So the latest news is that Sterling's devaluation has helped the UK economy to bounce back after Brexit, well would you believe it and there was I thinking that this was simple first year economics. So how come the pundits who forecast doom and a Sterling devaluation did not factor this into their predictions?
More importantly how come the EU central bank seem to think that the Euro is excluded from this simple rule as they increase the straight jacket on the weaker economies of southern Europe?
If the EU ditched the Euro I predict that their individual economies would also see a major benefit, trouble is the weaker ones would enjoy a much healthier bounce than Germany, and of course that would never do.
Trying to blame the devaluation of the pound on Brexit is an interesting one.
The UK joined the EU in 1973. Two years later we went to live in Germany when the pound was trading at DM8.50. We were in Germany for 15 years and when we left the pound had dropped to DM4.25. Devaluation of the pound is nothing new, even when we were well entrenched in the EU.
There have always been fluctuations in the value of the pound, usually down so this is nothing new. So why were the economists predicting doom and gloom on exchange rates when it had been happening for a long time?
Trying to blame the devaluation of the pound on Brexit is an interesting one.
The UK joined the EU in 1973. Two years later we went to live in Germany when the pound was trading at DM8.50. We were in Germany for 15 years and when we left the pound had dropped to DM4.25. Devaluation of the pound is nothing new, even when we were well entrenched in the EU.
There have always been fluctuations in the value of the pound, usually down so this is nothing new. So why were the economists predicting doom and gloom on exchange rates when it had been happening for a long time?
To bolster their argument that Brexit would be disastrous?
Who knows, it might work out to be disastrous, but the world's economy is going down the pan anyway, Brexit or no Brexit
Currency fluctuations are simply based on a bunch of gamblers guessing what's going to happen in the future. And a lot of the guesses have been wrong so far
Who knows what would have happened if all the baby boomers had voted 'Out' instead of 'Stay' back in 1975. Perhaps some felt they had been lied to about the Treaty or Rome and its full implications and were trying to correct their previous error - as they say "fool me once shame on you, fool me twice shame on me"!
As Jean Monnet one of the founding fathers of the EU said: "Europe's nations should be guided towards the superstate without their people understanding what is happening. This can be accomplished by successive steps, each described as having an economic purpose, but which will eventually and irreversibly lead to federation."
Interesting observation Jill and one I had not heard of before. I voted in 1975 because I believed then, and still do believe in a 'Common Market' which was how it was presented. However I did not vote for a federation which is clearly the underlying ambition of the EU if Jean Monnet is to be believed,
Did anybody else see the delirious Eddie Izzard leading the Remain demonstration yesterday. Some people have too much time on their hands to express their neurotic fanaticism. Personally I am getting fed up being told what I should and should not do by left wing so-called celebrities like Izzard, Geldof, Redgrave & Co.
On a cruise related note there is a report in the weekends papers about a Tory Dame pro EU guest speaker on Cunard upsetting the predominantly Brexit supporting passengers with her views on how the Lords planned to veto Brexit.
Saw that too Towny. Made me smile. But bad mistake by Cunard in their choice of speaker. Not sure I want to be lectured on politics of any flavour on holiday .
As some one said - we are not even in the woods yet, yet alone coming out!!
After some of the scaremongering from the Remain party we shall see what we shall see. For sure, if anybody does pull out of the UK there will be plenty wanting to take their place in a free and open world market.
So how do you see the announcement from Japan and the reiteration from the USA?
As some one said - we are not even in the woods yet, yet alone coming out!!
I see it as politicians in other countries trying to interfere in democracy here.
As I see it the answer to the EU posturing about the UK not being allowed to "cherry pick" the bits of the EU we want, is that if the EU still wants tariff free access to its largest export market, the UK, then it will need to give up some of its sacred cows to achieve it.
As for Obama's silly remarks about a UK free trade agreement still being at the back of the queue, I would respectfully point out that by mid January he will be yesterday's man, and its by no means certain that his party will hold majorities in the house or senate, even if Hilary is president.
Radio 5 were broadcasting a 'Brexit across the UK' special this morning with Nicky Campbell.
Much to the dismay of the BBC (Biased Broadcasting Corporation) the vast majority of folk interviewed said that they were pretty optimistic about our future outside of the EU.
Even in London, most were positive.
Probably not what they were hoping for.
The Guardian readers however, are still in denial.
One columnist in yesterday's paper said it is the worst thing that has EVER happened to this country, including the 1066 Norman invasion
I was also happy to see that the anti-democracy rally in London on Saturday barely got a mention in the main stream media, despite the attendance of a few deluded celebrities.
Eddie Izzard had his pink beret nicked
Meanwhile, back in the real world !
We are expecting Operation Stack to start again today, however, the majority in Kent are in full support of the French truck drivers blockade.
I don't know if reported much in the national press, but Calais has got really bad now.
Sorry you're going to be blighted by Operation Stack again but I can understand why you would support the blockade.
