The consequence thread (Brexit)

[chalga]

This argument the remainers make about stability and certainty is a bit of a red Herring as potentially everything is up in the air every 5 years come general elections.

 

Why is it,I thought we we were ruled from Brussells?

[Guest]

Could you show us the figures to support this... where the pound nosedives at every election?

 

Already prove wrong with my reply above. Please read.

 

I'm just saying there's no such thing as long term stability and history shows it is possible for the markets to remain stable despite the fact the political landscape may change every 5 years.

[Cyclone]

so all/most of the leave voters are under educated well done cyclone :hihi:

 

Can you quote me making that claim? Or is this just a figment of your misreading of posts?

 

---------- Post added 08-07-2016 at 14:31 ----------

 

I'm just saying there's no such thing as long term stability and history shows it is possible for the markets to remain stable despite the fact the political landscape may change every 5 years.

 

A GE is nothing like the political change of leaving the EU. Obviously.

[Blackbeard]

Normally the FT is behind a "pay wall" but for some reason this one is free.

"To understand the situation the UK has got itself into, it helps to know that Brexit isn’t simply an anti-elitist revolt. Rather, it is an anti-elitist revolt led by an elite — a coup by one set of public schoolboys against another."

https://next.ft.com/content/f4dedd92-43c7-11e6-b22f-79eb4891c97d

[Berberis]

I'm just saying there's no such thing as long term stability and history shows it is possible for the markets to remain stable despite the fact the political landscape may change every 5 years.

 

If you have a GE every 5 years the market is somewhat prepared. No GE has ever torn up 40+ years of trade agreements overnight and this is why the markets shat themselves.

[ukdobby]

The pound has now become the worst performing currency in 2016.

[Guest]

The majority of remainers generally strike me as being a largely left wing or left of centre types, yet their arguments are based mainly around the consequences for big business, big banks, stock market traders etc. Very curious the collective left should particularly care about them.

 

Have their left wing progressive credentials been exposed as a sham?

[truman]

The majority of remainers generally strike me as being a largely left wing or left of centre types, yet their arguments are based mainly around the consequences for big business, big banks, stock market traders etc. Very curious the collective left should particularly care about them.

 

Have their left wing progressive credentials been exposed as a sham?

 

Sorry to burst your bubble but I don't think I've ever been referred to as a "Leftie" on here before..quite the opposite in most cases.. I reckon your theory is wrong... are you saying leavers are right wing? Another thing is if "BIG business" has a problem then in time we'll all have one..fewer jobs,lower wages,less tax into HM treasury..

Edited July 8, 2016 by truman

[tzijlstra]

The figures for the third quarter will show the initial result of the referendum. At the moment it is guess work from both sides. But the initial signs are not pretty in any way, shape or form. Leavers can argue that Remainers this that and the next thing, the simple fact is that key-economic indicators appear to be pointing towards a very strong decline in the British economy as a result.

 

The value of the pound is very significant. Since May 2015 (When the General Election was won by a Tory Prime Minister who promised a referendum) the GBP has been losing ground against the USD. That is a significant downward trend that has just been exacerbated enormously. (Note how deep the pound is in it now) There simply is no denying the fact that the referendum has triggered huge uncertainty about the UK economy - the GBP is a direct indicator of trust - it does well when the British economy does well.

 

It seems that few Leave debaters on here know what that actually means. Talk of a 5% tariff here and a 'short-term' blip there is all irrelevant when the Chancellor is confronted with having to balance the books and at the same time has to shore up the pound continuously. The BoE has already cut banks capital requirement rules - that might seem like it is nothing, what the BoE is effectively saying though is - please keep borrowing, please keep lending, it is the only thing keeping the Pound from going through the floor.

 

Note by the way Carney's explicit warning about levels of 'personal indebtedness' and house-values.

 

Now realise that by removing capital requirements banks effectively don't have to top-up the safeguards in place that were the result of the 2008 crash. Then add those things together to understand that if a bank goes down this time, it goes for real, the government can't help as it is already over-indebted.

 

This is a real concern, that is voiced not just by Carney and Osbourne, but echoed by the EU and the various bodies that are involved with finance within the EU.

 

---------- Post added 08-07-2016 at 16:16 ----------

 

The majority of remainers generally strike me as being a largely left wing or left of centre types, yet their arguments are based mainly around the consequences for big business, big banks, stock market traders etc. Very curious the collective left should particularly care about them.

 

Have their left wing progressive credentials been exposed as a sham?

 

What left wing credentials? Seriously, can you point me towards any post where I proclaim to be 'left'? By the way, the Financial Times is probably one of the most capitalist/neo-liberal newspapers in the world (outside of America) and they are reeling about Brexit, are you going to call them left? This isn't about left and right, this is about people who understand economics and people who don't.

Edited July 8, 2016 by tzijlstra

[Berberis]

The majority of remainers generally strike me as being a largely left wing or left of centre types, yet their arguments are based mainly around the consequences for big business, big banks, stock market traders etc. Very curious the collective left should particularly care about them.

 

Have their left wing progressive credentials been exposed as a sham?

 

Haha, so wrong. Im a paid up member of the Conservative party. Im one of the 0.3% who gets to decide who is our next PM.