Brexit, for once some facts.

[oldtom]

While the tory company runs the UK on behalf of corporate Britain and agonises over whether to 'help' just selected businesses or provide taxpayers' money to all their friends, for the rest of us, austerity continues unabated.

How does austerity work? Here is a fair description:



Tom

 

[Woosh]

You really must stop this you know! It is just so unfair for you to keep hitting all the 'Leave' supporters with facts - it's not as if they do it to us, is it?

Tom

oldtom, I like facts.

 

[Kudoscycles]

brexit has already born some fruit.
Lessen the level of immigration and reduce imports.
House price increases less.
PSBR is less too.

Is that good or bad?
KudosDave

 

[Kudoscycles]

Something I have never really understood....
The chinese are said to be worried about sevicing their debt now their growth is slowing. I understood that the USA sovereign debt is 70% owned by the chinese.
So who do the chinese borrow from?
KudosDave

 

[flecc]

Something I have never really understood....
The chinese are said to be worried about sevicing their debt now their growth is slowing. I understood that the USA sovereign debt is 70% owned by the chinese.
So who do the chinese borrow from?
KudosDave

All countries both lend to each other and borrow from each other, and their citizens also buy other governments stocks and bonds. For example Germany which has a large balance of payments surplus also has a national debt. This mechanism is necessary to establish through currency trading the relative worths of each currency against others, and in turn permit global trading. If we had no measure of what another money was worth, we couldn't trade.

So although the Chinese own much of the USA's debt, they've also borrowed themselves for ready money, some of that no doubt from the USA, and they must meet the regular interest payments on those borrowings.

We are the same in the UK, although we have a huge national debt, we are also owed large sums by a variety of countries that we lend money to. The national debt is of course A minus B.

Currency trading sets the values of currencies and the interest rates. Because the UK is a reliable country that meets its interest payments to others as they become due, we can borrow quite cheaply, currently at 1.396%. More dodgy countries, especially those who have previously defaulted on an interest payment, have to pay much higher interest rates to borrow. For example I remember a time when Mexico had to pay 14% to borrow, a crippling rate, and some rates can be very much higher.
.

 

[Woosh]

So who do the chinese borrow from?

You need to read up on fractional reserve banking.
You only have to own a bank, you can then lend out money that you borrow elsewhere with only a small (3%-5%) capital of your own.
It's like a ponzi scheme, everyone's money is lent to everyone else, including the guys who are up to their eyeballs in debts.
If your business makes 1m a year in profit, you have to deposit it somewhere, your bank will simply use it to lend to someone else 20 times over. Some of those borrowers will make millions in profit, those millions will then be lent out several times over and so it goes multiplying forth.
until some greedy bank making big bad loans and loses all their capital...

 

[Danidl]

Theresa May should read her history....Charles 1 tried to dictate parliament,he died a foot shorter,after a civil war.
He was replaced by Oliver Cromwell (aka Nigel Farage),who ran England as a military country for eleven years.
Throughout this period the Irish and Scots were revolting and troublesome,constantly rebeling.
KudosDave

... Some of us Irish are still revolting...At least that's what civilised people tell us.
A story which may have escaped you on the mainland (UK), is that :
1. There is likely to be a vacancy as president of the EU from may 2017., As Poland is not willing to endorse the current president
2. The current leader of our parliament, our equivalent to PM Enda Kenny, intends stepping down from that role in April or so. Internal party politics, will require a change of leadership in advance of elections, which as we have a minority government, albeit in power with support of the major opposition party, may not last full term.
3. He is reasonably well liked in Europe, and may well be a candidate . Ireland has a history of sending credible representatives to Europe, and have played ball.

Ireland would be the country best disposed towards a good deal for the UK, so friends in court ...

 

[Danidl]

You really must stop this you know! It is just so unfair for you to keep hitting all the 'Leave' supporters with facts - it's not as if they do it to us, is it?

Tom

... It's so unfair you can prove anything with facts!

 

[Woosh]

Is that good or bad?

depends on if you are buying or selling.
I think it's better that we continue like we are in the next two years.
A last minute large wave in EU immigration won't do anyone any good.

 

[Woosh]

Ireland would be the country best disposed towards a good deal for the UK, so friends in court ..

agreed.
we need as many friends as we can get.

