Beginning to panic about skyrocketing inflation as a result of a no deal Brexit...

[ManagingLife]

I appreciate this has been done to death on here, judging by the amount of threads on MN about Brexit.

However, I scroll past these threads as I was very much undecided with the vote, though went with remain in the end, and had a degree of faith in the powers that be regardless. That feeling has now turned to utter disbelief at the state of how things are being 'run', if you can call it that at all.

Despite being a low income earner and a tenant, I am a saver and scrimper. I can't afford to cut back any further - I have goals to reach and children to feed, clothe and nurture (I am a newly single parent).

The Bank of England's most recent forecast of the immediate aftermath in the event of a no deal Brexit has left me horrified... I fear destitution is likely if a no deal happens.

Should I start bulk buying and drawing out cash, etc? Or AIBU and hysterical?!?

How do all non EU country's in the world cope?

Their infrastructures have never relied on the EU, so it’s moot

Can't believe how deluded people are, or think that others will help them or the government will.

ime, the less educated a person is, or the less knowledge of history they have, the more they think the govt will - or even can - take care of everything.

we will be in huge trouble if theres no deal.

I'm still waiting for the "are you going to the bank on Monday before there's a queue as you don't want them running out of money do you..."

i cant understand what makes you think that could never happen here.

I don't know enough about economics to know if sky rocketing inflation will be the key problem.

But as the government has stated, food and medicine shortages and civil disorder will be concerns.

The 'brexit' does seem to be a bit of a silly waste of our time and energy tbh, in view of the the 120 000 we have already lost to this regime's welfare state cuts.

But there we are.

How do all non EU country's in the world cope?

By not cancelling hundreds of their existing trade deals overnight for no reason?

A billion in U.K. Is 1million X 1million

No it's not. it's 1000 x £1m

I think, as always, @TheElementsSong has covered it.
Op, there are loads of threads on this and sensible advice on it too.
Glad you are thinking about it.
Keep it simple and proportionate. No one can turn their home into Aldi/Tesco whatever.

*or dozens of trade deals. Or any of them.

How do all non EU country's in the world cope?
By not cancelling hundreds of their existing trade deals overnight for no reason?

for some reason, and yes, this is also mysterious, people dont seem to get what 'no deal' brexit means. in fact half of them seem to think it means nothing changes at all.

@TarragonSauce. I'm also 52 & remember a few recessionsc when people lost their houses through being made redundant. That is not the case here. Currently we have more people in work then ever before & the lowest rate of unemployment. That doesnt change overnight. Also if there was going to ge a fallout from Brexit it is more likely to mean a reduction in interest rates rather than an increase. There will more likely be a need to stimulate the economy than to curb rising inflation.

Haahaa! 'Employment' - 2 hours/week on a zero hours contract counts as being employed. Yes, definitely, devaluation of currency means nada. WTAF? I'm 50 myself. I've lived in places with devalued currencies. They're mostly shitholes with big gaps between rich and poor and tons of crime, but great for the rich.

That doesnt change overnight

yes it does. if theres a no deal brexit. how are you not getting this? its bizarre.

How do all non EU country's in the world cope?

By never being in the EU and thereby never trying to unravel their exit after 40 years plus of social, economic and political union?

Holy moly. The stupidity. This is why we’re in the mess we’re in.

There's an ad on the right for Mercedes-Benz. It's obvious they and BMW won't want to sell to the UK post Brexit even though they sell more cars to us than any other country and I'm sure France will want to keep all their wine and cheese for themselves

You're not in the motor industry, are you. I am. BMW and Merc cannot make enough cars to satisfy worldwide demand. They have already been in discussion with other RHD markets (Japan, S,Africa, and others) to ensure they will pick up the unsold UK allocation if they can't sell to us. Just until they can switch the lines to make LHD cars, when they can shift our allocation to the rest of the world.

It'll be an inconvenience for them, nothing more. It'll be a disaster for us, not that we won't be able to buy new BMWs and Mercs, but that there will be a shortage of spares for the ones we have.

This whole "Europe need us as much as we need them" is a fucking lie. Apart from the Irish Republic. Yes, they would like to keep us in the single market, but make no mistake, we need them more than they need us.

this combination of stupidity and arrogance is so fucking toxic.

they've got no fucking idea.

Spot on, Lifecraft. And for the ROI, well, they may indeed need us, but being part of the EU, they will soon enough not. Massive arrogance about our role in the global economy.

It’s project fear all over again.

Yes, let's look at some of the predictions that were project fear.

The EU won't give us a good deal, and we'll leave with just a bad deal or no deal- project fear.

£350m a week to the NHS on the Brexit bus is a lie - project fear.

It'll cost us billions before we even leave - project fear (£8b spent so far)

I see a theme developing here.

Project Fear will become known in history as Project fact.

@MammaBot211 non-Eu countries elsewhere in the world work by having trade deals. Trade deals that allow them to import and export their goods so that they have everything they need trade deals that take years, if not decades, to write. A lot of these other countries that you are talking about are also members of other trading blocks. We will not have any of these things if we leave without a deal. We will be left with WTO rules. There is only ONE country in the world that only trades using WTO rules and that is Mauritania.

“For those of you not familiar with Mauritania, it’s GDP is $4,714million (0.2% of the UK’s), 50% of its exports consist of Iron Ore, and between 1% and 17% of the population still live in slavery.”

medium.com/@MrWeeble/who-actually-trades-solely-under-wto-rules-1b6127ce33c6

My job is irrelevant if all you want to do is argue about how how fine we will be when we have no one left to trade with.

You're not in the motor industry, are you. I am. BMW and Merc cannot make enough cars to satisfy worldwide demand. They have already been in discussion with other RHD markets (Japan, S,Africa, and others) to ensure they will pick up the unsold UK allocation if they can't sell to us. Just until they can switch the lines to make LHD cars, when they can shift our allocation to the rest of the world.

You are obviously not in the motor industry considering it is world wide decline, even shock horror outside the eu.

If you did work in the industry you would realise that the world wide scrappage scheme that was enacted before brexit has shock horror nothing to do with brexit.

this combination of stupidity and arrogance is so fucking toxic.

I agree, there is reason why it has split political lines and has shown how little some ardent remainers know, especially when it comes to GDP, looking forward to the name changes come the next GE to be honest I doubt many will stand by their ardent remainer name.

How do all non EU country's in the world cope?

There are very very few counties in the world that aren't in a trading bloc or some kind of free trade area. And you probably don't want to live in one.

If this article is to be believed, and I haven't checked sources, the only country that operates strictly under WTO with no agreement other preferential trade agreements is Mauritania. And even rich, powerful and internationally acclaimed Mauritania seems to actually have some preferential trade deals if you look hard. medium.com/@MrWeeble/who-actually-trades-solely-under-wto-rules-1b6127ce33c6

Not the UK after no deal though. We'll show every single other country how its done.

@user1480880826 beat me to it!

this combination of stupidity and arrogance is so fucking toxic.

to continue this, someone has just linked a free to post article from a web developer as source for an argument.,

There is so much ill informed dumb from both sides, the problem with MN is that it has become a laughing stock for the remain side of dumb, and above articles is kind of proof.

When you get into a fact of trying to prove the point of citing some blog shows you are not actually aware of the situation and just followed some facebook like politics

Brexit. Best thing to ever happen to this country.