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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.

jura2 Tue 30-Jul-19 21:13:15

'The exchange rate here on the Costa del Sol is still at €1.10'

do you live there Urmstongran?

It keeps falling, btw.

petra Tue 30-Jul-19 22:13:07

From the Taipei Times.
For the eurozone, the French figures might be just one disappointment in a gloomy week.
Data released today are expected to show growth in the region slowed by half to 0.2 per cent.

Dinahmo Tue 30-Jul-19 22:54:59

Day6 I live in France and none of the French people that I know envy us. They believe that the EU is about more than just trade. They are horrified at what is happening to the UK and don't really understand why. They are also sympathetic.

Someone mentioned that we have the 5th largest economy but we've been 6th since last year. I wouldn't be surprised if we drop to 7th after Brexit.

paddyann Wed 31-Jul-19 00:13:33

you'll drop back once Scotland leaves ,Hammond says you wont be able to pay the debts racked up by the tories ..the 800 million they inherited that s sitting nigh on a trillion now .They depend on the Scottish economy to pay the bills .Nice to hear ONE tory admit it ..at long last

Peonyrose Wed 31-Jul-19 07:16:34

Why are you all looking to Europe? All this doom mongering is depressing, deal with what you have. The decision has been made. Instead of all this talking our country down, support it. There is the USA, Trump won't be forever, as won't Boris, there is Asia a vast opportunity, we will cast our nets further as our world gets smaller.
I wouldn't worry about Scotland. They have a lot of people in just a small area,mif they want to go itcalobe and take on Social care etc. Good luck to them, I hope they don't as I have aways loved them. One thing for sure, you can't depend on a referendum, as people want constant recounts until everyone is bored silly with the whole performance.

Peonyrose Wed 31-Jul-19 07:17:41

Sorry for the typing gremlin, hope you got the gist.

Grandad1943 Wed 31-Jul-19 07:56:17

The last refuge of the leavers. Demand patriotism. Do not talk our country down whatever the problems our leave voting has caused.

Well, it would seem that the international currency dealers have lost confidence in Britains economy due to Brexit. So, perhaps the leavers should ask them to "be patriotic" and not to act against our currency or country.

I feel the response of those dealers will be somewhat short in patriotism.

varian Wed 31-Jul-19 08:11:40

No patriot would ever knowingly inflict harm on our country.

At the time of the fraudulent referendum, people may have voted Leave in good faith, thinking it would benefit the country because that was what they'd been told by the leave liars, but now they know so much more about the damage brexit would do to our country, many realise that no true patriot could support it.

If we love our country, we will fight for the UK to Remain in the EU. We will not bury our heads in the sand or say " everything will be fine if we're optimistic, ignoring the reality.

We will speak up for the truth, pointing out the risks to our childrens future if the brexit madness is not stopped. That is the patriotic thing to do.

Urmstongran Wed 31-Jul-19 08:25:48

I am ‘only’ 64y.
?

Urmstongran Wed 31-Jul-19 08:33:19

No jura2 we don’t live in Malaga but we do choose to spend a lot of time out here.

We did our homework 15y ago when we bought and decided that going forward to early retirement it would be prudent not to count our chickens regarding the exchange rate.

We decided to factor in that sterling against the euro can (and does) go up as well as down so we did our sums on the back of an envelope and worked out that we would could manage if £1 fetched €1.

Just being sensible.
?

Grandad1943 Wed 31-Jul-19 08:34:25

Urmstongran Quote [I am ‘only’ 64y.] End Quote.

SO?

dragonfly46 Wed 31-Jul-19 08:39:33

You are lucky Urmston that you can manage but there are many who can’t especially expats who are living in Europe and living off a British pension.

I too will probably not be too affected by Brexit but I look at the bigger picture.

Urmstongran Wed 31-Jul-19 08:41:43

It was because this had been posted upthread Grandad:

^Glammy57 Tue 30-Jul-19 18:23:56
Momof3. Thank for your reply to UG I totally agree - the “Me Generation” seems to be those over the age of seventy!^

Nonsense!

dragonfly46 Wed 31-Jul-19 08:57:39

Actually I believe the 'me generation' are the under seventies - particularly a lot of young people.

growstuff Wed 31-Jul-19 08:59:17

I disagree with you, dragonfly.

dragonfly46 Wed 31-Jul-19 09:10:27

About what growstuff?
I believe a lot of young people feel entitled which is something I would say our generation never felt.

They are entitled to have children and the state support them.
They are entitled to a car, buy their own home etc.
They are probably the ones who will get their old age care paid for unlike my parents who had to sell their home but just accepted it.

Whitewavemark2 Wed 31-Jul-19 09:16:32

Please don’t include my children in that dragonfly

They have/are both incredibly hard workers and have never felt entitled to anything in their lives.
Everything they have achieved has been entirely through their own efforts unlike so many “entitled” children of the wealthy.

They are not the exception.

But go ahead and generalise why don’t you?

growstuff Wed 31-Jul-19 09:20:54

No idea which generation you are, dragonfly, but I would say many of my peers are incredibly selfish and act/think only in their best interests.

GrannyGravy13 Wed 31-Jul-19 09:32:32

When you have worked all your life, raised a family and help with Grandchildren so that your AC can work, and the inevitable school holiday cover.

When we do get time to ourselves, yes I am flipping selfish, never in my life have I been able to do what I want when I want so when that very rare occasion presents itself I grab it with both hands!!!!

dragonfly46 Wed 31-Jul-19 09:39:37

No WWM2 I do not include my children either in fact it was my children who brought this to my notice.

There are many many hard working young people out there who are caring and kind but there are also those who think the world owes them something. I don't remember this among my peers and certainly not my parents peers.

I am 73 and would not say I am selfish or just think about myself. I care greatly about the world in general and want to try and make it a better place for generations to come.

The only time my parents became selfish was when they were struggling to cope and scared of the future. That I can understand.

GG I don't regard what you do as selfish. Selfishness is doing what you want without regard for anyone else.

dragonfly46 Wed 31-Jul-19 09:43:18

By the way I did say a lot of young people - I do not regard that as generalising.

growstuff Wed 31-Jul-19 09:44:01

Aha! So you're not really a baby boomer. I look around at some of the people my age and wonder what happened to turn the generation which lived through the sixties into the people they are now.

growstuff Wed 31-Jul-19 09:45:14

It's fairly obvious that some people have no idea how benefits and pensions have changed over the last few years.

GrannyGravy13 Wed 31-Jul-19 09:47:20

growstuff I am 62, I think we are all the products of our previous years.

I am not sure how you can generalise about a "generation" as everyone would have had a different experience.

Not all "baby boomers" have lived the dream.

dragonfly46 Wed 31-Jul-19 09:47:37

I was born in 1946 isn't that the time of the baby boom - just after the war?