A global recession is on the horizon - please read OP for mod warning

No point trying to engage with a poster whose first resort is abuse.

If you re-read my points I am talking about the corpo tax for 2023 will be down on 2022 and profits at the tail end of 2022 seen a large fall off in profits hence the ramping up of the shedding of jobs

Germany's retail sales in December fell off a cliff, the last 3 months average figure was the worst in the countries history. Europe's largest economy likely in recession now.

I called your post clueless, that is not abuse.

That is a staggering level of inflation. Some of the UK inflation is self imposed though - the fact that their rate is the highest by far of the G7 and the coinciding time period with brexit cannot be overlooked.

Everything will go up, the country runs on diesel commercial vehicles.

Food inflation from Novembers figures, some difference from bottom to top.

Eurostat data on GDP growth, 2022 Q4:

PRELIMINARY FLASH ESTIMATE

The idea behind the layoffs is increased profit for the MNCs.

However, it would probably not manifest as such IMO due to one off restructure costs (eg severance) would be higher than just paying salaries for the FY. Especially if non US staff are laid off. I know of two large MNC that laid off Irish staff recently and the packages were 6 weeks + statutory in one and 8 weeks + statutory in another. That adds up.

Imagine 40 of the world's biggest economies sanction one country to death and they just shrug it off. Unbelievable really !

Because i said it from the start that sanctions against Russia won't work and will only hurt the other side.

So it is nice to get something right.Hopefully i am very wrong about the global economy going to **** though. Especially Europe's.

Sanctions have hurt Russia and they do work. Perhaps not as much as was initially hoped, but this is just the beginning.

The drop last year, coupled with a 0.3% rise for this year is with Russia gaining vast amounts of energy revenue from the previous year due to the war spiking prices, which is not going to last with dropping prices and customers. Not to mention the 300 billion of their assets frozen, which they are unlikely to ever see again.

Can they scrape by? Sure, forever, look at NK. Can they economically fund their war on Europe indefinitely under these conditions? Yeah, not so sure on that one. We'll see over the next few years.

Sanctions hurt them but they definitely do not work. They hurt us more actually. Anyway, Russia is moving towards Asia and the rest of the world which did not sanction them. I think they are going to be way better off than the EU in the next few years.

You got your facts mixed up a bit. Russia is at war with Ukraine not the Europe. It is EU who is trying to be at war with Russia.

The point is that sanctions always hurt the consumer more than the producer. Any restrictions on trade tend to do that, protectionism is another form of economic sanction and it is widely accepted that the consumer is always worst off.

Producers can usually sell elsewhere - which they are in this case. Chinese and particularly Indian purchases of Russian crude has skyrocketed last year and so far this year. Indian refineries are a gold mine right now for refining and re-selling to Europe. Oil is fungible, nobody really knows where it originally came from so "sanctions dodging" is rife.

Its a good time to be a middleman though

But that's utterly irrelevant, nobody is sanctioning Spain. Russia is horrid place to be a citizen right now and that's not changing any time soon.

CPI going down for third month in a row.

Russia is moving to Asia - great, they are presently fleecing the Russians like there is no tomorrow. Europe cannot be energy reliant on a dictator that is invading Europe (Putin very much seems himself at war with Europe and the West). Not interested in your frothy Clare Daly narratives blaming "the West" either.

Despite Putin's best efforts to flood Europe with war refugees and use energy as a weapon (on top of inflation, post-pandemic and high inflation), economically speaking, so far, we're doing relatively okay.

You are 100 percent right.

If spain decides to invade Portugal then they are fucked. I have booked marked this page for future generations for this insight into the complex economic system.

Books will be written on your post. Government policy changed after reading it. You username will echo on the halls of universities for years to come.

Russia will remain a poor country with a tiny economy but it is still doing ok with the oil, not as good.

However nearly every aspect from insurance, the tankers, as Javier Blas, Bloombergs main Energy journalist said,

"the oil traders are Russian

the oil tankers are Russian-owned

the oil insurance is Russian

the oil finance is Russian

And so it’s Russia who makes money on each and every step of that chain. But, sure, focus on the FOB price."

Has Russia made it hard for itself, done deep damage to its economy and lost a fortune, certainly.

In time they will work around the sanctions, the Shadow fleet of oil tankers is at an all time high, countries like Malaysia are exporting vast volumes of crude, from a few wells.,,🤔.

Russia's economy will tick along at a low level , poverty-stricken but it will also be able to keep up the war for years to come.

Most of the world doesn't really care. Sanctions are only ever a part and take many years to work. Not saying that they shouldn't be increased, they should but Asia and Africa will help Russia work around it bit by bit.

Me? Just on this graph, nothing particular.

I was just curious to understand why you posted this on this thread as you didn’t add any other information or explanation.

"If you are struggling a bit the worst thing to do is to borrow money, best off just tightening the belt and live within your means. That is what i was taught anyway, if you can't afford it, save up for it and then buy it."

This is often true when talking about household debt, but not always the case for state borrowing. An injection of money into an economy through lending can lead to increased economic activity leading to increased capacity to repay, or can prevent an economy from collapsing altogether (2008-2012 Ireland).

ROFL hahahah yada yada yada... Where did I say richer?

I said they will be better off than people in the EU in the next few years simply because they do have access to everything they need domestically where we and most of the EU needs to import nearly everything.

And comparing them to us is frankly ridiculous. The only industry at the present in Ireland is because of tax avoidance we offer. It is being noted and disliked by the EU which will put an end to it soon. Oh yes, we have everything bigger including public debt per capita (10x more), general government debt as percentage of gdp (55% to their 17%) and dicks most likely too.

It was you who made this ridiculous claim. I never said they will be richer than Europe. Hardly anyone here is rooting for likes of Russia to "win" it is just your own russophobia clouding your mind where everyone here who do not slag them is automatically russian bot.

It is also equally ridiculous to claim that russia winning over ukraine equals collapse of western civilisation.