Brexit uncertainty and financial worries

[Groat]

I'll miss all those pleasant young Poles who've been such decent tenants over the last few years. Since the Brexit ref. there have been far more leaving than coming over to replace them.

Made a nice change to have clean tenants for a while.

Edited by Groat on Wednesday 21st August 14:48

[Pothole]

Nope. Crime might well increase...

[bad company]

Pothole said:

Nope. Crime might well increase...

Or decrease, it’s just theorising.

[DonkeyApple]

Personally, I don’t think that what we are seeing is specifically a Brexit issue. All Brexit has done is act as a catalyst if anything at all. The two true issues are that we’ve created an entire domestic economy based on companies borrowing to synthesise growth and consumers borrowing to synthesise wage inflation. This has gone on unabated for 20 years and we are simply reaching the point that huge numbers of large employers have sold off enough real assets and borrowed enough money to now have very weak foundations and the quietly rising cost of servicing the debt and the slowing ability to keep borrowing at the same pace has left them extremely vulnerable to basic slowdowns in consumer activity. The once mighty retail giants no longer own their property assets but rent them, they have pension holes and have created huge operational costs etc. At the same time, millions of consumers have not just not been saving salary for pensions or for basic savings but have been borrowing on top and are beginning to sober up to the reality that they also have no credible foundations.

Over the last decade we have very many people who have become very wealthy but many more who have technically become poorer and for that group they seem to be waking up from this excess which is why we are seeing a hit in what can be described as non essential consumer spending such as the extra holiday, the new kit when the old kit still works perfectly well, or the bigger car when something more sensible is more prudent.

While Brexit has probably played a role in making people more aware of what they have been doing for the last decade I dont believe it is the reason itself and that the reason is the far bigger matter of massive over consumption for a massive period of time.

[ElectricSoup]

If that's the case, it'd be a pretty bloody stupid time to add Brexit in to the mix.

[DonkeyApple]

ElectricSoup said:

If that's the case, it'd be a pretty bloody stupid time to add Brexit in to the mix.

Or the perfect time as its looking more likely that the US and EU will he reverting to the printing presses so the three Western currencies will devalue together?

[ElectricSoup]

I can only see one currency significantly devaluing at the moment.

[kurt535]

anonymous said:

[redacted]

I agree. They should have used someone from lowestoft/gt yarmouth/clacton instead eh?

[JulianPH]

anonymous said:

[redacted]

I simply want to know what Neil Chambers has to say.

[fido]

Agree with DA. Compared to the .com crash and Credit Crunch this doesn’t even register. That we have had record low rates for a decade and large swathes of the populus live a PCP lifestyle is of much greater concern. Either way, if Boris manages to force Brexit through or we have a GE - it’s just political games - the big issues (impending global recession), Eurozone collapse and US/China friction won’t go away.

[Mojooo]

DonkeyApple said:

Personally, I don’t think that what we are seeing is specifically a Brexit issue. All Brexit has done is act as a catalyst if anything at all. The two true issues are that we’ve created an entire domestic economy based on companies borrowing to synthesise growth and consumers borrowing to synthesise wage inflation. This has gone on unabated for 20 years and we are simply reaching the point that huge numbers of large employers have sold off enough real assets and borrowed enough money to now have very weak foundations and the quietly rising cost of servicing the debt and the slowing ability to keep borrowing at the same pace has left them extremely vulnerable to basic slowdowns in consumer activity. The once mighty retail giants no longer own their property assets but rent them, they have pension holes and have created huge operational costs etc. At the same time, millions of consumers have not just not been saving salary for pensions or for basic savings but have been borrowing on top and are beginning to sober up to the reality that they also have no credible foundations.

Over the last decade we have very many people who have become very wealthy but many more who have technically become poorer and for that group they seem to be waking up from this excess which is why we are seeing a hit in what can be described as non essential consumer spending such as the extra holiday, the new kit when the old kit still works perfectly well, or the bigger car when something more sensible is more prudent.

