REMAINERS -there is no recession

Ashen

IanManc wrote: »

Would that be the FTSE 250 which is currently equalling its alltime highest level?

It would be! I assume as you've only quoted part of what I put, you're not disputing the other parts of what I've said.

steampowered

The reason the stockmarkets and we haven't seen a recession is because the value of the pound has dropped by about 15%.

It isn't really surprising that the shares FTSE companies have gone up in pound terms given that these are typically international companies with most of their operations abroad, making money in other currencies.

Growth seems to be doing fine but there are obviously knock-on consequences in terms of inflation in terms of the price consumers have to pay for anything which is imported (such as almost all technology products) or is priced in dollars (such as computer software, energy and fuel). This is of course going to affect your pocket and your living standards.

The most obvious examples have been HP and Dell raising their UK list prices by a flat 10%, and Apple dramatically raising the price of iphones (compared to keeping them the same in the US) and ipads (compared to a price reduction in the US).

IanManc

Ashen wrote: »

It would be! I assume as you've only quoted part of what I put, you're not disputing the other parts of what I've said.

You'd be wrong about that too. :beer:

Ashen

IanManc wrote: »

You'd be wrong about that too. :beer:

Thank you for the detailed analysis.

BananaRepublic

steampowered wrote: »

The reason the stockmarkets and we haven't seen a recession is because the value of the pound has dropped by about 15%.

It isn't really surprising that the shares FTSE companies have gone up in pound terms given that these are typically international companies with most of their operations abroad, making money in other currencies.

Growth seems to be doing fine but there are obviously knock-on consequences in terms of inflation in terms of the price consumers have to pay for anything which is imported (such as almost all technology products) or is priced in dollars (such as computer software, energy and fuel). This is of course going to affect your pocket and your living standards.

The most obvious examples have been HP and Dell raising their UK list prices by a flat 10%, and Apple dramatically raising the price of iphones (compared to keeping them the same in the US) and ipads (compared to a price reduction in the US).

Indeed. Many UK companies are reporting better exports due to the exchange rate, but as you say imports will be more expensive. Many increases have not yet filtered through, presumably due to existing stocks in the UK warehouses, existing contracts, or suppliers taking the hit until they can no longer do so. Apparently overseas buyers are leaping to purchase UK companies and property.

tomthered

Glen_Clark wrote: »

Britain's problem is a bit more specific than too many people. Anyone with enough about them to emigrate to another country looking for work is usually young and hard working - just what the country needs to pay taxes to maintain the growing older population, since there is nothing in the kitty to pay for their pensions and healthcare but a mountain of debts. Not only are people drawing their pensions for longer, but they are being kept alive by expensive treatments which is a double whammy for the taxpayer.
Lets face it, the problem is too many old people.

Hitler had the same idea, its called genocide

TrustyOven

tomthered wrote: »

Hitler had the same idea, its called genocide

What a load of rubbish!
You just invoked Godwin's law.

The problem is (possibly) too many old people.
The solution wasn't specified by the previous poster.

If your idea of the solution (you had Hilter in your mind) is to kill old people, then yes, it would be genocide.

If your idea was something else, that was constructive, and mitigated the old-heavy finance pressures, then it's not genocide.

Rollinghome

TrustyOven wrote: »

If your idea of the solution (you had Hilter in your mind) is to kill old people, then yes, it would be genocide.

Or more accurately, geronticide or senicide. Doubt that the House of Lords would vote for it though.

StevieJ

talexuser wrote: »

Nothing has yet happened except a 15% decline in sterling which has not come through in prices yet since existing stock has to be cleared and some hedge against currency which will keep their prices lower a little bit longer. Many believe eventually this will work through to 4 or 5% inflation, see how long 0.25% base rate lasts if that comes about with our level of debt.

I am glad I hung on to those inflation linked National Saving certs.

StevieJ

kidmugsy wrote: »

Simply wrong. The Remainers really were warning of calamity to follow immediately on a Leave vote. Have you forgotten that aspect of Project Fear already?

Project fear was that something to do with 75 million Turks making there way over here?