9 minutes ago, sandyf said:

I would have thought that was fairly obvious, the governments hands are now well and truly tied in respect of further funding due to the rising national debt as a result of the brexit vote.

The government has cut funding to local authorities over the last 5 years causing a crisis in social care which has had a knock on effect on the NHS. The government solution has been to tell the local authorities to raise the council tax.

 

Our Finance minister giving his Autumn statement announced that Brexit had knocked a 50 billion pound hole in the public finances. As I said when you are in a hole you don't keep digging which is what we were in before Brexit.

Sterling: the last 12 hours when hard brexit is the sing song:

 

2 hours ago, SaintLouisBlues said:

2 hours ago, pitrevie said:

nobody is going to convince me 

'Nuff said

Indeed --  no point in talking to him again !!  haha!! 

1 hour ago, pitrevie said:

 

Our Finance minister giving his Autumn statement announced that Brexit had knocked a 50 billion pound hole in the public finances. As I said when you are in a hole you don't keep digging which is what we were in before Brexit.

It's the EU that's in a hole, and we're climbing out,,,,,,

3 hours ago, SheungWan said:

Pound and FTSE:

 

 

 

 

No correlation whatever. One's going up and the other's going down. ?

Just now, jpinx said:

Indeed --  no point in talking to him again !!  haha!! 

 

It would be useful when you quote people to include the whole sentence not just part of it.

1 hour ago, sandyf said:

I would have thought that was fairly obvious, the governments hands are now well and truly tied in respect of further funding due to the rising national debt as a result of the brexit vote.

The government has cut funding to local authorities over the last 5 years causing a crisis in social care which has had a knock on effect on the NHS. The government solution has been to tell the local authorities to raise the council tax.

Would you like a broader brush?  That explanation is like saying it'll only work if it rains on tuesdays :)

1 minute ago, pitrevie said:

 

It would be useful when you quote people to include the whole sentence not just part of it.

I thought I had --  sorry if I missed a bit.  What was it?

2 hours ago, sandyf said:

Separate issue.

How is that a "separate issue" ??  It's the mess that is the EU that is not getting reformed and has driven UK out

3 minutes ago, jpinx said:

It's the EU that's in a hole, and we're climbing out,,,,,,

 

So now our own finance minister doesn't know what he is talking about. A whole department studying the nations financial affairs and you know better, well done.

1 hour ago, SheungWan said:

Sterling: the last 12 hours when hard brexit is the sing song:

 

Sterling against what?  Bananas???

2 hours ago, SaintLouisBlues said:

Nor the stock market bounding ahead. As we can all see, the FTSE has been on the slide ever since Leave won the referendum. Agreed?

 

Look at FTSE valued in USD 

e2a@ Grouse beat me to it!

 

2 hours ago, SaintLouisBlues said:

Nor the stock market bounding ahead. As we can all see, the FTSE has been on the slide ever since Leave won the referendum. Agreed?

 

Around 70% of the FTSE 100 firms earn their revenues in dollars. Among them are the largest on the London exchange: oil majors BP and Shell; the mining companies BHP Billiton and Anglo American; and banks such as HSBC. As the value of dollars rises versus the pound, the profits of these companies increase. They become more valuable and the stock market goes up as a consequence.

 

You can plainly see this in the graphic posted by SheungWan :

 

 

 

 

Also, there is another dynamic at play, the UK is currently in a temporary limbo period where it's cheap for other countries to import UK products because of the weak pound, but there is a lag/delay in increased production costs(as a result of the weak pound), increased production costs which have not yet kicked in, they will as production inflation is as much guaranteed as the sun rising tomorrow.

 

Imagine a high street shop that's doing badly due to a lack of customers through the door, so every time you walk by the shop window you can see the shop is empty with staff standing around doing nothing, the shop is finally forced to close and in the last week of business it cuts prices to clear it's remaining stock. ......you then walk past window, see that the shop is filled with paying customers which makes you wonder why it has to close down if it's doing so well?

