Brexit - Post Match Reaction

[Whitey Grandad]

3 Years Later:

 

Wage growth in the UK reached an 11-year high in the year to June, and the employment rate was its joint highest since 1971, official figures show. Wage growth rose to 3.9%, while the estimated 76.1% employment rate was the best since comparative records began:

 

 

Meanwhile, in Germany:

 

So wages have still not reached the level of ten years ago and what has Germany got to do with us?

 

I don’t know what you thought these figures demonstrated nor what you were trying to prove.

[Guided Missile]

So wages have still not reached the level of ten years ago and what has Germany got to do with us?

 

I don’t know what you thought these figures demonstrated nor what you were trying to prove.

Your post was made in 2016, Private Frazer and you, like everyone else, swallowed Project Fear hook, line and sinker....

[Unbelievable Jeff]

Your post was made in 2016, Private Frazer and you, like everyone else, swallowed Project Fear hook, line and sinker....

 

Your credibility was very low to start with, but after this latest escapade you're finally down to Wes levels, and that is embarrassing.

 

Sucks to be you, bro.

[Guided Missile]

I don’t know where to start with this except to say continue to plumb new depths in brain-addling thickness.

 

Productivity is only an important indicator if you’re a manufacturing-based economy like Germany. That’s a new one. Perhaps you should lecture the BoE, HM Treasury, the great and the good of academia why their single-minded obsession with it is misplaced.

 

:lol:

 

As for the rest of your post about trade wars and recessions it’s incomprehensible.

Mate, you have just confirmed you know squat. Of course productivity is a more important factor as a measure of the economy of a manufacturing based economy than a service based economy, unless you can share exactly how you accurately measure productivity in the service sector.

As far as the Treasury and the BoE, upon whose alters you worship, remind me of their forecasts of the employment data following a vote to leave the EU. You were obviously groomed during your economics degree to believe it's a science, but since pre-2008, the Treasury and BoE forecasts have been defined by being consistently wrong.

Now back on ignore for you. I gave you a chance but you obviously have $h!t for brains....

 

“Economists exist to make the weathermen look good”

 

[CB Fry]

Mate, you have just confirmed you know squat. Of course productivity is a more important factor as a measure of the economy of a manufacturing based economy than a service based economy, unless you can share exactly how you accurately measure productivity in the service sector.

As far as the Treasury and the BoE, upon whose alters you worship, remind me of their forecasts of the employment data following a vote to leave the EU. You were obviously groomed during your economics degree to believe it's a science, but since pre-2008, the Treasury and BoE forecasts have been defined by being consistently wrong.

Now back on ignore for you. I gave you a chance but you obviously have $h!t for brains....

 

“Economists exist to make the weathermen look good”

 

Productivity of face palms has gone through the effing roof on this forum.

[badgerx16]

Remember this gem from November ?

I am a moron,

 

I know it's selective quoting, but still......

[Guided Missile]

Treasury forecast prior to referendum in 2016:

A vote to leave would result in a recession, a spike in inflation and a rise in unemployment. The analysis shows that the economy would fall into recession with four quarters of negative growth. After two years, GDP would be around 3.6% lower in the shock scenario compared with a vote to remain. In this scenario, the analysis shows that the fall in the value of the pound would be around 12%, and unemployment would increase by around 500,000, with all regions experiencing a rise in the number of people out of work. The exchange-rate-driven increase in the price of imports would lead to a material increase in prices, with the CPI inflation rate higher by 2.3 percentage points after a year.

[Unbelievable Jeff]

Mate, you have just confirmed you know squat. Of course productivity is a more important factor as a measure of the economy of a manufacturing based economy than a service based economy, unless you can share exactly how you accurately measure productivity in the service sector.

As far as the Treasury and the BoE, upon whose alters you worship, remind me of their forecasts of the employment data following a vote to leave the EU. You were obviously groomed during your economics degree to believe it's a science, but since pre-2008, the Treasury and BoE forecasts have been defined by being consistently wrong.

