence?
Comment from : @stuartd9741

People addicted to hating
Comment from : @Grizzlyjesse

Anyone living in the UK or any country that has gone through a serious depression/ recession knows it isnt as bad as people were saying it was How could it be brbrYou would notice it far more, those previous figures have demonstrable and visible characteristics All the ones people were exhibiting were tenuous and often quite ridiculous
Comment from : @encyclopractica

That’s quite a lot to find down the back of the sofa
Comment from : @DailyDividends

Perhaps having a general election next year might have something to do with it Let's face it, RS is desperate for any and all vote winning news
Comment from : @makalu69

I don't think it's a cock up, I think it's deliberate,
Comment from : @speedbagwizard9880

The ONS and the BOE are been used by the Tories to set out their next election strategy deliberately misleading information can have both a positive and negative outcome ,the reality is certainly shrouded in Tory fog as they know that poor economic activity is key to less investment and a down turn in the economy ,reality check for Hunt is on its way no matter how much he tries to pull a rabbit out of the Tory Top Hat
Comment from : @DomenicNicosia-bs8qd

As long as crazy TAX will be around it will never be good
Comment from : @ashton82

Good now send it to Ukraine
Comment from : @bobbula1268

Wait you are talking about surveis These numbers can be calculated correctly by tax Everything sold has a tax and all company investments into stock are filled to not pay tax on the money spent on production The part that they changes methodoly means that it may be even more incorrect now as well
Comment from : @mindaugas884

Join the English constitution party
Comment from : @AngloSaxon449

I live in Germany Can you please explain what I should be looking at over here that clearly indicates that Germany is "recovering" more slowly than the UK? Please supply me with clear examples Thanks
Comment from : @cosmicdebris2223

I went to the UK back in August and I wouldn't say economy is doing well, at all
Comment from : @HummusLad

It’s not that surprising the media didn’t report as much on this The ONS regularly revises it’s figures and last year revised down GDP this may happen again next year The bankruptcy of Birmingham city council is a much bigger story especially within the UK
Comment from : @Alex-fm5ke

Its all absolutely planned by the 5th columnists- the "Civil ServicebrThey have a "agenda" to punish the UK for the temerity to vote for BrexitbrbrA politically neutral civil service is such an asset brShame we don’t have one brThe case for US-style fixed term contracts issued by the incoming administration is getting stronger all the time brWe need to change the Civil Service immediately
Comment from : @andrewstafford-jones4291

So we have to turn Britain upside down periodically and hope we can pay the gas bill It’s helped other nations in that account in exactly the same way that they don’t do the same thing or they might be relegated back to the bottom br Who would have thought Brexit was all about sofa diving rather than sunlit uplands
Comment from : @keithwilliams744

12:13 first time I’ve heard an Englishman call it ‘math’ rather than ‘maths’😅 But great video mate, from a new subscriber!🫡
Comment from : @AbCd-lw5vs

like Sasha would say, "they are all f*** clowns", what more can we expect Did it REALLY come as a surprise that the country F*** up once again Im still waiting for the cherry on top, cos i dont think they are done putting icing on the cake
Comment from : @sebastiengomez3855

Crazy that Birmingham's economy is only £18B, i bet 110 years ago the Birmingham economy was much bigger if you account for inflation
Comment from : @Loundsify

That or they lied
Comment from : @joshlang6442

So they've found a better way to fudge the books 😅
Comment from : @monkeysausageclub

Hmm I wonder *cough Brexit!
Comment from : @chunkymonkey55555

I can't understand how anyone can think the UK is actually doing significantly better with this latest databrThe evidence of level of lies, fraud & sheer gaslighting by this government makes it clear that whatever they say the opposite is true
Comment from : @cbarronie2361

Do these people still count printed money as part of GDP? Lies, Damned lies and statistics?
Comment from : @davejohnston5158

Damien, just after your Rule Britannia clip an ad with Nigel Farage came up 😂😱🤮 !
Comment from : @nikki_jp4216

If you want another misunderstood international term, try the medical "Out of Pocket Expenses" as related to public perception about NHS free at point of use (true) compared to other international 'personal insurance' based charges (the ONS 2019 report has OoP at 25 to the joy of the US trolls ;-)
Comment from : @philipoakley5498

