Service sector economy has collapsed since Brexit

mellowsun

Well done Leavers!

http://www.theguardian.com/politics/2016/jul/22/britains-economy-shrinking-at-fastest-rate-since-2009-says-survey

axisus

Chancellor Philip Hammond, speaking in China, said the report showed the Brexit vote had damaged confidence and created a period of uncertainty.

What we need is the Tampon of definiteness to redress the balance.

monquixote

Anyone want to take a bet how many years it will be before our economy is back up to pre-brexit levels.

5?

10?

ESBlonde

I reconneed ten years to get back to previous levels and that just puts us ten years behind. By then I'll be a pensioner so quite buggered. Still we'll have our country back eh!

ftumch

mellowsun said:

Well done Leavers!

Thanks
Finally some recognition! 

Myranda

While anecdotal I have been told by all the employment agencies in town that jobs dried up on Brexit. Companies who were looking called to cancel and instead did cost-cutting-measures... 

As a result I've had a pretty shitty summer job wise

Clarky

awesome….
I hope they're pleased with the future they've placed in front of us..

ftumch

Yep

Clarky

if I recall correctly, a great many that voted to leave were at the lower end of the pay scale and long term unemployed..
I'd have thought that these would be the people hit the hardest by Brexit and a subsequent economic downturn
it just makes no sense to me at all..

crunchman

So let's hitch ourselves to bankrupt Greece, and the Italian banking crisis, and the French pensions crisis instead.  Pain now and diversified trade with growing nations in 10 years time, or "stability" now and being part of a bloc that is going down the pan and will be much worse off in 10 years time.

p90fool

crunchman said:

 Pain now and diversified trade with growing nations in 10 years time, or "stability" now and being part of a bloc that is going down the pan and will be much worse off in 10 years time.

That's pure speculation, whereas we KNEW Brexit would fuck things up and we banged on about it for months in advance. 
Or are you going to call it hindsight or a lucky guess? 

DesVegas

This town .. Ahhhhh ahhhhhh

Gassage

crunchman said:

So let's hitch ourselves to bankrupt Greece, and the Italian banking crisis, and the French pensions crisis instead.  Pain now and diversified trade with growing nations in 10 years time, or "stability" now and being part of a bloc that is going down the pan and will be much worse off in 10 years time.

How on earth can you even come close to that level of insane and inane gamble? You may as well bet on flies crawling up a wall.

I also love the way '10' years is quoted- mainly as you lot are clueless  and are relying on faith, hope and charity, none of which are recognised by Stadard and Poors.

Rocker

It looks bad when all the leavers camp have left.. Northern Ireland is in a spin too, economically they may have to leave the UK and join the Republic. If not, they will go down even quicker than any other part of the UK. Not a situation that brings any joy to us living south of the border.

TTony

More over-dramatics and sensationalist reporting/interpretation.

The more that people talk about a collapse in confidence, the more likely that there will be a collapse in confidence.  It's self-fulfilling.  

The vote's been done, the decision is made.  We either moan & groan about how bad things are now going to be and point fingers at people who voted for it all, or we get on with the new future and work on the positives.

On the upside, I'd much rather that May was running the show for us rather than Cameron/Osborne or Johnson/whoever.  Even more on the upside, the Labour Party will either implode or get rid of Corbyn and maybe start to become an effective opposition.

As a service sector worker myself, all the chatter is very positive, lots of work ahead, else I wouldn't be looking at writing the biggest cheque I've ever written (I've mentioned that before).

Neil

I think it comes down to who you believe.

I read today that the IMF, so scathing of Brexit has admitted that our projected growth next year is still higher than France and Germany and that the markets have proved resilient.

I could have told them that as my portfolio has gone up considerably since brexit....and that's not anecdotal

The first post is courtesy of the Guardian.

This link via the Telegraph says almost the opposite....

 http://www.telegraph.co.uk/business/2016/07/21/so-far-so-good-for-the-post-brexit-economy/

Chalky

Well the pub's round here haven't seen any drop in trade and a mate of mine has got the go ahead from his client for a large project spending almost £2m a month until early 2018. So I guess it depends on which particular anecdotes you pick?

Bogwhoppit

The worlds going to explode, my teeth are going to fall out and the moon is going to hit the earth - all because of Brexit.

My nan stopped pissing herself, the only gay in the village is now straight, the local Police let me off murder - all because of Brexit.

The Queen has taken up Morris dancing, Prince William has announced a fee sex-night with his wife over a pint of old wallop and Jeremy Vine is voting Labour - all because of Brexit.

My piles have healed, I found a spare Ferrari under the carpet, the dog now talks in his sleep - all because of Brexit.

What did Brexit do for you today ?

monquixote

I guess we'll all find out one way or another in autumn when the financial figures come out. 

Personally I don't have any interest in things possibly being better in ten years. For me that's the rest of my 30's and half of my 40's gone. For my kids that's the entirety of their childhoods.

I should also add that making the best of it and thinking we've made a horrific mistake aren't mutually exclusive positions and as Ian Hislop pointed out just because you lose a vote doesn't mean you lose the right to continue pushing your agenda.

JezWynd

The more that people talk about a collapse in confidence, the more likely that there will be a collapse in confidence.  It's self-fulfilling.  

Wisdom and common sense. We haven't even left yet (and I'm somewhat doubtful if we ever will) yet so many are getting into a lather. It was a survey, the same surveys that said Remain would win. 

TTony

monquixote said:

I guess we'll all find out one way or another in autumn when the financial figures come out. 

But we won't.  We never will.

If there economy has taken a dip, it'll be because of Brexit.  If GDP is up 2%, it'll "only" be 2% because of Brexit - it would have been up 5% if it wasn't for Brexit.  Etc.

On the day after, the papers were full of headlines about how many £bns had been wiped off the "value" of the UK and everyone's pensions because of the fall the FTSE-100 took.  Headlines.  Doom & gloom.  All due to Brexit.  All the fault of anyone who voted Leave.

Yup, the FTSE-100 fell 300 points.  It wasn't a good day.  Less than a month later, its 400 points higher.  So all those £bns that had been lost, have been put back, twice over.  Did anyone see the headlines?



Point1:  Well, things didn't turn out so badly then.
Point2:  There's no way of knowing whether things would have been better still - or worse - if the vote had gone the other way.

But unless someone has a foot in a parallel universe in which we voted Remain, we can never know what the true impact was.  It'll just be supposition and interpretation - and most interpretations will either be selectively chosen or deliberately misrepresented to fit with the commentator's pre-vote prejudice.