Now back on ignore for you. I gave you a chance but you obviously have $h!t for brains....

 

“Economists exist to make the weathermen look good”

 

 

You don't know what productivity is, clearly.

 

Here's some help:

 

https://www.investopedia.com/terms/p/productivity.asp

 

And here's a book for you:

 

https://www.worldofbooks.com/en-gb/books/peter-antonioni/economics-for-dummies/GOR004366934?keyword=&gclid=Cj0KCQjw4s7qBRCzARIsAImcAxY-K5nckSVJZmJ9V8Vclui8XJ8sEoWMdpy7qHpUdTzyp3WD80vyK10aAh4JEALw_wcB

[Guided Missile]

OECD Germany - Economic forecast summary in 2016:

Economic growth is projected to remain solid, as a robust labour market and low oil prices underpin private consumption, while low interest rates and the housing needs of refugees boost residential investment. Business investment will strengthen somewhat, as capacity utilisation and employment rise. Demand for German exports in emerging market economies and euro area countries are expected to recover gradually.

[Unbelievable Jeff]

OECD Germany - Economic forecast summary in 2016:

 

And what of that does the above graph not show - it continued to do well for a couple of years until 2018.

 

What's your point?

[Guided Missile]

He confuses ‘productivity’ with ‘production’.

True, they are both long words and sticking with them to the end requires extreme concentration;)

By dividing the German and UK economy into different sectors, there are certainly more problems for productivity measurement in the service sector than the manufacturing sector because it is more difficult to define what productivity is in the service sector compared to the manufacturing sector. For this reason, the measurement of productivity in more important in defining the manufacturing based German economy than the service based UK economy. To different people, productivity means different things, which is expressed in the different or even conflicting definitions and perceptions of productivity. Productivity measurement in service is difficult because it is hard to standardise the inputs and outputs which are highly heterogeneous

[Guided Missile]

Businessmen realise that economists do not dispense any reliable information about things to come and that all that they provide is interpretation of statistical data referring to the past. For capitalists and entrepreneurs, economists’ opinions about the future count only as questionable conjectures. . . . business forecasting fails in the vain attempts to make the uncertainty of the future disappear and to deprive entrepreneurship of its inherently speculative character. In the end, what will make Britain great again is the entrepreneurs to be free to speculate and generate wealth, leaving the politicians and economists to continue to stare in the rear view mirror.

Edited 14 August, 2019 by Guided Missile

[Unbelievable Jeff]

By dividing the German and UK economy into different sectors, there are certainly more problems for productivity measurement in the service sector than the manufacturing sector because it is more difficult to define what productivity is in the service sector compared to the manufacturing sector. For this reason, the measurement of productivity in more important in defining the manufacturing based German economy than the service based UK economy. To different people, productivity means different things, which is expressed in the different or even conflicting definitions and perceptions of productivity. Productivity measurement in service is difficult because it is hard to standardise the inputs and outputs which are highly heterogeneous

 

Productivity = GDP / Man Hours

 

Makes no difference what industry you're in, you absolute plum.

 

In all your little graphs, articles etc, productivity is defined as the above. Just because you've got a different, **** definition, doesn't mean that every(any)one else uses it.

[shurlock]

Mate, you have just confirmed you know squat. Of course productivity is a more important factor as a measure of the economy of a manufacturing based economy than a service based economy, unless you can share exactly how you accurately measure productivity in the service sector.

As far as the Treasury and the BoE, upon whose alters you worship, remind me of their forecasts of the employment data following a vote to leave the EU. You were obviously groomed during your economics degree to believe it's a science, but since pre-2008, the Treasury and BoE forecasts have been defined by being consistently wrong.

Now back on ignore for you. I gave you a chance but you obviously have $h!t for brains....

 

“Economists exist to make the weathermen look good”

 

 

Labour productivity the most widely used and internationally accepted measure of productivity – output per hour worked?

