Brexit: “unimaginably large” City Bloodbath

[vetran]

Barclays are British and staying British. The reduced CT and Tories in power will keep HSBC here.

PG's probably suffered from blunt trauma to the head.

Without the banking and London being a financial capital of the world, we're screwed.

as always diversify so no one is your biggest customer / supplier.

Maybe they will learn that?

[LondonManc]

as always diversify so no one is your biggest customer / supplier.

Maybe they will learn that?

We've traditionally been a finance capital.

Strong unions put paid to our car industry in the 70s - we ended up with the Austin Metro while Germany churned out the VW Golf.

Only the luxury end came out alive in Aston and Bentley/Rolls Royce.

We've got innovative excellence in the sciences (a recent one being the graphene breakthrough in Manchester) but they're pushing our kids into meeja.

Until there's a step change to long-termism within government, with a strategy that cannot be unravelled by a rival government that comes in afterwards, we'll remain a nation of shopkeepers and market traders looking for the quick buck.

[BlasterBates]

If you look at successful countries outside the EU, you notice they have strong home grown industries, and their people have lots of savings invested in these home grown industries. Who is going to invest in British home grown industries when the UK has such high levels of private debt, particularly as the UK leaves the EU that the appetite for EU investors inevitably will diminish?

Bank of England says household debt binge hits pre-crisis levels | This is Money

What will make it even harder is the demographics of an ageing population, cashing in assets rather than investing.

[DimPrawn]

If you look at successful countries outside the EU, you notice they have strong home grown industries, and their people have lots of savings invested in these home grown industries. Who is going to invest in British home grown industries when the UK has such high levels of private debt, particularly as the UK leaves the EU that the appetite for EU investors inevitably will diminish?

Bank of England says household debt binge hits pre-crisis levels | This is Money

What will make it even harder is the demographics of an ageing population, cashing in assets rather than investing.

Wow, who would have thought household debt would sky-rocket, with 0% credit cards thrust in their faces with 40 month period, and mortgages at 1.6% and can borrow 5.5 times your income?

I never saw this coming...

[sasguru]

If you look at successful countries outside the EU, you notice they have strong home grown industries, and their people have lots of savings invested in these home grown industries. Who is going to invest in British home grown industries when the UK has such high levels of private debt, particularly as the UK leaves the EU that the appetite for EU investors inevitably will diminish?

Bank of England says household debt binge hits pre-crisis levels | This is Money

What will make it even harder is the demographics of an ageing population, cashing in assets rather than investing.

Indeed the cultural penchant of the English for debt is their downfall.
It's due to the infantilisation of English culture that happened in the 1960s.
I think an IMF bailout is a far more realistic prospect than a successful Brexit given the parlous state of the national finances.

[sasguru]

Wow, who would have thought household debt would sky-rocket, with 0% credit cards thrust in their faces with 40 month period, and mortgages at 1.6% and can borrow 5.5 times your income?

I never saw this coming...

We're all supposed to be adults, not kids.
If people are too infantile to make the right decisions fook them.

[PurpleGorilla]

We're all supposed to be adults, not kids.
If people are too infantile to make the right decisions fook them.

Yes, there is some truth to that. But there has been huge exploitation of the low paid by the rich, and especially rich BTL scum boomers. The proles hope for some justice through brexit. Here's hoping.

[sasguru]

The proles hope for some justice through brexit. Here's hoping.

The proles will get a smaller share of a smaller pie. Fook them for their stupidity.

[PurpleGorilla]

Brexit: “unimaginably large” City Bloodbath

The proles will get a smaller share of a smaller pie. Fook them for their stupidity.

They don't have any pie at the moment. No house, no secure jobs, no prospects.

If they have a chance to see some pie taken away from SQ7 drivers, Why wouldn't they vote for that?

[LondonManc]

They don't have any pie at the moment. No house, no secure jobs, no prospects.

If they have a chance to see some pie taken away from SQ7 drivers, Why wouldn't they vote for that?

Nothing will be changed without revolution. All they're doing at the moment is choosing what colour tie their slave masters wear.