Re: Post-Brexit Thread
 

Having a bad day Michael ? ;) Cheer up, it could be worse, Trump could be running for PM - his next strategy I should think.

I think many Brexiters are blind to the oncoming economic crisis and are having to justify their decision, if only to themselves. The EU has faults, however the advantages of membership will become apparent to many over the next few years, too late of course.

Re: Post-Brexit Thread
 

I'm not blind to the probable economic problems we'll be having but they are worth it to be shot of the EU. Self determination as a country is more important than a temporary economic downturn.
There is more to life than money!

Re: Post-Brexit Thread
 

Me too. I can understand why people might well be wedded to a certain idea of what the EU could/should have been but Eurocrats are clearly not for turning...

Anyway the good news for those who're truly convinced that the UK is on the verge of becoming a third world country and the EU is so obviously the place to be, they still have time to pack up and head off over there. What's to lose after all? The way some folks are talking, I'm just surprised that there doesn't seem to have been a mass exodus already... ;)

Re: Post-Brexit Thread
 

But money can buy so many of those things! Such as donuts, beer and more donuts still. :shocked:

Re: Post-Brexit Thread
 

As with too many other times where there is a down turn there are leaches who sell short and hope for things to get worse. I've worked in companies that hit a hard patch and these low life come out boasting about how well they will do when the company collapses and they have to buy their short sold stock for a pittance. No thought of people losing their jobs and livelihoods.

Seems same is applying here. There are those "betting" on a sterling collapse and almost ensuring it's self fulfilling. And the brokers win whatever happens.

And in this country we have doughnuts.

Re: Post-Brexit Thread
 

For now.....:erm:

Incidentally the markets work the other way too. If sterling is too low then you'll make a ton buying it before it corrects itself. This isn't short selling but a lack of faith, justified or not, in the currency which is either temporary or not.

Re: Post-Brexit Thread
 

I have no problem in people "betting" on things doing well. Buying shares or whatever because you want them to appreciate. That's doing what it was intended to do, providing capital to allow something to be developed/marketed/grow and getting rewarded for it with dividends and increased value to holdings. I object to the opposite.

Re: Post-Brexit Thread
 

By the way that court case on Article 50 isn't look as good for the government as expected. Losing it seems to be a real possibility at the moment.

Re: Post-Brexit Thread
 

Don't get your hopes up too quickly - Government will still find a way to execute Article 50 regardless of that stupid Court case.

Re: Post-Brexit Thread
 

Article 50 will still be executed either way. The politics of it make it impossible for MPs to block it without massive consequences. It's just interesting if it's the Government or Parliament that has the authority to issue it.

Re: Post-Brexit Thread
 

It isn't betting on Sterling being weak that's dragged it down. There is capital flight, investors see the UK as a materially worse place to put their money, and Sterling seems to be losing its status as a world reserve currency. This is largely at least due to the Brexit vote and the position adopted by the government.

https://www.cableforum.co.uk/images/local/2016/10/7.jpg

Can you blame someone who invested in UK debt via US Dollars for pulling their money with this kind of performance?

https://www.cableforum.co.uk/images/local/2016/10/8.jpg

Without that status we're left on our own in the big wide world, we can no longer depend on the 'kindness of strangers' to finance our deficits.

Regarding today's inflation report, we are certainly due an inflation spike due to Brexit but if it's influenced this month's results it's the very early stages.

Finance houses are increasingly activating contingency plans. What effects these will have on jobs and taxes in the UK is unclear.

All may end well but for now and for the foreseeable the UK's economic position is materially worse as a result of the vote. That's a simple statement of fact. Some people were prepared for this and accept it as the price to pay for getting what they consider sovereignty back, the majority of the country however have no interest in becoming poorer due to this. 48.1% of them didn't want it anyway, another couple of % have now changed their minds, and of those that still would vote leave at least a quarter did so thinking it wouldn't affect them financially, and were wrong. Those who are not of pensionable age and on welfare, a group that voted heavily leave, will see the welfare freeze impact them more this year and even more next as it won't come close to keeping up with inflation, as will those on in-work welfare, another group that voted overwhelmingly to leave.

https://www.cableforum.co.uk/images/local/2016/10/9.jpg

Re: Post-Brexit Thread
 

Easy to say when you've got lots of it, not quite so easy for those already struggling still it's what we voted for and perhaps that was what was meant by taking back control of the decision making, the peasants can decide whether to eat or heat their homes

Re: Post-Brexit Thread
 

Might be some good news, at least for those on the flight paths. Looks like further airport expansion after an additional runway for Heathrow or Gatwick might not be necessary after all.



---------- Post added at 20:59 ---------- Previous post was at 20:56 ----------

The above is just another of the impacts from a complete exit of everything EU.

I have no idea why the EU would be in any way bothered by that course of events; Schipol, CDG, Frankfurt and others would be quite happy to take the fees from transit travellers.

Re: Post-Brexit Thread
 

The airport decision being delayed again is pathetic. It really gets down to the actual problems this country has which is the constant inertia when it comes to any infrastructure development. Nuclear power plants take decades, railways decades, runways decades. Most of the time spent with successive governments delaying the decision as long as possible and then more so. They keep wanting to build more homes but never do. They could just allow local authorities to build and sell affording housing but as so ideologically opposed they would rather sit on their hands for years trying to find a way to build houses without looking like the state is involved.

Whole thing is a mess.

Generations before us wondered if their government would get a man on the moon in their lifetime, we get the 3rd runway instead.

Re: Post-Brexit Thread
 

You're not wrong Damien it's a joke.