We are members of Holiday Property Bond, which has some excellent properties in France, and a friend has a cottage in Normandy, but at the moment we are put off going and, if we do go, certainly won't go within a hundred miles of Calais. Will either use one of the more westerly ports or more likely fly and hire a car there.
And to add why do Izzard and co. think they have a right to overturn the referendum result? A colleague of mine claims the vote was undemocratic because 30% didn't vote. Well it's their own damned stupid fault! They had the chance to vote and didn't do so, so can't moan if they don't like the result. That is how democracy works!
I eventually decided to vote ' out ' but for a while I deffo intended to vote to remain, my main concern at that time being that the Japanese Car Manufacturers could head off to mainland Europe. It will take some astute wheeling and dealing with plenty of concessions to keep future models of Toyota & Chums based over here in the UK.
TIs also most unlike the Japanese to declare their ' negotiating position ' from the rooftops, odd that.
With this morning's news that Oz is very keen to negotiate a trade deal with us it seems very much swings and roundabouts at the moment.
But I'm very clear. I voted out because I didn't like being ruled from Brussels and Berlin. I certainly don't want to be ruled by Tokyo so their negotiating position/threats don't impress me.
I see that "Theresa May has rejected a points-based system for controlling EU migration, one of the key promisesof Leave campaigners during the referendum... Ex-UKIP leader Nigel Farage said many people had voted Leave for the policy, backed by Boris Johnson among others"
I wasn't aware that a points-based immigration policy was a key promise - I personally think it's a good idea, but it's the first I've heard of it being a key promise. Maybe I was asleep that day?
... I certainly don't want to be ruled by Tokyo so their negotiating position/threats don't impress me.
Isn't that just typical of a ex BBC employee on a final pension scheme ...
The 140,000 people who are presently employed by the UK based Japanese companies will doubtless have a different view to that of your own. Very uncertain times for them, I would imagine.
I see that "Theresa May has rejected a points-based system for controlling EU migration, one of the key promisesof Leave campaigners during the referendum... Ex-UKIP leader Nigel Farage said many people had voted Leave for the policy, backed by Boris Johnson among others"
I wasn't aware that a points-based immigration policy was a key promise - I personally think it's a good idea, but it's the first I've heard of it being a key promise. Maybe I was asleep that day?
I missed it as a promise too. The promise was to reduce immigration, not the mechanism.
I really do recommend a visit to The Guardian online if you want to cheer yourself up.
Everyday it runs an anti democracy/ no brexit story but the genius is the public comments at the end of the piece.
Some are in genuine meltdown about the result and are still totally in denial.
They speak about the EU as if it's some magical, mystical place where everything is rosy in the garden.
They seem to have missed the severe austerity imposed on southern Med countries, mass unemployment, a total failure of the immigration policy and the fact that the Euro is in crisis.
Parliament should vote on it, they scream.
They overlook the point that MPs have already had two bites of the cherry.
MPs voted 6 to 1 for the Referendum in the first place, obviously on the assumption that they would win it.
Then they had their individual vote in the referendum itself.
How many more goes do they want?
I know that we've got our own problems, but you should ask yourself why over 3 million EU citizens are living and working in the UK.
Why, because it's better.
It's better because we didn't adopt the Euro.
It's better because we didn't adopt Schengen.
We now have a once in a lifetime opportunity to rid ourselves of the failed dictatorship of the EU (Germany) and they can't see the wood for then trees.
I ask a Remain friend of mine why he thought the EU was so great.
The expected answers were trade, travel etc. and he was full of EU virtues.
So I ask, if it's so great, shall we not leave but integrate 100%, with no concessions.
In Shengen?
In the Euro?
No rebate?
No, he didn't want that, as expected.
I'd prefer that we invoke article 50 only when we are ready to.
When we have our house in order and only then.
We should be in control and if they don't like it, well, tough.
Many of the Eastern Europeans who work with the Lady C want border controls imposed on this country (they're afraid newcomers will take their jobs!!).
We need incentives (ie a thorough review of the over-generous benefits system in a downwards direction - PLUS availability of affordable housing, and a change of mindset in schools to teach discipline and respect for self and others) to get menial jobs filled by indigenous people, which would also reduce our welfare benefits budget and make it less attractive for foreign scroungers to come here. Streets will always need cleaning. Hair will always need cutting. There's been too much emphasis on academic achievement, ignoring the fact that many youngsters are simply not academically minded but would flourish with proper vocational training. We should be stating clearly that, unless you have a job to come to, you cannot move to this country unless you are financially self-sufficient. We should be saying to travellers that they must have adequate health insurance in place before coming to our hospitals.
Barney's friend doesn't seem to realise that trade with, and travel to, the Eurozone is achieved by other countries outside the EU and therefore we can do so as well once we've regained our sovereignty.
(Can we also go back to selling petrol by the gallon, please?)
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