Brexit, the economy and house prices (Part 3)

setmefree2

Conrad wrote: »

I find the Elitist sense of entitlement to inflict major change on European people without genuine meaningful consent, simply breath-taking. How can a small elite think it can think for the people in this way?

I have to agree with you there. The fact European Countries are being transformed into the United States of Europe without being asked is quite unbelievable.

Never forget that the creation of the United States of America led to a civil war - the effects of which are still being felt today. The American civil war wasn't just about slavery it was also about States' Rights. States' Rights refers to the struggle between the federal government and individual states over political power. The debate over which powers rightly belonged to the states and which to the Federal Government - ring any bells?

setmefree2

London house prices fall for first time in eight years as rest of UK rises

Average price of home in capital is £471,761, down 0.6% between July and September compared with same period last year

https://www.theguardian.com/business/2017/sep/29/london-house-prices-fall-for-first-time-in-eight-years-as-rest-of-uk-rises

http://www.nationwide.co.uk/~/media/MainSite/documents/about/house-price-index/2017/Sep_Q3_2017.pdf

setmefree2

BRUSSELS (Reuters) - European parliamentarians want Britain to end “regrettable” practices that discriminate against EU citizens in the workplace and elsewhere, a draft resolution published on Thursday showed.
Lawmakers also urged British authorities to grant broad rights to EU citizens and their families in Britain after it exits the EU in 2019, an issue where EU chief negotiator Michel Barnier said on Thursday big differences remained.
The European Parliament “expresses concern about regrettable administrative practices against EU citizens living in the United Kingdom”, the draft resolution said.
Lawmakers said there were also cases of British citizens discriminated against in other EU countries.

https://uk.reuters.com/article/us-britain-eu-parliament/european-parliament-wants-britain-to-end-discrimination-against-eu-citizens-draft-idUKKCN1C31VI

cogito

mayonnaise wrote: »

Fellow leaders voicing their concerns about another leader's vision. In the end a compromise will be found reflecting the level of further integration all can sign up to.

Democracy in action.

Macron's vision involves the Germans opening their chequebook and that simply won't happen.

setmefree2

Business investment in the UK went up in the second quarter

Business investment surges

A jump in business investment is the positive in today's data and could well ultimately limit the damage inflicted on Sterling.
Gross fixed capital formation (GFCF), in volume terms, was estimated to have increased by 0.6% to £81.2 billion in Quarter 2 (Apr to Jun) 2017 from £80.7 billion in Quarter 1 (Jan to Mar) 2017.
This suggests businesses are investing regardless of any Brexit uncertainty, and one can only assume that this trend will pick up as negotiations progress and the outlook becomes clearer.

Business investment in the UK increased between April and June this year, the latest Office for National Statistics data shows.
Compared to the same period last year, business investment rose 2.5 per cent to £45.6bn, meaning firms bought more non-financial assets like machinery and property than they did last year.
It also edged up on the previous quarter, increasing 0.5 per cent.

http://www.cityam.com/272958/business-investment-uk-went-up-second-quarter

setmefree2

cogito wrote: »

Macron's vision involves the Germans opening their chequebook and that simply won't happen.

AfD is like UKIP - it was founded as an Anti EU party (but unlike UKIP which was created in 1993 following Maastricht, AfD was only created 4 years ago).

You can win an election in Germany with just 30% of the vote (unlike France) - AfD got 14% of the vote.....in just 4 years....

https://en.wikipedia.org/wiki/Alternative_for_Germany

mayonnaise

cogito wrote: »

Macron's vision involves the Germans opening their chequebook and that simply won't happen.

Yes, as I said, a compromise will be found.

setmefree2

The breakdown for Q2 now looks more encouraging, with quarterly growth in household spending revised up from 0.1% to 0.2%, and business investment from 0% to 0.5%.
"What’s more, the National Accounts painted households’ balance sheets in a much better light," says Hollingsworth, noting:
The household saving ratio has been revised up on average by 0.9pp between 1997 and 2016. And the impact in more recent quarters was even more significant – Q1’s figure was revised up from 1.7% to 3.8%. And the saving ratio picked up to 5.4% in Q2, the highest since Q3 2016.
This should alay some fears that the UK's private sector debt is becoming unsustainable.

setmefree2

There was a narrowing of the deficit on trade in goods which narrowed £2.3 billion in Quarter 2 2017.


There was some good news in that the total trade deficit narrowed to £6.5 billion in Quarter 2 2017, primarily due to increased exports of trade in goods of which; exports of chemicals increased by £1.1 billion and exports of oil increased by £0.8 billion.

Thrugelmir

setmefree2 wrote: »

This should alay some fears that the UK's private sector debt is becoming unsustainable.

Those with debts are less likely to have savings. Around 2 million people only pay the minimum balance on their credit cards every month. If they default some else picks up the tab.