No Deal supporters? Can you see any downsides? If so, why are these outweighed by the upsides.

[bellinisurge]

Genuine question. I was prepared to accept WA but that was apparently not sufficient. So, why is No Deal better?

I also love the drama of a crisis.

So far today we've had one brexiter describing Brexit as a suicide bombing mission, and now one who wants Brexit to cause a financial crisis because it'll make the news more interesting.

These people are insane.

I said that a falling fx rate was bad for inflation (let's all try to "join the dots" here..... that means that things will cost more, right?) but that other than that, life would go on as normal for most people, because the incomings and their outgoings are all in pounds

Jesus wept! i thought i read any amount of crap on here until you wrote the above, it really takes the biscuit.
Have you really no idea of what inflation can do to an economy? (and its people) esp one based on importing energy products and final food products?
What exactly happens when wages/benefits do not keep up with inflation?

Going on holiday and the tourist £ really will be the last thing on people's minds.

It is a huge mistake to believe that catastrophes that have happened in other countries cannot happen here.

Wine bottle - After so long, I would love to say a big fuck you to Tusk, Soubry, Grieve, Umunna, Macron and that twat in Ireland

I think the Irish have a bit more justification in telling the UK to fuck you to the UK after all this time. But, hey, whatever floats your boat

Oh dear. Had a feeling some of these threads would develop into dragging up history and nationalism.

Hence I am taking no further part.

Good luck to all. Hopefully you can find a way to be neighbours who support each other.

Interesting what some people's definition of twat is - pointing out how unicorn dreams can't be reality and trying to be civil about it.
My list of "who is a twat", is generally the reverse of that.

Hence I am taking no further part.

Is that a promise? We don't have to read the drivel you post?

Comparing today to 22 June 2016:

• Sterling has depreciated 15% against the dollar and 14% against the Euro.
• inflation is now at the target rate of 2%. It was well below target at 0.5% before the referendum but peaked in the meantime at 3.1%. So inflation is at the ‘ideal’ level in spite of three years of currency depreciation.
• Unemployment is 3.8%. The ONS website says this has not been lower since 1974.

Bear when considering how fx depreciation will affect us, it is irrelevant that we haven’t left. That conversation is about the actual exchange and inflation rates.
Jas are you seriously suggesting that inflation could be catastrophic in this country? We are not Venezuela. Your post just sounds hysterical.

Unemployment may be 3.8% but much employment is insecure zero hours stuff which massages the figures nicely but isn't what people need to avoid living a hand to mouth existence.

I don't know how old you are Megan, if you are old enough to remember the 15% interest rates? Fine if you had savings, horrendous if you were paying a mortgage.

You are right that much of that employment may be low quality but I think that has long been the case. I can’t find data on that.
Yes I was paying a mortgage in the early 90’s and remember it well, tough times. But there is absolutely nothing in any of the reliable projections to suggest we will return to that, thank goodness.

Are you paying a mortgage now @MeganBacon ?

Why do you ask Bellini?

Hence I am taking no further part.

PMSL - that wasn’t even a good flounce! 😂

Bear when considering how fx depreciation will affect us, it is irrelevant that we haven’t left. That conversation is about the actual exchange and inflation rates.

Give it up megan

Happy to now that the facts are there for all you fact lovers to enjoy.

Except they’re not because that wasn’t the original point you made.

This whole discussion started out because you claimed it didn’t matter if people only had 95p in every £1 as they earn and spend in pounds and only buy foreign currency when they go abroad.

The actual figures are irrelevant except to the extent that any reduction in spending power, however it is caused, absolutely will have an affect on people and to claim otherwise is simply ridiculous.

I ask because if you are not paying a mortgage now, chances are you are comfortably off and are more insulated from the economic hit of No Deal.

Not sure what the sobbing is for - I’m only repeating what you said megan

I think quite a lot of unskilled labour was low quality and mind numbingly boring, but there weren't zero hours contracts.

I used to work in textile mills in the summer, doing jobs like bagging vests, on piece work. I can remember a fellow student asking the regulars how they stood this. The answer was that you thought of the next batch and enjoyed the company.

But it was steady work - except if the order book wasn't full, there was the risk of short time work or worse the firm went bankrupt. As they started to do when the work started moving to the far east.

Jas are you seriously suggesting that inflation could be catastrophic in this country? We are not Venezuela. Your post just sounds hysterical

You don't need to go to Venezuela to see what inflation does to wages and standards of living, drop back 30 or 40 years to the UK? though its good to see you believe in UK exceptionalism lol!

Inflation rates of 7 to 10 % would indeed be disastrous for most in the UK.

We have been living in, historically, a period of v low inflation/wages and interest rates.... your assertion that this will continue, unabated, is just idiotic thinking, exactly the same sort that has got us into this mess in the first place.

No-deal brexit is likely to be a global economic event, the world's 5/6th richest economy pulling itself out of the world's largest trading bloc with nothing else in place is unprecedented.

Driving along at 70MPH on a clear motorway is great until you hit a brick wall.
Realising the brake fluid has gone and you haven't got a seatbelt on is still fine until the wall is immediately in front of you.

It is not that the UK economy is about to be buggered, the fact that with Trump and his tariff wars, the possibility of a real war with Iran and a general slowdown in the world economy means that Brexit will hit the UK very hard. The usual mechanisms for recovery are all at risk.

We are not Venezuela. If you really think not being Venezuela is enough to save the economy I think you are deluded. History is full of people who believed in their country to the extent that they couldn't imagine anything bad happening. It never ends well!

This is from the Bank of England’s inflation report dated May 2019.
Page 25 says base rates are projected to be 0.9% by Q22021 and 1.0% by Q2 2022. Good news for anyone paying a mortgage.

This is taken from page 28. “Indicators of medium term inflation expectations to continue to be broadly consistent with the 2% target”
It would be nice if Jas could find a reliable source before calling the Bank of England’s projections “idiotic thinking”.

Venezuela had an economy and standard of lifestyle not too different to Spain around 25 years ago. It has plenty of oil, but you can't eat or drink it (obviously). It is government corruption and incompetence that has trashed the economy so badly that several million have moved to Columbia.
Actions by Putin and Trump to try and 'acquire' the Venezuelan oil are not helping.

Time for a kinder world - why not write to mr Carney and tell him he’s “deluded”. I’m sure he’d value your reasoned input.

megan all of your statistics are just back tracking.

Your original point was that it doesn’t matter to people if their £1 is now only worth 95p

Your figures and your quote.