While Brexit has probably played a role in making people more aware of what they have been doing for the last decade I dont believe it is the reason itself and that the reason is the far bigger matter of massive over consumption for a massive period of time.

Lets say there was some massive 'crash' - what would actually happen though? And wouldn't we just go through this again in 10 years?

The 2008 wasn't a disaster. I mean sure people may have gotten poorer and lost their jobs but haven't we broadly recovered? And no one died from it (probably).

[alabbasi]

It's a st show. Anyone thinking that they're going to do okay is not aware of the down stream impacts from this decision. If you're complaining about how the government is handling it. Remind yourself that this was your vote and that they're trying to deliver on your idiotic decision.

[egor110]

alabbasi said:

It's a st show. Anyone thinking that they're going to do okay is not aware of the down stream impacts from this decision. If you're complaining about how the government is handling it. Remind yourself that this was your vote and that they're trying to deliver on your idiotic decision.

And why did we get the vote in the first place ?

[anonymous-user]

egor110 said:

And why did we get the vote in the first place ?

Mr N Farage
Kippers Corner
Nowhereville
BR3 X1T

Someone's managed to find a good use for him, https://twitter.com/MikkoE17/status/11244234227198...

[DonkeyApple]

rockin said:

egor110 said:

And why did we get the vote in the first place ?

Mr N Farage
Kippers Corner
Nowhereville
BR3 X1T

Someone's managed to find a good use for him, https://twitter.com/MikkoE17/status/11244234227198...

To be fair, it was Cameron and his misguided belief that he could use it as a threat to get a deal from the EU.

However, our economic situation is being mirrored currently in the US, EU and Asia, none of which are faffing about with Brexit.

It’s a global slowdown and thinking it’s just local to us risks incorrect decisions being made.

[anonymous-user]

DonkeyApple said:

....risks incorrect decisions being made.

No danger of any incorrect decisions by Boris. He's taken back control and is steering a clear path to fkdyug xjsyrotmpfirnr.

[bad company]

alabbasi said:

It's a st show. Anyone thinking that they're going to do okay is not aware of the down stream impacts from this decision. If you're complaining about how the government is handling it. Remind yourself that this was your vote and that they're trying to deliver on your idiotic decision.

Don’t we just love someone who thinks over 17 million who voted to leave are all idiots.

[egor110]

rockin said:

egor110 said:

And why did we get the vote in the first place ?

Mr N Farage
Kippers Corner
Nowhereville
BR3 X1T

Someone's managed to find a good use for him, https://twitter.com/MikkoE17/status/11244234227198...

It wasn't though was it .

Farage had a legitimate party the conservatives st the bed that they we're loosing votes so they offered the refurendum bribe to try and keep them .

So if you want someone to blame it's not farage or the brexit voters it's the people who put there party above all else who've created this mess.

[Slyjoe]

bad company said:

alabbasi said:

It's a st show. Anyone thinking that they're going to do okay is not aware of the down stream impacts from this decision. If you're complaining about how the government is handling it. Remind yourself that this was your vote and that they're trying to deliver on your idiotic decision.

Don’t we just love someone who thinks over 17 million who voted to leave are all idiots.

Don't forget they are hard right racists too

[alabbasi]

bad company said:

Don’t we just love someone who thinks over 17 million who voted to leave are all idiots.

I suspect that many of those that voted leave now understand that they were lied to by self serving politicians, not able to deliver anything that they promised.

But for the type of guy that voted 3 years ago on the premise of a lie, yet is still thinking that everything is going to be okay today. Seriously? Even though ministers are resigning or throwing away their careers because they don't want their name on this decision.

I'm going to suggest that they're probably not deep thinkers. It's qualified as I know a bunch of these people, They don't really have their own thoughts on the subject. You can look at their social media timeline which it's full of meme's, probably created someone in Macedonia.

Edited by alabbasi on Sunday 8th September 17:09