It's official, the UK grew almost twice as fast as the Eurozone

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wew

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>>66806174
>comparing the growth of a single nation to the combined average of half of Europe, including economies growing both faster and slower than the UK
>the UK was never even a part of the Eurozone to begin with

Your currency is complete shit now and don't tell me that a weak currency is good for the average consumer.

>>66806298
This.
A weak currency is only benefitial for export bussinesses.
But of course, then you'd have to manufacture something in the first place.

>>66806298
>>66806377
A weak currency is necessary to close our current account deficit. It had to happen Brexit or no Brexit.

>>66806298
>loses job

Ha . Joke's on you ,losing my job is actually beneficial for my motivation .

>>66806298
>UK growth the year of black wednesday 0.45%
>UK growth the year after black wednesday 2.63%#

Numerous papers such as Dornbusch and Werner site devaluation in the real exchange rate as good for the economy, going as far as stating that effects on inflation are negligible due to substitutions in the economy.

>>66806174
>after the Brexit vote
>no Brexit just jet

>>66806528
>actually arguing with eurocucks on the internet about the EU
what exactly are you hoping to achieve m8?

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>>66806528
> that effects on inflation are negligible due to substitutions in the economy.

>Macbook going up by 300 pounds is actually good for us !

Do you actually believe that ?

>>66806174
The brexit has yet to happen mate.

And it's up to you guys to decide if it will end up well or not.

>>66806528
Yeah it's without a doubt good for international companies and the general economy. You are very likely just an average person that has to pay more for imported goods and not the CEO of a big company.

>>66806649
>peer reviewed paper argues that devaluation has beneficial effects on the economy
>b-but le Macbooks!!! 300 pounds!!!

>french grasp of economic theory.
maybe this is why your unemployment is more than double the UK. or why your economy grew at a rate less than half of the UK's.

>>66806611
Shut the fuck dumb poo peeland kiwi. You're just mad nobody is discussing the local sheep economy with you.

>>66806691
it won't happen.

They're stalling so they can have another general election, and put someone in power who'll just negate the whole thing.

>>66806528
>surely no inflation and loss of living standards will occur when the currency of an economy largely reliant on imports loses its value

>basing your economic predictions on three months of data

>>66806784
Our unemployment is double than yours because we don't think 0 hour contracts and self-employement statut are acceptable in a society striving for social equality

In short we'd rather have unemployed people than enslaved ones

>>66806691
>And it's up to you guys to decide if it will end up well or not.

Why just us? Ohhh you mean the EU will say comply with the 4 freedoms completely if you want anything at all, and we say 'yes' or 'no'

It's funny how countries like France and Germany are allowed to violate the 4 freedoms, like not allowing eastern europeans to have free movement to their countries for years and not blocking trade freedom in ~60% of services forever. But we're supposed to pretend they're sacrosanct or something. Top kek my friend.

>>66806782
Maybe we're average people who care about the general economy and our country? Maybe the long term prosperity of the UK is more important than the Macbook costing £300 more?

>>66806874
Literally who though? Corbyn is unelectable, all the other parties are too small and the tories don't want to piss off their base

>>66806888
>and not blocking trade freedom
blocking trade freedom*

>>66806921
it honestly doesn't matter.

There's plenty of tories who didn't want it.

>>66806174
>its the butthurt british graph poster again

>>66806887
If not for 0 hour contracts, young people would never get employed
That and the different minimum wage is the only way the youth can compete in the job market

>>66806876
how am i basing my predictions on 3 months worth of data? i'm citing a paper, and comparing growth the last time the UK devalued in a major way. you seem to be confused

>>66806887
rate of 0 hours contracts is around 2.5% of employment. assuming even half aren't kids on part time jobs, or mothers earning money whilst wanting to spend time with her kid. that's just over 1% :^)

>social equality
moving money from the efficient parts of society to the inefficient, ah yes. the old let's just distribute our dwindling wealth instead of creating it theory.

>>66806784
>french grasp of economic theory

You're the one that's retarded m8 . You devaluation in currency makes your growth irrelevant since even with that growth , what you produce is worth less than the previous year on the global market.

>>66807134
>worth less than the previous year on the global market
jesus fucking christ, that's the whole point you dumb gypsy.

>>66807134
>You devaluation in currency makes your growth irrelevant since even with that growth , what you produce is worth less than the previous year on the global market.

Strange way of saying "what you produce is more competitive on the global market" and that's exactly what we need, seeing as we have a fuckhuge trade deficit

>>66806874
Are you sure about that stalling May said you are going to have Brexit before March or something.

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>>66807195
Quarterly growth you retard. Annualised it looks like this.

>>66807226
She's going to invoke article 50 then. According to EU rules that means brexit happens 2 years later

>>66807182
That's not what you need. Your hopes are that your lower currency will boost your export, ok. Maybe that will happen, hopefully for you.

But you do realize that having your pound losing value is going to hurt you especially since you import so much goods ?

Your devaluation have a potential gain but also certain downside.

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>>66806649
Why are French youth so lazy tho?

>>66807158
>>66807182
Are you fucking pakis literally retarded?

If you export more but for less the value than the previous year you don't fucking fix the trade deficit.

