Pound drops to lowest level since 1985

[Grouse]

1 hour ago, Khun Han said:

 

That was me who posted that "motives" comment. If had been an argument for brexit, you still wouldn't have a point. But it wasn't. It was a response to Grouse's 'why do you think I post here?' post. Do try to keep up!

 

Dont think that was me ?

[Johnyo]

 
Stated with complete confidence, no knowledge of how brexit negotiations are going to pan out, no consideration of the EU's huge financial problems and not a shred of evidence to back the claim up.

I said no single market. If you really believe that losing free access to the biggest market in the world + the possibility of losing passport rights for financial institutions is not going to have any affect then I admire your optimism. I can't be bothered so search were I read the report but it estimates a loss of between 6 to 10 percent of GDP over the next 5 years.


Sent from my iPhone using Thaivisa Connect

[Laughing Gravy]

1 hour ago, AlexRich said:

 

 

Which means that your average Brit is no longer at the mercy of overcharging builders and plumbers who have been ripping people off for years. 

Speak to the labourers who are paid low wages and they have been undercut by European workers. Not everyone is ripping people off. Every plumber, builder and electrician  I know don't drive BMW's and drip in gold. they can pay the mortgage, go for a pint ever now and then but they are hardly swamped with money.

 

I guess you are happy for other people from other countries to take British jobs first. What a great a great patriot you are.

[metisdead]

An inflammatory post has been removed and the poster has received a posting holiday.  Others may soon go on a holiday if the inflammatory baiting comments continue.  Keep it civil please. 

[dick dasterdly]

1 hour ago, AlexRich said:

 

The rise of the National Socialists in Germany being a case in point. Not every German was a Nazi but they managed to convince a huge number of the population to support them ... in difficult times extremists flourish, and "the people" unfortunately don't always get it right. 

 

 

 

 

For the first time, I agree.

 

But it takes a background of a downtrodden poor to reach this xenophobic point.

 

Will the EU leaders take heed of the lessons history has taught?

Edited October 20, 2016 by dick dasterdly

[Grouse]

1 hour ago, Khun Han said:

 

From the article:

 

"The supporters of Brexit should have seen this coming. A large-scale flight of foreign capital from Britain in both manufacturing and services would be a mortal blow to UK economy. In 2015, for example, roughly half of all Japanese investment in the EU was in the UK, with a thousand Japanese groups using the UK “as an effective springboard into Europe,” in the words of the Financial Times, and with Nissan, Toyota, and Honda’s UK assembly plants making up the core of the UK-based auto industry."

 

Excecpt that there isn't a "large scale flight". There isn't any flight at all. There is only large scale post-brexit commitment.

 

Now you are being silly. There will be very little new FDI until conditions are known. If it's 10% duty, new plants will go to EU.

[dick dasterdly]

1 hour ago, sandyf said:

The brexiteers have little choice other than to shrug off the effects of the falling pound, after all they brought it on themselves. In due course they will shrug off inflation, prices rises and all the other side effects.

They are secure in the knowledge that the rest of Europe is about to fall apart and the grass will be greener on the other side.

The reality is that there was never any green grass available, only yellow or brown, and this hypocritical prime minister is determined to ignore the warning signs and march everyone into the brown stuff.

Not exactly a great way to live - accept the yellow or brown grass rather than strive for the green grass .

 

Good to hear though that you accept that only yellow or brown grass is available.

[dick dasterdly]

1 hour ago, Khun Han said:

 

And his request to the German treasury to 'play up' what a disaster brexit would be for the UK, which they later backtracked on when (rather embarrassingly for Osborne) they came clean about it.

I missed that, but wouldn't be suprised if it was true.

[dick dasterdly]

1 hour ago, sandyf said:

Very true. A large scale commitment by the UK government to compensate the Japanese firm for losses incurred due to brexit. No wonder the Nissan boss is happy, win - win situation.

I missed that too .

[dick dasterdly]

54 minutes ago, chiang mai said:

 

Stop with the Deutsche Bank nonsense, I care not a jot about it, they will sell some assets and/or get merged/taken over and that will be all - there, I just put Deutsche Bank on ignore, which is where you will be if you alter any of my posts again.