 

[oldgroaner]

From today's Daily Mirror
"
Nigel Farage and Arron Banks' Leave.EU group falsely suggests refugee was arrested in terror investigation
A spokesperson for the group, fronted by Nigel Farage and Arron Banks, said: "Oops."
Leave.EU, the pro-Brexit group fronted by Nigel Farage and Arron Banks, have been forced to apologise after suggesting a refugee had been arrested in a terror raid.

The group's official Twitter account posted a picture of a young person allowed to enter Britain from the Calais refugee camp in October.

The tweet read: "A terror suspect arrested in Poole, Dorset at the weekend looks very similar to one of the 40 year old "child refugees" let in last October."

The picture of the child refugee was published next to a picture of a man being arrested in Poole over the weekend.

Not only were they not the same person, the arrest had nothing to do with terrorism.

Could this be a case of "Trumping"?

 

[oldtom]

There is a budget statement coming out soon. That will be presented by a liar and tax cheat. I wonder how the media will present Hammond's plans, particularly after the way they have attempted (and failed) to discredit Jeremy Corbyn, over his published tax affairs while Hammond has refused point blank to publish his.

Still, the simpletons believe that these extreme right politicians know what they are doing and that exiting the EU is somehow in the interests of the British public. They cannot or will not understand that all our problems in the UK have been created by the tory Party and fail to realise that the notion that the EU is somehow responsible has been fed to them through a campaign of lies over many years.

Those lies continue and sadly, the simpletons cannot get enough of them it seems. 'The Canary' addresses recent events like this:

https://www.thecanary.co/2017/03/06/we-need-to-discuss-the-stunt-the-uk-media-pulled-yesterday-because-it-was-just-plain-wrong-image/

Tom

 

[oldgroaner]

The Independent has this this morning
But as some would ask, can you believe polls and surveys?

Brexit: UK public overwhelmingly oppose Theresa May's plan to leave EU with no deal in place, new poll reveals
Exclusive: Even Tory voters do not give majority support to leave the EU with no deal if Parliament rejects the terms Ms May agrees with Brussels
Britons overwhelmingly oppose Theresa May’s plan to quit the EU with no deal in place if Parliament dares to reject the terms she agrees with Brussels, an exclusive poll has revealed.

The BMG Research study showed twice as many people would rather the UK stay in the EU or try and secure a different deal, if MPs and Lords do not endorse the agreement the Prime Minister returns from Europe with.

The survey for The Independent also showed the public are bracing themselves for a Brexit hit on the economy over the next two years as painstaking negotiations over future relations play out.
Asked what “should happen next” if Parliament rejects Ms May’s deal, just 25 per cent said “we should leave the EU with no set future relations in place and revert to trading with the EU on World Trade Organisation rules.”

A greater proportion, 27 per cent, said Ms May should try to renegotiate a deal, 14 per cent said we should stay in the EU on new terms that Ms May should try to negotiate and 15 per cent said we should stay in on existing terms – a total of 56 per cent who favoured options at odds with the Prime Minister’s plan to quit and trade on WTO rules.
Even among Tory voters only 38 per cent backed leaving with no deal, while 38 per cent supported renegotiating and a further 18 per cent opting for staying in the EU on existing or new terms.

Only last week, ex-Tory Prime Minister Sir John Major warned that quitting with no deal would be “the worst possible outcome” for Britain with “worrying implications for public services such as the NHS”.
Opinion was less equivocal when people were asked – “do you think the Brexit negotiations over the next two years will have a positive or a negative impact on the British economy?”

Some 43 per cent said the impact would be bad, of which 14 per cent thought it would be “very bad”. Meanwhile 33 per cent thought it would be good with seven per cent thinking it would be “very good”. Just under a quarter, 24 per cent, thought there would be no impact.

Source Note: BMG Research interviewed a representative sample of 1,576 adults living in Great Britain online between 27 Feb to 3 Mar 2017. Data are weighted. BMG are members of the British Polling Council and abide by their rules

 

[tillson]

From today's Daily Mirror
"
Nigel Farage and Arron Banks' Leave.EU group falsely suggests refugee was arrested in terror investigation
A spokesperson for the group, fronted by Nigel Farage and Arron Banks, said: "Oops."
Leave.EU, the pro-Brexit group fronted by Nigel Farage and Arron Banks, have been forced to apologise after suggesting a refugee had been arrested in a terror raid.

