“I think mt thinks the economy of a free Yorkshire could be based on exporting comedy.”

By the looks of it, that comedy was already exhausted before the subject of the tight-fisted county was raised on this thread

The convergence trade was profitable for many years, but it relies on you getting repaid and many of the banks got caught holding the baby because they couldn’t wean themselves off the trade – result they lost money. Read the paper, don’t rely on newspapers and documentaries, anyone who has worked in wholesale finance knows how incredibly naive financial journalists are.

Busting the BS that inequality has been falling

Busting the BS that inequality has been falling

https://www.ft.com/content/d85a3696-f2bb-11e6-95ee-f14e55513608

I see the fishermen are looking likely to be sold down the river.

We all are!

Some time you have to look at yourself and take responsibility (although much easier to blame Theresa May obviously. )

If a Pole can come across Europe and get a job, why is someone from Ebbw Vale unable to?

As i see it the simple fact is that it is easier to blame them to look at your self and ask what you can do to fix your situation. If you pissed around at school and came out with nothing, you are going to reap the rewards of your efforts.

There were options such as going to Germany to find work, but obviously too much effort for many. Then again if unemployment is c5% not much need to export workers.

As for the fishermen, WTF did they expect, international waters, international trade,

http://www.un.org/depts/los/convention_agreements/convention_overview_fish_stocks.htm

Or are we leaving the UN next to reclaim sovereignty? Shortly followed by the WTO because obviously we can’t accept foreigners telling us what to do….

As for the fishermen, WTF did they expect, international waters, international trade

Sadly, they expected what Farage et al told them, that we’d regain control of British Waters and that would miraculously save a failing industry.

The [post-] truth hurts

Just got told that the only reason London voted to remain is that there are more foreigners living there than english people 😯

Read the paper, don’t rely on newspapers and documentaries, anyone who has worked in wholesale finance knows how incredibly naive financial journalists are.

Anyone who has followed any of these banking losses sagas also knows that everything the banks say must be assumed to be a fraction of the truth and the banks are willing to blame everyone including their own personnel rather than admit they were gambling with other people’s money. And even when they’ve won over all they still go pleading to the IMF and ECB for money to cover the losses incurred in one small part of their business in a field where “25%” interest tells even the most naive man on the street it must be high risk – unless you’re a bank too big to be allowed to fail and can claim your losses back from the IMF and ECB.

Banks such as Credit Agricole danced and sang about Greece when they were doing very nicely in the bonds market thanks to risk spreading across many markets but very badly in other areas due to inconsiderate risk taking. They lost a fortune in sub-prime, significant sums in consumer credit and then packaged up their various debts into a holding which included a Greek holding, separated that from the profitable parts of the holding and then conveniently sold it for a euro and went begging for money from the IMF and Europe. All as clear as mud, morally dubious whether legal or illegal but we’ll never know. We just get fed the news they want us to hear and have to second guess what they are doing behind closed doors.

My heart bleeds for the poor fishermen.

Anyone who has followed any of these banking losses sagas also knows that everything the banks say must be assumed to be a fraction of the truth

Which is why I linked a forensic academic paper, it just doesn’t say what you want it to say.

Greece never issued any government paper with a 25% interest rate, the theoretical yield to maturity may have been that high for certain buyers in the secondary market, but that was because the market was pricing in the default risk.

I haven’t looked at Credit Agricole in particular, but if you want to find the truth just follow the paperwork it will be there, just don’t rely on journalists to do it as they often don’t have the requisite knowledge.

thecaptain – Member
My heart bleeds for the poor fishermen.

I’m picturing you as an evil Captain Birdseye now.

Love it Pigface. We should never have given foreigners the vote…

As i see it the simple fact is that it is easier to blame them to look at your self and ask what you can do to fix your situation. If you pissed around at school and came out with nothing, you are going to reap the rewards of your efforts.

Or if your school was shite and uninspiring and those who struggle with mainstream school are abandoned to the scrap heap, perhaps?

