Discussion:
Brexit economy: sterling fall hits public finances and fails to boost trade
(too old to reply)
MM
2017-07-24 08:08:10 UTC
Permalink
"The sharp fall in sterling triggered by the EU referendum result is
having an adverse effect on Britain’s already weak public finances but
has yet to bring about the expected improvement in the trade deficit,
a Guardian analysis of the economic news of the past month shows.

"In a period in which business confidence took a hit from the
government’s loss of its overall majority in the general election, the
Guardian’s monthly tracker found little evidence that the impact of a
more competitive currency was offsetting a slowdown in consumer
spending caused by dearer imports.

"The latest data suggests the first official estimate of growth in the
second quarter -- due on Wednesday -- will show a modest pickup from
the 0.2% recorded in the first three months of 2017 but will not match
the robust expansion recorded in the first six months after the Brexit
vote."

"The public finances were £2bn deeper in the red in June than in the
same month of 2016 -- with half the rise due to the higher debt
interest on government borrowing caused by higher inflation.

"The former Bank of England policy maker, Andrew Sentance, said he
expected the second quarter growth figures to show the economy was
expanding at a annual rate of just 1% in the first six months of the
year.

" 'It is not hard to explain why the momentum of consumer spending has
stalled so badly,' said Sentance, now a senior economic adviser at
PricewaterhouseCoopers. 'Real wages are now falling, even though
inflation fell back to 2.6% in June. The main reason for the fall in
inflation was the drop in the oil price, but it is still reasonable to
expect inflation to rise above 3% later this year as the weakness of
sterling continues to feed through to the prices paid by consumers.' "
https://www.theguardian.com/politics/2017/jul/24/brexit-economy-sterling-fall-hits-public-finances-and-fails-to-boost-trade

Oh dear, Norman! Interest rates might rise above 3%! What on earth
shall we do? Buy gold?

MM

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Norman Wells
2017-07-24 09:50:58 UTC
Permalink
Post by MM
"The sharp fall in sterling triggered by the EU referendum result is
having an adverse effect on Britain’s already weak public finances but
has yet to bring about the expected improvement in the trade deficit,
a Guardian analysis of the economic news of the past month shows.
"In a period in which business confidence took a hit from the
government’s loss of its overall majority in the general election, the
Guardian’s monthly tracker found little evidence that the impact of a
more competitive currency
So, the pound is more competitive! That's good, isn't it?
Post by MM
was offsetting a slowdown in consumer
spending caused by dearer imports.
And spending on imports is DOWN!
Post by MM
"The latest data suggests the first official estimate of growth in the
second quarter -- due on Wednesday -- will show a modest pickup from
the 0.2% recorded in the first three months of 2017
Growth is UP!
Post by MM
but will not match
the robust expansion recorded in the first six months after the Brexit
vote."
No reason why it should.
Post by MM
"The public finances were £2bn deeper in the red in June than in the
same month of 2016 -- with half the rise due to the higher debt
interest on government borrowing caused by higher inflation.
"The former Bank of England policy maker, Andrew Sentance, said he
expected the second quarter growth figures to show the economy was
expanding at a annual rate of just 1% in the first six months of the
year.
So, growth is UP again!
Post by MM
" 'It is not hard to explain why the momentum of consumer spending has
stalled so badly,' said Sentance, now a senior economic adviser at
PricewaterhouseCoopers. 'Real wages are now falling, even though
inflation fell back to 2.6% in June.
And inflation is DOWN!
Post by MM
The main reason for the fall in
inflation was the drop in the oil price, but it is still reasonable to
expect inflation to rise above 3% later this year as the weakness of
sterling continues to feed through to the prices paid by consumers.' "
https://www.theguardian.com/politics/2017/jul/24/brexit-economy-sterling-fall-hits-public-finances-and-fails-to-boost-trade
Oh dear, Norman! Interest rates might rise above 3%! What on earth
shall we do? Buy gold?
No, he's talking about the inflation rate. If you don't know the
difference between that and interest rates, you really shouldn't be
pontificating.
jew pedophile Ron Jacobson (jew pedophile Baruch 'Barry' Shein's jew aliash)
2017-07-24 14:12:45 UTC
Permalink
Post by Norman Wells
Post by MM
"The sharp fall in sterling triggered by the EU referendum result is
having an adverse effect on Britain’s already weak public finances but
has yet to bring about the expected improvement in the trade deficit,
a Guardian analysis of the economic news of the past month shows.
"In a period in which business confidence took a hit from the
government’s loss of its overall majority in the general election, the
Guardian’s monthly tracker found little evidence that the impact of a
more competitive currency
So, the pound is more competitive! That's good, isn't it?
For whom? For what?
Post by Norman Wells
Post by MM
was offsetting a slowdown in consumer
spending caused by dearer imports.
And spending on imports is DOWN!
We can't afford them any more!
- -





