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  • Counting Brexit costs: construction output drops at fastest pace since 2009

    From forex.com

    It has now been just over a week since the EU referendum resulted in a shock exit outcome which caused the pound and stock markets to plunge. While UK and global equities have since roared back, due, in part, to “bargain hunting,” surging commodity prices and the promise of more stimulus from central banks, question marks remain over the ability of the markets to sustain their gains. Meanwhile, the pound has remained near its post-Brexit lows. Investors clearly now expect the Bank of England to either cut interest rates further and/or expand QE in an attempt to counteract the potential near-term negative ... (full story)

Full-throttle self inflicted meltdown in progress
Copper dumping at the moment.
Invest in alarm clocks
Phew! Im really glad the scaremongering allegations of all the Remain experts are proving so wrong? (SIC) LoL

No wonder Boris and Farage have done a runner..
Too may questions to answer.
Too many lies to apologise for.
To many scams to explain.
Biggest con in recent democratic history .. and the sh*t hasnt even begun to hit the fan yet.
Not that I want to get in the way of British Brexit narcissism, but a 5% drop in construction STOCKS over a week isn't indicative of anything but portfolio adjustments. Lower interest rates and expanding QE supports higher construction rates. The negative implication (not mentioned) is deflating immigration which means lower pressure on housing costs. But then the Bremainders would have a hard time openly wringing their hands over that one. Just think of all the landlords and property flippers who can't keep jacking up their prices on immigration pressures and you'll understand why some Bremainders whine so much.
Quoting kenleander
Not that I want to get in the way of British Brexit narcissism, but a 5% drop in construction STOCKS over a week isn't indicative of anything but portfolio adjustments. Lower interest rates and expanding QE supports higher construction rates. The negative implication (not mentioned) is deflating immigration which means lower pressure on housing costs. But then the Bremainders would have a hard time openly wringing their hands over that one. Just think of all the landlords and property flippers who can't keep jacking up their prices on immigration...
Fair comment.
However I couldnt help taking the opportunity for a rant.. LoL
Cheers mate..
It has been dropping steadily since October last year.

Lets not pretend that the drop was entirely to do with a Brexit vote.

And lets not forget that Osborne has been trying to reign in house prices with new legislation around buy to let.
Quoting cliffedwards
Fair comment.
However I couldnt help taking the opportunity for a rant.. LoL
Cheers mate..
Not so fast, Cliff. This is the first time it has gone in to negative territory (<50 ) for 3 years.

Just a portfolio adjustment "kenleander" ? If you say so.
Gone to a better place
Quoting verv
It has been dropping steadily since October last year.

Lets not pretend that the drop was entirely to do with a Brexit vote.

And lets not forget that Osborne has been trying to reign in house prices with new legislation around buy to let.
WoW! Thats fine then.. I stupidly thought it had something to do with BREXIT.
What a relief.
  •  Guest
  • | IP XX.XXX.78.101
Nothing to do with the new stamp duty increase then ???

Imagine if construction continued to invest albeit at a slightly lower rate. And perhaps people continued to buy, lets say at a slightly lower rate and....

This nonsense is simply self fulfilling prophecy of the doom and gloom fraternity, which in a few years will pass and everything will be back on track in the U.K.

Continental Europe ??? not so sure
  •  Guest
  • | IP XX.XXX.222.138
nothing to worry about, no London property Ponzi, definitely not. no ways.

http://www.bloomberg.com/news/articles/2016-07-04/standard-life-suspends-3-6-billion-property-fund-after-brexit
Quoting cliffedwards
WoW! Thats fine then.. I stupidly thought it had something to do with BREXIT.
What a relief.
Don't worry, I'm sure you have ample excuses for your stupidity
Quoting Guest
Nothing to do with the new stamp duty increase then ???

Imagine if construction continued to invest albeit at a slightly lower rate. And perhaps people continued to buy, lets say at a slightly lower rate and....

This nonsense is simply self fulfilling prophecy of the doom and gloom fraternity, which in a few years will pass and everything will be back on track in the U.K.

Continental Europe ??? not so sure
No.

It is entirely to do with the Brexit, utterly and completely, 100%....didn't you get the memo?

