The economic consequences of Brexit

[Smollet]

London424 said:

I thought this was an interesting article/pov piece.

https://www.theguardian.com/commentisfree/2016/aug...

A good read.

[///ajd]

FT reporting RBS to introduce charges for holding cash from money.

Negative interest rate saving has finally arrived for some customers.....familys next?

Brilliant.

Can't help wondering if this doesn't risk a run on the bank.

The moment my banks charge negative interest it won't stay long.

Edited by ///ajd on Saturday 20th August 11:06

[don'tbesilly]

///ajd said:

FT reporting RBS to introduce charges for holding cash from money.

Negative interest rate saving has finally arrived.

Brilliant.

Perhaps you didn't read the article correctly or chose to post what you interpreted the article stated.

What it actually said was that RBS is to charge some large corporate customers for holding their money.
RBS has written to certain financial institutions in its investment banking division to warn them it will apply negative interest rates from Monday, according to the FT.

So certainly at the moment it has no impact on Joe Public.

You should try reading articles correctly, and then you'll avoid posting nonsense that suits your bias.

[///ajd]

don'tbesilly said:

///ajd said:

FT reporting RBS to introduce charges for holding cash from money.

Negative interest rate saving has finally arrived.

Brilliant.

Perhaps you didn't read the article correctly or chose to post what you interpreted the article stated.

What it actually said was that RBS is to charge some large corporate customers for holding their money.
RBS has written to certain financial institutions in its investment banking division to warn them it will apply negative interest rates from Monday, according to the FT.

So certainly at the moment it has no impact on Joe Public.

You should try reading articles correctly, and then you'll avoid posting nonsense that suits your bias.

Read my post again - edited before your post - and the article - families next?

I'm sure the affected businesses are delighted.

Do you rule it out happening more broadly?

[rs1952]

///ajd said:

Read my post again - edited before your post - and the article - families next?

Uncharted water, and probably why it wouldn't happen.

You say if your bank tries imposing negative interest rates then they won't be your bank for long.

If my bank tries imposing negative interest rates, it all gets withdrawn and put in a safe somewhere at home.

So that's you, me, and I suspect several million others.

Wise businesses do not shoot themselves in the foot. They've already got the Brexiteers to do that for them

[///ajd]

rs1952 said:

///ajd said:

Read my post again - edited before your post - and the article - families next?

Uncharted water, and probably why it wouldn't happen.

You say if your bank tries imposing negative interest rates then they won't be your bank for long.

If my bank tries imposing negative interest rates, it all gets withdrawn and put in a safe somewhere at home.

So that's you, me, and I suspect several million others.

Wise businesses do not shoot themselves in the foot. They've already got the Brexiteers to do that for them

Agreed it would be unpopular.

Retail banking might get around it by bringing in banking charges - eg. charge for a debit or credit card etc.

I'd rather have our 2.2% growth back though.

No matter what happens it won't be the fault of brexit. It'll be that idiot remainer Carney fiddling with interest rates when he didn't need to. I suspect that if the economy goes downhill everything will be the fault of idiot remainers failing to implement the brexit dream

[WinstonWolf]

///ajd said:

rs1952 said:

///ajd said:

Read my post again - edited before your post - and the article - families next?

Uncharted water, and probably why it wouldn't happen.

You say if your bank tries imposing negative interest rates then they won't be your bank for long.

If my bank tries imposing negative interest rates, it all gets withdrawn and put in a safe somewhere at home.

So that's you, me, and I suspect several million others.

Wise businesses do not shoot themselves in the foot. They've already got the Brexiteers to do that for them

Agreed it would be unpopular.

Retail banking might get around it by bringing in banking charges - eg. charge for a debit or credit card etc.

I'd rather have our 2.2% growth back though.

No matter what happens it won't be the fault of brexit. It'll be that idiot remainer Carney fiddling with interest rates when he didn't need to. I suspect that if the economy goes downhill everything will be the fault of idiot remainers failing to implement the brexit dream

What could Carney do? Interest rates have been stupidly low since before the referendum was even mooted...