Did not see Phillpott, will try and watch on catchup some how. I am no great fan of Le Pen but she is at least discussing issues people want to be addressed and is offering to try and fix what people think is broken. Other oarties won’t discuss and are offering no solution. As Farrage said in the EU Parliament the “high priests” of the EU persist with theor “solution” of more Europe/EU powers when voters want much much less.

We’ve discussed Greece at length (with great passion) on another thread. Banks lost 60%. The EU/IMF/eurozone took over as the banks amd other creditrosmwould have nailed Greece to tje wall in afar worse way than they are suffering today. Also (vitally) a Greek default in 2010 would have lead to a run of Italy amd Spain and almost certainly the end of the euro back then.

IMO most of the profits booked on sub-prime etc in the “good years” are small compared to the losses in 2007 onwards.

@cody thanks for taking the time to out those views accross. I don’t agree with a lot of it but what I do agree with is that the Tories are looking to dominate the centre ground and that includes duplicating some Milliband proposals. Laboir/Corbyn felt Milliband wasn’t keft enough so he’s taken the party further left and the centre ground is wide open.

IMO one reason Eastern Europeans are prepared to do jobs Brits are not is they see them as temporary, they live simply (eg house sharing) amd send money home where the cost of living is much lower. Also they will work for low wages as they benefit from full year tax allowances and many just stay for short periods.

As Farrage said in the EU Parliament

you’ll forgive me for not setting much store by what that lying shit says when he does deign to turn up to his day job. 🙄

I don’t really get why you keep banging on about youth unemployment either. if you look at the figures germany and france’s numbers are very similar to ours, and ours are probably artificially low as you can’t be counted as unemployed if you don’t draw benefit, and it’s difficult for youngsters to draw benefit.
the countries that don’t don’t have good employment figures don’t have good youth employment numbers. not much of a mystery there? what is the point you are trying to make? or is it just another ‘as i’ve said many times, IMO’ thing you can trot out to point out that the EU doesn’t work?

The (mis)point is to confuse the EU and Euro Zone.

By design the only way that economies with high unit labour costs/low productivity can adjust in a fixed exchange rate system is through wage deflation and/or unemployment. We have merely seen theory being played out in practice

Nothing to do with EU a lot to do with EZ

IMO one reason Eastern Europeans are prepared to do jobs Brits are not is they see them as temporary, they live simply (eg house sharing) amd send money home where the cost of living is much lower

A very good reason why we should never have let cost of housing get so far out of control – it makes indigenous workers more expensive to employ as they need a much higher salary just to survive. I notice the anti-immigration, pro-high-house-prices Tories have forgotten to mention that…

Listening to some of the Brexiteers I work with grasping hold of random bits of data to prove they were right all along (who in theory are working in a strategy role, using data and facts to decide what direction we should go in 😯 ), I think this quote is particularly apt:

“Only stupid people don’t change their minds.” — Boutros Boutros-Ghali

The Dunning Kruger Effect is particularly relevant too

This is evident in Mrs. May’s rhetoric. Her Brexit speech, for instance, invited us to imagine the “Global Britain” that will somehow emerge once the country has left the European Union, its citizens “instinctively” looking, as she has claimed the British do, to expand their horizons beyond Europe and exploit opportunities across the world. This is simply a sanitized version of the dream of a British Empire in which every eastern and southern corner of the globe could be imagined as an Englishman’s rightful backyard, ready for him to stride into, whenever he so chose, to impose his will and make his fortune.

IMO one reason Eastern Europeans are prepared to do jobs Brits are not is they see them as temporary, they live simply (eg house sharing)

It’s almost as if you don’t know any young British workers; Do you think they all own their own house, and have what they consider to be permanent jobs?

Do you think the current batch of price rises (Apple Mac, Sonos, now Microsoft) are likely to make people change their mind more than all the arguing about big words? Poor exchange rate when you go on holiday over to Europe is going to make people’s ears prick up?

yourguitarhero – Member
Do you think the current batch of price rises (Apple Mac, Sonos, now Microsoft) are likely to make people change their mind more than all the arguing about big words? Poor exchange rate when you go on holiday over to Europe is going to make people’s ears prick up?