 

 

34 minutes ago, jpinx said:

Would you like a broader brush?  That explanation is like saying it'll only work if it rains on tuesdays :)

 

You'll have to explain that. What is your point?

29 minutes ago, jpinx said:

Sterling against what?  Bananas???

 

Cable obviously

20 minutes ago, Grouse said:

 

It was an entirely reasonable repost to Gravy's asinine comments. I had laid out some straightforward points of view and it is not my fault that they were obviously not understood.

 

Gravy's post made some excellent points. Your reply was asinine, inane, and entirely typical.

11 minutes ago, onthesoi said:

e2a@ Grouse beat me to it!

 

 

Around 70% of the FTSE 100 firms earn their revenues in dollars. Among them are the largest on the London exchange: oil majors BP and Shell; the mining companies BHP Billiton and Anglo American; and banks such as HSBC. As the value of dollars rises versus the pound, the profits of these companies increase. They become more valuable and the stock market goes up as a consequence.

 

You can plainly see this in the graphic posted by SheungWan :

 

 

 

 

Also, there is another dynamic at play, the UK is currently in a temporary limbo period where it's cheap for other countries to import UK products because of the weak pound, but there is a lag/delay in increased production costs(as a result of the weak pound), increased production costs which have not yet kicked in, they will as production inflation is as much guaranteed as the sun rising tomorrow.

 

Imagine a high street shop that's doing badly due to a lack of customers through the door, so every time you walk by the shop window you can see the shop is empty with staff standing around doing nothing, the shop is finally forced to close and in the last week of business it cuts prices to clear it's remaining stock. ......you then walk past window, see that the shop is filled with paying customers which makes you wonder why it has to close down if it's doing so well?

 

 

 

But what does your shop have to do with the dynamic UK economy? It's a nonsense comparison.

17 minutes ago, onthesoi said:

e2a@ Grouse beat me to it!

 

 

Around 70% of the FTSE 100 firms earn their revenues in dollars. Among them are the largest on the London exchange: oil majors BP and Shell; the mining companies BHP Billiton and Anglo American; and banks such as HSBC. As the value of dollars rises versus the pound, the profits of these companies increase. They become more valuable and the stock market goes up as a consequence.

 

You can plainly see this in the graphic posted by SheungWan :

 

 

 

 

Also, there is another dynamic at play, the UK is currently in a temporary limbo period where it's cheap for other countries to import UK products because of the weak pound, but there is a lag/delay in increased production costs(as a result of the weak pound), increased production costs which have not yet kicked in, they will as production inflation is as much guaranteed as the sun rising tomorrow.

 

Imagine a high street shop that's doing badly due to a lack of customers through the door, so every time you walk by the shop window you can see the shop is empty with staff standing around doing nothing, the shop is finally forced to close and in the last week of business it cuts prices to clear it's remaining stock. ......you then walk past window, see that the shop is filled with paying customers which makes you wonder why it has to close down if it's doing so well?

 

 

Kiddies economics in use by the "hard remainers"...  really? 

12 minutes ago, Khun Han said:

 

But what does your shop have to do with the dynamic UK economy? It's a nonsense comparison.

 

5555 ...it's not a comparison it's an analogy.

 

Just because the shop and the ftse are apparently busy and filling the tills, ....it doesn't necessarily mean they are doing well!

1 minute ago, jpinx said:

Kiddies economics in use by the "hard remainers"...  really? 

 

Yes, I find most Brexiteers can't handle much more. 

 

eg ..khun han is still struggling to grasp the concepts!

9 minutes ago, jpinx said:

Kiddies economics in use by the "hard remainers"...  really? 

 

More importantly ...can you dispute my actual economic points using hard facts?

31 minutes ago, Khun Han said:

 

Gravy's post made some excellent points. Your reply was asinine, inane, and entirely typical.

 

Are you his nurse or something?

 

You and your little gang seem incapable of rational discussion or being able to accept anyone else's point of view politely.

