Mofo Politics
Mofo Politics

Bwahahaha: UK economy so fucked post-Brexit   August 12, 2017

You may recall that MFP promoted Nigel Farage and Brexit HERE, HERE, and HERE for low-information clicks.

MFP plans to return to the xenophobic clickbait model later this year– but for now, LOL at these retards…

The Wonders of Brexit

Consumer spending
UK consumer spending down:

British consumer spending fell for the third month in a row in July in its longest losing streak in over four years…Last week the Bank of England downgraded its forecast for economic growth this year and next, due partly to slower-than-expected wage rises, and it sees a weaker outlook for household spending

Real wages down:

Real wage growth has turned negative this year as average nominal pay increases have been outstripped by consumer-price inflation.

Inflation was 2.6 per cent in June, while pay has been growing at only around 2 per cent…Falling real wages are deemed to be one of the reasons overall GDP has slowed dramatically in 2017, as household consumption has been reined in.

British Pound forecasts down:

Lloyds Bank have announced they have downgraded their forecasts for the British Pound against the Dollar and Euro…The downgrade is the latest in a pattern of declining confidence in Sterling…it appears analysts are a little more bearish having made a substantial cut to their expectations for Sterling.

Home Prices
Home prices rising at weakest annual pace since 2013:

UK house prices are rising at their weakest annual pace since 2013 as the British public feels the squeeze on the wallets from a spike in inflation in the wake of the Brexit vote.

Evil Banks
Financial markets eye Amsterdam as post-Brexit base:

Amsterdam is emerging as one of the beneficiaries as banks and traders search for a new base to access the EU when Britain leaves the bloc in 2019.

Frankfurt took an early lead as an alternative to London, with many banks opting to site themselves close to the European Central Bank. But in the last two weeks there has been a rush of financial services companies turning to the Dutch city.

But here’s the best part: 6 out of 10 Leave voters would pay to retain EU citizenship…

58 per cent of people who voted to leave the EU are now willing to pay to keep their European citizenship.

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