[jjlynn27]

bmw535i said:

jjlynn27 said:

bmw535i said:

///ajd said:

Do you mean this link?

http://www.thelondoneconomic.com/satire/study-reve...

We can keep going all day:

GetCarter said:

Indeed. As every demographic poll shows: older, right wing, poorly educated males on low income are the most likely to vote to leave. Obviously not the powerfully built directors that frequent PH.

(As I said a few months back - don't shoot the messenger!)

What always amazes me is 3% (up to 7% I've seen) of UKIP voters want to vote remain. Are they that thick?

You can keep going as many days as you want, nothing in any of those links says that 'all out voters are stupid'. Not even close. You do understand the difference?

You do know I'm not looking for a quote saying "all out voters are stupid"?

Stop making stuff up and twisting words - you lot all seem to do it. Why?

Forgot my audience. Step by step;

andysomething; "frequently we read that all out voters are stupid".
Me: Really? If it's frequent, there should be easy few quotes to confirm that, anything?"
andysomething; "Uhm, ....." start throwing toys out of the pram and disappears.
You; here are few quotes. I can do this all day.
Me: No, none of those quotes says even remotely what was claimed.
You 'Stop making stuff up and twisting words - you lot all seem to do it. Why?"

Me:

Also, when you say 'you lot'? Who is 'you lot'? Immigrants? Foreigners?

[jjlynn27]

Gotta love when OAPs of PH give economic advice to Carney. Comedy gold.

[dandarez]

'You lot' Mr Leagues means 'you lot'. You, Mr AGEIST GIT!

It's not hard.

Not foreigners.

Not immigrants.

The permanent bunch of resident Moaning Minnies.
ie: You lot.

The Moaning Remainians.
ie: You lot.

Pick up your toys, you can't leave them outside the pram forever you know.
Why?
Because one day you'll grow up and be able to reach them

...second thoughts

Understand now?
Probably not.



I'll pop in again when I get a mo.

I don't live on here like

...'You lot'.

[///ajd]

jjlynn27 said:

Forgot my audience. Step by step;

andysomething; "frequently we read that all out voters are stupid".
Me: Really? If it's frequent, there should be easy few quotes to confirm that, anything?"
andysomething; "Uhm, ....." start throwing toys out of the pram and disappears.
You; here are few quotes. I can do this all day.
Me: No, none of those quotes says even remotely what was claimed.
You 'Stop making stuff up and twisting words - you lot all seem to do it. Why?"

Me:

Thats the way I read it.

Careful not to moan though, we might interfere with the "turbo charging the economy" process

[anonymous-user]

jjlynn27 said:

Gotta love when OAPs of PH give economic advice to Carney. Comedy gold.

Yeah, like your advice, to anyone, would be any more worthwhile.....

[rs1952]

dandarez said:

'You lot' Mr Leagues means 'you lot'. You, Mr AGEIST GIT!

It's not hard.

Not foreigners.

Not immigrants.

The permanent bunch of resident Moaning Minnies.
ie: You lot.

The Moaning Remainians.
ie: You lot.

Pick up your toys, you can't leave them outside the pram forever you know.
Why?
Because one day you'll grow up and be able to reach them

...second thoughts

Understand now?
Probably not.



I'll pop in again when I get a mo.

I don't live on here like

...'You lot'.

Well, there you have it. The Thoughts of Brexiteer Dan, so eloquently put as usual.

I suppose I am one of his "you lot," but he's not able to pin the "ageist git" tag on me. From previous run-ins on here I get the impression that he is older than me by days or perhaps months, but certainly not by decades. I voted remain, the same as I voted "in" in 1975, because I thought the EEC as it was then was overall a good thing and, as I tend not to believe the anti-Europe poisonous bullshyte put out by the tabloid press over the last 40 years, I have found no reason to change my mind.

However, if we're going to have a go at "moaning remainians" perhaps we also ought to look at some evidence that has been coming to light over the last few weeks about the people who voted leave and why some of them did it. I have learnt from TV and radio, for example, that:

• Some people voted leave because they didn't like the tories

• Some people voted leave because the government ignores their area of the country (the fact that some of those areas have benefited from EU funding over the years seems particularly ironic to me, and their naïve trust that our government will make up the shortfall is, shall we say, touching...)

