Gransnet forums

News & politics

The economy.

(270 Posts)
Whitewavemark2 Tue 30-Jul-19 07:59:49

This morning at Gatwick.

The pound is at parity with the dollar. This has NEVER happened in its history.

The pound is worth now about 87p against the euro.

The implication for the economy is dire.

Minniemoo Tue 30-Jul-19 12:20:21

Nonnie. The media are pro-Remain which is why we are getting bombarded with doom and gloom.

As for money, we gave the EU £13 billion last year and they gave us £9 billion back. For us to spend on projects that they all have to approve. I suppose Boris will have a few extra pennies once we've left the EU.

Nonnie Tue 30-Jul-19 12:10:40

Back to the OP. I monitor the rate of the £ against the $ and can tell you that it was 1.62$ to the £ in 2016 and was yesterday 1.22$ to the £. This is the direct exchange rate not the rate you pay from a trader. This means the £ has dropped by 25% which should worry everyone who cares about the country.

DH and I were discussing this over coffee this morning and realised that we can cope with prices going up but so many others can't. Just the two examples on the news last night, 40% tariffs on Lamb exports and 10% on cars! Of course the Welsh farmers and scared and we look like losing the rest of our car industry. Did anyone see that promised by the Leave campaign.

BJ is going round the country making promises of spending lots more money but not saying where that money is coming from. Can we believe him now after all the lies he told in 2016?

gillybob Tue 30-Jul-19 12:04:46

I don’t think you can embrace any good things in life while you are worrying about money . Impossible to enjoy the sunshine (although here in the North East I would add what sunshine?) , the family and the outdoors when you can’t pay your rent, mortgage and other essentials .

jura2 Tue 30-Jul-19 11:57:48

Jabberwork - could you enlighten us as to what you think 'it has become?'

Labaik Tue 30-Jul-19 11:55:12

I bumped into someone I used to work with last week. She said her husband had been so upset and worried about Brexit that it had made him ill. There is no sympathy/empathy from leave voters towards those of us that look on it with horror.

Jabberwok Tue 30-Jul-19 11:53:46

Totally agree with you GG13. If only the EEC could have stayed just that. Economically an excellent idea, what it's become? A complete nightmare and set to get worse! We need to get out asap!!!

Whitewavemark2 Tue 30-Jul-19 11:50:40

ug that is so bad. You can’t possibly mean what you said.

Labaik Tue 30-Jul-19 11:27:53

'It’s not all about money'. Some people have already lost their jobs; others are facing the prospect. What a silly, simplistic phrase to use...

jura2 Tue 30-Jul-19 10:51:08

Do you have children or grand-children? Will you really NOT care if and when they lose their job. If and when the NHS is no longer there to care for them? the list could be very long ...

not care at all about their future?

varian Tue 30-Jul-19 10:50:57

Peter Howard, in a letter to The Sunday Times, points out that Northern members of the eurozone are on average 22% wealthier than the UK. These are the members with which we have most in common, politically, culturally and economically. Their average income per capita last year was £45,000, compared with our £37,000.

Of course, brexit could damage the economies of all EU countries, but no-one disputes the fact that our economy would be the worst hit, and would be devastated by a no-deal brexit, so the gap between us an our northern European neighbours would widen, thanks to our apalling Uk government.

jura2 Tue 30-Jul-19 10:49:36

growstuff- and all money traders are happy, very happy- making tons of money on 'ordinary' people, without a care in the world. ERG lot are all linked to high finance and must be having a ball.

Happy Urmston- oh yes, the sun is shining, Minou and Emma are sitting here with me, off to the lake for a swim in a mo. It's gorgeous indeed. But don't tell me, please, that I have no right to be concerned- when today we hit the minus 60% of income. Plase, try to imagine that 60% is wiped out of your income- and there is nought you can do about it- just when you are having to pay massive medical bills.

By anti-Brexit stance has actually nothing to do about our own personal situation btw.

Urmstongran Tue 30-Jul-19 10:28:56

I don’t care where we are as a country on the economic world stage. Last time I read about it we were 5th I think. Some economist said the U.K. will have a similar status to Guernsey. So what?