"We CAN hide forever."
- Klaun Shittinb'ricks (1940 - ), acknowledging that he will
NEVER prove where he infests or give his real jew name

"Die Juden sind unser Unglück!"
- Heinrich von Treitschke (1834 - 1896)

"First they came for the Socialists, and I did not speak out
because I was not a Socialist. Then they came for the Trade
Unionists, and I did not speak out because I was not a Trade
Unionist. Then they came for the jews, and I did not speak out
because I did not give a shit. Then they came for me and there
wasn't a single commie bastard left to speak for me."
- Martin Niemöller (1892 - 1984)

Illuc nisi Dei gratia vadam.
- Revd Terence Fformby-Smythe (? - )
Sick old pedo Andrew "Andrzej" Baron (aka "Ron Jacobson"/etc)
2017-07-24 14:42:23 UTC
Permalink
In article <***@4ax.com>,
A shiteating cowardly nazoid sub-louse PEDO named Andrew "Andrzej"
Post by jew pedophile Ron Jacobson (jew pedophile Baruch 'Barry' Shein's jew aliash)
We can't afford them any more!
And your pirated, defective software, old pedo? Can anyone afford it?

<quote>

Original Microsoft CD in jewel case with CD key sticker on the back.
Full version.
GBP 30=00 incl recorded delivery postage.
(sorry, spamtrap in original message)
e-mail to: ***@ukgateway.net

</quote>
The Peeler
2017-07-24 15:43:25 UTC
Permalink
On Mon, 24 Jul 2017 07:12:45 -0700, serbian bitch Razovic, the resident
psychopath of sci and scj and Usenet's famous sexual cripple, making an ass
of herself as "jew pedophile Ron Jacobson (jew pedophile Baruch 'Barry'
Post by jew pedophile Ron Jacobson (jew pedophile Baruch 'Barry' Shein's jew aliash)
Post by Norman Wells
So, the pound is more competitive! That's good, isn't it?
For whom? For what?
None of yours, Retardovic!
Post by jew pedophile Ron Jacobson (jew pedophile Baruch 'Barry' Shein's jew aliash)
Post by Norman Wells
Post by MM
was offsetting a slowdown in consumer
spending caused by dearer imports.
And spending on imports is DOWN!
We can't afford them any more!
"We", you dumb housebound psychotic serbian piece of shit? LOL
--
The top 5 truths about poor dumb Razovic, our colostomy bag wearing resident
psychopath, aka "The Rectum":

the desperate psycho can't SLEEP anymore,
she can't get out of the house anymore,
she got NOBODY to talk to anymore,
she can't FUCK anymore,
she got no life outside Usenet AT ALL!
R. Mark Clayton
2017-07-24 14:58:21 UTC
Permalink
Post by Norman Wells
Post by MM
"The sharp fall in sterling triggered by the EU referendum result is
having an adverse effect on Britain’s already weak public finances but
has yet to bring about the expected improvement in the trade deficit,
a Guardian analysis of the economic news of the past month shows.
"In a period in which business confidence took a hit from the
government’s loss of its overall majority in the general election, the
Guardian’s monthly tracker found little evidence that the impact of a
more competitive currency
So, the pound is more competitive! That's good, isn't it?
Yes if you are primary producer in the UK - so fish farms, papermakers with forests, potters with clay pits and farmers are having a good time.