 

Output might be measured in terms of sales or revenues (the value of goods and services produced), GVA (the value of goods and services produced minus the cost of inputs that are used up in production) or GDP (the sum of all the gross value added by all producers in the economy).

 

In other words, you can calculate output for any good or service that is bought and sold on the market (using current prices or deflated to a common year’s real value). The situation is different for government activities since there are no sales/prices to calculate output. But for businesses operating in private sector, things are relatively straightforward. Lest I’ve lost you, you do realise that service businesses sell stuff – for example I sell my consultancy wares to who’ll ever buy them. That’s no different from you flogging your EU-banned insecticide.

 

This isn’t to say that prices are always perfect as an output measure - for example price variation may embody differences in market power across firms rather than product or service quality differences in which case productivity will say less about how efficient a firm is and more about the state of market in which it operates. But that applies equally to service and manufacturing firms.

 

As for hours work, that should be self-explanatory – they’re all the hours you should be working instead of getting utterly destroyed on here

 

More detailed approaches will break this down further - for example by taking into account differences in workers’ educational attainment, skills and experience but the approach is same for manufacturing as it is for services.

Edited 15 August, 2019 by shurlock

[shurlock]

And who mentioned forecasting which is imprecise at the best of times? We're discussing measurement issues which economists are much more comfortable with.

[whelk]

Lovely people these Brexiteers.

 

[rallyboy]

He's just an ordinary guy on the street sticking it to the elite.

And he seems to be having fantasies about teenage girls dying.

 

A thoroughly unpleasant waste of bones and flesh.

[OldNick]

He's just an ordinary guy on the street sticking it to the elite.

And he seems to be having fantasies about teenage girls dying.

 

A thoroughly unpleasant waste of bones and flesh.

I agree totally...but it is going to get on our nerves listening to a 16 year old girl preaching to the world for the next 60 years. I saw some studies somewhere that the sun was in a cooling stage and we should be more concerned about a cooling period, apparently in the next 40 years we may well have another mini ice age. I tell you one thing we will be delighted to have fossil fuel to heat our homes up then

[shurlock]

I agree totally...but it is going to get on our nerves listening to a 16 year old girl preaching to the world for the next 60 years. I saw some studies somewhere that the sun was in a cooling stage and we should be more concerned about a cooling period, apparently in the next 40 years we may well have another mini ice age. I tell you one thing we will be delighted to have fossil fuel to heat our homes up then

 

I find her nauseating.

 

So I switch off the TV and radio, save some electricity and know I'm doing my bit for the planet.

Edited 15 August, 2019 by shurlock

[badgerx16]

......but it is going to get on our nerves listening to a 16 year old girl preaching to the world for the next 60 years.

How will you celebrate your 119th birthday ?

[badgerx16]

I find her nauseating.

 

I wonder how much of her activism is being orchestrated by her father.

[rallyboy]

She could indeed turn into the dullest woman ever, banging on about seals and stuff.

 

Whereas Banks has already demonstrated what he is.

Rather than the guy who has set himself up to make a fortune from shafting the poor, a scenario he is doing everything to create, thinly-disguised as some empire drivel, I'll put up with the foreign woman in the sandals woven from her own hair, hassling me about straws, thanks.

[Whitey Grandad]

Your post was made in 2016, Private Frazer and you, like everyone else, swallowed Project Fear hook, line and sinker....

 

And three years later our economy is sh1t. If you think we’re doing ok then you don’t realise what we could have had.

 

Cut out the childish, snidish comments and instead start looking at the world around you. That world is much bigger than a tiny corner of Hampshire.

[Whitey Grandad]

By dividing the German and UK economy into different sectors, there are certainly more problems for productivity measurement in the service sector than the manufacturing sector because it is more difficult to define what productivity is in the service sector compared to the manufacturing sector. For this reason, the measurement of productivity in more important in defining the manufacturing based German economy than the service based UK economy. To different people, productivity means different things, which is expressed in the different or even conflicting definitions and perceptions of productivity. Productivity measurement in service is difficult because it is hard to standardise the inputs and outputs which are highly heterogeneous

No.