If ever there was an example of ignoring/refusing to accept potential EU problems - this has to be the most obvious!

[dick dasterdly]

46 minutes ago, Johnyo said:

 

No single market and the U.K. won't even be in the top 10 economies in 5 years.


Sent from my iPhone using Thaivisa Connect

 

Not entirely sure what you mean by this.

 

The EU remains in its existing form and the UK won't be in the top 10 economies?

The EU changes dramatically, but the UK still withdraws - and won't be in the top 10 economies?

The EU collapses and the UK won't be in the top 10 economies.

 

In short, you need to define your definition of "No single market".

Edited October 20, 2016 by dick dasterdly

[chiang mai]

1 minute ago, dick dasterdly said:

If ever there was an example of ignoring/refusing to accept potential EU problems - this has to be the most obvious!

 

I have always accepted it's problem, it's just that after the first round of talking about it I don't find the need to repeat the process daily, week in, week out like some others do.

 

Talking about it non-stop 24/7 doesn't make it any better or worse, especially since it's what it is and its total unguarded collapse represents systemic risk that is hugely unlikely to materialise. So, in those respects I care not a jot and I'm not even a little bit upset, just bored to tears of the unconstructive rhetoric surrounding DB and a pointed refusal to accept that things might just turn out OK.

[AlexRich]

47 minutes ago, Khun Han said:

 

Stated with complete confidence, no knowledge of how brexit negotiations are going to pan out, no consideration of the EU's huge financial problems and not a shred of evidence to back the claim up.

 

And of course if the poster did publish a paper from a research organisation the same people on here would accuse the organisation of being 'biased'.

 

Don't ask for "evidence" or citations when the truth is you have no interest in them whatsoever unless they support a pro Brexit agenda. 

 

 

[dick dasterdly]

50 minutes ago, Laughing Gravy said:

Speak to the labourers who are paid low wages and they have been undercut by European workers. Not everyone is ripping people off. Every plumber, builder and electrician  I know don't drive BMW's and drip in gold. they can pay the mortgage, go for a pint ever now and then but they are hardly swamped with money.

 

I guess you are happy for other people from other countries to take British jobs first. What a great a great patriot you are.

Those builders and plumbers providing a service to ordinary people have been ripping them off for a long time - which is why I have no problem with Polish plumbers staying in the UK .  Incidentally, I feel the same way about private motor mechanics who are also charging far more than justifiable.

 

Presumably there is the equivalent for foreign builder - happy to provide a quality service to ordinary people at a reasonable price?

 

I'm not a 'patriot', and so have no problem with way over-priced self-employed plumbers/builders and the like being forced to reign in their OTT prices.

 

I'm mainly concerned about the unskilled (or employed by companies) labour - as they have been driving wages down for those at the bottom of unskilled wage force, and this has continued upwards to stagnate/reduce the skilled.

 

Meanwhile those at the top of the heap are enjoying ever increasing salaries as they reduce the cost of employees.....

 

Edit - I think it was Cedric Brown (the original fat cat?) who exemplified this.  In his case he had been employed at a very good salary by the nationalised company.  British Gas was then privatised, he sacked numerous workers and awarded himself a HUGE salary increase....

Edited October 20, 2016 by dick dasterdly

[thedivezone]

On 10/18/2016 at 4:02 PM, SheungWan said:

 

Not sure about that, but when some Brexiteers tell you that Brexit was 'a price worth paying' and/or the other joke 'there are more important things than money' and then you winkle out of them that actually they hedged out of sterling in advance to protect themselves against the repercussions of what they were advocating, then draw your own conclusions as to the consistency of what they have been posting.

 

Kind of what i was trying to say, albeit maybe a bit tongue in cheek, basically he's saying "i knew that sterling would be taking a hit, but voted leave nonetheless, and my gamble has paid off".

[SheungWan]

On 19/10/2016 at 2:16 AM, Laughing Gravy said:

Personally I always thought property was overpriced especially in London. I still don't feel that house prices will make houses more available as there just isn't enough. houses so prices are still inflated.

 

I think where lots of people go wrong is they measure their wealth in the equity in a house which, as happened before can get 'whisked away.'

