To think we are heading towards an economic crisis?

[crunchymint]

The pound has fallen as Brexit approaches and there are no proper deals in place.
Retail spending in Britain is down.
The Turkish Lira fell by 20% today.
The Russian Ruble has also fallen.
All of this will have an impact on the economy. I see us hurtling towards an economic crisis.

helmet Cults use repetitive mantras to attempt to close down debate.

Yanbu. The best we can hope for is a recession, they are cyclical there’s always going to be another recession.
But I am worried it will be a particularly hideous recession.

So many people have no savings at all. Some because they have been irresponsible, borrowing more than they really should. Others just for basic day to day living.

I don’t really remember a time when internet rates where high (I’m nearly 40). I think a rise in interest rates is going to be a huge shock to many.

I remember the jump to 15% during Thatcher, sticky times, I knew several who lost their homes through repossessions. But there were still council houses, free HE, and a welfare state then.

Where is the evidence of doom?

ig.ft.com/sites/numbers/economies/uk/

The above is an excellent summary of recent economic indicators; none are flashing red. Sure, if you look deeply enough, you can find areas for concern. However, you can also find reasons to be cheerful.

Personally I still think we are on a ‘be bold when others are fearful’ time when it comes to investment. This thread shows that many are probably waiting for a crash to invest.

. . . Waiting for a crash to invest. Yes, for the few not the many. Hard to share your enthusiasm.

Larry, two things:

Brexit hasn't happened yet. But our growth is slower than it 'should' be (I'm not convinced the growth should be the be all and end all).

Its not just about the economy for a lot of people. Its about the type of place we live in. The politicians advocating Brexit are not offering a vision of the UK that I can embrace.

And we already have a welfare crisis - rough sleeping, food banks, NHS stretched to the limit, public services cut, school in finding crisis, charities under massive pressure... There is no slack in the system.

The idea of speculators making a killing out of it doesn't sit well with me. Johnson. R-M and Farage are no better than carpet-baggers and asset-strippers.

ADark,

'Its not just about the economy for a lot of people. Its about the type of place we live in. The politicians advocating Brexit are not offering a vision of the UK that I can embrace.'

Not really what this thread is about, which is an economic crisis.

'The idea of speculators making a killing out of it doesn't sit well with me. Johnson. R-M and Farage are no better than carpet-baggers and asset-strippers.'

This does not make a lot of sense to me. You might not like their politics but what assets are they stripping? I am not seeing them advocating selling assets.

Charlatans, shysters, chancers, spivs and con me, come one, come all. UK fire sale. Family silver all gone but nhs still available, a few spondooliks left to be made from education, flogging off final council services shortly. He who undercuts all will win, but win win really. Once youve asset stripped everything of value, you can return your ailing ex-statutory service to public ownership. Hurrah for taxpayers. SUCKERS

YANBU

Personally I still think we are on a ‘be bold when others are fearful’ time when it comes to investment. This thread shows that many are probably waiting for a crash to invest

We had a crash in 2008 and few in the UK invested in training & manufacturing after that, one reason productivity is so poor compared to many of our competitors, even if unemployment is apparently lower, not something i'm convinced about if 29 people are still applying for each low skilled job and 18 for skilled work.

Investing in stocks and shares, a few hedge fund managers and Corp CEO's becoming super rich doesn't make the man in the street wealthier, unless you think annuity rates going up benefits the many?

I see us hurtling towards an economic crisis

Yup-The car company blamed withdrawal from the EU for a £760m drop in profitability in 2017.

www.independent.co.uk/news/uk/politics/brexit-ford-car-warning-uk-politicians-take-action-protect-business-leave-eu-a8498131.html

@MrHickmott
All these organisations have cut UK jobs or moved ops to the EU die to Brexit. At the end of the thread I will provide a link details/evidence.
For full details go to facebook.com/BrexitWrecksIt . Each is supported by a press article and there is a spreadsheet giving dates, no of jobs, reasons. Fill your boots.

twitter.com/MrHickmott/status/1031122261137338368

100s and 100s of businesses.

That’s quite a list.

O look. Private prison returned to state control today. Dont know how much cash the company has trousered but so what? Taxpayer footing the bill for all of it. Happy days.

There are also lots of individuals relocating who don't make the stats. I heard of one Contractor yesterday, relocating because the uncertainty means that EU firms aren't awarding contracts because the can't be sure they will be fulfilled. We haven't left yet. I don't see the wonderful easy opportunities with the rest of the world opening up either.

Some of the job losses listed aren't directly related to Brexit though - Homebase's problems are partly due to the Australian firm which bought them, misunderstanding the UK market.

@soechristian
The following EU countries beat UK’s youth unemployment (which is 11.7%):
Ireland (11.4%)
Bulgaria (10.9%)
Poland (10.8%)
Austria (10%)
Slovenia (10%)
Hungary (9.9%)
Latvia (9.9%)
Denmark (9.1%)
Czech Republic (8.4%)
Estonia (7.9%)
Netherlands (7.2%)
Germany (6.2%)
Malta (5.5%)