Property Fund - Suspended

gadgetmind

BTW, running tally of what Leave need to own, in its entirety.

http://www.sincewevotedtoleavethe.eu/

doe808

gadgetmind wrote: »

BTW, running tally of what Leave need to own, in its entirety.

http://www.sincewevotedtoleavethe.eu/

Sunday Times has an articles today on the factories that have announced closure/relocation as a direct result of brexit. Protest vote towns hit hardest, it seems.

"Towns that voted overwhelmingly in favour of leaving the EU are among the first victims of post-Brexit manufacturing job losses.


Last week Forterra, one of Britain’s biggest brick makers, said it would mothball plants in Accrington and Claughton, both in Lancashire, ahead of a potential downturn in construction. The towns are in boroughs that voted 66% and 63%, respectively, for Brexit.


Lush Cosmetics, a maker of soaps and lotions, has offered to shift workers from its factory in Poole after the Dorset town voted 58% to leave the EU. Co-founder Mark Constantine said last week that the poll had shown…



http://www.thetimes.co.uk/article/brexit-towns-see-their-factories-shut-xdsls56sl

bigadaj

gadgetmind wrote: »

I'm a big believer that there can only be currency union if bonds are then issued by the whole bloc using that currency. So there should be "Euro bonds" issued centrally rather than each currency issuing their own. This is why I avoid bonds from EU countries and also US "munis".

Those who argued otherwise and that a country could join the Euro and issue their own debt need to "own the outcome" just as anyone does when they've got it wrong.

Those who argued for Brexit need to "own the outcome" as they refused to accept that a number of entirely reasonable predictions had any merit.

And no, saying "they would have happened anyway" doesn't count when they clearly said these outcomes would not occur.

I wouldn't disagree with your analysis on bond issues, the problem comes from the fact that you then surrender even more tools to manage your economy as an individual country and logically continue down the road to a federal Europe.

I'm not saying that is necessarily a good or bad thing, just that it is a natural consequence.

bigadaj

doe808 wrote: »

Sunday Times has an articles today on the factories that have announced closure/relocation as a direct result of brexit. Protest vote towns hit hardest, it seems.

"Towns that voted overwhelmingly in favour of leaving the EU are among the first victims of post-Brexit manufacturing job losses.


Last week Forterra, one of Britain’s biggest brick makers, said it would mothball plants in Accrington and Claughton, both in Lancashire, ahead of a potential downturn in construction. The towns are in boroughs that voted 66% and 63%, respectively, for Brexit.


Lush Cosmetics, a maker of soaps and lotions, has offered to shift workers from its factory in Poole after the Dorset town voted 58% to leave the EU. Co-founder Mark Constantine said last week that the poll had shown…



http://www.thetimes.co.uk/article/brexit-towns-see-their-factories-shut-xdsls56sl

Forterra is an interesting one, they are the remains of Hanson brick. A couple of years ago we were importing tens of millions of bricks a year as plants hadn't restarted from the downturn following then gfc, any mineral based extractive industry opens and shuts its operations on a regular basis.

I also don't understand this with specific reference to bricks, as were still apparently building only a fraction of the houses we need as a country and teh overall infrastructure spend is a pitiful fraction of that of many other countries.

gadgetmind

bigadaj wrote: »

I'm not saying that is necessarily a good or bad thing, just that it is a natural consequence.

Agreed. So you either accept that this is going to happen (and for movement of capital from "stronger" areas to "weaker" ones to be formalised rather than driven by bailouts and debt write-offs) or you don't go for currency union. Countries that have their own currency can use that wonderful machine called the printing press to reduce their debt burden!

gadgetmind

doe808 wrote: »

Co-founder Mark Constantine said last week that the poll had shown…

Cut off in his prime!

BTW, as of end of last week my company now has a UK hiring freeze with thaw in the near future looking unlikely. I'm still allowed to recruit in Poland and China, so I hope Leave voters have decent language skills and a passport!

Thrugelmir

doe808 wrote: »

Lush Cosmetics, a maker of soaps and lotions, has offered to shift workers from its factory in Poole after the Dorset town voted 58% to leave the EU. Co-founder Mark Constantine said last week that the poll had shown…

Already decided to build a factory in Germany last year. Obviously transferring expertise would be be useful in the short term. Amazing how news is getting spun........

bigadaj

gadgetmind wrote: »

Agreed. So you either accept that this is going to happen (and for movement of capital from "stronger" areas to "weaker" ones to be formalised rather than driven by bailouts and debt write-offs) or you don't go for currency union. Countries that have their own currency can use that wonderful machine called the printing press to reduce their debt burden!

Yes, but this then logically suggests that the eurozone can't survive as it is, with the weaker members being forced out. And by weaker members we basically mean everyone apart from Germany, probably Netherlands, maybe Austria, then I'm struggling!

Sorry, forgot about that economic giant Luxembourg.

bigadaj

Thrugelmir wrote: »

Already decided to build a factory in Germany last year. Obviously transferring expertise would be be useful in the short term. Amazing how news is getting spun........

It's the media, you can't trust anything that is reported.

Thrugelmir

bigadaj wrote: »

And by weaker members we basically mean everyone apart from Germany,

Germany was a beneficiary of the rate that the DM entered the Euro. Prior to that wasn't an economic powerhouse.