 

1) I cited the collapse of Sterling. IMHO this is an overall bad thing even though it does help exporters in the short term

 

2) The xenophobia comment concerned the rise in hate speech against foreigners such as Poles

 

3) I am pro European social values. I have no issue with high taxes for a great civil society. Government coffers are being hit hard and they are reducing the load on higher earners and slashing corporation tax. All highly regressive.

 

4) The EU has indeed been able to wield soft power. Consider the sanctions on Russia over Ukraine incursions. Also the pressure applied to Tehran to get the nuclear deal.

 

5) NATO has indeed worked very well to date and I would not wish to see it undermined

 

Now, matron, none of those points were accepted as even being reasonable points of view. I don't mind being disagreed with or even laughed at but to respond in such an asinine way leaves me speechless!

18 minutes ago, onthesoi said:

 

5555 ...it's not a comparison it's an analogy.

 

On appearances, both the shop and the ftse are apparently busy and doing a roaring trade, ....but it doesn't mean they are doing well!

 

I called the doctor the other day...

 

I said I had so many big red spots that my face had turned into a cherry cake...

 

He said "you've got a serious analogy"

 

 

4 hours ago, jpinx said:

That only worked short-term for Thatcher, then the bubble burst.  What's happening now is the divorce from the EU is making all the traders nervous, but it is making the UK working public happy. Feed that into the financial computer and see what will be predicted.  Or is that too obvious?

 

The collapsing pound is the reason why some economic indicators are positive. There exports earn more while they use existing stocks. But who is Actually benefitting? As inflation kicks in there will surely be upward pressure on wages. Holidays in Florida 20% more expensive? Pay rise please!

 

Good news in the short term for owners of exporting companies.

 

Government finances will be hit as foreign debt is revalued. Less money available for essential service and infrastructure upgrades.

 

Overall, worrying for the English.

34 minutes ago, onthesoi said:

 

More importantly ...can you dispute my actual economic points using hard facts?

 

You haven't made any actual economic points to dispute. The UK economy is officially in expansion, and that's not in dispute.

42 minutes ago, onthesoi said:

 

5555 ...it's not a comparison it's an analogy.

 

Just because the shop and the ftse are apparently busy and filling the tills, ....it doesn't necessarily mean they are doing well!

 

Oh dear. Someone else playing with a thesaurus.

 

The FTSE isn't the big marker. The current expansion in manufacturing, financial markets, employment, etc, are.

6 minutes ago, Grouse said:

 

The collapsing pound is the reason why some economic indicators are positive. There exports earn more while they use existing stocks. But who is Actually benefitting? As inflation kicks in there will surely be upward pressure on wages. Holidays in Florida 20% more expensive? Pay rise please!

 

Good news in the short term for owners of exporting companies.

 

Government finances will be hit as foreign debt is revalued. Less money available for essential service and infrastructure upgrades.

 

Overall, worrying for the English.

 

Sterling will stabilise once the globalists stop playing with it. It will be costing them a fortune to do what they're doing, and it will be depressing for them to see their efforts having so little effect. Lets see how much will they have.

14 minutes ago, Khun Han said:

 

Oh dear. Someone else playing with a thesaurus.

 

The FTSE isn't the big marker. The current expansion in manufacturing, financial markets, employment, etc, are.

 

Because everything is now cut price. Even thesaurus manufacturers are ramping up because they get more profit from every export sale. HOWEVER imported components and material will be more expensive. Is this the way to build a great economy? Like Vietnam? UK needs to be knowledge based with the best brains selling the best products. But that's just me

16 minutes ago, Khun Han said:

 

Sterling will stabilise once the globalists stop playing with it. It will be costing them a fortune to do what they're doing, and it will be depressing for them to see their efforts having so little effect. Lets see how much will they have.

 

Forex dealers are in it to make a profit. You think they care about anything else? BS! If they feel Sterling will tank they will short it...

Now Donald Trump has entered into the Brexit mess by saying Brexit is a "good thing".