[buctootim]

I agree totally...but it is going to get on our nerves listening to a 16 year old girl preaching to the world for the next 60 years. I saw some studies somewhere that the sun was in a cooling stage and we should be more concerned about a cooling period, apparently in the next 40 years we may well have another mini ice age. I tell you one thing we will be delighted to have fossil fuel to heat our homes up then

 

That’s not new Nick. Most climate scientists accept that we would be in a cool period or even starting a mini ice age by now if it weren’t for carbon emissions. The fact that the world is warming even as it should be cooling is more alarming not less

[aintforever]

I agree totally...but it is going to get on our nerves listening to a 16 year old girl preaching to the world for the next 60 years. I saw some studies somewhere that the sun was in a cooling stage and we should be more concerned about a cooling period, apparently in the next 40 years we may well have another mini ice age. I tell you one thing we will be delighted to have fossil fuel to heat our homes up then

 

Sounds like you're just irritated that a 16 year old girl has a better grasp of climate science than you do.

[Weston Super Saint]

That’s not new Nick. Most climate scientists accept that we would be in a cool period or even starting a mini ice age by now if it weren’t for carbon emissions. The fact that the world is warming even as it should be cooling is more alarming not less

 

You'd have to doubt the abilities of 'most climate scientists' who accept we could be starting a 'mini ice age' when we've been in an 'actual, full blown' ice age for the past two and a half million years!

[Whitey Grandad]

You'd have to doubt the abilities of 'most climate scientists' who accept we could be starting a 'mini ice age' when we've been in an 'actual, full blown' ice age for the past two and a half million years!

 

Er...

 

The Laurentide Ice Sheet that covered Canada and a large part of North America retreated not much more than 10,000 years ago. We are at present in an interglacial period.

 

https://energyeducation.ca/encyclopedia/Glacial_and_interglacial_periods

[Weston Super Saint]

Er...

 

The Laurentide Ice Sheet that covered Canada and a large part of North America retreated not much more than 10,000 years ago. We are at present in an interglacial period.

 

https://energyeducation.ca/encyclopedia/Glacial_and_interglacial_periods

 

3 and out for me, so argue amongst yourselves

 

https://en.wikipedia.org/wiki/Quaternary_glaciation

 

The Quaternary glaciation, also known as the Pleistocene glaciation, is an alternating series of glacial and interglacial periods during the Quaternary period that began 2.58 Ma (million years ago), and is ongoing.[1][2][3] Although geologists describe the entire time period as an "ice age", in popular culture the term "ice age" is usually associated with just the most recent glacial period.[4] Since earth still has ice sheets, geologists consider the Quaternary glaciation to be ongoing, with earth now experiencing an interglacial period.

 

I'm happy to side with the 'Geologists' rather than 'popular culture'

[Plastic]

Er...

We are at present in an interglacial period.

 

Dont mean to be a d1ck, but an interglacial is phase within an ice age. An ice age is generally defined as having ice at both poles (which we may not soon).

Haven't read the rest, whats this got to do with Brexit?

[Whitey Grandad]

Dont mean to be a d1ck, but an interglacial is phase within an ice age. An ice age is generally defined as having ice at both poles (which we may not soon).

Haven't read the rest, whats this got to do with Brexit?

 

Isn't that all a bit semantic? All I'm concerned about is whether or not my house gets wiped out by a mile-high glacier sometime soon.

 

Brexit or not we can be sure that if there is an ice age soon the Remainers will blame it on Brexit and the Leavers will blame it on the EU.

[OldNick]

How will you celebrate your 119th birthday ?

Party with a 18 year old lady to finish me off

[OldNick]

That’s not new Nick. Most climate scientists accept that we would be in a cool period or even starting a mini ice age by now if it weren’t for carbon emissions. The fact that the world is warming even as it should be cooling is more alarming not less

No doubt but carbon emissions are not responsible for the sun cooling period.

