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Extreme Brexit could be worse than financial crisis for UK: BoE


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41 minutes ago, Chartist said:

 

Unfortunately if those were the options we'd likely end up with May's deal as remoaners would prefer a deal that benefits their unelected overlords than one that benefits their country.

Codswallop

 

You really need to take some time to read up on how the EU works

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45 minutes ago, vinny41 said:

Likewise if the people that voted in the 1975 referendum had a crystal ball to look into the future as see all the things they were told would never happen because there was this safeguard or that safeguard I am sure the 1975 vote would be leave would have won by a landslide

Within the EU we grew to have the fifth best economy in the world and were instrumental in shaping the EU.  Of course we chose the bits that we didn't want to be involved with like Shenzhen and not adopting the Euro.

 

42 minutes ago, Chartist said:

 

Unfortunately if those were the options we'd likely end up with May's deal as remoaners would prefer a deal that benefits their unelected overlords than one that benefits their country.

I think you will find there are just as many remainers who will vote against May's deal as there are leavers.  The deal let's both sides down. 

 

But the consensus seems to be that May's deal is better than a no-deal and all the chaos that that would cause.  That is what she is relying on and we are all being screwed in the process.

 

I try not to proclaim what leavers are thinking or feeling as I have no idea,  just like leavers have no idea what remainers think or feel.  Might be worth considering that.

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26 minutes ago, sandyf said:

Quite.

When people go into a restaurant why do they look at a menu,after all they have already decided to eat.

 

In 2016 David Cameron asked the people if they wanted to eat, on the basis that they would have to accept what was on the plate. Obviously many thought it would be fish and chips but now see the dish of the day is tripe, any wonder they are asking for the specials board.

 

 

A good description.

 

 

I would still vote again for the mystery dish.

 

 

A blind tasting can often be rewarding.

 

 

 

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Private equity firm Bowmark Capital has just raised its largest ever fund of £600m in a mere 10 weeks to invest in UK mid-market companies. In the word of one of the managing partners:

 

“The success of the fund-raising demonstrates that the UK remains an attractive market for private equity, notwithstanding current Brexit uncertainties."

Edited by My Thai Life
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But bad news for the eurozone

 

Professor Otmar Issing, the founding chief economist of the European Central Bank and the chastened prophet of the euro project: “One day, the house of cards will collapse.”

 

And from the London School of Economics:

 

"The calamitous EMU saga has led to the “most serious economic crisis in the history of the European Union”. It has done “more lasting damage” to swaths of Europe than the Great Depression of the 1930s, and pitted eurozone states against each other in a bitter struggle for control over the levers of policy."

 

https://www.telegraph.co.uk/business/2019/01/02/euro-has-failed-threatens-democracy-should-abolished/

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9 minutes ago, My Thai Life said:

Private equity firm Bowmark Capital has just raised its largest ever fund of £600m in a mere 10 weeks to invest in UK mid-market companies. In the word of one of the managing partners:

 

“The success of the fund-raising demonstrates that the UK remains an attractive market for private equity, notwithstanding current Brexit uncertainties."

Generally it makes sense to be prepared to invest when the prices of companies, technologies and patents are dropping towards the bottom. Preparing to buy cheap stocks, which one day will hopefully rise back up again.

 

Naturally while some companies are going come up few years after brexit. Some won't. 

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1 hour ago, oilinki said:

Generally it makes sense to be prepared to invest when the prices of companies, technologies and patents are dropping towards the bottom. Preparing to buy cheap stocks, which one day will hopefully rise back up again.

Of course, everyone knows this, even non-investors.

 

But I think Forbes' recent assessment of the UK as the number 1 country for business provides a more complete and well reasoned explanation.

 

https://www.forbes.com/sites/kurtbadenhausen/2018/12/19/the-best-countries-for-business-2019-u-s-down-u-k-on-top/#149805f452d5

 

Also a few weeks ago I posted figures for recent inward investment for the major EU economies. I can't recall the exact figures offhand, but the UK was way ahead in the number 1 spot.

 

By the way, the FTSE midcap has less exposure to the EU than the FTSE 100. That's one reason why business execs from 200 medium size enterprises recently wrote to May advising her to take a WTO exit. I've posted this twice already in the last few weeks.

