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REFERENDUM RESULTS AND DISCUSSION THREAD

Paddingtonwolf said:
Our economy is financial services driven. There isn't really that much manufacturing left. It would have to be a huge investment project to regenerate that sort of level. Doable, I guess, if there was the appetite to do so.
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This is what worries me the most. If our biggest sector decides to relocate into the EU then the money they brought into our economy will also disappear. We all know the south-east subsidises the rest of the country, if they're generating less cash through taxes etc then the whole country will suffer.

As others have said a devaluation of the pound will make the high-street more expensive as we import most of our stuff (inc. oil)

I just can't see how this can be a good move, surely we should be encouraging our biggest industry and not creating reasons for it to leave
 
AndyWolves said:
I just can't see how this can be a good move, surely we should be encouraging our biggest industry and not creating reasons for it to leave
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Good God no. We need to stop the over reliance on this industry and build other up. Relying on one industry is never a good thing that just gives it far too much power and we need to diversify. It could be argued that reducing the reliance on the finance sector would make our economy more robust too.
 
Paddingtonwolf said:
I'm angry because I weighed the options during the campaign. At the start of which I was hopeful. Then I spent three weeks utterly despairing at the abysmal leave campaign. Since then I have see nothing from anyone associated with leave to even slightly convince me of any benefit whatsoever to giving up a lot of clear benefits which I and my kids have been forced to do. So yes. Still fucking angry. Always will be.
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Hang on Paddy, just back off a bit.

Could i have voted i would have voted to remain, but i've been away too long thus, no vote.

Yes you are angry because you weighed up the options, but what fucking options, it was a mystical vote, with utter bollocks from either side because neither side had or still has a clue as to what will happen.

You weighed up the options, but your total angry, (and may i say departure from your normal lucid debating style), seems to suggest that the options you weighed up are far superior to anyone else's options.

You made your choice, as did cyber, but you, as much as he are at fault for bringing this debate to a place somewhere back of the bicycle sheds.

Many on here weighed up their options individually, so may i suggest that this is a debate about all the differing opinions of all the options weighed up, and not the Paddy is pissed everyone else in the world is wrong thread.

I totally disagree with Cyber and am sure he will pay for his ill founded optimism in a year or two, but calm down sir, and be the sensible debating Paddy we all know and love, and leave your apposite Hitler personality off the net.

I understand your opinion, very well, as the result of the vote will cost me a fuck of a lot more than you, in real terms, so calm down and let's try and have a debate on this very good forum of ours, and not behind the bike sheds, which we have all surely grown out of.

Deutsch is pissed, possibly more than you with his Euro connections, so i suggest you re read his anti brexit posts.

addition i just read your latest posts and you seem to be returning to better debating ways, thank you
 
Paddingtonwolf said:
No on your last two points. It has devalued over a long period but a sudden drop of 14% on Brexit is not merely an acceleration of an underlying issue. It is a step change.
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The way the financial markets are these days, if Cameron had farted in front of Merkel or Dussenbloom, the pound would have dropped. any excuse and the financial markets overreact as a matter of course.
 
Johnny75 said:
Good God no. We need to stop the over reliance on this industry and build other up. Relying on one industry is never a good thing that just gives it far too much power and we need to diversify. It could be argued that reducing the reliance on the finance sector would make our economy more robust too.
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Which industry do you have in mind and where would the investment come from?

I agree by the way but I think having a strong sector (any sector) can only encourage growth in other sectors / industries
 
Diversification away from FS is important, but its going to take a while - and cost money. We shouldnt look to acheive it by letting FS bugger off to Frankfurt as that would be the worst of all worlds.
 
Given the Tories are such avowed fans of empty rhetoric, they could say "we intend to make sure that London remains the financial centre of Europe where all major institutions prefer to conduct their business" and it would head off at least some of the panic. They don't normally back any of their crap up with evidence or theory so it would just be a simple statement. The fact that they haven't leads me to believe that either they don't think it's terribly important to us or they're incredibly complacent that everyone will just stay here anyway.
 
Penk Wolf said:
The pound has been devaluing for a long time. £1 = $2 about 7 years ago. Has Brexit accelerated what was going to happen anyway? Is the pound over valued?
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I disagree with paddy - yes the pound was heavily over valued. A lot of countries have been trying to devalue (Japan have made it a core part of their strategy) to gain a competitive advantage, and that's pushed the pound up to levels that make exports very hard - this devaluation is a good thing for exports, the only really bad thing about it is that it's unplanned and the markets don't like anything unplanned.
 
Wonder how many people wil be thinking the devaluation is/was a good thing when inflation starts taking hold.
 
Carney said before the referendum that if Brexit won he'd likely have to drop rates and provide additional monetary policy support due to increased headwinds to the economy.

