Pound drops to lowest level since 1985

[baboon]

http://www.bloomberg.com/news/articles/2016-10-11/may-backs-down-on-parliament-vote-over-her-brexit-terms

 

Seems Theresa May is backing down...

[Johnyo]

A very sensible Brexiter

 

https://www.theguardian.com/commentisfree/2016/oct/11/we-voted-brexit-keep-parliament-sovereign-wont-be-gagged

[Grouse]

48 minutes ago, baboon said:

http://www.bloomberg.com/news/articles/2016-10-11/may-backs-down-on-parliament-vote-over-her-brexit-terms

 

Seems Theresa May is backing down...

 

Now that, sir, is the best news in a long time. Let's see if that puts a floor under Sterling at least temporarily ?

[Grouse]

5 minutes ago, Johnyo said:

A very sensible Brexiter

 

https://www.theguardian.com/commentisfree/2016/oct/11/we-voted-brexit-keep-parliament-sovereign-wont-be-gagged

 

Wow! Better and better! I hope the man means it and is not just catching the next cynic bus....

[Jip99]

1 hour ago, chiang mai said:

10 year gilts are up 50 basis points since August, they're saying we need an interest rate hike to 1% - that'll be a good trick, I sense a re-emerging market for Anderson shelters!

 

 

The BoE should have raised to 1% rather than drop to 0.25%.

 

 

That would have shown balls....

[Naam]

1 hour ago, yogi100 said:

Merkel and Juncker and Co are furious about our withdrawal and have instructed their flunkies in the European banks to manipulate the exchange rates in our disfavour and to our cost to make us suffer and in order to inject fear into others who may also want to exit the EU.

[sandyf]

3 hours ago, baboon said:

http://www.bloomberg.com/news/articles/2016-10-11/may-backs-down-on-parliament-vote-over-her-brexit-terms

 

Seems Theresa May is backing down...

Interesting week ahead.

 

" The prime minister’s most senior legal adviser, Attorney General Jeremy Wright, will attempt to convince a judge that May can trigger Article 50 of the Lisbon Treaty, which starts an exit, without approval from her fellow lawmakers. Failure would force the issue into the House of Commons and the House of Lords, both of which were largely pro-EU. The lawsuit, which has hearings scheduled for Oct. 13 and 17, could delay the exit for a year, or lead to its derailment altogether. "

http://www.bloomberg.com/news/articles/2016-10-11/u-k-court-to-decide-how-soon-brexit-can-actually-mean-brexit

Edited October 12, 2016 by metisdead
Oversize font reset to normal, please discontinue posting using large fonts for emphasis.

[Khun Han]

2 hours ago, NanLaew said:

Hopefully, the same sanity will prevail north of Hadrian's and that infernal wee woman and her band of sycophantic acolytes will implode... or just bugger off to some cave and watch spiders. The problem is that the Tories are as perpetually in the Scottish wilderness as Labour are south of the border. That leaves it up to a newly empowered Scottish Labour to get a grip but not at all sure if that features anywhere in Corbyn's playbook at all. Wouldn't be the first time that some Scots-born leadership has prevailed and dominated south of the border.... and still buggered it up.

 

Anyway, British secessionism is a sideshow but I agree that it can and will interfere with how quickly and efficiently the United Kingdom responds to the undeniable challenges that leaving the EU presents. 

 

Or: How to completely misunderstand Scottish politics and insult about half of Scotland in one hapless post.

[yogi100]

5 minutes ago, Humberstone said:

 

Good grief. Your post (and the sentiments contained therein) make a great case for more immigration not less.

 

 

 

Can you please explain why.

[sandyf]

4 hours ago, rockingrobin said:

Under the terms of the good friday agreement a majority from both the Republic of Ireland and NI is required.At present I dont see the support in the Republic, especially when considering the EU funds available to maintain the peace process.

Although Ireland is important, an intriguing prospect lies ahead in Scotland, although they probably wont prevent the great repeal bill, which cuts across devolved matters, there is nothing preventing Scotland Parliament enacting a bill to continue EU laws

Not quite. The Good Friday Agreement called for equality between Nationalists and Unionists in the government of Northern Ireland. The Unionists are now in the minority on Belfast City Council.

My friend tells me they have been talking about dismantling the peaceline for several years but nothing has been done.

https://www.theguardian.com/cities/2015/sep/29/belfast-berlin-wall-moment-permanent-peace-walls

 

NI could very well see the EU as a way out of the predicament.

[garywim]

When do we pensioners expect some good news about the Exchange rate?

My pension has dropped by nearly 4.000 baht per month.

Anyone else?

