Are we going to die post-Brexit?

[dbr10]

But the sky still did not fall down.

It made you poorer

 

[dbr10]

But nowhere near as bad as the collapse of the pound at the end of (I think it was) 2007. If my memory serves me right, the pound slowly went from 1.5 to the Euro almost to parity not in a day but over several months. A big one day fall is rarely a big fall per se.

Do you have the figures

 

[dbr10]

Except for those folk who were about to cash in their pension plans. I don't suppose the future looked very bright for them.

It made everyone in the country who could not protect themselves poorer; and it took us from the 5th biggest economy to the 6th, overtaken by France

 

[Gaz-M]

I don't think you quite understand the situation. Our trade with them is IIRC over 40 pc; there's with us is around 15pc. They will take a hit, but they won't compromise to help us. They are more concerned with maintaining the integrity of the EU and it's rules. They are looking after EU27 interests, not ours.

Well we will see but to me a farewell to these so called EU allies is for the best

 

[dbr10]

I agree on that point. Phillip Green needs to be prosecuted and pdq!

Still has his knighthood. Crooks are protected, not dealt with.

 

[dbr10]

And would you trust China to supply your insulin?

It wouldn't be licensed to be used here

 

[dbr10]

Single day drop...yes.
However, it could be argued that sterling was very much over valued .

Evidence?

 

[dbr10]

It didn't.
The rise in relative value of my $shares sent us all off for an excellent holiday...

Happy days...

Well done. Most people didn't benefit though

 

[dbr10]

How did we survive before the EU was imposed on us?
I sit on BS/EN tech committees, I've got meetings agree and planned for well into 2019.
The world will continue.
Does anyone on this site truly believe that their supply of insulin, metformin, bananas and French wine will be effected post Brexit?
Give over.

Sick man of Europe in relative economic decline. Study supply chains. In particular JIT.

 

[librarising]

Evidence?

https://fullfact.org/economy/exchange-rates-and-imf/

 

[dbr10]

Couldn’t agree more, the big producers of insulin and other meds will all protect their businesses and their lovely exports to the UK

That's not the problem

 

[Charis1213]

Because it will make the bad worse and what was good will be lost.

But don't worry I'm sure dear Mrs May will share her stash of insulin with every one and cousin Boris will make sure every thing turns out well for the jingoistic xenophobes of this nation

I think we will be better out of it , we don't need the eu , but they do need us , the gravy train for a starter .

 

[dbr10]

The big difference being, of course, that from the peak of 2007 to the trough of 2009, there was a systemic financial global crisis going on.

The one day drop incurred a hit that has also gotten bigger, and from whence we have yet to see a recovery. Most of the FX market expects further drops post a no-deal brexit. And of course this is a purely UK driven effect.

Exactly right Tim.

 

[dbr10]

We have nothing to worry about on the FX score.
If sterling and the Euro hit parity again, it's not the end of this or any other world.
I'd be paying more attention to Italy...now THAT is a big deal.

It will push up prices and make everyone poorer. We don't know what is going to happen with Italy

 

[dbr10]

Depends on whether you consider a double whammy of increased prices as a result of FX parity and increased duty as a result of no-deal brexit "nothing to worry about"....!

Maybe Dave is rich

 

[dbr10]

No!
But I will die of boredom if they DONT get on with it!!

You still don't realise how complicated all this is. How is that?

 

[dbr10]

Duties could equally reduce.
The facts are that no one knows the facts

No. We have tariff free access to the EU at the moment. Tariffs will only increase without a proper deal.

 

[dbr10]

You are too young to remember the Millenium Bug that was supposed to happen as the year 2000 dawned and computers didn't know if it was 2000 or 1900 as they only worked on the last two digits. For months before analysts speculated that entire computer networks would crash, causing widespread dysfunction for a global population that had become irreversibly dependent on computers to hold, disseminate and analyze its most vital pieces of information. What actually happened was that nobody noticed. The media love an impending disaster to speculate about, just try not to get caught up in it.

This nonsense has been repeated many times on Twitter and keeps resurfacing. It's is completely false. The reason that Y2K bug was not a problem was because hundreds of programmers spent many man years making sure it wasn't

 

[dbr10]

A vast amount of work went on behind the scenes to make sure that nobody noticed, to be fair. That doesn’t seem to be the case this time, the Minister in charge of all this didn’t even seem to be aware that the Dover-Calais link was important...

Exactly right

 

[dbr10]

I was also in a computer based industry at the time so I know about preperations, but my point for the OPs benefit was that the media played up the doom and gloom. Stories of people beavering away making preparations do not sell newspapers. Unless you are in the relevant departments in the civil service how would you know if preparations are being made or not?

There's no evidence that possible problems are being dealt with.