News Britain just got its first concrete sign that Brexit will destroy the economy

Discussion in 'The Howard Stern Show' started by Anyonenow, Jul 24, 2016.

  1. Anyonenow

    Anyonenow Well-Known Member

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    Britain just got its first concrete sign that the British exit from the European Union, or Brexit, will crush the nation's economy after a grim set of PMI data released by Markit on Friday morning showed a "dramatic deterioration" in the economy since the UK voted to leave the EU.

    Markit's flash PMI readings for the UK's economy showed that composite output fell to its lowest level since March 2009, during the tail end of the global financial crisis.

    Here is the scoreboard:


    Services PMI — 47.4, down from 52.3 in June and at an 87-month low. The figure was well below the 49.2 forecast.


    Manufacturing PMI — 49.1, a 44-month low, and well below the expected 50 reading.


    Composite PMI — 47.7, a drop from 52.4 in June, and at an 87-month low.


    The PMI, or purchasing managers index, figures from Markit are given as a number between 0 and 100.

    Anything above 50 signals growth, while anything below means a contraction in activity — so the higher the better.

    The figures are a flash reading, meaning they could easily be revised upward or downward when final readings come in at the end of the month.

    Speaking about the data, Markit's chief economist, Chris Williamson, said (emphasis ours):

    "July saw a dramatic deterioration in the economy, with business activity slumping at the fastest rate since the height of the global financial crisis in early-2009.

    "The downturn, whether manifesting itself in order book cancellations, a lack of new orders or the postponement or halting of projects, was most commonly attributed in one way or another to 'Brexit.'"

    And here is Markit's terrifying chart, showing just how massive the contraction in post-Brexit Britain has been so far:
    [​IMG]

    http://www.independent.co.uk/news/u...brexit-will-destroy-the-economy-a7152306.html
     
  2. Quality Control

    Quality Control dove Gold

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  3. Murcielago

    Murcielago Smoke me a kipper, I'll be back for breakfast

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  4. Avery

    Avery Well-Known Member Banned User

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    The vote was in the end of June and you're blaming June numbers on it, even showing a graph where the trend has been down for years?

    Fucking idiot. :jj:
     
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  5. zhukov

    zhukov Time traveler Gold

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    OP can't read a graph, apparently.
     
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  6. Anyonenow

    Anyonenow Well-Known Member

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    :lol:
    A Huge fucking idiot for thinking OP wrote the piece :dickhead:

    Numbers are SINCE the Vote.
    Down Compared to June #'s
     
  7. Anyonenow

    Anyonenow Well-Known Member

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    Another moron that has no reading comprehension ability.
    #'s are down from June.
    They are July #'s
     
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  8. zhukov

    zhukov Time traveler Gold

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    :lol:

    Examine the trend, you dolt.
     
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  9. Willowglen

    Willowglen Lookin thru the glass ceiling & up Stephs skirt VIP

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    You have to be a special kind of RW assclown to be argue that another counties crashing economy isn't happening because it doesn't fit in with your internet message board argument supporting a dayglow orang losing candidate with a bad combover
     
  10. ELMACO510

    ELMACO510 Resident Asshole VIP

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    So geniuses like you have this all figured out within a month of their vote - based on trending... Help me understand, was the UK in the EU on '09? Oh, okay....
     
    Last edited: Jul 24, 2016
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  11. Avery

    Avery Well-Known Member Banned User

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    Trending...

    What happened to the stock market collapsing and pound imploding, chicken little?
     
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  12. Daveindiego

    Daveindiego Confirmed Internet Legend Gold

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    Have you bothered to read a newspaper in the past 36
    Hours? :rofl:
     
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  13. Daveindiego

    Daveindiego Confirmed Internet Legend Gold

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    Have you bothered to read a newspaper in the past 36 hours? :rofl:


    Dumb fucks, this is really happening. It actual news and everything.

    Britain is well on its way to 2nd class status.
     
  14. Daveindiego

    Daveindiego Confirmed Internet Legend Gold

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    One of the funniest things is when the ignorant proudly proclaim their stupidity when shit is really falling down around them. :rofl:
     
  15. Avery

    Avery Well-Known Member Banned User

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    Remember when you thought Britain used the euro? That was so funny. :jj:
     
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  16. Daveindiego

    Daveindiego Confirmed Internet Legend Gold

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    No, no I don't, since I have known my entire life that Britain remained on the Pound.
     
  17. Hatfield

    Hatfield Well-Known Member VIP

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    THIS ^

    I can't believe in just 30 days the UK has been ruined. Maybe that's the reason Britain bailed. Amazing how the same logic does not apply to Obama/Bush. Fucking Cucks...
     
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  18. gwartney

    gwartney Unafilliated Gold

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    Lots of words in the OP.
     
  19. larryluncg

    larryluncg Empty VIP Gold

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    Britain doesn't need the EU to survive. Trust me
     
  20. Daveindiego

    Daveindiego Confirmed Internet Legend Gold

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    Sure don't, they are well on their way to 2nd class status.