Re: Recession is already here for a crucial part of the British economy — and it is only

It could possibly be because, like someone we know who advertised for 2 farm hands and got not even one application from a British/English person, some people really don´t want to work, or at the very least want to pick and choose their jobs. Some sectors, such as agricultural work, have always been low paid. Probably still are as far as I know.

Re: Recession is already here for a crucial part of the British economy — and it is only

I'm surprised to read the building sector is in recession, other than for the usual fears of a general slump due to the stagnant housing market.

It must vary about the country. It seems quite buoyant in my neck of the woods this year.
There's four 'build's' going on all within a 10 minutes walking distance from my home.
Three housing, two of which are on old pub sites that have closed and suffered demolition.
The largest project is a modest sized industrial site which is now cleared ready for plans to have 100+ houses, a couple of convenience stores, a petrol station and other whatnots (though that got delayed a but by some bats living in nearby woods).
I must live in a slummy area ripe for regeneration

Re: Recession is already here for a crucial part of the British economy — and it is only

Quite frankly I don't think anyone knows anything, some people saying one thing, some saying another, some only believing what they want to believe, but the only people who actually know anything are those "at the helm" so to speak. Like the following article, who really knows anything? You would really need to be a fly on the wall to know anything actually factual.

https://uk.finance.yahoo.com/news/br...185300014.html

It's only a matter of time before U.S. banks operating in the United Kingdom and European Union have some potential regulatory and staffing issues to sort through as a result of the U.K. Brexit vote in June.


But it may not be the issues that the pundits projected.

In the immediate wake of the Brexit referendum, reports surfaced projecting mass layoffs at U.S. banks' U.K. arms; Morgan Stanley issued a denial to a widely-circulated story alleging the bank would cut 2,000 jobs . But, according to one expert, bank staffers may have little — to nothing — to sweat.

"I'm not sure it's going to be layoffs; it's going to be shifts of employees," said John Stadtler, U.S. financial services industry group leader at PwC. "Post-Brexit, you will have more jobs in countries in the European Union and U.K. The question is, where those jobs will be."

So while U.K. bankers may not be wise to lay out a down payment on a mortgage quite yet, they also may still have brighter days ahead. It just could require moving to another country.




Another unanticipated ripple effect from Brexit is that U.S. banks could grow bigger, not smaller. They will need to expand their presence in the EU, and that could be done by buying a bank with all the necessary regulatory approvals in place. American firms have for years had their key European operations centered in London, but when the Brexit is complete, U.S. banks and insurers will have to head somewhere else. For some, that may mean acquisitions.


At a time when most large U.S. financial institutions are effectively restricted from growing much larger at home, thanks to post-crisis regulation, a July PwC report titled "Not just across the pond: How U.S. financial institutions prepare for Brexit," suggests that they may have to engage in M&A in order to meet their new requirements. Maintaining European Economic Area (EEA) passporting rights, or being allowed to continue EU operations, could require making a deal, the report said.

There's a potential upside coming to the U.S. economy, and potentially to U.S. banks, as a result of the Brexit.

Kim Betancourt, director of economics and multifamily market research with Fannie Mae, said that international investors looking to sidestep U.K. and EU volatility may aim to hedge against bets by investing in the United States. One business that Betancourt said may get a boost is the multi-family housing industry in the United States.

"Multi-family in the U.S. is a safe bet at this point," Betancourt said. "The home ownership rate has been falling."

Expanding multi-family projects would be a boon to real estate developers, but also potentially to banks, which would likely benefit from issuing more commercial backed mortgage securities to support increased building. A dearth of millennials buying homes has led to a rise in multi-family units, like apartments, being viewed as a more sound investment.

Just don't expect any big fallout, either way, anytime soon. The report suggested that no formal Brexit could come until the beginning of 2019, if even then. British Prime Minister Theresa May has stated that she wants to begin the process that would move the U.K. out of the EU early next year, but there is little that holds her, or the Brits, to an actual formal requirement.

"She has no timetable," Stadtler said.

Re: Recession is already here for a crucial part of the British economy — and it is only

Which is why they're in favour of importing cheap workers. Many bosses were remainiacs.

Re: Recession is already here for a crucial part of the British economy — and it is only

Of course, which is why I and others have suggested they should be far less willing to give handouts to those who refuse to do jobs offered.

I realise, of course, that Joe and others will now shower me with criticisms about what I have said, and explain to me the necessity of benefits for those who cannot work.

Re: Recession is already here for a crucial part of the British economy — and it is only

You really do not know much about life outside your little cosmos do you?

Re: Recession is already here for a crucial part of the British economy — and it is only

I must agree. I know very little, in fact nothing at all, about living off the state.

The nearest I got to that was when I was doing my degree (as a full time student) - no grant of course - and all I was offered was their very generous payment of my national insurance.

Perhaps you have more first hand experience in this area?

Re: Recession is already here for a crucial part of the British economy — and it is only

Much better educated than me then, I don't have a degree, that must make you feel superior to the likes of me.

Re: Recession is already here for a crucial part of the British economy — and it is only

Cant get a builder before 18 months around here they are building houses EVERYWHERE.

Re: Recession is already here for a crucial part of the British economy — and it is only

Ah hah ... I've just come in why so many of your posts are aggressive. You've no need to feel inferior Purwell I haven't any qualifications at all. It's no big deal.