Since the referendum we've seen exactly those headwinds emerge.
http://uk.businessinsider.com/markit-services-pmi-for-the-uk-in-july-2016-8

These figures are not just bad, they're some of the biggest falls since records began. And it's not just one set of figures either.
http://www.bbc.co.uk/news/business-36956418

https://www.theguardian.com/business/2016/jul/29/uk-sees-biggest-fall-in-consumer-confidence-for-26-years-after-brexit-vote

Brexit has triggered a nose dive in the UK economy exactly as was predicted. No wonder the BOE is adding stimulus. And no wonder Hammond has been forced to abandon previous government plans for deficit reduction.

And it's not even the case that Europe is slowing as well.
The thing that gets my goat about all this is people genuinely don't seem to understand the human cost of it all.

Every 1% in reduced revenue in a large national consumer facing business = tens of thousands of fewer man hours scheduled = less money in people's pockets = less money circulating in the economy = less investment and less hiring. Across one industry that's huge.... Across the economy as a whole it's monstrous.

And for what? People on the other side are glibly posting about a few percent less GDP as if it's nothing - but it's not nothing - it's hundreds of thousands of people with fewer hours at work, less money to pay the bills, rapidly declining job security.
 
lemonjelly said:
Carney said before the referendum that if Brexit won he'd likely have to drop rates and provide additional monetary policy support due to increased headwinds to the economy.

Since the referendum we've seen exactly those headwinds emerge.
http://uk.businessinsider.com/markit-services-pmi-for-the-uk-in-july-2016-8

These figures are not just bad, they're some of the biggest falls since records began. And it's not just one set of figures either.
http://www.bbc.co.uk/news/business-36956418

https://www.theguardian.com/business/2016/jul/29/uk-sees-biggest-fall-in-consumer-confidence-for-26-years-after-brexit-vote

Brexit has triggered a nose dive in the UK economy exactly as was predicted. No wonder the BOE is adding stimulus. And no wonder Hammond has been forced to abandon previous government plans for deficit reduction.

And it's not even the case that Europe is slowing as well.
The thing that gets my goat about all this is people genuinely don't seem to understand the human cost of it all.

Every 1% in reduced revenue in a large national consumer facing business = tens of thousands of fewer man hours scheduled = less money in people's pockets = less money circulating in the economy = less investment and less hiring. Across one industry that's huge.... Across the economy as a whole it's monstrous.

And for what? People on the other side are glibly posting about a few percent less GDP as if it's nothing - but it's not nothing - it's hundreds of thousands of people with fewer hours at work, less money to pay the bills, rapidly declining job security.
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People on the other side?

Do you mean the people who can't see a doctor for 2 weeks? the people who can't get a job in their local factory, where hundreds of eastern Europeans are employed? the people, who can't get on the housing ladder as prices in the south of England are rocketing up? do you mean the people who can't get on the housing list because they don't and will never have enough points, whilst refugees are put straight into to new housing developments? Do you mean the majority of the UK, that the comfortable middle class ignored and didn't care about before the referendum?

What you and the remainers are worried about, is yourselves and the establishment. You might have to suffer in the short term and you are blaming the people you have ignored and looked down up on for too long.

I always said before the referendum," Open your door and look around you".

You didn't and now you expect sympathy as you you blame the very people you didn't give a fuck about.

Welcome to the party. Be nice if you lot cared as much about your country 's people and your country, instead of unelected EU commisioners.
 
The guy on the right has a fantastic hair cut to show off his receding hairline.
 
thehistorymakers said:
People on the other side?

Do you mean the people who can't see a doctor for 2 weeks? the people who can't get a job in their local factory, where hundreds of eastern Europeans are employed? the people, who can't get on the housing ladder as prices in the south of England are rocketing up? do you mean the people who can't get on the housing list because they don't and will never have enough points, whilst refugees are put straight into to new housing developments? Do you mean the majority of the UK, that the comfortable middle class ignored and didn't care about before the referendum?

What you and the remainers are worried about, is yourselves and the establishment. You might have to suffer in the short term and you are blaming the people you have ignored and looked down up on for too long.

I always said before the referendum," Open your door and look around you".

You didn't and now you expect sympathy as you you blame the very people you didn't give a $#@! about.

Welcome to the party. Be nice if you lot cared as much about your country 's people and your country, instead of unelected EU commisioners.
Click to expand...

Its all about the immigrants.

You can't see a doctor. Immigrants.

You can't get a job. Immigrants.

You can't get a house. Immigrants.

Said the immigrant.
 
Premier Quality said:
I disagree with paddy - yes the pound was heavily over valued. A lot of countries have been trying to devalue (Japan have made it a core part of their strategy) to gain a competitive advantage, and that's pushed the pound up to levels that make exports very hard - this devaluation is a good thing for exports, the only really bad thing about it is that it's unplanned and the markets don't like anything unplanned.
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Except that exporting to our biggest market is now a lot harder because we've pissed them all off by stating that we don't want to be in their club anymore. From the perspective of the company that I work for in the manufacturing industry, our current order book shows that exports are down however a fraction of that has been compensated by UK customers buying from us as they are seeing rising costs from imports due to the depreciation of the pound.
 
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