Leaving the EU market will also mean a fall in exports which overtakes you "growth due to devaluation" especially since almost half of your fucking exports go to the eu

Exports is not a solo variable. Devaluation in currency means less money for companies, many of which depend on abroad sales , which means cuts including jobs ,which means more money given to welfare .It also fucks up savings ,make people abroad less likely to have savings in your currency devaluating it more , makes your companies less powerful compared to foreign companies,etc etc

You're not fucking russia or china , you don't have the size to depend on low-level exports. Your strong currency is the backbone of your trade-economy.

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>>66807249
Eurozone to compare

>>66807417
I know imports will become more expensive. Everyone knows that devaluations and strengthening currencies have gains and downsides.

The question is what's more important for the UK? Closing the trade deficit and re-balancing the economy, or cheaper Macbooks for the consumer while hurting the UK economy long-term?

I'm ok with higher inflation if it's good for the country. I don't know why you can't get your head around that. With any luck there will be some import substitution and companies will find it cheaper to buy from new domestic businesses rather than import goods and services.

>>66806174
The Brexit vote? You mean Brexit didn't happen yet? It's like 4 months already. Didn't you guys wanted to separate?

>>66807526
Holy shit it's like talking to a brick wall. Shall I just leave you with the opinion of the former Governor of the Bank of England, who welcomes the fall in Sterling?

https://www.theguardian.com/business/2016/oct/10/fall-in-sterling-is-a-welcome-change-says-mervyn-king-brexit-vote

Or, here's an idea, see if you can work out why countries around the world are trying to devalue their currencies

>>66807592
It will take years to separate

>>66807628
Well I thought when you vote to separate, you all wanted to separate as fast as you can. My wrong then.

>>66807628
>https://www.theguardian.com/business/2016/oct/10/fall-in-sterling-is-a-welcome-change-says-mervyn-king-brexit-vote

The article in a nutshell
>we think that a lower currency might make people want to export more

That's literally saying : "If i take his allowance away, maybe it'll force him to get a job"

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>>66807669
We've been in the EU for over 30 years. Most people care about getting the best deal we can than leaving asap.

>>66807690
No, it isn't like saying that. Let's say we stayed in the EU and kept the pound strong. What would you do about pic related? Do you think it doesn't matter?

>>66807750
If you trade more quantitatively at lower prices you don't actually change anything...

On top of that your country depends on foreign partners to produce export goods.You as a country cannot export raw material besides oil and expect to have the same standards of living. You depend on international cooperation.

>What would you do about pic related?
Would i be focused on that alone,

Subsidize branches of the economy that deal specifically in exports and/or lower their taxes ,while making trade agreements with countries i don't export enough to for lower taxation.

>>66806874
The only party that would even humor such a thing is the Lib Dems, and if they got into power it would be the most obvious election fraud in history.

Yet it grew less than projected at the start of the year.
I suppose you folk will kling to little non-victories like this and your "manufacturing boom".
It's really sad to look at from the outside.

>>66808021
>If you trade more quantitatively at lower prices you don't actually change anything...
Yes you do. You grow businesses in the real economy. If the economy then keeps growing then the currency will strengthen (if monetary policy doesn't distort things), and you have nominal growth.

>On top of that your country depends on foreign partners to produce export goods.
The extent of this cooperation is a legacy of the strong pound

>Subsidize branches of the economy that deal specifically in exports and/or lower their taxes
Not allowed under EU rules

>while making trade agreements with countries i don't export enough to for lower taxation.
Not allowed under EU rules

>>66808091
>Yet it grew less than projected at the start of the year.

0.5% for Q3 is exactly in line with the forecasts that assumed no Brexit

>>66808164
>Yes you do
No you don't. Ukraine is a prime example of that with a gdp of 85 bill$ but a ppp gdp of 350bill$. The difference between what and how much they produce and what that's actually worth (compared with other countries) is huge. I'm obviously not comparing the situations , i'm just giving an extreme example to exemplify my argument.

>The extent of this cooperation is a legacy of the strong pound
The extent of this cooperaton depends on trade deals with foreign countries.

>Not allowed under EU rules
Pff , I don't fucking know the eu rules , i don't even like the eu, it keeps allowing uneducated peasants without a high school finished to get better paying jobs abroad than i have here with a college degree. I'm just sick of hearing people spew memes about how devaluation is a good thing.

I hope Europe is destroyed.

Then China can buy all the technology and businesses dirt cheap. Then the continent can be turned into a giant museum while all the shitskins and niggers can be gassed in poland to be used as fertilizer for chinese pork production.

>>66808845
Before Brexit the UK's nominal GDP value was considerably higher than its PPP GDP value. With the devaluation I'm not sure it will fall far below the PPP value, if anything the difference will be smaller than before, which indicates if anything a more healthy economy, wouldn't you agree? What I'm trying to say is that UK assets were artificially OVER VALUED and that's not necessarily a good thing, in fact it's quite obviously a bad thing.

>>66806174
>Not even 1% growth
Wtf Euros?

>>66810348
USA always reports annualised growth. Europe reports quarterly.

The 0.5% quarterly growth for the UK = 2.3% annualised right now. See >>66807249