Pretty crap for the other 65 million or so paying inflated prices for imported goods.
Post by Norman Wells
Post by MM
was offsetting a slowdown in consumer
spending caused by dearer imports.
And spending on imports is DOWN!
No UP actually https://www.ons.gov.uk/economy/nationalaccounts/balanceofpayments/bulletins/uktrade/may2017

see graph figure 1 if you don't under stand numbers to the extent that you can't tell up from down.
Post by Norman Wells
Post by MM
"The latest data suggests the first official estimate of growth in the
second quarter -- due on Wednesday -- will show a modest pickup from
the 0.2% recorded in the first three months of 2017
Growth is UP!
Post by MM
but will not match
the robust expansion recorded in the first six months after the Brexit
vote."
No reason why it should.
Post by MM
"The public finances were £2bn deeper in the red in June than in the
same month of 2016 -- with half the rise due to the higher debt
interest on government borrowing caused by higher inflation.
"The former Bank of England policy maker, Andrew Sentance, said he
expected the second quarter growth figures to show the economy was
expanding at a annual rate of just 1% in the first six months of the
year.
So, growth is UP again!
Post by MM
" 'It is not hard to explain why the momentum of consumer spending has
stalled so badly,' said Sentance, now a senior economic adviser at
PricewaterhouseCoopers. 'Real wages are now falling, even though
inflation fell back to 2.6% in June.
And inflation is DOWN!
One month. Otherwise it has risen steadily since last June and will almost certainly continue to do so as the effect of the fallen pound work through.
Post by Norman Wells
Post by MM
The main reason for the fall in
inflation was the drop in the oil price, but it is still reasonable to
expect inflation to rise above 3% later this year as the weakness of
sterling continues to feed through to the prices paid by consumers.' "
https://www.theguardian.com/politics/2017/jul/24/brexit-economy-sterling-fall-hits-public-finances-and-fails-to-boost-trade
Oh dear, Norman! Interest rates might rise above 3%! What on earth
shall we do? Buy gold?
Bit late now. You [and I!] should have bought it when that numpty Gordon Brown sold off half the UK reserves at around $200 per oz.
Post by Norman Wells
No, he's talking about the inflation rate. If you don't know the
difference between that and interest rates, you really shouldn't be
pontificating.
Norman Wells
2017-07-24 15:18:56 UTC
Permalink
Post by R. Mark Clayton
Post by Norman Wells
Post by MM
"The sharp fall in sterling triggered by the EU referendum result is
having an adverse effect on Britain’s already weak public finances but
has yet to bring about the expected improvement in the trade deficit,
a Guardian analysis of the economic news of the past month shows.
"In a period in which business confidence took a hit from the
government’s loss of its overall majority in the general election, the
Guardian’s monthly tracker found little evidence that the impact of a
more competitive currency
So, the pound is more competitive! That's good, isn't it?
Yes if you are primary producer in the UK - so fish farms, papermakers with forests, potters with clay pits and farmers are having a good time.
Pretty crap for the other 65 million or so paying inflated prices for imported goods.
Then buy British! Or don't buy at all. It's your choice.
Post by R. Mark Clayton
Post by Norman Wells
Post by MM
was offsetting a slowdown in consumer
spending caused by dearer imports.
And spending on imports is DOWN!
No UP actually https://www.ons.gov.uk/economy/nationalaccounts/balanceofpayments/bulletins/uktrade/may2017
see graph figure 1 if you don't under stand numbers to the extent that you can't tell up from down.
Post by Norman Wells
Post by MM
"The latest data suggests the first official estimate of growth in the
second quarter -- due on Wednesday -- will show a modest pickup from
the 0.2% recorded in the first three months of 2017
Growth is UP!
Post by MM
but will not match
the robust expansion recorded in the first six months after the Brexit
vote."
No reason why it should.
Post by MM
"The public finances were £2bn deeper in the red in June than in the
same month of 2016 -- with half the rise due to the higher debt
interest on government borrowing caused by higher inflation.
"The former Bank of England policy maker, Andrew Sentance, said he
expected the second quarter growth figures to show the economy was
expanding at a annual rate of just 1% in the first six months of the
year.
So, growth is UP again!
Post by MM
" 'It is not hard to explain why the momentum of consumer spending has
stalled so badly,' said Sentance, now a senior economic adviser at
PricewaterhouseCoopers. 'Real wages are now falling, even though
inflation fell back to 2.6% in June.
And inflation is DOWN!
One month.
Yes, well, MM likes one month's figures taken in isolation. His
attention span is very short, and one swallow makes his summer.
Post by R. Mark Clayton
Otherwise it has risen steadily since last June and will almost certainly continue to do so as the effect of the fallen pound work through.
Not according to this:

