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Thread: UK economy post brexit

  1. #1
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    UK economy post brexit

    http://www.independent.co.uk/news/bu...-a7566816.html
    High street sees 'most disappointing' quarter since 2009 as UK inflation worries mount
    'These figures suggest that 'caution’ was top of new year shopping lists', the British Retail Consortium
    The high street saw its “most disappointing” quarter since the 2009 financial crisis in the final three months of 2016 and January sales have also lagged expectations, new research shows.

    The British Retail Consortium found that UK shoppers reined in spending in January - a sign that concerns about rising prices may be beginning to hit confidence.
    Are the worries starting to become reality as the triggering of article 50 draws nearer?
    sing to me the history of my country. It is sweet to the soul to hear it. Flann Mac Lonain ( c.850-918 a.d)
    Alba gu brath An rud is fhiach a ghabhail, 's fhiach e iarraidh

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    http://www.bbc.co.uk/news/business-38878091
    Brexit vote already bad for firms, bosses say
    The Brexit vote is already having a negative impact on business, a survey of bosses from some of the UK's biggest companies has suggested.
    Market researcher Ipsos Mori found 58% of respondents said their firms had suffered since last June's exit vote.
    Nearly a third of respondents thought the referendum had not made any difference, and 11% felt it had been positive.
    More than 100 bosses of FTSE 500 firms responded to the survey.
    "Unfortunately, it looks like business in this country is already feeling the pain of the economic upheaval of leaving the EU," said Ipsos Mori chief executive, Ben Page.
    "According to respondents there is no sign that this is likely to ease this year, with two thirds saying they thought their business situation would get worse in the next 12 months," he added.

    Unfortunately a fair section of the public seem blissfully unaware of the problems that are developing; hence keeping things going consumer spending-wise by maxing out the credit cards in an unsustainable, bubble building fashion.

    However, the blame can be placed with the Remain campaign in England for exaggerating the immediacy of the economic problems that brexit would cause (Remain campaign in Scotland didn't do this exaggeration to any signifcant extent). It was always going to be a slow motion train crash, not a sudden, overnight disaster.
    sing to me the history of my country. It is sweet to the soul to hear it. Flann Mac Lonain ( c.850-918 a.d)
    Alba gu brath An rud is fhiach a ghabhail, 's fhiach e iarraidh

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    http://www.bbc.co.uk/news/business-38876235
    Half of SMEs 'to increase prices' because of weak pound
    More than half of small and medium-sized firms say they will increase their prices this year due to the weak pound, a survey by the British Chambers of Commerce has found.
    Meanwhile, about the same proportion said currency was having a negative impact on their profitability.
    The BCC said rising import costs were "squeezing" SMEs' margins.
    another one on the weakness of the pound.
    sing to me the history of my country. It is sweet to the soul to hear it. Flann Mac Lonain ( c.850-918 a.d)
    Alba gu brath An rud is fhiach a ghabhail, 's fhiach e iarraidh

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    Quote Originally Posted by thomas View Post
    Unfortunately a fair section of the public seem blissfully unaware of the problems that are developing; hence keeping things going consumer spending-wise by maxing out the credit cards in an unsustainable, bubble building fashion. ..
    Nobody's ever accused me of understanding economics, so I could be missing something here, but doesn't that contradict your first quote:
    The high street saw its “most disappointing” quarter since the 2009 financial crisis in the final three months of 2016 and January sales have also lagged expectations, new research shows.
    ... UK shoppers reined in spending in January - a sign that concerns about rising prices may be beginning to hit confidence.

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    Quote Originally Posted by thomas View Post
    Are the worries starting to become reality as the triggering of article 50 draws nearer?
    No worries at all my friend I'm very excited and optimistic.

    - - - Updated - - -

    Quote Originally Posted by thomas View Post
    another one on the weakness of the pound.
    You mean that the pound is not as strong as it was.

    Show me a currency stronger than it.
    17,410,742 British people including Scots said LEAVE!

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    Quote Originally Posted by P. de Bierkabouter View Post
    Nobody's ever accused me of understanding economics, so I could be missing something here, but doesn't that contradict your first quote:
    Hello Paulus.

    No sure what you mean , you have taken a quote in one post and attributed it to another.

    Dont really see any contradiction myself , high street sales in the first article have had the most dissapointing quarter since 2009 as inflation worries mount , but still a section of the public seem blissfully unaware of developing problems and are carrying on spending , just not as much as before so no immediate crash as the likes of osbourne and the scaremongers in the English remain team were advocating thus building a false sense of security.

    The argument from some was that brexit was going to be a slow motion train crash , as various articles are indicating , not the immediate "fall off the cliff" prominent members of remain in england were spouting.

    Thats all i meant.
    sing to me the history of my country. It is sweet to the soul to hear it. Flann Mac Lonain ( c.850-918 a.d)
    Alba gu brath An rud is fhiach a ghabhail, 's fhiach e iarraidh

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    Quote Originally Posted by Uncle View Post
    No worries at all my friend I'm very excited and optimistic.

    - - - Updated - - -
    .
    Good for you.

    Im excited too as i see a window of opportunity for Scotland .

    Slightly off topic but on the subject of brexit i see the ridiculous events of last night being reported far and wide in scotland......

    Should Scotland’s MPs walk out of UK Parliament?