[OldNick]

Sounds like you're just irritated that a 16 year old girl has a better grasp of climate science than you do.

Perhaps unlike you she may be able to explain the Medieval warming period and the mini ice age, we were spewing out carbon emissions in our cars then I assume.

I dont doubt we are responsible for some of the climate change but I would suggest nature/universe cycles has far more to do with it

[Plastic]

Isn't that all a bit semantic? All I'm concerned about is whether or not my house gets wiped out by a mile-high glacier sometime soon.

 

Brexit or not we can be sure that if there is an ice age soon the Remainers will blame it on Brexit and the Leavers will blame it on the EU.

 

Quite right, apologies for my pedantry!

[Golactico]

I'm no Tory by any stretch, but ousting Johnson with a no confidence vote and a Ken Clarke led temporary Government is the best idea I've heard throughout this mess for a long while.

[Unbelievable Jeff]

I'm no Tory by any stretch, but ousting Johnson with a no confidence vote and a Ken Clarke led temporary Government is the best idea I've heard throughout this mess for a long while.

 

Absolutely, Ken Clarke would do a sterling job.

[Whitey Grandad]

Perhaps unlike you she may be able to explain the Medieval warming period and the mini ice age, we were spewing out carbon emissions in our cars then I assume.

I dont doubt we are responsible for some of the climate change but I would suggest nature/universe cycles has far more to do with it

Maunder Minimum and Dalton Minimum. Both periods were a prolonged absence of sunspots. The number of Indian Ocean cyclones correlates strongly with the number of sunspots.

 

Have a look for Jasper Kirkby and what he says about sunspots and the price of corn (Benjamin Franklyn?)

 

But we are wandering away from Brexit...

[Whitey Grandad]

Absolutely, Ken Clarke would do a sterling job.

 

 

Indeed, and he would do a job for Sterling too!

[aintforever]

Perhaps unlike you she may be able to explain the Medieval warming period and the mini ice age, we were spewing out carbon emissions in our cars then I assume.

I dont doubt we are responsible for some of the climate change but I would suggest nature/universe cycles has far more to do with it

 

You've just proved my point - your opinion is just based on ignorance of the science. I'm not surprised Greta Thunberg gets up your nose, no one likes to be shown up by a 16 year old girl.

[Whitey Grandad]

You've just proved my point - your opinion is just based on ignorance of the science. I'm not surprised Greta Thunberg gets up your nose, no one likes to be shown up by a 16 year old girl.

 

The science is incomplete.

[Guided Missile]

A great story here from a familiar face.

 

A triumphant Brexit can spell the end of the EU by showing Europe how to save itself

 

A legend....!!!

[Whitey Grandad]

A great story here from a familiar face.

 

 

 

A legend....!!!

 

There will not be a 'triumphant Brexit'

 

 

 

and you've spelt bellend wrong.

[rallyboy]

Is Rupert still living in Kent?

I'm sure that's what people shout at him every time he opens his mouth.

[shurlock]

A great story here from a familiar face.

 

 

 

A legend....!!!

 

Pal the less time you spend reading garbage like the DT (echo chamber, confirmation bias central), the more productive you’ll be.

[badgerx16]

Rupert Lowe, living proof that people will vote for a donkey if it is wearing the rosette with their chosen colour.

[Tamesaint]

The man who employed Nick Leason shows his impeccable judgement again !!

[OldNick]

, no one likes to be shown up by a 16 year old girl.

No you haven’t shown me up. You certainly are as hysterical. As for scientists they are not always right, in the 1970’s I questioned a professor at Southampton University that there may be more elements, he scoffed at my idea and said all that could be possibly be there had been found. Since then more than one has been discovered. So I don’t always agree that they know it all.

[OldNick]

I hear from quite a few brexiteers that once we leave the EU it will collapse. I don’t know where they get that from!!!!

[scotty]

Party with a 18 year old lady to finish me off

 

Finish you off in what sense?

 

:D