 

 

 

Edited by My Thai Life
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23 minutes ago, My Thai Life said:

Of course, everyone knows this, even non-investors.

 

But I think Forbes' recent assessment of the UK as the number 1 country for business provides a more complete and well reasoned explanation.

 

https://www.forbes.com/sites/kurtbadenhausen/2018/12/19/the-best-countries-for-business-2019-u-s-down-u-k-on-top/#149805f452d5

 

Also a few weeks ago I posted figures for recent inward investment for the major EU economies. I can't recall the exact figures offhand, but the UK was way ahead in the number 1 spot.

 

By the way, the FTSE midcap has less exposure to the EU than the FTSE 100. That's one reason why business execs from 200 medium size enterprises recently wrote to May advising her to take a WTO exit. I've posted this twice already in the last few weeks.

 

 

 

I don't see how that's possible given the huge regulatory burden that you claim the EU imposes on British business. And how do Sweden at Number 2 and the Netherlands at number 4 manage it?

 

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1 hour ago, bristolboy said:

I don't see how that's possible given the huge regulatory burden that you claim the EU imposes on British business. And how do Sweden at Number 2 and the Netherlands at number 4 manage it?

I don't claim a huge regulatory burden, it's a fact which is available to anyone who can use google. But I'll give you a general hint. A custom union is the most advanced kind of Trade Agreement yet devised by capitalism. I'll assume that the benefits are reasonably well known. But the disbenefits are not so well known: (1) a huge regulatory burden for member nations (how else can diverse national standards be harmonised) (2) a loss of sovereignty for member nations (3) the enforcement of external (3rd country) tariffs which (i) do not suit all members (ii) support inefficient practices (CAP) (Iii) destroy or seriously undermine some developing nations (I'm sure that you as a "progressive" wouldn't approve of that if you knew more about it) (4) the inability to sign independent FTAs. These disbenefits do not include the disbenefits that many people see in the Single Market, which is a separate topic that I won't go into in detail.

 

I don't understand what you're trying to say in your 2nd sentence. I have no business or personal experience of the Nordics (apart from a girlfriend or two), but I do know that Sweden's population is less than London's. As for the Netherlands, I have visited many times, even set up offices and businesses there. It's an extremely easy place to do business: the Dutch combine the creativity of the British with the process orientation of the Germans and the liberalism of London (my home town): the Netherlands is a truly great place in my experience.

 

 

 

 

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1 hour ago, My Thai Life said:

Except that A50 does not and cannot work like that.

 

Anyway, the withdrawal agreement is not an end deal, it's just an interim phase to a trade agreement with the EU. But May's WA is so stacked against UK interests that the WA will not be passed.

 

The end goal, as far as trade is concerned, is for the UK to be able to sign its own trade agreements. This is not possible if we are in a customs union. I'm sure you know this, but Jeremy Corbyn seems not to!

 

ahoy,

hold on a sec krap, you don't need no A50 in order to negotiate a withdrawal deal EU-UK

 

I am not comfortable with the way you approach this,

you are talking in capitals with absolutes

 

this is not mathematics with one correct answer

 

this is all about what the two parties agree on

 

there is nothing between heaven and earth that is not possible in a customs union

its a question of finding a common path

 

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1 hour ago, melvinmelvin said:

ahoy,

hold on a sec krap, you don't need no A50 in order to negotiate a withdrawal deal EU-UK

 

I am not comfortable with the way you approach this,

you are talking in capitals with absolutes

 

this is not mathematics with one correct answer

 

this is all about what the two parties agree on

 

there is nothing between heaven and earth that is not possible in a customs union

its a question of finding a common path

1. No A50 needed? Really? Ok. Actually I agree in principle. But we need to advise the EU bureaucrats and the HoC/L.

 

2. "Capitals with absolutes"? I have used bold to highlight a key point.

 

3. "Mathematics"? I agree. Economics is not a zero sum game. But try telling that to the Project Fear "forecasters". I seem to be the only person on TVF who has read the forecasts at source - certainly there is no evidence that anyone else has.

 

4. "this is all about what the two parties agree on". Really? I thought you'd been telling us for months that it's all about simply following EU rules for departure.