Sack the ons if thay carnt do the job
Comment from : @keithdickinson2819

At my uni, monthly exams were conducted on slim books called as blue books It’s not taken seriously and we bulls**t a lot on it Nothing different here
Comment from : @lbasavaraj

Damien, can you explain to me GDP Vs GDP PPP why is it different, what's the caluclate behind it brbrAnd would would a country like Russia whom has a million sanctions but is still the 5th largest GDP PPP (higher than UK) But who's GDP is lower isnt even in the top 10
Comment from : @bagdaduk

When nearly 50 of the population are gleefully running down the UK economy (called remoaners) and every financial chart is based on the belief that the UK has shot itself in both feet due to brexit, yet with full employment and 'other' statistics getting better month by month, the UK is recovering just as every other nation is
Comment from : @hawklord100

My question would be why did we move to the new method of reporting, who made that decision, and was this an expected outcome of the methodology change brbrI mean its not like politicians to change / scrap targets, or to take 1 item of a data set that suits their narrativebrbrAlso, what is the margin of error within these stats? That in itself may be the entire difference
Comment from : @thebazgaz

My customer including my company Isn't busy Slowing down badly Steel industryi dont realy believe anything whats coming out from th3 uk 🇬🇧
Comment from : @-BY205

Smoke and mirrors, it's ALL deceptions
Comment from : @derekwhite2929

So we're not last on the recovery speed list, we're still only just above Russia in the G7 when it comes to the numbers though that's what they are counting on you misunderstanding 👍
Comment from : @blindbrad4719

All a load of wishful thinking
Comment from : @MariusRaaths

Does GDP account for inflation A pound isn’t the same unit after 10 percent inflation so surely they have to account for that in the calculation?
Comment from : @Wildcamp-lifestyle

The revision was due to new data on businesses stockpiling inventory When factored into the old data, GDP was bumped up
Comment from : @chome4

i only work part time so my labour is not stolen by others
Comment from : @888ssss

Skewed data and leaving the EU is a connection
Comment from : @nickdaybyday

Brexit could not be allowed to the disaster it obviously is, so not for the first time, they changed the way they measured the economy
Comment from : @chrisyarnold6205

It is fucked after Brexit
Comment from : @thomasucc

What does it matter to the ordinary working person in the street, if the estimate of last year's GDP is right or wrong?brThe only people who'll get their knickers in a twist about it, are those who want to use the figures to push their own political agendabrie Remainers and Sir Keir supporters - mostly on Twitter!
Comment from : @TomRelubbus

Some feedback, can you not put Jeremy Hunts face on the thumbnail, I was eating breakfast when I saw this video and have now gone off my food
Comment from : @effctoocool9763

The IMF gets its predictions on the UK wrong every single year, yet newspapers and analysts use these predictions
Comment from : @PabloTBrave

BANKS GOUGINGSUPERMARKETS GOUGINGCENTRAL BANK REWARDING THOSE WHO HAVE MONEY BY ENSLAVING THOSE WITH A REASONABLE MORTGAGE PEOPLE DRIVEN TO SHOUT IN COMMENTS COS THEY ARE NOT BEING HEARD!
Comment from : @Guide504

So the CSO was inaccurate before and now theyve fixed it oh, really
Comment from : @casteretpollux

As Social worker, we rely on data from the ONS, however, there are other organsations, such as Joseph Rowntree Foundation Basically don't rely on one set of numbers And one question! Isn't there a general election coming up?
Comment from : @sanatandharma4435

AND THAT JUST before elections
Comment from : @benjamindejonge3624

uk sucks
Comment from : @Black-Circle

Hey DamobrbrMaybe the 2 billion they discovered was in that MrsMoan's Sofa? 😅
Comment from : @twinkletale5548

The ons reflects what has happened brbrThe truth even if the ONS misread a 44 billion that still means that Liz Truss cost us only 16 Billion brbrThis video although based on a publication is still opinionbrbrThe truth is we have seen massive profiteering this doesn’t mean as a citizen we are richer just the nation has produced more wealth
Comment from : @MC56129