The 2013 drop in construction pmi, Brexit, insiders knew ahead of time.

Osborne changing his fiscal rules, Brexit.

World peace? You guessed it, derailed by Brexit.
Quoting verv
Don't worry, I'm sure you have ample excuses for your stupidity
Do I understand that you are calling me stupid?
Quoting cliffedwards
Do I understand that you are calling me stupid?
I didn't say that.
Good. Thank you for clarification.
Quoting cliffedwards
Good. Thank you for clarification.
No problem.

I would look up what your 'inkblot' response says about you.
  •  Guest
  • | IP XXX.XXX.28.198
Data compiled pre brexit..........
Quoting cliffedwards
Phew! Im really glad the scaremongering allegations of all the Remain experts are proving so wrong? (SIC) LoL

No wonder Boris and Farage have done a runner..
Too may questions to answer.
Too many lies to apologise for.
To many scams to explain.
Biggest con in recent democratic history .. and the sh*t hasnt even begun to hit the fan yet.

Yep, funny how Boris and Farage decided to run away. They are having regrets
Quoting bob2bob
Yep, funny how Boris and Farage decided to run away. They are having regrets
Have you given it a thought that they may have been " Advised" to step down?
Quoting Sniper2000
Have you given it a thought that they may have been " Advised" to step down?

The UK does approx 130-150 billion pounds of trade with the EU. That was under a free trade agreement. Now imagine what happens when the EU slaps a 10% tariff on everything coming from the UK. The EU will reap 10-15 billion pounds a year from the UK, so in our out of the EU they will still pay the same amount.

With the pound dropping like a lead weight they will pay on anything they import. Remember they are an island in a northern climate, they have to import a lot of food/goods.

Boris and Farage sobered up and ran for the hills
people is most of the time wrong, thats why there is a elite which have to control citizens against their basic wrong wills.
Hittler, Marx and every negative leader was elected by the masses in free elections.
Quoting bob2bob
The UK does approx 130-150 billion pounds of trade with the EU. That was under a free trade agreement. Now imagine what happens when the EU slaps a 10% tariff on everything coming from the UK. The EU will reap 10-15 billion pounds a year from the UK, so in our out of the EU they will still pay the same amount.

With the pound dropping like a lead weight they will pay on anything they import. Remember they are an island in a northern climate, they have to import a lot of food/goods.

Boris and Farage sobered up and ran for the hills
EU exports more to UK than the reverse, so I think that Britain would be on the better foot. Also instead of Britain, Germany and France supporting the other members of the EU who cant support themselves . It will then be left to Germany and France and I don't think they can do it by themselves. JFK tried to stand up against the elite and look where it got him!!
Quoting acidguy
people is most of the time wrong, thats why there is a elite which have to control citizens against their basic wrong wills.
Hittler, Marx and every negative leader was elected by the masses in free elections.
Most of the time wrong? How many times are wrong? And how many right?

Well, when they are wrong, it will be very bad. Not the number, but the effect.

When it goes wrong, it will be very wrong. But who knows? Ppl are most of the time right. Just a small time wrong. But it went very wrong.
For those who say ppl make wrong choices. Let me say. Let's make machines that are most of the time right 99% of the time. So we don't need human anymore.

So what the hell is this referendum for? Just to prove the people, human, make wrong choices.

Then they should invent machines. Let machines do the jobs. Sounds good?
Quoting bob2bob
The UK does approx 130-150 billion pounds of trade with the EU. That was under a free trade agreement. Now imagine what happens when the EU slaps a 10% tariff on everything coming from the UK. The EU will reap 10-15 billion pounds a year from the UK, so in our out of the EU they will still pay the same amount.

With the pound dropping like a lead weight they will pay on anything they import. Remember they are an island in a northern climate, they have to import a lot of food/goods.

Boris and Farage sobered up and ran for the hills
....WHOA

The people who pay the tariffs are the importers.
The cost gets passed on to the consumer.
The exporter (UK) does not pay the tariff ... unless they have some agreement to do so with the importer.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
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  • Posted: Jul 4, 2016 10:07am
  • Submitted by:
     Newsstand
    Category: Technical Analysis
    Comments: 25  /  Views: 5,709