 

5. "there is nothing between heaven and earth that is not possible in a customs union". There are many things that are possible inside a CU. But the limitations on members of a CU are as I described. Where are you getting the info to support your assertion from? Can you name any other CUs?

 

You are one of the more articulate and polite "remainers", though I suppose that that term should really be reserved for people who are actually entitled to vote. Your posts have suggested that you have a long personal history with the EC. Would you mind if I asked you to elaborate?

 

By the way, your recent posts have suggested you reside in Yorkshire. Really? I lived in York for a couple of years a long while back. How's it going now?

 

Edited by My Thai Life
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2 hours ago, My Thai Life said:

I don't claim a huge regulatory burden, it's a fact which is available to anyone who can use google. But I'll give you a general hint. A custom union is the most advanced kind of Trade Agreement yet devised by capitalism. I'll assume that the benefits are reasonably well known. But the disbenefits are not so well known: (1) a huge regulatory burden for member nations (how else can diverse national standards be harmonised) (2) a loss of sovereignty for member nations (3) the enforcement of external (3rd country) tariffs which (i) do not suit all members (ii) support inefficient practices (CAP) (Iii) destroy or seriously undermine some developing nations (I'm sure that you as a "progressive" wouldn't approve of that if you knew more about it) (4) the inability to sign independent FTAs. These disbenefits do not include the disbenefits that many people see in the Single Market, which is a separate topic that I won't go into in detail.

 

I don't understand what you're trying to say in your 2nd sentence. I have no business or personal experience of the Nordics (apart from a girlfriend or two), but I do know that Sweden's population is less than London's. As for the Netherlands, I have visited many times, even set up offices and businesses there. It's an extremely easy place to do business: the Dutch combine the creativity of the British with the process orientation of the Germans and the liberalism of London (my home town): the Netherlands is a truly great place in my experience.

 

 

 

 

So on the one hand the UK is laboring under a huge regulatory burden because of the EU. On the other hand, despite that, it's #1 in competitivenss even beating countries like the US and Canada that don't suffer from that regulatory burden. No wonder you support Brexit. You must believe that without the regulatory apparatus of the EU the UK will be number 1 in the world by a huge margin. Sounds realistic. I mean, British businesses are basically far in advance of any other nation in the world apart from regulations. It's just a well kept secret.

 

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2 minutes ago, My Thai Life said:

I'll say this for the umpteenth time: I am not a Leaver or Remainer. I can see the benefits of both both positions. I am however a qualified economist who has worked in over 25 countries, a citizen of 2 EU countries, with Permanent Resident status in 2 further countries. I have a huge relevant international  business experience and a quaternary educationary to support it. 

 

The reasons that I tend to take the Leave position on this forum are that (1) Leave won the vote (2) the abuse and nastiness of many remain Remain posters here (3) so much of the Remain propaganda, paid for by UK tax-payers, is simply wrong - as was the BoE's and Treasury's pre-referendum "forecast" (4) the attempt to overthrow the democratic outcome of the UK referendum is absolutely appalling in my view - I can understand that a few crypto-fascist Neo-liberals would want to do this, but people who consider themselves to be "progressive" - no way. People who try to overthrow democratic process are not liberal or progressive.

 

 

Please, spare us the alleged curriculum vitae. Like all other posters here, your comments should be judged on the basis of their quality.

As for you not being a supporter of Leave...this is like those Americans who say I-don't-support-Trump-but...It's very clear you support leave. So spare us the pretense of impartiality.

If the Brexit referendum were to be reversed on the basis of a putsch you would have an excellent point. On the basis that Parliament ignored the referendum, you'd have a good one too. But since a 2nd referendum would be voted on the by mostly same electorate that voted on the first I just don't understand how that is undemocratic.

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1 hour ago, My Thai Life said:

?? 

 

1. No A50 needed? Really? Ok. Actually I agree in principle. But we need to advise the EU bureaucrats and the HoC/L.

 

2. "Capitals with absolutes"? I have used bold to highlight a key point.

 

3. "Mathematics"? I agree. Economics is not a zero sum game. But try telling that to the Project Fear "forecasters". I seem to be the only person on TVF who has read the forecasts at source - certainly there is no evidence that anyone else has.

