Economy watch

Not the right place for this I know but an interesting video and at least relevant in terms of current affairs. WGO would define this as tree-hugging no doubt, but not every poster on here is as limited as him.

It's only 2 minutes so watch it and see what you think.

https://www.theguardian.com/commentisfree/video/2016/oct/05/akala-the-propaganda-of-british-values-is-a-distortion-of-history-video

Sorry. Just asked a question and then found the answer myself.

Hundreds of years of Parliamentary democracy and we still don't know our arse from our elbow

NickFazer wrote:Hundreds of years of Parliamentary democracy and we still don't know our arse from our elbow  

Bit of a joke PMQ's today.
Either they asked the wrong question in the referendum or it really hasn't been thought through. Or both.

You would have thought that the legality and procedure would have been investigated before they called the referendum at the very least. Mr Cameron I'm afraid is going to go down as the biggest Muppet in British political history, no point checking anything as we won't win the election or get a majority and even if we do we can't possibly lose.

With the early signs of inflation coming through i.e. FTSE rising as the markets bet on UK prices rising  due to a weak pound and the first signs of manufacturers creaking, Mark Carney has finally given the warning that prices are going to go up a lot faster than wages and the poorer people in society are most likely to suffer. Obviously it is early days but if Carney had said this before the referendum, it would have been classified as "Project Fear" but hopefully Britain is finally starting to wake up to the economic realities of what we've voted for despite the warnings.

Carney statement

With over 50% of what we eat being imported, it's inevitable that prices will rise, but hopefully Carney won't let inflation get out of control - however in doing so let's hope there isn't too much unemployment caused. Presumably there will always be a place for working age Brits to "get on their bikes" (yes - we're going there again!) and pick cabbages in Lincolnshire when immigration is curbed so no need to worry. But I can't help thinking what a disaster is looming for poorer families, especially with the Government seeking to cut in-work benefits.

NickFazer wrote:You would have thought that the legality and procedure would have been investigated before they called the referendum at the very least. 

But it was thoroughly investigated by everyone who has an interest in economics and global trade and almost to a man/woman said that leaving the EU will set the UK back decades - but they were dismissed as cranks by people who hadn't got a f****** clue. 

Cameron knew full well what a crock of shit was waiting - he just didn't believe that people would be daft enough to vote for poverty far worse than the austerity measures that were in place. 

He gambled and lost.

wanderlust wrote:With the early signs of inflation coming through i.e. FTSE rising as the markets bet on UK prices rising  due to a weak pound and the first signs of manufacturers creaking, Mark Carney has finally given the warning that prices are going to go up a lot faster than wages and the poorer people in society are most likely to suffer. Obviously it is early days but if Carney had said this before the referendum, it would have been classified as "Project Fear" but hopefully Britain is finally starting to wake up to the economic realities of what we've voted for despite the warnings.

Carney statement

With over 50% of what we eat being imported, it's inevitable that prices will rise, but hopefully Carney won't let inflation get out of control - however in doing so let's hope there isn't too much unemployment caused. Presumably there will always be a place for working age Brits to "get on their bikes" (yes - we're going there again!) and pick cabbages in Lincolnshire when immigration is curbed so no need to worry. But I can't help thinking what a disaster is looming for poorer families, especially with the Government seeking to cut in-work benefits.

I couldnt agree more with what you said. I also read that article earlier on and although having read many such articles in the past this one affected my feelings a lot. Because, I just had this feeling or thought that I was fed up of the poor constantly taking the brunt of everything. Decade after decade this has been happening, poor people always get hurt. What on earth do these people do that run the economy because it is never run right. People are sick of constant poverty and recession. Also every year we hear the stats about the rich got richer and the poor got poorer. There is, as they  say, an underclass now in the UK. I have been reading a lot about the French Revolution lately, and I would say that the song remains the same.

wanderlust wrote:

NickFazer wrote:You would have thought that the legality and procedure would have been investigated before they called the referendum at the very least. 

But it was thoroughly investigated by everyone who has an interest in economics and global trade and almost to a man/woman said that leaving the EU will set the UK back decades - but they were dismissed as cranks by people who hadn't got a f****** clue. 

Cameron knew full well what a crock of shit was waiting - he just didn't believe that people would be daft enough to vote for poverty far worse than the austerity measures that were in place. 

He gambled and lost.

If the argument for staying in is so clear cut, why was a referendum even considered and if the case is so overwhelming for Remaining how was it possible for the establishment to fail in making it obvious?

