Brexit, The Economy and House Prices (Part 2)

Boredatwrork

I am just saying that accepting the outcome of a vote does not mean that I have to change my opinion that it was the wrong decision and is not in the best interests of the UK. There is a view among some of those who voted leave that remain voters must embrace the idea. The fact is that the pro-leave community is coalition of ideas in the public and even in the Cabinet.

I don't think anyone is expected to embrace the idea, just accept and make the best of it, which is the same advice given for any issue for an individual, be it political, social, medical etc.

Whatever the result I believe 40 years is enough time for any country to be allowed a stay/leave choice, I believe all countries within coalitions should be given an option, it is unhealthy to allow things to become cemented to a point where countries are only defined by name only, and the EU really does make a mockery of a democracy.

In regards to winners and losers, like most political decisions, there will obviously be both, but as always it comes down to how well the country can adapt.

What I will say is, if I was a teenager in Greece, and I couldn't even vote to elect the people who in practice are effectively running my fate (EU bureaucrats, Merkyl etc) be it by taxing the banks, punishing the people for govermental mistakes, or inviting millions to travel to my shores leaving my country to pick up the tab (until the migration quota is up, leaving thousands wandering the Europe like nomads for someone else to deal with) I think I would be well within my rights to think the whole EU affair stunk to high heaven.

setmefree2

Sapphire wrote: »

Continued massive quantitative easing in some places

Did you know that 40% of all Japanese Government debt is now owned by the Central Bank of Japan..... I kid you not....

Thrugelmir

setmefree2 wrote: »

Did you know that 40% of all Japanese Government debt is now owned by the Central Bank of Japan..... I kid you not....

20% of all issued Governmentment debt is held by Central Banks. Then there's RMBS and Corporate Bonds on top.

buglawton

Erstwhile soft-Brexiteer Ambrose Evans-Pritchard says he's now having 2nd thoughts about the 'soft' part, due to the false choice being imposed by the European Council puppet masters regarding the exit toll and the order of business. This is in todays DT.

http://www.telegraph.co.uk/business/2017/09/01/world-judges-hague-should-settle-brexit-divorce-bill/
(Premium content but the 1st paragraph shows the gist)

Love it when a good journalist gets right to the heart of the matter.

CBaker

It seems that the business world seems relaxed about Brexit. According to recent Economist article, eight out of ten company filings made by FTSE 100 firms this year do not even mention Brexit (or related phrases such as “single market”).

A_Medium_Size_Jock

Nobody has mentioned the parliamentary elections in Norway.
Not an EU member, yet obviously with links.
Of relevance because it may be an indicator of how the EU's stance is viewed in a country also uncertain with EU relationships.
Well, tomorrow's result is supposedly too close to call.

“We are a country that has always been opposed to elites. And the EU is an elite that takes too much power away from our parliament. We think it transfers too much sovereignty to an unelected bureaucracy in Brussels,” Center Party leader Sygve Slagsvold Vedum told the Associated Press.
He says his party wants Norway to cut its governing ties with the EU.

http://www.sfgate.com/world/article/Norway-election-stirs-debate-over-national-values-12185668.php

Norway's upcoming election has sparked a wide-ranging debate about national values, leaving voters wrestling with how close the Nordic country should be to the European Union and what its responsibilities are toward migrants and asylum-seekers.

http://www.foxnews.com/world/2017/09/09/norway-wrestles-with-national-values-immigration-eu-ties-in-election.html

https://www.ft.com/content/639e97fa-95f1-11e7-a652-cde3f882dd7b

GreatApe

Thrugelmir wrote: »

One still needs to focus and channel energies in a positive manner. For the average Briton being in or out makes little difference to their daily lives. No one complained about the loss of quality jobs (technically skilled) or complete industries due to globalisation in the past 2 decades. More interested in how cheap something can be bought for. Than protecting the next future generations inheritance. Then expecting the Government of the day to magically find an answer to rebalancing the economy. Skills once lost are hard to rebuild. Shifting boxes is no substitute for added value manufacturing.

We have quite a decent manufacturing sector its bigger in nominal and real terms than it was 50 years ago

Also importantly we have full employment so if you added say £200B in annual manufacturing (a shift of 10% points towards manufacturing) where are you going to get the staff to do all this manufacturing? We would need to import about 3 million working migrants (that means importing about 6 million migrants as half as kids or stay at home mums etc) to add £200B in manufacturing. I suppose you could compete with other employers and take their workers off of them but then you shrink other manufacturing businesses or other sectors

GreatApe

buglawton wrote: »

The £ has held quite steady against the $. It's the € that's riding high internationally atm. Fortunately we can substitute a lot of EU products for ones priced in $ quite quickly. Call it practice for a firm & proper Brexit. On the Agricultural side we'd need a longer run of high € to encourage more investment and productivity back into UK farming. But it could happen.

Farming is very low value added it's only about 1% of the economy and jobs any increase is hardly going to do anything

With food its the processing and retail that is the primary value added part
So what we would rather have is an increase not in farming but an increase in exporting processes foods like whiskey or chocolates or other high value added processed/manufactured foods. Or a decrease in imported processed food instead produced domestically