Re: Did the UK do the right thing in voting to leave the E.U.
 

And in latest developments:

£1.5 trillion decline in household wealth post Brexit and 1% of Brits own 24% of the wealth and across the world the richest 1% own more than the other 99% put together!

https://www.theguardian.com/business...-credit-suisse

The EU court could rule over Brexit terms top judge warns:

Brexit deal could end up in EU's top court, warns Europe's most senior judge

Despite the claim from May that 'Brexit means Brexit' she's hinted yesterday that it will be a soft Brexit and take longer than originally expected:

What is the difference between a 'Hard' and 'Soft' Brexit?

"little is known about what Brexit will look like." Couldn't this have been found out before people voted on it???

Re: Did the UK do the right thing in voting to leave the E.U.
 

United Kingdom finance minister Philip Hammond has warned that high debt has tied the government's hands, in a time when the country needs a "watertight" economy to cope with years of "uncertainty" that lie ahead. His comments come amid reports that the United Kingdom is facing a projected £100bn "black hole" in its finances due to the United Kingdom vote to leave the European Union.
Diario Catolico British Chancellor gives clues about Britain's Brexit economy

Re: Did the UK do the right thing in voting to leave the E.U.
 

..... and the very reason the Guardian is a laughable magazine catering for the gullible left.

Firstly the FTSE is up since Brexit.

Secondly the soundbite ... wealth is down on exchange rate. Yeah for most Brits that doesn't matter.

The best part though, 1% hold 24% of wealth. Yep and 2% contribute 26% of tax or something along this lines.

So what shall it be for you teachers? You seem to want it all without understanding who pays your salary.

Re: Did the UK do the right thing in voting to leave the E.U.
 

Yes. Using exchange rates to define loss/gain of wealth in a 1st world western country is pathetic and demonstrates economic illiteracy

Re: Did the UK do the right thing in voting to leave the E.U.
 

The Guardian was reporting on a report by Credit Suisse. Are you claiming the Guardian is misquoting the report or are you claiming Credit Suisse is wrong? i.e. your usual nonsense that if something is reported in a paper which doesn't reflect your views it can't be right.

The figures quoted for the 1% are AFTER they've paid their tax. We all know about tax avoidance - just look at your darling Trump and tell me how much tax he's paid on his income in the last 15 years. For Trump in the US read the likes of Green in the UK.

Wealth includes FTSE holdings and the decline in wealth takes account of any increase in the value of shareholdings.

Where teachers salaries came from heaven knows. You don't seem to understand how someone can look at society as a whole without making it about me, me, me. :confused:

Re: Did the UK do the right thing in voting to leave the E.U.
 

Indeed. But it means the Guardian has something to keep the declining numbers of left wingers interested.

I noticed the Guardian failed to mention Japan's increase in wealth. All based on the value of the Yen of course.

At the end of the day its an article about exchange rates, but they flog it as a "household wealth" article and sucked in Oz T.

Re: Did the UK do the right thing in voting to leave the E.U.
 

Newsflash - Japan did not Brexit. The report was reporting on the effects of Brexit. You and your pal want to say the exchange rate fall caused the decline in wealth - erm, the exchange rate fall was a direct result of Brexit.

To accuse or agree that one of the world's most eminent banks' research department is guilty of economic illiteracy is frankly nonsense although I suspect it is because it was reported in the Guardian that was latched onto - don't shoot the messenger and all that.

Put the report in the correct context, it was reporting on worldwide wealth and obviously with more than one country involved it has to be measured in the same currency. The greenback is the currency most often used and because of the decline in the pound against the dollar caused by Brexit you get the findings reported. Simple.

Today Philip Hammond delivered his autumn statement. Check the facts in the Telegraph, Guardian or whatever:

Hammond revealed a post Brexit 'black hole' and said that government borrowing will be £122 bn bigger than planned;

Expected growth in 2017 has been revised downwards to 1.4%.

