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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.

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.

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

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.

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.

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

Hear hear GG13 ??

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/

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.

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.

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.

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 10:51:08

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?

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...

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

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

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!!!

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.

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

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

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 .

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?

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.

dragonfly46 Tue 30-Jul-19 12:32:45

Minniemoo not all the media is pro-Remain and if they are it might be for very good reason. Many economists, business men, farmers, fishermen etc are pro-Remain. As we see the pound sinking to equal the euro and the dollar and see the tariffs which are going to be imposed on exports (that is fact btw it is covered by EU law) we cannot keep burying our heads in the sand and blame the media, the Remainers or even the government these are facts and we need to face up to them.

I reckon Sajid Javid cannot sleep at night wondering where all this money is coming from for Boris's elaborate plans.

varian Tue 30-Jul-19 12:33:17

Why do you say the media are pro-Remain Minnie?

The Express, The Sun, The Daily Mail, The Telegraph are all pro-brexit and together have about 80% of newspaper readership. The pro-Brexit Mail Online is, I believe, the biggest English language news website in the world and as for the Brexit Broadcasting Corporation - they have relentlessly promoted Farage and his lies for twenty years or more.

gillybob Tue 30-Jul-19 12:39:52

There is more than the economy to blame for the reduction in car sales . Especially diesel . With all the threats being banded about no wonder everyone is reluctant to buy a new diesel vehicle . I would like BJ to commission a genuine study on the real effects of diesel versus petrol . Considering electric vehicles are still way off the mark for most drivers no wonder the automotive sector are suffering a huge downturn because people have no idea what to do for the best and are reluctant to invest in a new vehicle that might be taxed off the road sooner rather than later .

GrannyGravy13 Tue 30-Jul-19 12:51:11

Valid point gillybob there is not an electric van available with the capacity we need or range for our deliveries ?

GrannyGravy13 Tue 30-Jul-19 12:52:12

Apologies for the kids I have just been on family whatsapp ??

GrannyGravy13 Tue 30-Jul-19 12:52:37

Flip “kiss” not “kids”!!