And next week we can expect the proposal for a Independence Referendum Bill in the Scottish Parliament.
Randy : I don't like the Scots to start with and they can go screw themselves or their filthy sheep.
And next week we can expect the proposal for a Independence Referendum Bill in the Scottish Parliament.
Randy : I don't like the Scots to start with and they can go screw themselves or their filthy sheep.
Congratulations America
Interesting to see Rand dropping the last element of his liberal ideology. Now the markets are wrong and need to be sorted out, presumably by the government.
Hope is the denial of reality
Why on Earth would the government need to get involved? The market is working as it should freely already without any government interference.Originally Posted by Loki
The idea a product both made and sold in the UK using British ingredients needs a 10% cost increase due to currency changes is a nonsense and their former Director who ran the company until 2014 and now runs their biggest customer in Tesco's knows that and called their bluff. Now they will negotiate and a more reasonable compromise will be reached. Without any government interference whatsoever.
I bet you there won't be 10% increases though in the end as it's simply unnecessary.
It's the Welsh who shaggy sheep, get your prejudices straight. The Scots can go drink themselves into a whiskey induced stupor and fight each other in Glasgow.
Politically it makes sense for Scotland to be independent as I have said for nearly a decade here since it first arose. Economically it now longer makes sense post Brexit.
Well, we'll never know what kind of agreement they reached. But since Unilever does publish its company results in Euro, I don't think it's such an easy task as you make it out to be.
When the stars threw down their spears
And watered heaven with their tears:
Did he smile his work to see?
Did he who made the lamb make thee?
What I find extremely amusing is how Brexiteers seem to be making this turn where they're about to claim that their dream for Brexit always was a huge reboot for the British economy; away from finance and services and back to production. Of course to believe that you have also got to believe that they always wanted a poorer country from the get-go.
Congratulations America
So the dispute between the UK's largest food manufacturer and the UK's largest supermarket has been resolved in under 24 hours. No government intervention necessary or desired. Markets working as intended.
I always said once convinced that Brexit made sense that boosting other areas was necessary. Living in the North West I've never claimed or believed that the interests of one city trumps the rest of the country including my corner of it. However I wish no ill on finance and expect London to remain a world leader in finance.
Meanwhile, the pound has hit a 168 year low. Good going, Rand. Still trying to sell the idea that those are just "fluctuations"?
When the stars threw down their spears
And watered heaven with their tears:
Did he smile his work to see?
Did he who made the lamb make thee?
A piece in the Telegraph about the way S&P sees the risks of Brexit and on how it seems the Brits are fundamentally misreading the situation.
S&P appearantly thinks it possible that Brexit could cost the Pound its reserve currency status.“There seems to be this view that ‘we’re a big important economy, the Europeans export a lot to us, so they have got to give us what we want’, but is that really true?" said Ravi Bhatia, the director of sovereign ratings in charge of Britain.
"Individually most of these countries don’t export that much to the UK, and were seeing a hardening of attitudes,” he said.
Just experts of course so it's probably just remoaner pleasing babble, because after all Brexit is Brilliant.
Congratulations America
I don't think the government has any illusions about the situation.
Obviously, in public they have to be all 'no, it'll be great because europe will give us a great deal because trade deficits are magic and bmw dictates the foreign policy of the federal german republic', but I think it's clear from the things they've been saying and doing recently that they understand that damage limitation is the best we can hope for.
The light that once I thought compassion still casting shadows in your action
The words you shared were cold transactions that bring me to curse what you've done
When you're up there absorbed in greatness with such success you've grown complacent
I hope you scorch your many faces when you fly too close to the sun
I didn't realize companies had to justify their price increases. Maybe we should have a ministry in charge of making sure those justifications meet your standards before the price increase is allowed.
Hope is the denial of reality
They had to be able to justify it to their partner, the retailer.
"One day, we shall die. All the other days, we shall live."
Retailers accept higher costs than they can't replace you as a supplier, not when you're unable to provide a justification for your price increases.
Hope is the denial of reality
I can understand talking things up (though at times people like Johnson should consider to dial back the crazy I think). What I don't understand is that a part of the media seems to have no other idea than to cheer away the clear and obvious damage to the economy.
Congratulations America
Have you seen the size of our current account deficit? Sterling is still too high. It should be no higher than about $1.10 so it is still overvalued.
What kind of business do you work in? If a supplier wanted to jack up my prices by 10% you can guarantee I'd ask them why. As it happens Unilever have caved in as their profiteering was too blatant.
I don't get why you think Tesco need a ministry involved to challenge the reason behind domestically manufactured products going up by 10%. Turns out as they knew there was no reason so it won't be happening. Free market in action.
Unilever caved in? What do you know that we don't? Were you present when they struck a deal? For all we know Unilever and Tesco agreed on keeping prices the same while reducing package size. A technique used regularly in countries where incomes are lower.
Congratulations America
Oh good, now it's marketed as "The value was too high, anyway!"
When the stars threw down their spears
And watered heaven with their tears:
Did he smile his work to see?
Did he who made the lamb make thee?
Basic economics, our current account deficit at 6% of GDP is not good. A freely floating exchange rate will cut imports and boost exports so narrowing our deficit.
You keep repeating that but you are missing the point that in order for your country to start exporting more it needs to actually produce more. And it's not exactly like your central bank can do much to fan investments.
The only given from the present devaluation is that you are getting poorer, the recovery from it is very much pie in the sky. Especially if you want to bring it about when the message you want to give to the rest of the world that you are open for business. Because that means competing with the likes of China and India
.
Congratulations America
If it is more profitable for us to produce more we can do so. It isn't like we don't produce anything.
As for richer or poorer we are the fastest growing G7 nation this year despite predictions for an immediate Brexit vote recession. I expect we will defy expectations and be the fastest growing European G7 nation at least next year too.
There is a much bigger chance that your economy will be shrinking, and not just next year but over the next decade. For the simple reason that you are narrowing the basis of the financial and services industries, without being able in the short or medium term to make up for that in manufacturing. Nobody is claiming that you aren't producing anything, but the reality is that you are producing too little and with too little spare capacity to have manufacturing fill the holes services and finance leave behind.
Congratulations America
We will see. I obviously disagree.
Finance and services aren't going away either. We can also export more services and finance not just manufactured goods.
Good luck doing that without access to the EU market.
When the stars threw down their spears
And watered heaven with their tears:
Did he smile his work to see?
Did he who made the lamb make thee?
You do realise 93% of the globe and most of our exports are outside the Single Market don't you?
Ultimately we can't control the EU and vice versa but reaching a deal is in the best interest of all parties.
The calls of hard or soft Brexit are silly. The country voted for what is now being termed a hard Brexit and that is the only plausible outcome. No ECJ, no contributions to the EU budget and control of immigration is what was voted for.
A free trade deal between the UK and the EU is in the best interests of both groups. I hope European leaders sign a deal that is in their own interests but it's of course possible that politics can get in the way.
Since we won't be members of the EU there is no need to have eg free movement. But that is meant to be a benefit not a cost of EU membership (and I saw it that way) and if we have voted collectively to lose a benefit so be it. Unless you view it as a cost. There's no reason to make everyone poorer by putting up trade barriers though.
Never heard of asymmetrical interests?
Hope is the denial of reality
That's certainly one interpretation.
There's a man goin' 'round, takin' names
And he decides who to free and who to blame
Incidentally, how quickly Rand gives up on the concept of parliamentary supremacy.
Hope is the denial of reality
You have another?
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