Brexit, British Pounds and Inflation

@garymarsh6 I see a problem around social security soon. A Brit will have no problem in France, as we offer free social security to any resident. But I am not sure that I would stay in UK if I was French. Whatever the way EU will treat UK, you will lose some GDP points. Nobody has interest to see your money plunged into deep waters : the European Central Bank and the Bank of Japan are ready to support the pound if it continues to fall.

@topffer Up to now any EU citizen are entitled to social security benefits in another EU state if you have been working here and are resident here. What we do not like is that if you come to this country and have made absolutely no contribution then you should not be entitled to any benefit which is what a lot of people have done. This is one of the changes that the UK were seeking prior to the referendum.

There is a lot of misinformation going on and still scaremongering. No one knows what is going to happen. Hopefully things will settle down in a while. The £ and $ always fluctuates during an election and although the £ has dropped significantly it is very likely to return again and be strong against the Euro as it has always been, Britain will not throw out the workers of course it very much depends on how the EU treats the UK we have had enough threats from Juncker, Hollande and Herr Merkel.

The EU helps countries needing really to be helped, i.e. countries from Eastern and Central Europe : countries having a good economy are supposed to support others to help them to reach our standards. UK was complaining about its contribution to EU, but countries like France and Germany are contributing even more, and will have to pay the part that was paying UK because the European project, which is great, has not changed with UK leaving... Not to tell that the rest of Europe has received more than 1 million of migrants from Middle East, while UK was accepting to receive a few thousands. If UK obtains the same status than Norway, which would be the best for them, all they will save on their contribution to EU is 0.03% of GDP, while losing 1.5% of GDP.

@marguicha for one thing, the trade agreements apply to all the countries in the EU. That means once China signs a free trade agreement with EU, it can import and export goods without paying tariff. That is one main benefit of having the EU.

@topffer I think UK will lose more than 1.5% of GDP. If UK cannot negotiate free trade with other countries, you can expect a lot of jobs to exit UK and move to EU. I think the poorer countries in EU will like to see the jobs come in!

A lot of companies are probably planning to leave UK now. No point they keep the operation in UK when they cannot access EU market. Once Scotland declares independence, the situation will get even worse. The banks will move to Scotland, and factories will probably move to countries in EU.

@arthurchappell If Brexit forces an exodus of the rich people, and the big companies, I wonder how the situation in UK will be! Just hope that ISIS does not come to cause more problems.

@scheng1 we have achieved a state of social anarchy many militants could only dream of and it was capitalists doing it to themselves

Inflation does grow in the US. The saving grace is the low oil cost. If not for the low oil cost, you will hear more complaints about the rising cost of living. You can search through all the threads, and you can see that everyone is complaining about the price of goods. The official inflation rate is a lie. All the forum discussions are reality.

@LadyDuck The gas price in US has fallen a lot because US has oil. Even then, people there are complaining about the price of goods. Even if the manufacturers does not increase price, they will put in less in the packet.

@scheng1 I know that the official inflation rate is a lie. All the goods are rising here in Europe and the price of oil has not decreased even if the real cost of crude oil is so much less expensive than one year ago.

The economy is stable because many rich people park their money there, and many companies set up their base there. Now that UK is out from EU, a big question is: whether the rich people will move their money out or the companies will move their operations out. Ford has announced job cuts because of Brexit. If there is trade tariff, it does not make sense for factories to retain their operations in UK.

This shows that the majority are fools!

@JohnRoberts It is not just my belief. All the world rulers advise against this move, including Obama and Xi Jinping, yet they are moving out of EU. It is not a wise move for UK at this time, and now that Scotland may want independence because it wants to stay in EU, it is even more of a foolish move.

@scheng1 Why? How would you like it if you were called a fool or are only your beliefs acceptable and everyone else must fall in line with them or face your hate?

@scheng1 I have yet to hear their thoughts about this matter.

@salonga Wait till the locals turn against them! The anti-immigrants sentiment is very high now.

I think your friends and relatives will want to move out after a year or two, when they see the full effects of Brexit. If Scotland gains independence, that is good. At least the Scots value the great market offered by the EU.

It will not. UK will lose a lot of jobs, and a lot of investments.

@scheng1 we can't that yet, everything has its purpose.