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If we vote for Brexit what happens
Comments
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mayonnaise wrote: »UK economy contracts at steepest pace since early-2009
Entirely predictable and confidently predicted by the Remain campaign. Ditto the effect on sterling.
Here's another article along the same lines.
http://uk.reuters.com/article/uk-britain-eu-economy-pmi-idUKKCN1020T2
Other testable predictions were made regards science, higher education, inflation and unemployment, amongst other things. We're seeing signs of the predicted negative effects on all three, but it will be a few more months before we can confidently say that the predictions were correct.
Sorry, I've just realised that I should have been saying "scaremongering" rather than "predictions", so please mentally correct it yourselves.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
You will be surprised how people cope when they have to.
Conversely, I think we will be surprised how 'wealthy' a lot of people truly are, when the proverbial hits the fan and the AUDI on the drive has to be repo'd.
A lot of people live far beyond their means thanks to cheap credit. If/when that dries up, things will get interesting quickly. If you've been careful with money then you've got much less to worry about."The only man who makes money from a gold rush is the one selling the shovels..."0 -
indianabones wrote: »Agreed. I've done the numbers as well.
£300k mortgage at 5% or less, at 2.99% it's a payment of 1421. Increase that to 5.99% and it comes out as 1932. £510.
Is the poster related to Mr George Osbourne by any chance? Clearly using exagerated figures to make a point.
Depends on the term. Over 45 years it's closer to the OP's workings. Isn't the average term for FTBers 43 or something now?"The only man who makes money from a gold rush is the one selling the shovels..."0 -
mayonnaise wrote: »News Release.
UK economy contracts at steepest pace since early-2009
https://www.markiteconomics.com/Survey//PressRelease.mvc/b68c3686a48c40198505b81e4e55cd81
My emphasis
Oopsie daisy! Oh well, at least you can kick the Poles out.0 -
Looking at that PMI graph, it looks so much like the 2008/2009 Financial Crisis crash. What's amazing about that is how quickly confidence returned in the UK (after about 6 months), once stimulus measures were taken. We adjusted.
So it's a 'watch this space' for 6 months now, till then the jury's out.0 -
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Looking at that PMI graph, it looks so much like the 2008/2009 Financial Crisis crash.
Anecdotally, London feels really quiet at the moment - just like in 2008/2009. It is hard to tell, however, because London's suburbs can feel quiet at this time of year as many are on holiday......0 -
Looking at that PMI graph, it looks so much like the 2008/2009 Financial Crisis crash. What's amazing about that is how quickly confidence returned in the UK (after about 6 months), once stimulus measures were taken. We adjusted.
So it's a 'watch this space' for 6 months now, till then the jury's out.
That 2008/9 episode resulted in over a million people losing their jobs, hundreds of thousands of business failures/bankruptcies, and numerous home repossessions.
Confidence may have returned quickly, but the cost of getting it back was a few Hundred Billion Pounds added to the National Debt and emergency financial measures that are still in place 8 years later...
The country simply cannot afford to go through all that, or even a tenth of all that, again so soon for something that was entirely avoidable.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »The country simply cannot afford to go through all that, or even a tenth of all that, again so soon for something that was entirely avoidable.
How was it avoidable?
Do you really think the UK could continue as it was?
http://www.conservativehome.com/platform/2016/07/david-davis-trade-deals-tax-cuts-and-taking-time-before-triggering-article-50-a-brexit-economic-strategy-for-britain.htmlEconomic growth in the UK has been founded on a number of unhealthy characteristics in the last decade or so. It has depended above all on large population increases based on uncontrolled mass migration. This has made the economy bigger, but not necessarily better for individual citizens, as shown by GDP per capita growth rates of two per cent or less – significantly weaker than in most decades since the Second World War. It has depended on moving a large number of people moving out of unemployment, which is good, but because the new jobs tend to be low paid it created a low productivity economy. And it all depends far too much on domestic demand, which even after 2008 is excessively funded by consumer credit. This is unsustainable in the long run.
In a country which seems incapable of building houses - explain how this was avoidable on a model of mass migration to increase consumption/GDP?
Furthermore, people wanted democracy returned to the UK, as we had handed power over our destiny in 1993 to unelected EU commisioners who clearly don't have the UK's peoples best interests at heart.
I don't see how any of this was avoidable - other than by having a referendum back in 1993 when Brits would have probably have voted no to European politically union.
PS Brits have consumed so much in the last 30 years that I'm sure that land fill sites will be happy with a reduction in GDP for a short period of time0 -
setmefree2 wrote: »How was it avoidable?
People wanted democracy returned to the UK, as we had handed power over our destiny in 1993 to unelected EU commisioners who clearly don't have the UK's peoples best interests at heart.
.
Stuff and Nonsense.
This is a DIY recession, caused by outright lies to the UK population about lack of democracy, when the reality is the EU is little more than a trade club and north of 95% of EU laws implemented in the UK are only to do with trade and trade regulations.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0
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