The group's official Twitter account posted a picture of a young person allowed to enter Britain from the Calais refugee camp in October.

The tweet read: "A terror suspect arrested in Poole, Dorset at the weekend looks very similar to one of the 40 year old "child refugees" let in last October."

The picture of the child refugee was published next to a picture of a man being arrested in Poole over the weekend.

Not only were they not the same person, the arrest had nothing to do with terrorism.

Could this be a case of "Trumping"?

.........non story, move along please nothing to see here.

 

[tillson]

The Independent has this this morning
But as some would ask, can you believe polls and surveys?

Brexit: UK public overwhelmingly oppose Theresa May's plan to leave EU with no deal in place, new poll reveals
Exclusive: Even Tory voters do not give majority support to leave the EU with no deal if Parliament rejects the terms Ms May agrees with Brussels
Britons overwhelmingly oppose Theresa May’s plan to quit the EU with no deal in place if Parliament dares to reject the terms she agrees with Brussels, an exclusive poll has revealed.

The BMG Research study showed twice as many people would rather the UK stay in the EU or try and secure a different deal, if MPs and Lords do not endorse the agreement the Prime Minister returns from Europe with.

The survey for The Independent also showed the public are bracing themselves for a Brexit hit on the economy over the next two years as painstaking negotiations over future relations play out.
Asked what “should happen next” if Parliament rejects Ms May’s deal, just 25 per cent said “we should leave the EU with no set future relations in place and revert to trading with the EU on World Trade Organisation rules.”

A greater proportion, 27 per cent, said Ms May should try to renegotiate a deal, 14 per cent said we should stay in the EU on new terms that Ms May should try to negotiate and 15 per cent said we should stay in on existing terms – a total of 56 per cent who favoured options at odds with the Prime Minister’s plan to quit and trade on WTO rules.
Even among Tory voters only 38 per cent backed leaving with no deal, while 38 per cent supported renegotiating and a further 18 per cent opting for staying in the EU on existing or new terms.

Only last week, ex-Tory Prime Minister Sir John Major warned that quitting with no deal would be “the worst possible outcome” for Britain with “worrying implications for public services such as the NHS”.
Opinion was less equivocal when people were asked – “do you think the Brexit negotiations over the next two years will have a positive or a negative impact on the British economy?”

Some 43 per cent said the impact would be bad, of which 14 per cent thought it would be “very bad”. Meanwhile 33 per cent thought it would be good with seven per cent thinking it would be “very good”. Just under a quarter, 24 per cent, thought there would be no impact.

Source Note: BMG Research interviewed a representative sample of 1,576 adults living in Great Britain online between 27 Feb to 3 Mar 2017. Data are weighted. BMG are members of the British Polling Council and abide by their rules

Read All About It! Pollsters get more egg on face after yet another hopelessly inaccurate survey. Read All About It!

 

[tillson]

Some very good advice from The Dalai Lama to all of you Remainers out there.

Remember that sometimes
not getting what you want
is a wonderful stroke of luck

I think that you Remainers are indeed about to witness something truly wonderful.

 

[oldtom]

This woman does not speak for me and I believe she is a disgrace to humanity.

http://www.independent.co.uk/news/uk/politics/child-refugees-sentimental-pauline-latham-abandoned-lorry-kent-a7614536.html

Tom

 

[oldtom]

This time, the message isn't a lie:



Tom

 

[oldtom]

Once again, 'The Canary' has a different and very interesting perspective on recent events. Obviously, mainstream news readers were denied this story for political reasons and only a snippet was carried in the media but it's certainly worth a read:

http://www.thecanary.co/2017/03/06/one-biggest-moments-uk-political-history-happened-last-thursday-almost-no-one-knows-editorial/

Tom

 

[oldtom]

Here is a fact-packed pen-picture of Hammond and his policy, leading up to his first budget speech. Thanks to AAV for this descriptive piece:

http://anotherangryvoice.blogspot.co.uk/2017/03/philip-hammond-has-been-talking.html

Tom