Preparing for No Deal

Foreign investment in the UK may be booming but it's mainly in property or utility companies. Every time a Russian oligarch buys a house in London, that is treated as an investment in the UK.

As regards the predictions of the economy crashing they referred to the period after the Brexit vote, ie after we left the EU, which as we all know, hasn't happened yet.

Leavers like day6 still can’t articulate any benefits we will be enjoying in our no deal paradise other than meaningless soundbites like “freedom to make our own trade deals”. Will the intellectual giants we have as trade negotiators get better deals than the 0% deals we have as EU members? No, instead we’ll be shackled to the whims of Trump. Meanwhile our international image is that of selfish whinging losers. (to borrow a Trumpism).

Foreign investments in the U.K. are not booming. Foreign investment is on hold, it is the lowest it’s been for decades.

This is the third year in a row that it has contracted,

Source FT 13/06/19

I think this twitter thread might be appropriate here as it's related by way of critiquing the expertise of the economists Leavers rely on. It concerns the accuracy of various economists' forecasting:

Accuracy of economists’ forecasts edition

Economists for Brexit (aka Economists for Free Trade) way too optimistic - other independents really good

mobile.twitter.com/ChrisGiles_/status/1106490422711537664

It seems logical to me that if an economist can't get their forecasting right then anything else they promote is highly dubious (like, that trading solely by WTO rules is perfectly fine)

If trading solely by WTO rules is fine, why are there no countries doing so?

Seems like it’ll be bumpy at first. But worth it long term.

The real answer is no one knows how disruptive no deal would be. If it were actually to happen, the EU's unilateral measures would probably soften much of the initial blow.

That might create the economic space and/or pressure for the politics on both sides of the Channel to change.

Indeed, many of the Brexiteer claims about no deal are predicated on the basis that a deal would quickly be reached with the EU anyway.

Brussels, meanwhile, would hope that a small taste of economic shock would push London to do a deal.

But the reality is that no one can really say for certain what exactly would happen in the event of no deal. And therein lies the problem.

It’s out of my control so I shan’t be worrying. As I said once before I don’t think it’ll be Armageddon. Nor (at first) a land of milk and honey. Somewhere in between more than likely!

ug so loosing your job, being unable to obtain life saving medicine (see cabinet papers June 2019), contracting economy and food shortages constitute a bumpy ride!!

I assume you don’t have a job to lose, nor are on any medication etc, nor are anyone you know?

So we leave on the 31 October with all the chaos that means and start negotiating on 1 November.

Does anyone appreciate how mad that is?

I see the Singapore government also think we have totally lost our marbles.

They aren’t the only ones!!

Some people suck lemons.
I make lemonade.

We all need to look after ourselves, from the day we start work to the day we retire and beyond.
Thinking about the position some other people find themselves in does nothing to alleviate their situation.
Looking after me and mine obviates the need for someone else to support me.

WwM2: 'If trading solely by WTO rules is fine, why are there no countries doing so?'

why oh why ...

do I get a feeling you'll get no answer to the question.

So, I'll ask it again too: 'If trading solely by WTO rules is fine, why are there no countries doing so?'

Counter is on ... how long will it take?

Why not ask MaizieD. She seems to think she has all the answers.
If she can't satisfy your enquiry then
write to your MP of choice and ask the question.
If we here had all the answers we'd be in parliament.

Project Fear all over again in my opinion we're heard it all before when we voted leave, people have had enough of all this scaremongering and just want to leave on the 31st October deal or no deal. If we don't leave on that date the Conservatives will be finished as a major party.

Thing is some people think leaving with no deal would mean this torture would be over. It won’t be. It’ll just be the start. All these deluded folk are just the other side of the coin of the so called scaremongers.

fire racker. Wrong.

All the information I have outlined is direct from the facts thingy on the BBC.

Surely even leavers must understand that we must move beyond the name calling and begin to try to face what is ahead?

It is an attempt to try to understand the madness ahead of us.

I dearly love this country, and will fight with every fibre in my being to save it from spiralling into the sort of scenario that is outlined by the BBC.

Frankly you voted for it so you should be more than willing to suck it up, and not deny what is ahead. It is cowardly to do so. You have no alternative to offer other than let’s wait and see.
I for one however am not a door mat and will never be one.

far too much scaremongering and speculation, what will be will be.

GG54 - several people here on GN keep repeating that the UK will be totally fine and prosper if we trade solely on WTO rules - so they are the ones who need to explain how and why- and which country/ies trade solely on WTO rules - here, on GN.

Why not ask MaizieD. She seems to think she has all the answers.

The question that was asked, GG54 was why do people think the trading on WTO terms alone will be fine. The only answer I can find to that question is that the people who think that way are halfwits or completely bonkers. ....

I note that the fervent Brexiteers have moved on from unicorns and rainbows post Brexit to it may be tough at first but worth it in the end,or even the breath taking selfish 'I am alright Jack and it is your fault if you are not" philosophy of GG54. How dare you foist this ill considered economic disaster on me and my family and tell me to just get over it.

WW, you assume people are actually bothered about those who may lose jobs, not have access to medication and so on. Many people are not one but bit bothered about their fellow humans.

elvive ☹️ What have we become?

Leavers must learn to own this as they voted for it. Whatever happens the blame will be at their door.

Here's another twitter thread for those who now proclaim that they knew it would be 'difficult' at first...

The British Election Study found only 3% of Leave voters expected Brexit to make the economy worse before the referendum in June 2016.

twitter.com/patricksturg/status/1129824735183876096

Of course, it might just be that that 3% are all here posting on Gnet

How is this going to affect you personally GillT57 then and I don't mean food or medicine shortages (scaremongering in my opinion).

Indeed, what have we become. It is so sad and frankly overwhelming. I try to push it out of my mind but I can't.

I'm not sure the Leavers/Remainers split is helping anybody. Surely there must be some people who are confused, made bad choices,driven by something other than self and greed?

Perhaps Gill is concerned for others????? Not just herself