Good news re Brexit!!

[Poppy]

A major new economic report has concluded that Project Fear was wrong and that not only has Britain recovered from an initial blip but is set to improve and overtake the french economy by 2020. Just what some of us have been predicting all along!
Full article in the telegraph but also in various other papers today( sorry cannot post link as on my kindle)

[Dominic]

But Brexit hasn't happened yet?!?

[Poppy]

Oh Dominic not worthy of you! Good news and Brexit has'nt happened,bad news and all down to Brexit. Why cannot you just admit that it is very promising news?

[chatsworth]

One good 'report' from a right wing newspaper vs many, many international forecasts of an economic decline over the coming years smacks of clutching at straws.

[Dominic]

But Brexit hasn't happened yet?!?

Nor has 2020

Poppy, this is my point. Predictions don't really count as good news. If in 2020, the UK is doing well (and I certainly hope it is) then that will be good news. But I think we can all agree that one thing nobody can actually do is predict the future.

It IS good news though, that the UK economy is performing better than expected, and, dammit, better than the French. But we will both be overtaken by the Indian economy, according to that article.

[Poppy]

Chatsworth it is an economic report by reputable economists and is in several papers not just the Telegraph - not clutching at straws at all!!
Dominic I take your point and have to say that it amazes me the part about how well India is doing and yet are they not one of the recipients of our foreign aid?

[Devil]

How much you should trust economists and their predictions:

http://www.crazywebsite.com/Website-Cli ... -01LRG.gif

[chatsworth]

Poppy, isn't this the same group of experts who recently stated that Brexit was already costing UK households around £500 per year and went on to state the economic future for the UK as a result of Brexit was 'gloomy'.
I don't believe I am an expert on anything but when I was trying to get a 'handle' on the impact of the UK leaving the EU I couldn't find anyone outside the UK who thought it was a spiffing idea. In fact I could only find a joint group of 8 economists who thought the economy would thrive but since the leader of that group thought the introduction of the minimum wage would result in 3 million unemployed I dismissed them as being a tad unreliable. I thought the Brexit supporters didn't want to hear anymore from 'so called experts'. Personally I couldn't care less about the impact of leaving the EU.
I didn't vote for or against it but I am confused as to where the optimism comes from because it seems to me there are no actual facts or forecasts to base it on.

[Poppy]

Yes Chatsworth there are facts!
1) London has increased it's lead as the Worlds leading financial
centre - Fact.
2)The anticipated reduction in consumer spending and investment has not happened - Fact.
I agree with you that economists are not always reliable but what I have quoted are not forecasts but actual facts.
That is where my optimism comes from and by the way I did bother to vote!!!

[chatsworth]

If I interpreted the recent figures from the National Office For Statistics correctly, consumrr spending rose by 0.1% for their last reporting period, which is the lowest for some time and is blamed on inflation and low wage increases but anyway we have not too long to wait to see what actually happens in the UK.
I didn't vote in the UK Referendum because I don't live there and probably never will.

[Jimgward]

Poppy. If this was indeed big news, it wouldn’t be a small article on page 4 if the Mail. It would be full-page page one.

It’s an opinion. Maybe an expert opinion, but still only 1 and many will say the opposite. I hopefully it’s true but all indicators at present land ave others saying more gloom than optimism.

The spending by consumers means nothing. Since wages lag inflation and have for 10 years how, consumers are spending what they don’t have, adding to debt. Bad news.