No

looking at the numbers a great many people who voted for brexit arent the type that have a multi room sonos setup- the old and poorly educated are more worried about their access to local services being destroyed (obviously brexit will fix none of that,no matter how much the vote leave brexiteer millionaires lie about it)

Do you think the current batch of price rises (Apple Mac, Sonos, now Microsoft) are likely to make people change their mind more than all the arguing about big words? Poor exchange rate when you go on holiday over to Europe is going to make people’s ears prick up?

Not a chance,

What will hit them is food and fuel, whether they link those to Brexit is a separate discussion. You can blame OPEC for fuel for example, which is valid, just OPEC cutting production AND Brexit will ramp fuel prices.

Pump prices over time

How high it goes is anyones guess.

From the DIT’s twitter feed:

UK gov welcomes EU vote to ratify #CETA trade deal with #Canada. We’ll help British business take advantage of the benefits this will bring

I’m sure there’s a suitable facepalm picture somewhere – ah here it is.

[url=https://flic.kr/p/RB7Ag1]facepalm[/url] by jamesanderson2010, on Flickr

UK gov welcomes EU vote to ratify #CETA trade deal with #Canada. We’ll help British business take advantage of the benefits this will bring

Really couldn’t make it up!

And if Brexit wasn’t bad enough, it also brings Blair back onto the political scene.

In his dreams…

…I think one over-faked tanned purveyor of untruths is quie enough to be going on with for now.

Plus he’s too late!

Getting ready for next GE.

Imagine the amount of work required to deal with 27 other countries separately..

Oh dear I don’t really want Blair on my side. My you he is ideally qualified for this post-truth era.

Trivial and quick for UK and Canada to mirror Canada / EU deal if we chose plus we’ll get whatever benefits may accrue in fhe next two years

Remainers must see how desperate their situation is when Tony Blair is the leading political figure champioing fheir cause. He’s certainly a person capable of uniting everyone, against him.

Tony your signature on the Lisbon Treay and EU expansion are two of the prime causes of Brexit. We rejected you in the strongest possible terms.

Imagine the amount of work required to deal with 27 other countries separately..

Most are not worth bothering with in economic terms and most certainly are not a priority. The EU is fixated about boasting about size, classic “never mind the quality feel the width” remarks. Banks used to makesimilar boasts about balance sheet size.

Remainers must see how desperate their situation is when Tony Blair is the leading political figure champioing fheir cause

That’s a disgraceful slur. Trying to manipulate opinions by associating them with an unpopular figure? Are you Donald bloody Trump or something?

I voted remain for my own reasons, I don’t give a flying shit what Blair thinks.

Have a word with yourself! Absoutely piss poor behaviour!

Most are not worth bothering with in economic terms

Even we only bothered with France, Germany, Spain, Italy, that’s still 4x the work.

jambalaya – Member – Block User – Quote
Trivial and quick for UK and Canada to mirror Canada / EU deal if we chose

I’ve just had an amazing idea for a quiz game show

“Jamba or Trump?”

Contestants are shown a series of quotes and they have to decide if they were uttered by Jambayala or Donald Trump

Whoever gets the most answers right gets their house repossessed and their pension slashed by 20%

Hmm that’s interesting.. question for those who know about pensions – maybe Jam if he can be trusted to give a proper answer:

If my pension is being invested in overseas funds, does that means it’s in foreign currency? Has the £ value of my pension pot gone up?

The high stock market should have made pension pots go up.

Yes

We rejected you in the strongest possible terms.

Maths not your strong suit then .
It was a result so close than even Farage accepted it would not be over – though of course he was assuming he lost that closely rather than won in the strongest possible terms- FFS that is just BS

You are right that having Blair on your side is not something anyone can be happy about that. That said look who you have on your side so we can at least take comfort form the fact we are not in agreement with racists, fascists and the far right unlike your good self.