There are many people who are far from "****ing clueless" who have voiced considered opinions in support of the leaving the EU without any hyperbole or outlandish rhetoric. The outcome is not certain whether we stay in or leave, the EU has severe problems economically and socially, there is unrest amongst the disenfranchised parts of society across Europe and the Euro and the banks are fragile to say the least and to say nothing of the conflict in Syria and the migrant crisis.With elections in France, Germany and Netherlands it is going to be in interesting and possibly disturbing few months.

I can see France coming out of the EU ( and if I remember, it was their idea! )

Parfois je parle avec moi-meme ici

wanderlust wrote:

But it was thoroughly investigated by everyone who has an interest in economics and global trade and almost to a man/woman said that leaving the EU will set the UK back decades - but they were dismissed as cranks by people who hadn't got a f****** clue. 

You really are the biggest condescending prick on here. Much cleverer people than you seem to be quite happy with leaving the EU, so forgive me if I don't join you in more doom and gloom.

NickFazer wrote:

If the argument for staying in is so clear cut, why was a referendum even considered and if the case is so overwhelming for Remaining how was it possible for the establishment to fail in making it obvious?

The referendum was only held because Cameron thought he could win it and he foolishly thought it would shut up the Tory Brexit loons if they lost (which it would not have anyway).

The case for staying in the EU wasn't really made by Cameron and his chums because they decided to go with Project Fear as it worked in Scotland and also because a lot of the benefits of staying in the EU (like workers rights) are not things the Tories much like. Corbyn effectively sabotaged the remain campaign with his "support", so apart from the SNP there was little attempt to make a positive case for staying in.

So now we have a situation where almost half the people that voted don't have what they wanted and are being told to shut up and just support whatever May does. Happy days.

It's far from certain we will be leaving anything at the moment, with various legal challenges etc.

Really interesting read on the positives of a falling pound -

https://www.theguardian.com/business/2016/oct/16/let-the-pound-fall-and-the-economy-rise?CMP=fb_gu

This is the sort of thing we will be leaving behind, (hopefully). When you have 27 countries, all with completely different wants, it will never work smoothly.

https://www.thesun.co.uk/news/1979829/crazed-socialists-in-tiny-belgian-state-of-wallonia-torpedoes-multi-billion-pound-eu-canada-trade-deal/

Natasha Whittam wrote:

wanderlust wrote:

But it was thoroughly investigated by everyone who has an interest in economics and global trade and almost to a man/woman said that leaving the EU will set the UK back decades - but they were dismissed as cranks by people who hadn't got a f****** clue. 

Much cleverer people than you seem to be quite happy with leaving the EU

Name one...

Surprised that Travis Perkins are closing branches, cutting their supply chain and laying people off already. Their profits may have plummeted 22% since the referendum but I'm surprised that demand for renovation and DIY materials has decreased so markedly in such a short time.
30 branches/600 direct jobs isn't a great deal in the scheme of things but it seems an unusual step seeing as traditionally there is a rise in DIY whenever the economy starts to inflate. Perhaps the uncertainty in the housing market is behind their thinking?
Or maybe they are thinking that as the country is moving towards accepting zero hours contracts as the morally OK norm they'll be able to pick up their former employees at a much cheaper rate as the job market tightens? There are already around a million people (and rising) on zero hours contracts in the UK that the Government are counting as "in employment" so it could make business sense to take advantage of the flexible labour force that is emerging. But maybe it's another reason.

wanderlust wrote:Name one...

Nigel Farage.

wanderlust wrote:Surprised that Travis Perkins are closing branches, cutting their supply chain and laying people off already. Their profits may have plummeted 22% since the referendum but I'm surprised that demand for renovation and DIY materials has decreased so markedly in such a short time.
30 branches/600 direct jobs isn't a great deal in the scheme of things but it seems an unusual step seeing as traditionally there is a rise in DIY whenever the economy starts to inflate. Perhaps the uncertainty in the housing market is behind their thinking?
Or maybe they are thinking that as the country is moving towards accepting zero hours contracts as the morally OK norm they'll be able to pick up their former employees at a much cheaper rate as the job market tightens? There are already around a million people (and rising) on zero hours contracts in the UK that the Government are counting as "in employment" so it could make business sense to take advantage of the flexible labour force that is emerging. But maybe it's another reason.

TP is a notoriously expensive trade outlet. I imagine other cheaper competitors, which must be taking more of the market, are finally making TP realise that their existing business model is no longer viable in its present format.