Brexit the economy and house prices part 6

Moby

wunferall wrote: »

I agree with your sentiment but may I correct that for you?

As far as I can see that's the way this thread is progressing; any good factual news is jumped on by leave supporters any prospective bad news is jumped on by remain supporters. To me remainers see predictions as factual where in truth they are often proven wrong.


Sadly this will continue until the need to stop desperately reaching for anything negative regarding Brexit has passed.



Imagine; the year is 2021.
The UK has been free of the EU for two years.
Employment remains at record high levels and wages continue to rise faster than inflation, which remains low.
Productivity is rising and our balance of trade has reduced; exports are up and GDP growth is strong.

Remainer: "Ah but Brexit has cost us billions of pounds a day and soon we will see a deep recession because ........... well, because it's predicted."


Of course, there is a possibility that things do not go so well.
THEN is the time remainers can gloat.
Before that they merely look increasingly desperate to justify their opinion that Brexit is wrong.

https://www.telegraph.co.uk/politics/2018/11/09/beginning-end-brino-clean-brexit-will-win-day/?li_source=LI&li_medium=li-recommendation-widget

Sorry but I could never ever accept these types in control of my future.

http://www.spiegel.de/international/europe/interview-with-labour-leader-corbyn-we-can-t-stop-brexit-a-1237594.html#ref=rss

I also think Corbyn is becoming out of touch with a lot of his base.

buglawton

ruperts wrote: »

When the day comes that ordinary people can use GDP growth to put food on the table then I'll be interested in it. Until then it's a measure that says very little about people's wellbeing.

Considering that obesity is a bigger problem than starvation in the UK, I'd agree.

I'd be interested to know when a higher GDP can create a better health service.

By the way, there is a magic money tree, it's called higher per capita productivity. The one topic the government dares not mention when squabbling over which public service to cut next.

fewgroats

"The day when GDP puts food on the table I will be interested in it."

That's the equivalent of not voting because you are studying for a political degree. The GDP shows how much food there is on the table.

wunferall

Moby wrote: »

I also think Corbyn is becoming out of touch with a lot of his base.

:rotfl:

He's been out of touch for years!
There's lots to suggest this but as one example he lost a no-confidence vote in 2016 by 172 to 40.
That's a lot of MP's who knew even then how out of touch Corbyn was.

As for your "not accepting those types" well, you have two choices really.
Carry on whingeing or put your money where your mouth is, leaving for somewhere different.
If you're such a fan of socialism try a visit to Venezuela.
Socialism has worked so well for them.

wunferall

fewgroats wrote: »

"The day when GDP puts food on the table I will be interested in it."

That's the equivalent of not voting because you are studying for a political degree. The GDP shows how much food there is on the table.

GDP also indicates how the standard of living is progressing, but of course some remainers just want to find something .... anything .... to try and justify their despising Brexit.
True or not, as this thread clearly demonstrates.

kabayiri

I'm having GDP on toast later.

...washed down with Brexit Real Ale

wunferall

ruperts wrote: »

When the day comes that ordinary people can use GDP growth to put food on the table then I'll be interested in it. Until then it's a measure that says very little about people's wellbeing.

What a ridiculous assertion.
Just because "ordinary people" might have little understanding of the correlation between GDP and "food on the table" doesn't mean it does not exist, it only displays your lack of understanding.

As suggested above, if there really is no correlation between GDP growth and food on the table you might like to explain that to millions of starving Venezuelans who have (perhaps unwittingly) seen their GDP decline by 45% in five years.
https://news.abs-cbn.com/overseas/05/14/18/how-once-mighty-venezuelan-economy-collapsed

StevieJ

wunferall wrote: »

:rotfl:

He's been out of touch for years!
There's lots to suggest this but as one example he lost a no-confidence vote in 2016 by 172 to 40.
That's a lot of MP's who knew even then how out of touch Corbyn was.

As for your "not accepting those types" well, you have two choices really.
Carry on whingeing or put your money where your mouth is, leaving for somewhere different.
If you're such a fan of socialism try a visit to Venezuela.
Socialism has worked so well for them.

Which fools nominated/seconded him? I remember one, the darling of the Right, Frank Field :T

Thrugelmir

wunferall wrote: »

What a ridiculous assertion.
Just because "ordinary people" might have little understanding of the correlation between GDP and "food on the table" doesn't mean it does not exist, it only displays your lack of understanding.

A very crude measurement though as to the underlying performance of an economy. Often spoused as it's impossible to drill down into the finer detail. Simply too many variables.

In the past balance of trade was the figure that mattered. Polticians avoid it as far as possible. As opens a can of worms.

wunferall

Thrugelmir wrote: »

A very crude measurement though as to the underlying performance of an economy. Often spoused as it's impossible to drill down into the finer detail. Simply too many variables.

In the past balance of trade was the figure that mattered. Polticians avoid it as far as possible. As opens a can of worms.

A negative balance of trade is widely accepted as being okay, because it just means that the country could manage very well if FDI makes up for it (as here in the UK for years) or money is borrowed to make up the difference.
So that's at least partly why balance of trade isn't a good indicator.

GDP isn't the best of indicators as to either the standard of living or performance of an economy but it is both a good starting point and a good indicator.
There are far too many variables to accurately assess economic performance without it becoming a cumbersome task, which is why GDP is so widely used.