 

4. "this is all about what the two parties agree on". Really? I thought you'd been telling us for months that it's all about simply following EU rules for departure.

 

5. "there is nothing between heaven and earth that is not possible in a customs union". There are many things that are possible inside a CU. But the limitations on members of a CU are as I described. Where are you getting the info to support your assertion from? Can you name any other CUs?

 

You are one of the more articulate and polite "leavers". Your posts have suggested that you have a long personal history with the EC. Would you mind if I asked you to elaborate?

 

By the way, your recent posts have suggested you reside in Yorkshire. Really? I lived in York for a couple of years a long while back. How's it going now?

  

now

will see if this works

 

1. No A50 needed? Really? Ok. Actually I agree in principle. But we need to advise the EU bureaucrats and the HoC/L.

Right,

Two partners sitting down at a table finding an agreed path forward where at the end UK is removed from the EU and EEA treaties, that is the kernel.

Can be done with and without A50.

2. "Capitals with absolutes"? I have used bold to highlight a key point.

Here my lack of command of English is shining through, clearly. When I say capitals and absolutes, I refer to your way of saying this this this is possible and this this this is not possible. That is capitals and absolutes to me. 

We are dealing with deals here, whatever is agreed is what goes.

3. "Mathematics"? I agree. Economics is not a zero sum game. But try telling that to the Project Fear "forecasters". I seem to be the only person on TVF who has read the forecasts at source - certainly there is no evidence that anyone else has.

 My use of the word mathematics – same as above – absolutes and capitals

4. "this is all about what the two parties agree on". Really? I thought you'd been telling us for months that it's all about simply following EU rules for departure.

 I beg your pardon, have  never said anything whatsoever along that line, what I am constantly arguing is that its all about negotiation and agreeing and making a deal. Having said that, EU has no rules for  departure. The only departure I know of is Greenland, apparently not  significant enough for EU to make rules 

5. "there is nothing between heaven and earth that is not possible in a customs union". There are many things that are possible inside a CU. But the limitations on members of a CU are as I described. Where are you getting the info to support your assertion from? Can you name any other CUs?

Well, my approach is different, its all soft sheite, what you agree is what goes. You cant look CU up in a book and find answers to what goes and what does not go. CUs are all about agreements, there are no recipes that must be followed.

----------

You are one of the more articulate and polite "leavers". Your posts have suggested that you have a long personal history with the EC. Would you mind if I asked you to elaborate?

I am not a leaver. But I have no problem understanding the desire for sovereignty and full control of legislation – borders – immigration. That is an honest path and should be respected.

Wise to leave? Wouldn’t know about that. Regarding the barstool talk, let GB be G again I think that UK would probably loose on that. But why try to be G if you can be happy as small.

 I am following Brexit closely because I am generally interested in politics and international relations.  Brexit stands out as a rather major landmark in this area since the early 60s.

I have 4 aspects (in the maritime sense) on Brexit

A Would be very interesting to watch how UK would fare after a hard Brexit.

B OK to have UK in EU as kinda handbrake against the wildest EU ideas

C I would hate to see UK in EFTA

D Interesting to follow the developments, very interesting, and I get annoyed and carried away when I see international relations and negotiations badly handled.

---

By the way, your recent posts have suggested you reside in Yorkshire. Really? I lived in York for a couple of years a long while back. How's it going now?

 Hehe, ha ha,

I like York, a lot. (have a special memory about York and underware)

Am residing in Thailand.

“As we say in Yorkshire” is just an empty joke.

Sometimes I use that phrase when paraphrasing Norwegian slogans/sayings,

I can’t say as we say in Norway because we don’t speak English in Norway.

And Yorkshire is pretty Norway close.

Also.  I enjoy Yorkshire head on me pint.

When I went to Uni in Scotland we had all these student societies,

Chess, bridge, rugby, football – what the heck – and we had Yorkshire Society

In which I was a member, YorkSoc was all about getting pissed and having a ball, and outings to breweries and distilleries.

I was a prominent member, (and a member of CAMRA).

Curious about me and the Commission? I’ll see if I can produce smth condense.

