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Well done...
#1
to the fuckwits who voted for BREXIT. One of whom was my hairdresser the other day who still didn't believe she was poorer even though the pound has fallen by 10-15%. We are an absolute shambles, read this by Jonathan Powell:

https://www.theguardian.com/commentisfre...tic-brexit
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#2
"Fuckwits"

All the right people (including Jonathan Powell) are enraged by Brexit. He couldn't be a more Establishment figure if he tried.

By the way, the £ has historically been lower against the Euro & the Dollar pre-June 2016. But you knew that being an economist didn't you?

A different perspective


Quote:Luckily for us, the EU’s nincompoopery continues to compete with our own.

The world’s largest banks have given away that their threat to move jobs to Europe is hollow. Europe isn’t London. Europeans aren’t Londoners. Ergo, there is no way to simply pop up in a European city and get to work. The market is still in London, even if new markets are set up in Europe.

Acknowledging this, the new bank plan is to minimise the creation of jobs in Europe wherever possible and to link them to London however possible. The technical definition of where the bank is based can be moved to Europe without the change being meaningful in terms of jobs and work done.

The EU will be humiliated in two ways. First, London will continue to dominate as Europe’s financial centre.

Second is the tax implication. In the technology arena, the EU is seeking to tax commercial activity where it happens instead of where the company conducting the activity is based. Applied to banking, this’ll mean London gets the tax revenue while the EU is left with shell companies opened primarily to comply with EU rules.

The European Banking Authority has declared all this will not be allowed. Unfortunately, it will have to put a stop to the concept of outsourcing and international transactions altogether if it wants to stop it. Which isn’t helpful for founding financial centres.

The banks are going so far to keep their operations in London that they’re looking into something called “back-to-back trades”. The idea is that all transactions are mimicked in London in such a way that the European trade is merely symbolic.
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#3
(11-13-2017, 12:33 PM)Protheroe Wrote: "Fuckwits"

All the right people (including Jonathan Powell) are enraged by Brexit. He couldn't be a more Establishment figure if he tried.

By the way, the £ has historically been lower against the Euro & the Dollar pre-June 2016. But you knew that being an economist didn't you?

A different perspective


Quote:Luckily for us, the EU’s nincompoopery continues to compete with our own.

The world’s largest banks have given away that their threat to move jobs to Europe is hollow. Europe isn’t London. Europeans aren’t Londoners. Ergo, there is no way to simply pop up in a European city and get to work. The market is still in London, even if new markets are set up in Europe.

Acknowledging this, the new bank plan is to minimise the creation of jobs in Europe wherever possible and to link them to London however possible. The technical definition of where the bank is based can be moved to Europe without the change being meaningful in terms of jobs and work done.

The EU will be humiliated in two ways. First, London will continue to dominate as Europe’s financial centre.

Second is the tax implication. In the technology arena, the EU is seeking to tax commercial activity where it happens instead of where the company conducting the activity is based. Applied to banking, this’ll mean London gets the tax revenue while the EU is left with shell companies opened primarily to comply with EU rules.

The European Banking Authority has declared all this will not be allowed. Unfortunately, it will have to put a stop to the concept of outsourcing and international transactions altogether if it wants to stop it. Which isn’t helpful for founding financial centres.

The banks are going so far to keep their operations in London that they’re looking into something called “back-to-back trades”. The idea is that all transactions are mimicked in London in such a way that the European trade is merely symbolic.

Yes you are right - against the reserve currency (US dollar) we have been lower only in 1986 for a very short period. I was 6 years old then, perhaps someone can tell me why the economy was so dog shit then as it is now. Must be something to do with a Conservative government.


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#4
the reserve currency needs to be abolished
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#5
Have you been hacked logic1?

"Fuckwits"?
"Dog shit"?

1986 wasn't bad actually. A 19-year low in the rate of inflation, falling unemployment, huge deregulation of the stock market.
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#6
(11-13-2017, 01:38 PM)Protheroe Wrote: Have you been hacked logic1?

"Fuckwits"?
"Dog shit"?

1986 wasn't bad actually. A 19-year low in the rate of inflation, falling unemployment, huge deregulation of the stock market.

It was a terrible year. The Albion got relegated. And I'm in a bad mood. This government is full of morons and the counterfactual is a bunch of commies. We are fucked. I'm embarrassed to be British.
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#7
Unless you have a vagina it's "Barber"
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#8


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