[Naam]

18 minutes ago, Humberstone said:

 

To out-breed small minded xenophobes and improve the gene pool

[Iforbach]

Years ago I spit my savings uk pounds @ US dollars so I sit on fence ,,right or wrong ,,not sure but it works for me 

[Laughing Gravy]

2 hours ago, Grouse said:

 

Yes, this is all correct IMHO.

 

Mrs May putting the Con Party conference before the country is very telling. I note that some Tory leavers are now expressing concern.

 

There is, or at least was, an entirely reasonable way forward. Is TM just stupid or is she cynical?

 

You see, my view was that on BALANCE it was better to remain and FORCE change from within.

 

Clearly UK total immigration rate was too high. Discounting my anti Muslim views, adjustments could have been negotiated (limiting annual total, total per country, job offers in advance) and living wage enforced.

 

EU waste is appalling. This could have been negotiated including the balmy Strasbourg / Brussels arrangement and FORCING proper audits.

 

I don't think the budget contribution unreasonable

 

Fishing quotas seem illogical. Clearly we need sensible regulations to preserve stocks. We've seen what happens when fishermen are left to manage the situation

 

EU employment and environmental regs were also good for the average man.

 

I do think there was scope to increase democracy within the EU but it is no where near as bad as many think.

 

But overall, and on BALANCE, I still feel the EU is a benign influence.

 

Throwing everything away to get some benefit that will not materialise is just foolish. 

 

It's not over yet by a long way. How much is a litre of 98 octane? How much by year end do you think?

 

BTW, Gravy, I thought your Yorkshireman piece was spot on!?

I am going to say I agree with some of your points here. Thanks about the clip that was sadly removed as I put it on in good faith. Harry Enfield Yorkshiremen clip on you tube for those who are interested. You have a good sense of humour ole chap.

[rockingrobin]

17 minutes ago, sandyf said:

Not quite. The Good Friday Agreement called for equality between Nationalists and Unionists in the government of Northern Ireland. The Unionists are now in the minority on Belfast City Council.

My friend tells me they have been talking about dismantling the peaceline for several years but nothing has been done.

https://www.theguardian.com/cities/2015/sep/29/belfast-berlin-wall-moment-permanent-peace-walls

 

NI could very well see the EU as a way out of the predicament.

The option to re-unite was in the irish constitution amendment

 

United Ireland: Article 2, as substituted after the Good Friday Agreement, asserts that "every person born in the island of Ireland" has the right "to be part of the Irish Nation"; however, Article 9.2 now limits this to persons having at least one parent as an Irish citizen. Article 3 declares that it is the "firm will of the Irish Nation" to bring about a united Ireland, provided that this occurs "only by peaceful means", and only with the express consent of the majority of the people in Northern Ireland

https://en.wikipedia.org/wiki/Constitution_of_Ireland

[Khun Han]

14 minutes ago, Laughing Gravy said:

I am going to say I agree with some of your points here. Thanks about the clip that was sadly removed as I put it on in good faith. Harry Enfield Yorkshiremen clip on you tube for those who are interested. You have a good sense of humour ole chap.

 

Prolly like that Hale and Pace 'Yorkshire Airlines' sketch too. I think it's available on YouTube .

[Grouse]

13 minutes ago, Khun Han said:

 

Prolly like that Hale and Pace 'Yorkshire Airlines' sketch too. I think it's available on YouTube .

 

Aye, always fly Alan Bennett class me sen! 

 

Monty Python's "Working Class Playwright" may also amuse - "Tungsten Bloody Carbide"....

Edited October 12, 2016 by Grouse

[Laughing Gravy]

When it all gets too serious, a bit like this thread. Harry and Paul-The Royal Northerner show on youtube. Puts like back into perspective.

[ourmanflint]

Very good article in FT the other day, basically saying that we are at a point where we will need to restructure our economy, the same way as Germany & Japan had to after WWII, the shift is that big. We need to stop relying on the city and financial services to drive the economy and move more to other sectors. 

I think this makes complete sense, the spiral of money centred on the city was always a stupid idea. We need a more balanced economy, and like Germany & Japan, we might actually come out of the whole thing stronger. At least that is the hope isn't it?

FT Article

 

Mervyn King - that old geezer who ran the BoE for a while doesn't think there's anything to worry about

 

Mervyn King

[Grouse]

11 minutes ago, Laughing Gravy said:

When it all gets too serious, a bit like this thread. Harry and Paul-The Royal Northerner show on youtube. Puts like back into perspective.

 

Great stuff

 

At the end they invite us to the "South of England Economic Migrants Trials"!

[rockingrobin]

6 minutes ago, ourmanflint said:

Very good article in FT the other day, basically saying that we are at a point where we will need to restructure our economy, the same way as Germany & Japan had to after WWII, the shift is that big. We need to stop relying on the city and financial services to drive the economy and move more to other sectors. 

