3 ms·

It is significantly worse the most pundits predicted.

coldtea 2y ago
Not tied to failing and increasingly irrelevant EU? What is significantly worse, is the governing clases continuing the same pre-Brexit policies and deals post-Brexit, to nullify it.
- redserk 2y ago
  The UK is becoming a destination country for hiring low-cost services labor. Not exactly an endorsement of future success.
  - grandempire 2y ago
    Low cost compared to what? California and New York? That’s also true of many states where finance and tech companies have smaller offices.
    - hn_throwaway_99 2y ago
      I live in Texas and contract for a company based in Europe. Comparable UK software engineering salaries are about 1/3-1/2 of what my salary expectations are.
grandempire 2y ago
I would do a quick google search of Brexit news articles with the year 2016.
- hermitcrab 2y ago
  I was living in the UK at a time. Nobody worth listening to was predicting war or famine.
  - grandempire 2y ago
    So you agree that there was a large amount of hyperbole which was intended to create fear but not constructed in good faith? that’s what I would conclude from “it exists but wasn’t taken seriously”
    - hermitcrab 2y ago
      No.
      - grandempire 2y ago
        I randomly sampled a few articles. And I think you’re right and I’m wrong. The economic messaging is aggressive and was wrong, but I’m not seeing famine and war. Here is an article that sampled various expert opinions: “ This event will unleash the kind of uncertainty that Keynes had in mind when he said “we simply do not know” when referring to the likely effect of war. Such uncertainty can only be disruptive for financial markets. We will enter a new era of volatility that is likely to last until these difficult negotiations are completed.” “it is more likely than not that we will witness political instability.” “ Such market reactions could sharply contract economic activity, further depressing asset prices in a self-reinforcing cycle” https://cepr.org/voxeu/columns/brexit-potential-financial-catastrophe-and-long-term-consequences-uk-financial-sector https://cepr.org/voxeu/columns/brexit-potential-financial-ca... So I agree, the more extreme must have been amplified voices from the fringe, on places like Reddit.
        hermitcrab 2y ago
        >“it is more likely than not that we will witness political instability.” We have had 5 Prime Ministers since 2019. Some of the problems we are seeing are due to the pandemic and the war in Ukraine. But Brexit is the biggest factor by far. And 100% self-inflicted. It is the elephant in the room that the politicians can't even talk about it, as it's electoral poison.

Not tied to failing and increasingly irrelevant EU? What is significantly worse, is the governing clases continuing the same pre-Brexit policies and deals post-Brexit, to nullify it.

redserk 2y ago
The UK is becoming a destination country for hiring low-cost services labor. Not exactly an endorsement of future success.
- grandempire 2y ago
  Low cost compared to what? California and New York? That’s also true of many states where finance and tech companies have smaller offices.
  - hn_throwaway_99 2y ago
    I live in Texas and contract for a company based in Europe. Comparable UK software engineering salaries are about 1/3-1/2 of what my salary expectations are.

grandempire 2y ago

I would do a quick google search of Brexit news articles with the year 2016.

hermitcrab 2y ago
I was living in the UK at a time. Nobody worth listening to was predicting war or famine.
- grandempire 2y ago
  So you agree that there was a large amount of hyperbole which was intended to create fear but not constructed in good faith? that’s what I would conclude from “it exists but wasn’t taken seriously”
  - hermitcrab 2y ago
    No.
    - grandempire 2y ago
      I randomly sampled a few articles. And I think you’re right and I’m wrong. The economic messaging is aggressive and was wrong, but I’m not seeing famine and war. Here is an article that sampled various expert opinions: “ This event will unleash the kind of uncertainty that Keynes had in mind when he said “we simply do not know” when referring to the likely effect of war. Such uncertainty can only be disruptive for financial markets. We will enter a new era of volatility that is likely to last until these difficult negotiations are completed.” “it is more likely than not that we will witness political instability.” “ Such market reactions could sharply contract economic activity, further depressing asset prices in a self-reinforcing cycle” https://cepr.org/voxeu/columns/brexit-potential-financial-catastrophe-and-long-term-consequences-uk-financial-sector https://cepr.org/voxeu/columns/brexit-potential-financial-ca... So I agree, the more extreme must have been amplified voices from the fringe, on places like Reddit.
      - hermitcrab 2y ago
        >“it is more likely than not that we will witness political instability.” We have had 5 Prime Ministers since 2019. Some of the problems we are seeing are due to the pandemic and the war in Ukraine. But Brexit is the biggest factor by far. And 100% self-inflicted. It is the elephant in the room that the politicians can't even talk about it, as it's electoral poison.