But, must say, I am full of praise of how the Commission works and the total openness re their thinking and proceedings. And their willingness to listen to arguments. Don’t think there is any other political system around, anywhere in the world, that is equa 

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32 minutes ago, My Thai Life said:

I'll say this for the umpteenth time: I am not a Leaver or Remainer. I can see the benefits of both both positions. I am however a qualified economist who has worked in over 25 countries, a citizen of 2 EU countries, with Permanent Resident status in 2 further countries. I have a huge relevant international  business experience and a quaternary educationary to support it.  

 

The reasons that I tend to take the Leave position on this forum are that (1) Leave won the vote (2) the abuse and nastiness of many Remain posters here (3) so much of the Remain propaganda, paid for by UK tax-payers, is simply wrong - as was the BoE's and Treasury's pre-referendum "forecasts" (4) the attempt to overthrow the democratic outcome of the UK referendum is absolutely appalling in my view - I can understand that a few crypto-fascist Neo-liberals would want to do this, but people who consider themselves to be "progressive" - no way.

 

People who try to overthrow democratic process are neither liberal nor progressive.

 

 

hmmm,

through my  6 degrees I never came across quaternary educationary,

my Oxford does not recognise it either

 

what is "quaternary educationary", please.

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24 minutes ago, My Thai Life said:

I'll say this for the umpteenth time: I am not a Leaver or Remainer. I can see the benefits of both both positions. I am however a qualified economist who has worked in over 25 countries, a citizen of 2 EU countries, with Permanent Resident status in 2 further countries. I have a huge relevant international  business experience and a quaternary educationary to support it. 

 

The reasons that I tend to take the Leave position on this forum are that (1) Leave won the vote (2) the abuse and nastiness of many Remain posters here (3) so much of the Remain propaganda, paid for by UK tax-payers, is simply wrong - as was the BoE's and Treasury's pre-referendum "forecasts" (4) the attempt to overthrow the democratic outcome of the UK referendum is absolutely appalling in my view - I can understand that a few crypto-fascist Neo-liberals would want to do this, but people who consider themselves to be "progressive" - no way.

 

People who try to overthrow democratic process are neither liberal nor progressive.

 

 

This post by MTW should be the end of the debacle/debate.

But the hind leg of the donkey will remain firmly attached.

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58 minutes ago, melvinmelvin said:

 

---

By the way, your recent posts have suggested you reside in Yorkshire. Really? I lived in York for a couple of years a long while back. How's it going now?

 Hehe, ha ha,

I like York, a lot. (have a special memory about York and underware)

Am residing in Thailand.

“As we say in Yorkshire” is just an empty joke.

Sometimes I use that phrase when paraphrasing Norwegian slogans/sayings,

I can’t say as we say in Norway because we don’t speak English in Norway.

And Yorkshire is pretty Norway close.

Also.  I enjoy Yorkshire head on me pint.

When I went to Uni in Scotland we had all these student societies,

Chess, bridge, rugby, football – what the heck – and we had Yorkshire Society

In which I was a member, YorkSoc was all about getting pissed and having a ball, and outings to breweries and distilleries.

I was a prominent member, (and a member of CAMRA).

Curious about me and the Commission? I’ll see if I can produce smth condense.

But, must say, I am full of praise of how the Commission works and the total openness re their thinking and proceedings. And their willingness to listen to arguments. Don’t think there is any other political system around, anywhere in the world, that is equa 

 

 Very sorry to inform you of this bad news. But even though you were fortunate to live in the wonderful city of York.

 Your application for one of these has been turned down.

One of the reasons, being that that vast majority of Yorkshire folk,voted to exit the so called European Union.

 

8EC71628-505D-44C9-B423-B5B00E38E901.png

Edited by nontabury
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30 minutes ago, nontabury said:

 

 Very sorry to inform you of this bad news. But even though you were fortunate to live in the wonderful city of York.

 Your application for one of these has been turned down.

One of the reasons, being that that vast majority of Yorkshire folk,voted to exit the so called European Union.

 

8EC71628-505D-44C9-B423-B5B00E38E901.png

 

pissed?

have no idea what you are talking about 

 

guess your comment fits nicely in with all the other pro Brexit against Brexit threads

 

 

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