• Some people voted leave because they wanted to give "the establishment" a good kicking

• Some people voted leave because they actually BELIEVED that the NHS would be £350 million a week better off if we left

• Some people voted leave because of the pressures that immigrants are putting on the NHS and schools and infrastructure. The facts that the NHS and schools and infrastructure have been underfunded by successive governments for years, and that the NHS and schools and infrastructure is fked even in areas of the country where there are very few immigrants, seems to have passed them by.

There are plenty of other idiotic reasons that could go on that list that some people had in their minds when they went to put their cross on a bit of paper, but that will do for now to illustrate the point.

Now we can spin this all we like, and we have to accept that there are people around who honestly and truly believe that leaving the EU will be a good thing, but it is hard to dispute that the numbers of people who had misguided, or just plain daft, reasons for voting leave certainly tipped the balance over the magic 50% in the referendum.

In the meantime, the government would have preferred that we voted remain, the City would have preferred that we voted remain, and more businesses would have preferred that we voted remain than would have preferred us to vote to leave.

And the government is now threatening to base the future wellbeing of the country for decades to come on this "sovereign decision of the people"...

I have lived for two thirds of my life so far within the EU and one third before we joined it. I am fairly sure that I can look forward to a few more years of being in the EU before this country finally shuts the metaphoric door behind it. It will be the younger generations who will have to deal with the long term consequences of Brexit because the likes of Dan and me will not be around for too much longer and, oddly enough, those younger generations tended to be in the remain camp too.

Funny old world, innit?

[Dr Jekyll]

So why did people vote remain?

Some thought that trade with the EU would cease if the UK left.
Some thought that foreign trade is impossible without trade deals.
Some wanted to show that they were sophisticated cosmopolitan people.
Some thought that leaving the EU would mean visas would be required for a day trip to Calais.
Some thought that leaving the EU would make it impossible to work in EU countries.
Some thought that leaving the EU would mean all EU nationals in the UK would be deported.

[anonymous-user]

Some of the above could be true

The last point was the belief/wish of a lot of the Brexiteers

[poo at Paul's]

Mr GrimNasty said:

Well we'd better hope Carney sticks to wearing purple glitter face adornments at festivals instead of making disloyal petulant proclamations of doom and making completely unnecessary adjustments to rates and more unnecessary QE - all to keep up the pretense that he was right about Brexit.

He should be sacked along with Osborne for the good of the country and for his ego driven stupidity.

And BTW, it really is time you stopped sulking about the result!

What has this done for the last, what near 6 years since interest rates changed? Its about time he had to do a bit of work!!

[Derek Smith]

Dr Jekyll said:

So why did people vote remain?

Some thought that trade with the EU would cease if the UK left.
Some thought that foreign trade is impossible without trade deals.
Some wanted to show that they were sophisticated cosmopolitan people.
Some thought that leaving the EU would mean visas would be required for a day trip to Calais.
Some thought that leaving the EU would make it impossible to work in EU countries.
Some thought that leaving the EU would mean all EU nationals in the UK would be deported.

Is it possible that we didn't like being patronised by the exiters?

[Dr Jekyll]

Derek Smith said:

Dr Jekyll said:

So why did people vote remain?

Some thought that trade with the EU would cease if the UK left.
Some thought that foreign trade is impossible without trade deals.
Some wanted to show that they were sophisticated cosmopolitan people.
Some thought that leaving the EU would mean visas would be required for a day trip to Calais.
Some thought that leaving the EU would make it impossible to work in EU countries.
Some thought that leaving the EU would mean all EU nationals in the UK would be deported.

Is it possible that we didn't like being patronised by the exiters?

How clever of you to notice.

[PurpleMoonlight]

poo at Paul's said:

What has this done for the last, what near 6 years since interest rates changed? Its about time he had to do a bit of work!!

He was only appointed 3 years ago .....

[chris watton]

Derek Smith said:

Is it possible that we didn't like being patronised by the exiters?

With respect, Derek, if ever there was a pure definition of the term 'The Pot Calling the kettle Black', the above sentence must be near the top of the list!