Brexit the economy and house prices part 7: Brexit Harder

Ballard

sevenhills wrote: »

My National Grid shares are still 8% higher, so investers dont think Corbyn will get in. I am hoping a Tory Government will mean certainty and an increase in the share price.

Terrific news about your 8% capital gain.

Thrugelmir

Ballard wrote: »

I assume that we all agree that all businesses borrow money to function.

Nope. Amazon is totally self funding. I myself have worked for a PLC where due to the nature of the business. A positive cashflow was run enabling us to put money on overnight deposit. Heseltine built his Hayward Publishing empire by using his creditors money.

My understanding of banking is somewhat different to the one you describe. Be far to complex for the board of HSBC (for example) to run the business on a global basis day to day.

Ballard

Thrugelmir wrote: »

Nope. Amazon is totally self funding. I myself have worked for a PLC where due to the nature of the business. A positive cashflow was run enabling us to put money on overnight deposit. Heseltine built his Hayward Publishing empire by using his creditors money.

My understanding of banking is somewhat different to the one you describe. Be far to complex for the board of HSBC (for example) to run the business on a global basis day to day.

The danger of a little knowledge is writ large in front of us. You’ve worked for a company which you claim never borrowed any money and named another. I’ve personally seen many syndicated loans for big U.K. names in the 100s of millions over my career. Let’s go with your vast experience though.

BobQ

Ballard wrote: »

The danger of a little knowledge is writ large in front of us. You’ve worked for a company which you claim never borrowed any money and named another. I’ve personally seen many syndicated loans for big U.K. names in the 100s of millions over my career. Let’s go with your vast experience though.

But you said "I assume that we all agree that all businesses borrow money to function.

Clearly the firsts ALL is wrong and there is doubt cast over the second.

Ballard

BobQ wrote: »

But you said "I assume that we all agree that all businesses borrow money to function.

Clearly the firsts ALL is wrong and there is doubt cast over the second.

We have one persons word against all companies borrowing money. Perhaps they are right and a few companies don't borrow money but the vast majority do. Even those with massive reserves of cash do, I've personally seen it. It helps them with cash flow and reduces risk, particularly with importing and exporting.

If you think that most companies do not borrow then that's fine with me. It doesn't bother me in the slightest whether you've taken what I've said as fact or not. I was asked a question and I answered it but I didn't expect Leavers to believe it because it is slightly bad towards Brexit.

The problem with forums is that without using stupid emojis it's not always easy to convey feelings but rest assured that I'm not remotely angry about this. You can listen to someone with 30 odd years experience in banking or not. It's no skin off my nose.

Fran_Klee

Ballard wrote: »

We have one persons word against all companies borrowing money. Perhaps they are right and a few companies don't borrow money but the vast majority do.

So we do not "all agree that all businesses borrow money to function" then?

From the posts above at least 2 people don't agree, and you yourself just moved the goalposts by saying that the vast majority of companies do.
That isn't "all" companies then.

Ballard wrote: »

If you think that most companies do not borrow then that's fine with me. It doesn't bother me in the slightest whether you've taken what I've said as fact or not. I was asked a question and I answered it but I didn't expect Leavers to believe it because it is slightly bad towards Brexit.

Again "most" is not the same as your stated "all".
"Leavers" or Brexiters has no bearing on your misdirection when your answer has been shown to be wrong.
A simple word-change would have done it, but unless you will admit your error rather than digging a deeper hole it does in fact look like you're deliberately misdirecting in order to promote your own (remainer?) agenda.

Ballard wrote: »

The problem with forums is that without using stupid emojis it's not always easy to convey feelings but rest assured that I'm not remotely angry about this. You can listen to someone with 30 odd years experience in banking or not. It's no skin off my nose.

Sometimes I use emojis and sometimes not.
You don't need them to interpret feelings, and it's often quite obvious when someone has been stung by a response they weren't expecting whether emojis are used or not.
Another problem with forums is that people can be and say pretty much anything, for example I could suggest a lengthy background in senior accountancy.
Not that I am doubting what you say, but I will readily admit that I do not in fact have that background.
What I do have though is the ability so see when somebody has said something which is obviously wrong and yet refuses to accept their error despite it being pointed out.

Ballard

This has started to get tedious. I stated that all companies borrow money. I admit that I don’t know the workings of very single company working in the U.K. someone on here has stayed that they worked for a company who didn’t borrow any money. There was no proof offered of this statement but I’ve no reason to believe that it’s not true, as unlikely as that appears.

I stand by my statement that most companies borrow money at some point. This may be temporary or for a single purpose such as the importation of goods.

If You feel the need to keep nitpicking about the semantics of a couple of sentences don’t bother because I’m bored enough of this. Similarly, just ignore the fact that if the U.K. rating is reduced the likelihood is that borrowing for the country and companies operating here is likely to get more expensive.

Edit: For clarity, my answer was not proved to be wrong. Someone disagreed with it without giving proof (which would have been impossible). I have accepted their word at face value.

SpiderLegs

My wife’s company has never borrowed any money.

Ballard

SpiderLegs wrote: »

My wife’s company has never borrowed any money.

Well that's cleared that up then.

SpiderLegs

Ballard wrote: »

Well that's cleared that up then.

It has really. It’s proved unequivocally that you were wrong.