I think this makes complete sense, the spiral of money centred on the city was always a stupid idea. We need a more balanced economy, and like Germany & Japan, we might actually come out of the whole thing stronger. At least that is the hope isn't it?

FT Article

 

Mervyn King - that old geezer who ran the BoE for a while doesn't think there's anything to worry about

 

Mervyn King

Germanys re-unification, 

[Grouse]

12 minutes ago, ourmanflint said:

Very good article in FT the other day, basically saying that we are at a point where we will need to restructure our economy, the same way as Germany & Japan had to after WWII, the shift is that big. We need to stop relying on the city and financial services to drive the economy and move more to other sectors. 

I think this makes complete sense, the spiral of money centred on the city was always a stupid idea. We need a more balanced economy, and like Germany & Japan, we might actually come out of the whole thing stronger. At least that is the hope isn't it?

FT Article

 

Mervyn King - that old geezer who ran the BoE for a while doesn't think there's anything to worry about

 

Mervyn King

 

Brexiteers are fideists - discuss

 

(BTW, I reckon "est" is redundant)

 

Bloody Yorkshire schools.......

[Khun Han]

14 minutes ago, ourmanflint said:

Very good article in FT the other day, basically saying that we are at a point where we will need to restructure our economy, the same way as Germany & Japan had to after WWII, the shift is that big. We need to stop relying on the city and financial services to drive the economy and move more to other sectors. 

I think this makes complete sense, the spiral of money centred on the city was always a stupid idea. We need a more balanced economy, and like Germany & Japan, we might actually come out of the whole thing stronger. At least that is the hope isn't it?

FT Article

 

Mervyn King - that old geezer who ran the BoE for a while doesn't think there's anything to worry about

 

Mervyn King

 

Without wishing to drift too much offtopic, this is imo to a large extent the Thatcher government's chickens coming home to roost. They saw the future of UK inc as services (particularly financial) oriented. They decided that the best way to deal with outdated, union-strife-ridden heavy industry was to help along it's demise, rather than modernise it. I think the foreign owned car manufacturing plants give us an indication of where we could have been, had they taken a more balanced view back then. Instead, we have this absurd boom and bust economy that revolves mainly around the financial markets, and has opened up a huge, unwarranted, undeserved wealth gap in society.

 

By the way, most members can't read FT articles: it's a subscription service.

[dunroaming]

Expect some backtracking over the next few weeks from May.  The hard brexit approach might sound like a positive defiant stance but in reality we are on very thin ice.  Petrol is forecasted to reach £1.25 a litre and that will further increase goods with higher transport costs.  Before triggering brexit the government really must lay out exactly what their plan is.  The markets will stay volatile if they keep quiet.

[ourmanflint]

14 minutes ago, Khun Han said:

 

Without wishing to drift too much offtopic, this is imo to a large extent the Thatcher government's chickens coming home to roost. They saw the future of UK inc as services (particularly financial) oriented. They decided that the best way to deal with outdated, union-strife-ridden heavy industry was to help along it's demise, rather than modernise it. I think the foreign owned car manufacturing plants give us an indication of where we could have been, had they taken a more balanced view back then. Instead, we have this absurd boom and bust economy that revolves mainly around the financial markets, and has opened up a huge, unwarranted, undeserved wealth gap in society.

 

By the way, most members can't read FT articles: it's a subscription service.

 

Exactly, Yes!

 

Link seems to have only gone offline this morning

Edited October 12, 2016 by ourmanflint

[ubonjoe]

I have removed several post and replies to them that broke several of the forum rules. A repeat of them will result in a formal warning.

[Prbkk]

While I haven't looked closely at the cross rates, it would seem that the Baht is sinking even faster , and with more of that to be expected the purchasing power using the GBP in Thailand should not be too greatly affected. 

It would be nice to expect to be able to pick up some nice Red Leicester more cheaply in Baht but that isn't going to happen.

[Johnyo]

While I haven't looked closely at the cross rates, it would seem that the Baht is sinking even faster , and with more of that to be expected the purchasing power using the GBP in Thailand should not be too greatly affected. 
It would be nice to expect to be able to pick up some nice Red Leicester more cheaply in Baht but that isn't going to happen.

The Baht is suffering against all currencies due to the unspeakable subject.


Sent from my iPhone using Thaivisa Connect

[Grouse]

32 minutes ago, Johnyo said:

 

 

The Baht is suffering against all currencies due to the unspeakable subject.


Sent from my iPhone using Thaivisa Connect

 

 

 

3% in 3 months back to where it was against USD a year ago. I'd invest in Red Leicester futures now....

[Grouse]

43 minutes ago, ubonjoe said:

I have removed several post and replies to them that broke several of the forum rules. A repeat of them will result in a formal warning.

 

Please can you let us know what rules were breached. Thank you. I, for one, have no desire to break any forum rules.