https://tradingeconomics.com/united-kingdom/forecast
Post by R. Mark Clayton
Post by Norman Wells
Post by MM
The main reason for the fall in
inflation was the drop in the oil price, but it is still reasonable to
expect inflation to rise above 3% later this year as the weakness of
sterling continues to feed through to the prices paid by consumers.' "
https://www.theguardian.com/politics/2017/jul/24/brexit-economy-sterling-fall-hits-public-finances-and-fails-to-boost-trade
Oh dear, Norman! Interest rates might rise above 3%! What on earth
shall we do? Buy gold?
Bit late now. You [and I!] should have bought it when that numpty Gordon Brown sold off half the UK reserves at around $200 per oz.
The market decides what something is worth, and any market is made up of
a roughly equal number of buyers and sellers. It's the necessity of
keeping that balance that sets the market price.

If you buy or sell and tradable commodity, you may make a profit, you
may make a loss. It's a risk you have to take. And it's only 20/20
hindsight that says whether you were right or wrong. Afterwards, when
it's easy.
R. Mark Clayton
2017-07-25 10:15:39 UTC
Permalink
SNIP
Post by Norman Wells
Post by R. Mark Clayton
Pretty crap for the other 65 million or so paying inflated prices for imported goods.
Then buy British! Or don't buy at all. It's your choice.
Yes some of the 65 million will have to go without - not my choice - your preference.
Post by Norman Wells
Post by R. Mark Clayton
Post by Norman Wells
Post by MM
was offsetting a slowdown in consumer
spending caused by dearer imports.
And spending on imports is DOWN!
No UP actually https://www.ons.gov.uk/economy/nationalaccounts/balanceofpayments/bulletins/uktrade/may2017
see graph figure 1 if you don't under stand numbers to the extent that you can't tell up from down.
Post by Norman Wells
Post by MM
"The latest data suggests the first official estimate of growth in the
second quarter -- due on Wednesday -- will show a modest pickup from
the 0.2% recorded in the first three months of 2017
Growth is UP!
Post by MM
but will not match
the robust expansion recorded in the first six months after the Brexit
vote."
No reason why it should.
but Brexit is supposed to make the economy thrive isn't it?

SNIP
Post by Norman Wells
Post by R. Mark Clayton
Post by Norman Wells
And inflation is DOWN!
One month.
Yes, well, MM likes one month's figures taken in isolation. His
attention span is very short, and one swallow makes his summer.
Post by R. Mark Clayton
Otherwise it has risen steadily since last June and will almost certainly continue to do so as the effect of the fallen pound work through.
https://tradingeconomics.com/united-kingdom/forecast
No according to me, not the crackpots on that site.
Post by Norman Wells
Post by R. Mark Clayton
Post by Norman Wells
Post by MM
The main reason for the fall in
inflation was the drop in the oil price, but it is still reasonable to
expect inflation to rise above 3% later this year as the weakness of
sterling continues to feed through to the prices paid by consumers.' "
https://www.theguardian.com/politics/2017/jul/24/brexit-economy-sterling-fall-hits-public-finances-and-fails-to-boost-trade
Oh dear, Norman! Interest rates might rise above 3%! What on earth
shall we do? Buy gold?
Bit late now. You [and I!] should have bought it when that numpty Gordon Brown sold off half the UK reserves at around $200 per oz.
The market decides what something is worth, and any market is made up of
a roughly equal number of buyers and sellers. It's the necessity of
keeping that balance that sets the market price.
If you buy or sell and tradable commodity, you may make a profit, you
may make a loss. It's a risk you have to take. And it's only 20/20
hindsight that says whether you were right or wrong. Afterwards, when
it's easy.
I thought it was folly to sell it at that price and to dump so much on the market at once (depressing the price due to higher supply).

Unfortunately I was not in a position to purchase much gold at the time :-(
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