 

I have never known a time when London property was not considered overpriced, but the mistake, more often than not is/was standing aside. As for measuring one's wealth in the equity of London property, no problem in that as long as one recognises that the measurement is not an absolute and comes with concomitant risks. If one is fortunate to get it right and leverage/sell one's property at the right time re currency exposure then setting oneself up for expat life can work out well. The current state of sterling is a pushback on capital transfer gain from pre-Brexit days.

Edited October 20, 2016 by SheungWan

[JB300]

Those builders and plumbers providing a service to ordinary people have been ripping them off for a long time - which is why I have no problem with Polish plumbers staying in the UK .  Incidentally, I feel the same way about private motor mechanics who are also charging far more than justifiable.
 
Presumably there is the equivalent for foreign builder - happy to provide a quality service to ordinary people at a reasonable price?
 
I'm not a 'patriot', and so have no problem with way over-priced self-employed plumbers/builders and the like being forced to reign in their OTT prices.
 
I'm mainly concerned about the unskilled (or employed by companies) labour - as they have been driving wages down for those at the bottom of unskilled wage force, and this has continued upwards to stagnate/reduce the skilled.
 
Meanwhile those at the top of the heap are enjoying ever increasing salaries as they reduce the cost of employees.....
 
Edit - I think it was Cedric Brown (the original fat cat?) who exemplified this.  In his case he had been employed at a very good salary by the nationalised company.  British Gas was then privatised, he sacked numerous workers and awarded himself a HUGE salary increase....

My tenants are Polish, Husband & Wife dentists (each ran their own practise) who have decided to return back to Poland as they believe their daughter will have a better education there (in fairness they decided this before Brexit, but I'm sure that that's done nothing but re-affirm their decision).

So I guess the net result is my home town is out by 2 (by all accounts) very good dentists & I'm out by my tenants, but I'm sure there's an army of Brits just chomping at the bit (sorry couldn't resist) to replace them.

[AlexRich]

45 minutes ago, JB300 said:

 

 

My tenants are Polish, Husband & Wife dentists (each ran their own practise) who have decided to return back to Poland as they believe their daughter will have a better education there (in fairness they decided this before Brexit, but I'm sure that that's done nothing but re-affirm their decision).

So I guess the net result is my home town is out by 2 (by all accounts) very good dentists & I'm out by my tenants, but I'm sure there's an army of Brits just chomping at the bit (sorry couldn't resist) to replace them.
 

 

 

 

Another Brexit casualty ... a brain drain of people who contribute to the economy ... paying taxes, paying rents, spending money in the UK ... who will replace them? The feckless wasters who voted Brexit because they thought they could reduce the 'competition' for housing and benefits? 

 

[elliss]

On 10/15/2016 at 10:54 PM, cumgranosalum said:

Gain??? - just a restoration of the situation before Brexit would be OK - never mind about gain....

 

Uk (england) will be a smaller economy in the next few years and unless the banks start paying ridiculous interest rates that will result in a less valued pound - permanently.

 

     Please  return  me  to the  pre brexi vote era ,   i was  a wealthy  farang then , 

           The  good old  days .    Cold xmas , minus 40 .

[thedivezone]

36 minutes ago, Naam said:

Deutsche Bank postings are extremely important for Brits living in Thailand. once DB goes belly-up the EU will disintegrate and one Pound will buy 5 €URos, alternatively 200 Baht... for starters.

 

Aye, and investors are ripping DB to shreds today, up 5 % on the Xetra, the end is nigh , .. 

[Laughing Gravy]

15 hours ago, Laughing Gravy said:

Speak to the labourers who are paid low wages and they have been undercut by European workers. Not everyone is ripping people off. Every plumber, builder and electrician  I know don't drive BMW's and drip in gold. they can pay the mortgage, go for a pint ever now and then but they are hardly swamped with money.

 

I guess you are happy for other people from other countries to take British jobs first. What a great a great patriot you are.

I didn't have time yesterday to complete the reply. Most of the friends I know in the building trade are sub contractors. The big companies still charge the same money but pay less to the workers. What they are doing is sub contracting the jobs out to minimum wage and even under that. so the Polish, Romanians etc etc take the positions. That is bad for Britain and for British people. This was coincidently in todays British press as the HMRC are looking into companies in trade and service industries who do this actual process.