    February 7, 2017 Craig Sheridan 30 Comments
    If Scotland’s democratically elected politicians are deliberately gagged in the UK Parliament then there is no Union. Last night that is exactly what transpired, as the Deputy Chair blocked the SNP’s Joanna Cherry from speaking in the vital Brexit debate, instead inviting the Brexit Minister Robin Walker to speak, who arrogantly and wrongly declared, “We have heard from all 4 corners of the United Kingdom”.
    “incontrovertible proof of the contempt in which Scotland is held at Westminster”Any democrat in Scotland should find this wholly unacceptable regardless of affiliation or opinion. In an affront to democracy and Scotland’s MPs, Lindsay Hoyle the Deputy Chair and Labour MP for Chorley for the last 20 years interrupted a stunned Joanna with “the Honourable Lady has come to an end, can we have the Minister please.”
    The MP for Edinburgh South West, Johanna Cherry later explained,
    “I had not finished speaking. This evening is the incontrovertible proof of the contempt in which Scotland is held at Westminster”
    The UK Parliament has taken ignoring the SNP to a whole new level by shutting them down against Parliamentary convention. The acting Chair said it was an important debate and he wanted to hear what the Minister had to say but clearly the SNP MPs were not important enough to him to hear Scotland’s perspective. The contempt in which SNP MPs are held in Westminster has never been more thinly disguised. This is undemocratic, unacceptable and should mark the day where all Scots stand together and say No More!
    The anger level has now risen to the fact that people are calling on scotlands political representatives walking out of westminster and gathering round to hold a vote on dissolving this unequal union.

    Exciting times eh?

    You mean that the pound is not as strong as it was.

    Show me a currency stronger than it.

    At a thirty year low against the dollar , with inflationary price rises looming if not already being brought in?

    Devaluation of the pound makes us all poorer in our pockets or are you not understanding this?

    http://www.birminghammail.co.uk/news...-year-12536445
    Petrol prices rise to TWO YEAR high
    Diesel is also at its most expensive level since December 2014, at Ł1.23 per litre
    RAC fuel spokesman Simon Williams said: "The weaker value of the pound and a recovering oil price sadly means motorists are now paying more for their fuel than they have done in over two years.
    "Looking back to December 2014, it was a very different, much brighter picture, as the oil price was consistently falling, going from 70 US dollars to 55 US dollars in the month and the exchange rate was 1.55 US dollars.
    "Today, however, oil has risen to 55 US dollars a barrel and the pound is worth just 1.25 US dollars, which means with fuel traded in dollars, the cost of filling up has once again become a far greater financial burden to drivers."
    part of this is the oil price itself but a big chunk is the brexit pound collapse , oil being traded in dollars as you know.
    sing to me the history of my country. It is sweet to the soul to hear it. Flann Mac Lonain ( c.850-918 a.d)
    Alba gu brath An rud is fhiach a ghabhail, 's fhiach e iarraidh

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    The weak pound has been doing wonders for me.
    My student numbers literally doubled within 2 days of Brexit.

    Other than this unexpected windfall, things are going broadly as expected.
    No significant change, being what was expected.

    Devaluation of the pound only makes those of us who buy imported goods poorer. Not all of us.
    Just those who favour foreign businesses over local ones.

    Adjust your behaviour FTW.

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    Quote Originally Posted by thomas View Post
    Are the worries starting to become reality as the triggering of article 50 draws nearer?
    It depends upon where you live.

    The UK is currently a net contributor to the EU budget. Brussels will probably demand some sort of bung when we leave, but provided that it is within reason, Britain as a whole should be better off. Matters might be a bit sticky for the Scots, but that is God's punishment for living in the arse end of the empire. Those of us who live somewhere civilised should continue to feel the benefits of the falling pound.

    The real blow will fall on the welfare states of Eastern Europe. Mrs Merkel might talk a good battle, but I doubt that her country men and women will be overly keen on bumping up the subsidy to Poland.

  10. #10
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    Quote Originally Posted by Borchester View Post
    It depends upon where you live.

    .
    these things dont affect you in the london bubble borkie?

    ( hoi wheres ma money?)

    how about immigration then?

    https://www.bloomberg.com/politics/a...voices-concern
    U.K. Inflation Pressures Build as BOE's Forbes Gets Worried
    U.K. labor-market pressure may be mounting, food-price inflation is returning and one Bank of England policy maker is starting to voice concern...
    ...On the labor market, the REC report showed vacancies rising and the availability of staff decreasing, a trend that may worsen because of the decision to leave the European Union. An annual survey published by the BOE on Wednesday pointed to a “slight rise” in total labor cost growth this year, partly due to difficulties in hiring and holding on to employees. Still, growth in basic pay may slow to 2.2 percent in 2017 from 2.7 percent, it said.
    “Employers are crying out for people,” said REC chief executive Kevin Green. “The government’s decision to prioritize immigration control over the economy in their EU negotiations means that finding candidates will become yet more difficult.”

    First thing this story suggests is that a post brexit ruk will need to relax immigration restrictions to meet labour market demands , if not the economy will be hit hard.
    sing to me the history of my country. It is sweet to the soul to hear it. Flann Mac Lonain ( c.850-918 a.d)
    Alba gu brath An rud is fhiach a ghabhail, 's fhiach e iarraidh

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