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British pound falls further in Asian trading on Monday


webfact

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They were right.

Treasury analysis of the immediate impact of BrexitShock scenarioSevere shock scenario

GDP-3.6%-6%

CPI inflation+2.3 percentage points+2.7 percentage points

Unemployment rate+1.6 percentage points+2.4 percentage points

Unemployment level+520,000+820,000

Average real wages-2.8%-4.0%

House prices-10%-18%

Sterling exchange rate index-12%-15%

Public sector net borrowing (Fiscal year 2017-18)+£24bn+£39bn

http://www.bbc.com/news/uk-politics-eu-referendum-36355564

Don't you think it's a bit early to conclude this? The pound has dropped about 10% but drop in house prices? Rise in unemployment?

Scaremongering comes to mind

Recessions are good. Recessions are the periods I get to go home to Thailand, watch cartoons with my three wonderful nippers and put my feet up.

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Ratings agency Standard and Poor's has stripped the UK of its top AAA credit rating after the vote to leave the European Union.
"In our opinion, this outcome is a seminal event, and will lead to a less predictable, stable, and effective policy framework in the UK," a statement from the agency read.

http://news.sky.com/story/1718386/uk-stripped-of-top-credit-rating-after-brexit

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Ratings agency Standard and Poor's has stripped the UK of its top AAA credit rating after the vote to leave the European Union.
"In our opinion, this outcome is a seminal event, and will lead to a less predictable, stable, and effective policy framework in the UK," a statement from the agency read.

http://news.sky.com/story/1718386/uk-stripped-of-top-credit-rating-after-brexit

Oly, if it finally gets shot of the casino economy and crashes house prices. More the merrier.

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Guess the Brits will be joining the Russians

Drinking their cheap beer at 7/11. 5555555

The Brits invented that.

Don't stop, ND. You're on a roll. biggrin.png

I've got a bit in me you know dad.....back half a dozen generations. You could call me a mongrel ;)

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