 

No wonder people I know in the building trade as an example are angry. They see their lively hoods being taken away from them and people from another country taking their jobs at a cheaper salary. No wonder they voted for leave.

 

 

[Loeilad]

16 hours ago, Khun Han said:

 

That was me who posted that "motives" comment. If had been an argument for brexit, you still wouldn't have a point. But it wasn't. It was a response to Grouse's 'why do you think I post here?' post. Do try to keep up!

I've read a few of you posts - you appear to have an irrational fear of Europe and in particular Germans - I see no real merit in your arguments - I also notice a rather sarcastic approach to those who point out the glaring holes in ewhat you mistakenly put forward as arguments though.

 

i think we should stsy in the EU - I think Brexit has seriously damaged the UK and we haven't even left yet...it will also damage the EU - which will make it even more difficult to negotiate an exit, the pound will continue to weaken as will the UK's world status. (no-one respects a fool).

the referendum is not legally binding and this is because it is recognised by su8ccessive UK governments as being undemocratic and therefore only advisory. (Democracy is NOT majorioy rule by plebiscite in UK)

 

here's a pretty succinct argument why we should scrap the referendum and rejoin the EU....and hopefully save the pound and the standard of living in the UK.

Why we should stay in the EU.

 

 

 

Edited October 21, 2016 by Loeilad

[Laughing Gravy]

14 hours ago, dick dasterdly said:

Those builders and plumbers providing a service to ordinary people have been ripping them off for a long time - which is why I have no problem with Polish plumbers staying in the UK .  Incidentally, I feel the same way about private motor mechanics who are also charging far more than justifiable.

 

Presumably there is the equivalent for foreign builder - happy to provide a quality service to ordinary people at a reasonable price?

 

I'm not a 'patriot', and so have no problem with way over-priced self-employed plumbers/builders and the like being forced to reign in their OTT prices.

 

I'm mainly concerned about the unskilled (or employed by companies) labour - as they have been driving wages down for those at the bottom of unskilled wage force, and this has continued upwards to stagnate/reduce the skilled.

 

Meanwhile those at the top of the heap are enjoying ever increasing salaries as they reduce the cost of employees.....

 

Edit - I think it was Cedric Brown (the original fat cat?) who exemplified this.  In his case he had been employed at a very good salary by the nationalised company.  British Gas was then privatised, he sacked numerous workers and awarded himself a HUGE salary increase....

DD maybe we have different friends as I can assure you mine are not the type that you see ripping people off in fact the opposite. You are right those at the top are increasing their profits.

 

What a shame you are not a patriot. I hear that a lot. But these are the first people that call the police when their house is burgled or happy to see the armed forces go into battle for whatever reason. They are also the first to complain when they are not getting the full colonial treatment when abroad because they are British.

[Laughing Gravy]

10 hours ago, JB300 said:

 

 

 

 

My tenants are Polish, Husband & Wife dentists (each ran their own practise) who have decided to return back to Poland as they believe their daughter will have a better education there (in fairness they decided this before Brexit, but I'm sure that that's done nothing but re-affirm their decision).

So I guess the net result is my home town is out by 2 (by all accounts) very good dentists & I'm out by my tenants, but I'm sure there's an army of Brits just chomping at the bit (sorry couldn't resist) to replace them.
 

 

 

Yes you are right there will be lots of tenants to fill your house so you can get your money. There isn't enough housing in the UK so don't worry. So why actually did these two dentists come to the UK? I will tell you. They  came for a better life and could make more money there than in there own country by far and some. I imagine when they came to the UK, if it was in the early days the free and then good education system was highly appealing. now it is in the gutter (state schools) due to the influx of migrants. The free health service also would have been appealing. Lets not forget, it was not your two Polish tenants doing the UK a favour, it was UK doing them the favour by allowing them in the UK, practicing their business and if working for the NHS getting equal salaries or if private charging whatever price they wanted too.

