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

I am very interested in the GFC - how it was handled. You just need to look at Australia and how it more or less sailed through the GFC on the back on a large surplus, and on the flip side look at the damage it did to UK and Europe. Places that had no surplus to provide the buffer.

You can't ignore the GFC, wipe it under the carpet, just because it doesn't suit your political allegiances.

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

Hmm, I am merely addressing the myth that only right wingers in the UK (not Australia - have a look at the thread title) can be trusted with the economy. The record in the UK over the last 40 years when both have shared power shows it is a myth to hold this belief. Repeat, which part of 2.6% of GDP vs 2.9% of GDP can't you accept?

I am not ignoring the GFC - Labour has only been in power for 1 year since it kicked in, that's all I said - it doesn't change their 2.6%!!!!

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

I get it. But 2.6 and 2.9 is 0.3 and it means shit and its just a figure over a period which means shit in the grand scheme of things and used to stick up for school teachers and failed tennis players.

The big question is have you been happier under and a cons government while europe is falling down around you or a Lab while time are good.

Answer is simple.

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

No it is a figure which disproves the faith you have. And it is a faith. It's an analogy mentioned yesterday; it's like someone who claims all swans are white and when some black ones turn up they claim they've been painted or even worse claim they're white. I'll ignore the rest and treat it with the contempt it deserves.

I'll quote from the Times editorial of yesterday which seems very appropriate for yourself. (Speaking of the leavers Johnson, Leadsom, Davis and Fox who have been given the ministerial positions to clean up the mess they created) - "it is the height of intellectual arrogance to take up a position which cannot be wrong. A proposition that cannot be false is not a real argument; it is faith".

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

Peter Brooke in The Times. :rofl:

http://i.imgur.com/6jSCjra.jpg

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

UK is very keen on an FTA with Australia.

They want cheap iron ore and coal.

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

Isn't selling iron ore and coal been the reason Australia's economy has been so good...until the Chinese didn't buy anymore.
Finding a new buyer imo would be a good idea.

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

Coal power generation has fallen away - replaced with the 'rush to gas'. There are a few such power stations left, and they are due to close.

Iron ore would presuppose a steel making industry, and what with them closing Port Talbot, I wouldn't be assuming that.

I think you'll find a FTA is much more about selling into.

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

Also, one very small, minor point the Brexiters failed to mention (more likely know) is that under EU rules a member cannot negotiate new trade deals outside the single market. i.e. until Article 50 is triggered and the exit process completed new trade deals will have to wait. If Britain presses on and sets up new trade agreements one would assume that the EU will be less likely to give favourable exit terms.

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

Well, the EU would like to push that. However, the more trade deals the UK sorts out, without pressing the button on Article 50, the less clout the EU has with negotiations. Rules is nice, but they only work if people care about membership.

To the extent that the EU might well have to swallow it's pride and agree those exit terms sooner rather than later.

The thought that I had before, if the UK actually had a decent leader, is that setting up a free trade zone encompassing the commonwealth, interesting nonaligned parties, and anyone in Europe not too enamoured of 'ever closer union', could end up being big enough to set terms of its own. Sooner or later those PIGS are going to have to jump ship...

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

China has never stopped buying IR - in fact record amounts of the stuff is being shipped out of the Pilbara

Not sure of the figures for coal but it would be similar

What changed was the pricing dynamic - the power has shifted from the seller to the buyer

One of the biggest myths about the Australian economy is the idea of a 'mining boom'. There never was one. We just inevitably moved from a construction to a production phase - as usual governments and industry never planned for this shift properly

The super-cycle is still very much in play

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

Don't you need both iron ore and coal to make steel?

(Steel is usually an alloy of iron and carbon.)

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

Not coal and IR but we can, and should, supply them with LNG. If you can ship a cargo of frozen lamb from Fremantle to Tilbury, you can ship a cargo of frozen gas

We should ship the frozen lamb too

If the UK does a FTA with Australia and NZ they should also go for the free movement of people between these countries

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

Yep

There are 2 types of coal:
Thermal coal which is used in power stations (most common)
Coking coal which is used to make steel

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

yeah as if the Brit backpackers in Bondi are not enough :lol: