How many more threads are you going to start on the pain of Brexit before even Christmas sets in?

Perhaps you were given a special Brexit Advent calendar and each day you discover a new thread. I could say I would be glad when Christmas comes and advent is over but then I have just had an alarming thought, maybe you will be given a 2017 Brexit calendar so we no doubt can look forward to another 365, thank goodness it's not a leap year.

That really depends on how much painful news there is, doesn't it?

You and the other Brexiters seem to be very worried there'll be lots.

The GBP dropped because it was overvalued, years of a large and increasing trade deficit.

The Brexit vote acted as a trigger event due to fear of loss of business investment due to uncertainty and fear of loss of exports in the future due to lack of a deal with the EU. GDP for 2017 and 2018 are both predicted to be far lower than predicted before the referendum result.

Brexit is short-term detrimental to the economy and arguably long-term detrimental.
A falling GBP is a natural reaction to that.
But, a lower currency is good for exports and economic growth.
Economies with free floating fiat currencies are at least in part self compensating.

Yes, the bad news keeps coming. Here's some.
ECB: Wealth inequality up since eurozone crisis
The European Central Bank has reported that wealth inequality across the eurozone has risen since the eurozone crisis began.
A new ECB survey has found that average net wealth across the euro area shrank by 10% between 2010 and 2014, to €223,300. This is primarily due to a sharp fall in house prices in many countries, as austerity gripped the euro area.

It appears that the ECB’s monetary policy pumps up the value of financial assets owned by richer Europeans, and there's nothing the ordinary people can do about it.

https://www.theguardian.com/business...-business-live

"Woe woe thrice is woe!!"

Er, I thought Brexiters wanted a fall in house prices.

Good for the UK but bad for the EU, eh?

This is about wealth inequality growing in the Eurozone. Shall I take it then then that you see this as good news?

It's verging on an obsession isn't it

Also no mention that Sterling isn't the only currency struggling against the Dollar right now. Just last week the Euro hit a 14-year low against the dollar but strangely there's little mention of that because it doesn't play into the narrative of the Brexit armageddon. Sure, there's no denying that the Brexit vote has impacted on the pound but to pretend it's the only factor in play is disingenious.

Where do you get the impression that I am a Brexiteer? Only my family and close friends know how I voted and to be honest before, during and after the referendum I took a neutral view. I have family and friends that were affected fairly and adversely with being part of the EU and preferred to debate or rather discuss the elements that affected them. For example I have a neice who has lived in Spain for nearly ten years and married a Spaniard just over three years ago but she is still classed as a UK citizen and I was surprised to find out even though she is married to a Spaniard has been teaching in Spain for 9 years she may have to seek Spanish citizenship now that Britain will levae the UK. I have a nephew that lives here who married someone from Bulgaria and she is constantly worried about their future. I have a brother who works in the fishing industry and he and most of his fishing communties have been adversely affected by being part of the EU but one of my sons will be badly affected by Britain leaving the EU.

The EU referendum was a difficult decision for many including me but moving forward I have accepted that Britain will leave but I am prepared to wait and see exactly what is put before the country and see if I agree or disagree with the outcome. I will however contest the most extreme views that are held on both sides but I am really tired of the constant scaremongering. We have no facts, we have nothing but speculation and most importantly we have very little examination or knowledge of what members of the EU will do when it comes to the crunch over trade deals, immigration, freedom of movement, security and a whole host of other factors which will have just as much a destabilising effect on the EU as it would the UK.

Sterling is the only currency really struggling.

The 10 year low was reached a few weeks ago at $1.21 which is pretty much where we are today ($1.22). This is against a value of $1.45 for the last 10 years (in fact it never went below that in the last ten years and at times was hovering around the $2 mark)

The Euro reached its 10 year low at $1.04 over the last few weeks but that is far from anywhere near as bad as Sterling. The €/$ rate has been hovering around $1.14 for the best part of two years and even before then it fluctuated between anywhere between $1.14 and $1.45 for the last ten years whereas the Pound was rock solid above $1.45 as I said above.

Now turning to the £/€ rate - which is where the Sterling weakness really becomes apparent - we are currently at €1.17 which is higher than the €1.10 where we were a few weeks ago but that is still well below anything we've seen since 2013 and more importantly very close to what we saw during the financial crisis and obviously very far off the €1.40 we had for most of 2015 and up until June this year.

You and the other Brexiters wouldn't acknowledge it if every expert witness in the world testified to it. So your reaction is just a big yawn!

Another factor is what Trump will do after he becomes President. If as what seems plausible that Trump implements a similar plan to Reagan then money will be pumped into large infrastructure projects and interest rates will begin to rise making the dollar much stronger even than it is now. Of course this will see Sterling drop and many will continue to blame Brexit despite other reasons. Unfortunately speculation will abound in 2017 so no doubt many will be posting doom laden scenarios and others countering them with equally optimistic ones.

No one has ever said that there could not be other reasons, but only a fool would refuse to acknowledge that the sharp and drastic fall in sterling has any connection to Brexit.

The referendum was just that, gloom and doom v optimism.

But in your guts you must know that he's right and that you have made a terrible mistake.

Yup Mr Strut, right again, Maxatoria should have posted 'were doomed, doomed I tell yer' with a Scottish accent..


Soon be March

Still hysterical I see , you know we are leaving don't you?

A 14-year low according to the Telegraph. So would you say Sterling is performing badly against a weak Dollar or a strong Dollar?

The pound has fallen against both since the result of the referendum.

I do acknowledge that Brexit resulted in a large drop in sterling but has remained stable since howwever many economists are already reporting that US interests rates will rise through 2017 which will result in a stronger dollar not only against Sterling but other currencies. My point is that many will highlight the reason as Brexit.

The Dollar is performing strong there is no question. Sterling however is performing far worse than the Euro. This is obvious by looking at the history and the sheer amount of its drop in value against both, the Dollar and the Euro.

Notwithstanding the Euro is under immense pressure from internal issues as well due to the fact that the EU is losing one of its biggest members.

Nonetheless, Sterling is performing worst out of the three currencies.

I won't unless Sterling drops further on the A50 trigger date and/or when a deal, or parts of a deal are made public.

Anything in other is, now, down to other factors.

Suffice to say that immense damage has been done already. 90% of our trade is conducted in $.

If the only reason is house prices falls then it's not particularly bad news.

Your unwillingness to have another Brexit contradiction exposed is noted.

Only because there's so much bad news. And we haven't even invoked article 50 yet, yet alone left.

The Duck test...

The denial, for example. Almost all of the bad news posted is based on facts.