[Loeilad]

8 hours ago, Naam said:

Deutsche Bank postings are extremely important for Brits living in Thailand. once DB goes belly-up the EU will disintegrate and one Pound will buy 5 €URos, alternatively 200 Baht... for starters.

the truth is of course if the EU collapsed as the UK's biggest rading partner so would the UK pound and the world market would go into a recession the likes of which the world has never seen.

 

quite likely that historians in 50 /100 years will be looking at Brexit in the same way they look at the assassination at Sarajevo....the straw thet broke the camels back maybe, but nothing to be proud of.

[Laughing Gravy]

10 minutes ago, Loeilad said:

I've read a few of you posts - you appear to have an irrational fear of Europe and in particular Germans - I see no real merit in your arguments - I also notice a rather sarcastic approach to those who point out the glaring holes in ewhat you mistakenly put forward as arguments though.

 

i think we should stsy in the EU - I think Brexit has seriously damaged the UK and we haven't even left yet...it will also damage the EU - which will make it even more difficult to negotiate an exit, the pound will continue to weaken as will the UK's world status. (no-one respects a fool).

the referendum is not legally binding and this is because it is recognised by su8ccessive UK governments as being undemocratic and therefore only advisory. (Democracy is NOT majorioy rule by plebiscite in UK)

 

here's a pretty succinct argument why we should scrap the referendum and rejoin the EU....and hopefully save the pound and the standard of living in the UK.

Why we should stay in the EU.

 

 

 

When will people start accepting what happened. The referendum has gone, done and the leave won. Fact. Please start accepting it. The PM Theresa may has said it again. Brexit means Brexit.

I don't mind people debating the pros and cons of something but to not accept what has happened through a democratic vote is delusional.

The only way I see Brexit not happening is if the West has a war with Russia which would put everything on hold and possibly change the course of history for ever.

[Loeilad]

9 hours ago, AlexRich said:

 

Another Brexit casualty ... a brain drain of people who contribute to the economy ... paying taxes, paying rents, spending money in the UK ... who will replace them? The feckless wasters who voted Brexit because they thought they could reduce the 'competition' for housing and benefits? 

 

The withdrawal of EU funding for scientific research will undoubtedly lead to a brain drain as scientists pursue funding, it will also destroy UK's position in the scientific community..

[Loeilad]

2 minutes ago, Laughing Gravy said:

When will people start accepting what happened. The referendum has gone, done and the leave won. Fact. Please start accepting it. The PM Theresa may has said it again. Brexit means Brexit.

I don't mind people debating the pros and cons of something but to not accept what has happened through a democratic vote is delusional.

The only way I see Brexit not happening is if the West has a war with Russia which would put everything on hold and possibly change the course of history for ever.

"When will people start accepting what happened. The referendum has gone, done and the leave won. Fact. Please start accepting it. The PM Theresa may has said it again. Brexit means Brexit."

 

- unfortunately no-one knows what Brexit means.

[Loeilad]

Brexiteers seem unaware that a parliamentary vote could stop Brexit in its tracks.

as it is becoming clear that the majority in the UK no longer want Brexit this is increasingly likely to happen in some form or other.

There ias already talk in the Brexit camp of "hard" or "dsofet" Brexit - which is just back-pedalling, and the scrap the Brexit camp is getting more vocal.

Edited October 21, 2016 by Loeilad

[Laughing Gravy]

3 minutes ago, Loeilad said:

the truth is of course if the EU collapsed as the UK's biggest rading partner so would the UK pound and the world market would go into a recession the likes of which the world has never seen.

 

quite likely that historians in 50 /100 years will be looking at Brexit in the same way they look at the assassination at Sarajevo....the straw thet broke the camels back maybe, but nothing to be proud of.

Loeilad, I don't want to be seen to have a go at you but do you not think or believe that the British people or any other EU country needs to be told what it can and can't do. The British people are proud. This has been mentioned many times. The EU is not what it was originally set up for. It is a total complete lie. the Brexit vote will be looked upon the exact opposite of your belief. It was the catalyst for the downfall of the corrupt, one size fits all 'club' that dictates what countries can do and erodes the countries identity. it then tells it what is can make and do. In 50 to 100 years time it will be celebrated like the American independence day.