These charts are in the appendices to Hammond's report and not invented by The Guardian:

http://i.imgur.com/Ec3EYOd.png

For those who need their economics in colours, the blue bars are the effects of Brexit - the largest of all the effects on the upwards revised PSNB position.

http://i.imgur.com/FPE2HOo.jpg

Re: Did the UK do the right thing in voting to leave the E.U.
 

Exactly the point. The report mentions Japan, the Guardian chose to omit and instead creatively the term "household" in the article title to scare the narrow minds.

Get the jist?

Re: Did the UK do the right thing in voting to leave the E.U.
 

No, I don't think most of us do. Unfortunately the thinking pattern of a Daily Mail regular is not conducive to forming proper, logical arguments.

I bet you think Iceland never suffered a crisis in 2007-08, and on the home front all that uproar in the UK about George Soros back in 1992 was just an absurd, hysterical over-reaction by the Guardian and all those lefties cranking up false propaganda to brainwash those who didn't know any better. ;)

Re: Did the UK do the right thing in voting to leave the E.U.
 

So are you feeling the effects of low household income? Simple question that needs answering.

Re: Did the UK do the right thing in voting to leave the E.U.
 

No, the Guardian is a British newspaper. I dare say the Tokyo Nippon Tribune would pick up on what you latch onto. The Tory press such as Express, Mail etc will make a front page out of half a dozen refugees trying to cross the English Channel in a raft with the claim that this is why we need to Brexit.

Today the Brexiter MP's and Eurosceptics are accusing the Office of Budget Responsibility of 'doom and gloom' in their predictions - i.e. they don't like what was predicted so they want a different slant on it which is akin to a hurricane on the way and asking the weatherman to say it will be calm and sunny.

Re: Did the UK do the right thing in voting to leave the E.U.
 

Akin to blaming Tories on Brexit hey? You see, you lefties will try anything.

Re: Did the UK do the right thing in voting to leave the E.U.
 

No, as events are showing there is more to Brexit than supposedly getting control over certain races and religions entering the country and the effects are more far reaching. I wonder why Nigel, Michael, Boris and co didn't spell out exactly what was involved? The answer is purely and simply because they didn't know what was entailed and even if they did they wouldn't say so because fewer people would have voted for their proposal.

What's done is done but now that the proverbial is hitting the fan and negotiations are going to be protracted and difficult it behoves some to put their hand up and say maybe we didn't know what we were voting for exactly (but I know you won't although perhaps you didn't vote in Sydney?), It also needs some ostriches to take their head out of the sand and admit that government revenues could be well down, the pound could stay low for a long time and the economy is not going to grow as fast as it otherwise would have. We've also got the mess of a possible independence referendum 2.

Btw The Guardian is reporting SA 9/252 is that to cater for left wingers?

Re: Did the UK do the right thing in voting to leave the E.U.
 

You said it. What's done is done. If those who would have voted the same way we did, and couldn't be arsed, or thought it wouldn't happen, then tough titties, we move on.

No real evidence of issues yet. The pound has taken a hammering on speculation but for exports, this is good. And most of what the UK produces, services, is exportable.

Are you still blaming Tories or have you buried that comment?

Re: Did the UK do the right thing in voting to leave the E.U.
 

'All my life's a circle' (your theme song by the New Seekers).

Why would I blame Tory MP's for Brexit? The majority of them were for Remain (see below for source and it's not from the Guardian). Cameron made the big mistake in trying to quell the Eurosceptic MP's in his party (a vocal minority) in calling a referendum with a simple yes or no and no detail on how it would happen should there happen to be a leave vote. He didn't expect it, the polls didn't expect it but it happened and he promptly slinked off. He thought he'd shut them up for a generation at least.

'No real evidence of issues yet'. You have got to be joking. Read Philip Hammond's autumn statement in depth for goodness sake - are you saying he and the OBR are wrong in expecting a black hole in finances and a major slowdown in growth and if so where's your evidence other than blind faith in the 'right' cause. The prediction is that the government coffers will be £122 bill lighter on because of Brexit.

Europe. How Conservative MPs break down. Final Remain estimate – 185 Tory MPs, 91 on the payroll, 94 not. | Conservative Home (185 confirmed Remain; 128 Leave).