Brexit thread - what happens next

Faustus · 22 Jul 2016 at 16:40

Skunkworks said:
8.5m+ leave voters have no financial stake in the UK?

Where does that figure come from?

Faustus · 22 Jul 2016 at 16:42

Stretch said:
It would be a mistake to hold one before the Labour party have got their house in order.

I think that ship has well and truly sailed.

Skunkworks · 22 Jul 2016 at 16:43

Faustus said:
Where does that figure come from?

He said a majority of leavers. There were 17.4m leave votes, so a majority will start at just over half.

Arazi · 22 Jul 2016 at 16:43

Billies Bangers said:
What really irks is that the majority of leavers had no financial stake in the UK economy according to the Ashcroft poll. What difference will it make to them therefore whether the economy goes breasts up or not?

How can it be right that a section of British society that had no financial stake in said society voted to take us out of the EU and land the country and possibly the world in a global recession which could lead to enormous social unrest.

The POLL makes striking reading.

By a Democratic vote, that's how, or should they have been excluded?

Faustus · 22 Jul 2016 at 16:46

Skunkworks said:
He said a majority of leavers. There were 17.4m leave votes, so a majority will start at just over half.

Who was your Maths teacher at school. You will have to drill down a bit more than that.

Skunkworks · 22 Jul 2016 at 16:47

Faustus said:
Who was your Maths teacher at school. You will have to drill down a bit more than that.

Feel free to explain.

Billies Bangers · 22 Jul 2016 at 16:51

Arazi said:
By a Democratic vote, that's how, or should they have been excluded?

One could make the argument on something as important as this that if you haven't got a stake in it then why would you have a vote in it?

I only get to vote at shareholder meetings in companies that I have shares in - seems a reasonable argument. If I have no financial interest in UK PLC then should I have a vote determining it's future financial viability?

Faustus · 22 Jul 2016 at 16:52

Skunkworks said:
Feel free to explain.

It wasn't me that plucked nothing from nothing it was you?

Skunkworks · 22 Jul 2016 at 16:55

Faustus said:
It wasn't me that plucked nothing from nothing it was you?

Follow the quote chain. I really can't put it simpler than:

Skunkworks said:
He said a majority of leavers. There were 17.4m leave votes, so a majority will start at just over half.

n111ck · 22 Jul 2016 at 16:57

Arazi said:
By a Democratic vote, that's how, or should they have been excluded?

Exactly - he clearly doesn't realise that attitudes like his are the precisely the reason a lot of people voted to leave. Some people never learn.

scorza · 22 Jul 2016 at 17:03

Head of IMF, Christine Lagarde, who was a fairly vocal critic of Brexit to face trial for something or other.

Nate--IRL-- · 22 Jul 2016 at 17:05

scorza said:
Head of IMF, Christine Lagarde, who was a fairly vocal critic of Brexit to face trial for something or other.

Why is this relevant?

Nate

dlite · 22 Jul 2016 at 17:06

Nate--IRL-- said:
Is this the first actual hard economic data since Brexit?

FTSE250 is down by ~10% measured in other currencies than GBP. This basically tells us that global markets as a whole have adjusted their valuation for risk-corrected profit expectations of british businesses down by about 10%.

datalol-jack · 22 Jul 2016 at 17:13

Nate--IRL-- said:
Why is this relevant?

Nate

Meh. It's like asking an astrologer to advance astrophysics: In scorza's world everything is relevant to everything else; the patterns; the glow; the tinfoil. It's his cack-handed attempt at a character assassination to undermine the institution she represents. Or how he stopped worrying and started going on tangents.

Schlong&Stable · 22 Jul 2016 at 17:16

The current economic news shouldn't come as a surprise to anyone, I think we all expected economic shock as a result of Brexit. But I'd actually say that things have (touch wood) been better than I expected so far. I was reading estimates of Sterling dropping 30% before the vote, but right now it's more like 10%.

I suspect the economy will be rough for the next few years, but once we're out of the EU and start to benefit from free trade with other countries, I could see things improving a lot.

Mr Badger · 22 Jul 2016 at 17:21

Thompson_NCL said:
I suspect the economy will be rough for the next few years, but once we're out of the EU and start to benefit from free trade with other countries, I could see things improving a lot.

Yes, we will finally be able to get the unlimited supplies of cheaply produced goods from India and China that our economy clearly needs.

dalehitchy1 · 22 Jul 2016 at 17:24

Thompson_NCL said:
The current economic news shouldn't come as a surprise to anyone, I think we all expected economic shock as a result of Brexit. But I'd actually say that things have (touch wood) been better than I expected so far. I was reading estimates of Sterling dropping 30% before the vote, but right now it's more like 10%.

I suspect the economy will be rough for the next few years, but once we're out of the EU and start to benefit from free trade with other countries, I could see things improving a lot.

so can you please tell me when Kenya, Mongolia and Ecuador will buy our expensive products or need our financial services?

Or do you mean the countries we already had trade deals with (that were inside the EU and out)... that will be less favourable now out of a big trading block

Sorry..... but your deluded to think things will improve a lot.... especially not in the next 20 so years

datalol-jack · 22 Jul 2016 at 17:47

dalehitchy1 said:
so can you please tell me when Kenya, Mongolia and Ecuador will buy our expensive products or need our financial services?

Or do you mean the countries we already had trade deals with (that were inside the EU and out)... that will be less favourable now out of a big trading block

Sorry..... but your deluded to think things will improve a lot.... especially not in the next 20 so years

Building up other countries through goods trade has traction with some experts still. But you raise an important point: how long do we have to wait for us to benefit? Will said countries, mostly in a less regulated context, grow faster or slower than via EU redistributive mechanisms and single market? Would the worse economic outlook, reorganisation and brain drain leave our services competitive for that long? Are there any other nations that have our competitive advantages at the same level of post-industrial development? What are the legal and other non-tariffs barriers, and how will they evolve over time? What instead of developing our target trading partners we merely siphon profits into large global players who have little interest in our future plans as a country, or pay that much tax here?

Dreams are great. Particularly when you don't need to pay for them. Talk of backseat drivers, lol.

do_ron_ron · 22 Jul 2016 at 18:47

scorza said:
Head of IMF, Christine Lagarde, who was a fairly vocal critic of Brexit to face trial for something or other.

Old story, been an investigation for a while, even before she was given the IMF job. But hey it is an excuse to add a pro Brexit angle.

scorza · 22 Jul 2016 at 19:30

do_ron_ron said:
Old story, been an investigation for a while, even before she was given the IMF job. But hey it is an excuse to add a pro Brexit angle.

Not an old story, it literally happened 5 hours ago.