I bet people living in Guernsey are pretty darned happy! It’s not all about money. It’s quality of life, our families, the sun shining, our gardens and pets.

C’mon folk. Try to be happy. We’re a long time dead.

Whitewavemark2 Tue 30-Jul-19 10:25:04

Oh right. That clearly makes it all better.

As we tumble into recession and struggle to pay for our food, face empty shelves and drug shortage etc, at least we can console ourselves that other countries are doing worse than us.

Except of course as our economic outlook worsens that will be no longer true.

MaizieD Tue 30-Jul-19 10:22:16

Has anyone looked at the economic growth of France, Germany, Italy etc, these are all struggling more than the U.K.

Evidence please, GG13. The last figures I saw put the UK very near the bottom of the growth figures for EU member states.

In brief:

fullfact.org/economy/uk-economic-growth-higher-europe/

lemongrove Tue 30-Jul-19 10:12:30

Hear hear GG13 ??

GrannyGravy13 Tue 30-Jul-19 10:04:26

Has anyone looked at the economic growth of France, Germany, Italy etc, these are all struggling more than the U.K.

Riots in Paris for 37 weeks on the bounce, with appalling level of violence from the Gendarmes and National Guard, none of which is wing reported on MSM.

German Bundesbank is in trouble to the sum of trillions of Euros.

Italian Mr, Salvini refusing to "toe the EU line".

Eastern member States refusing to take any migrants as they do not want to become diverse Countries.

All these are easily verified if you are in any doubt.

The original EEC was a good idea, the behemoth which the EU has become increasingly untenable.

humptydumpty Tue 30-Jul-19 10:00:52

Ug: "Time to buckle up! The next few weeks are going to be pretty stormy."

What a ridiculously simplistic viewpoint.

MaizieD Tue 30-Jul-19 09:57:40

^It’s ramped up since Boris has promised we are leaving on 31 October

But all politicians tell lies, Ug. Especially Johnson who has a long track record of lying. hmm

Whitewavemark2 Tue 30-Jul-19 09:57:21

leavers as you are the ones who chose this course of action, then you shouldn’t be surprised that you are asked what should be done when life saving drugs are in short supply or food is rotting in ports.

You cannot slide away as your previous leader did. You must take full responsibility for what we are facing.

crystaltipps Tue 30-Jul-19 09:54:38

Leavers trumpeting about the U.K. being one of the worlds biggest economies forget it got to that position whilst being a member of the EU. The Empire was the last century folks!

gillybob Tue 30-Jul-19 09:53:41

I’ve always thought that these city traders have far too much power and can effectively control the economy by pushing currency either was for their own gains . They are ruthless and will only see ££££ signs. To them it’s like one giant game of Monopoly where there is only one winner !

crystaltipps Tue 30-Jul-19 09:52:52

If course the economy going down the pan won’t be the fault of Brexit will it? It’ll be the fault of the gloom mongers and the EU refusing to give into our demands.

Urmstongran Tue 30-Jul-19 09:51:31

Thank you GG13 for being the voice of reason regards medicines. As you rely on them to stay alive your voice on this subject counts so much more than mine would.

Yet you still voted To Leave the E.U.

So much hyperbole getting spouted right now. It’s ramped up since Boris has promised we are leaving on 31 October.

Time to buckle up! The next few weeks are going to be pretty stormy.

lemongrove Tue 30-Jul-19 09:51:11

It’s ludicrous to expect GNers to ‘concentrate on how to
Actually prevent drug shortages happening’........the job of government depts I believe!
It has become quite the thing on here to demand answers from posters for things/situations that they have no control over.Write to the government if you’re worried about possible drug shortages.

EllanVannin Tue 30-Jul-19 09:40:20

This is Brexit for you with worse to come.
Am I " bovvered " ? No, because this is just the start of one of the best things to happen to show/prove to the Brexiteers that their vote was wrong, with more turmoil to follow----bring it on !

I knew this 3 years ago. You didn't have to be a Philadelphia Lawyer to work out how devastating it would be to this country.