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Poorest Households the Biggest Beneficiaries of Brexit

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More news we won't hear reported on the Brussels Broadcasting Corporation (or their chums at EU-funded propaganda machine C4):-

Quote

Britain's poorest households will be the biggest beneficiaries of Britain's departure from the European Union, according to a report published by a prominent Labour group.

A paper co-authored by Labour Leave and a group of economists estimates that Brexit will bring a reduction in prices and immigration that will save the most deprived families £36 per week.

The group also warns that a "soft Brexit" would "leave us worse off and in danger of remaining in the EU in all but name."

John Mills, a prominent party donor who chairs Labour Leave, said the calculations in the report show that working class Labour voters "were right to back quitting the EU" because "they will see a boost to incomes that have been heavily depressed over the last decade".

http://www.telegraph.co.uk/news/2017/09/03/poorest-will-gain-brexit-says-labour-report/

Meanwhile Blair - having failed at every other machiavellian ploy - is doing everything he can to ensure a "Soft Brexit" - a term created to pretend that democratic process is being followed whilst ensuring that nothing actually changes.  The French euro-elies got away with this by creating Merkron (no, not a typo!), and the French people have woken up the fact that they've been had in record time.

blair-eu.jpg

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There's the old joke about the builder and his estimates, which are always much more attractive than the final cost. Might be wise not to count your chickens yet.

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5 hours ago, mercuryg said:

There's the old joke about the builder and his estimates, which are always much more attractive than the final cost. Might be wise not to count your chickens yet.

I'm now beginning to appreciate that you Remainers were right about several things Merk.  Take for instance those three million unemployed: we'll.. I've found them!  They're right here in Southern Europe, bravely propping up the value of the New Deutchmark.
And, Frau Merkel's desperate refugees are still coming in ever increasing numbers - the bitter civil war in Nigeria is particularly relevant at this moment.  We really must let a few million more in to help in the NHS - as per the free-movement directive from the fatherland!

Chickens?  As you've probably noticed, so many were hatching that I gave up counting them months ago!  Tip: try exporting British chickens to the EU, and discover just what this "single market" thing amounts to in reality.

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Even more UK chickens hatching:

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The world’s biggest sovereign wealth fund has issued a resounding vote of confidence in the UK economy and the long-term prospects for the pound, raising its target for sterling bonds to 8pc of its global benchmark fund.

Norway’s $1 trillion oil fund has advised its government to concentrate core holdings of debt into dollars, euros, and sterling, dropping Japanese and emerging market bonds altogether.

“This is a very significant move. It is extraordinary that they have opted for the UK as world number three for investment ahead of China and Japan,” said Stephen Jen, a currency expert at EurizonSLJ Capital and an advisor to Asian sovereign wealth funds.

The shift in strategy came as the vast Norwegian fund – now known as the Government Pension Fund – said it is stepping up its expansion into London commercial property,..

 

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"I'm now beginning to appreciate that you Remainers were right about several things Merk.  "

You need to give that a few years. we haven't gone yet.

 

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1 hour ago, mercuryg said:

"I'm now beginning to appreciate that you Remainers were right about several things Merk.  "

You need to give that a few years. we haven't gone yet.

 

I gave Wim Duisenberg (former Eurobank supremo) twenty years, and he still hasn't delivered on his "the UK economy will tank in months if it doesn't join my Euro" strictures.  Wasn't just him of course - the whole EUphile establishment were at it at the time.  You'd almost have thought they had a vested interest in talking our economy down, but "our European partners" would never ever do a thing like that!

I hope the EU-SSR has a few more years, but from where I sit it's looking increasingly unlikely.  If we can get past becoming a Caliphate (no bets on that one) the UK is now good for another 1000 years, and some of the best ones lie ahead of us.

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I meant we're not actually out yet. So we have to wait a few years to see the results. I'm still loving the exchange rate, btw.

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6 hours ago, mercuryg said:

I meant we're not actually out yet. So we have to wait a few years to see the results. I'm still loving the exchange rate, btw.

Curious that the Remainers predicted the economy would tank at even the hint of a OUT majority?  Cable predicted a stock market crash of -30% whereas it's now +30%.  So where do you want the place goal posts on this major economic setback?  You can have your pick, but "somewhere over there" isn't going to get written into the rules. :D

Someday sometime is also the problem with socialist politicos and their sunny uplands; they attempt to string generation after generation along whilst ensuring that everything is working well for their class IN THE NOW.  The USSR's apparatchiks ran out of excuses after 70 years, but in the Internet age the EUSSR simply hasn't got that long.  Anyway, I'm very curious to know exactly why you think the EU is an economically viable construct?

I'm delighted that the the exchange rate is working well for you. If you look at the history it came straight off a high and is now pretty much exactly where it was in 2009/10.  I know a few British ex-pats who are having to alter their lifestyles, and we are conscious that our own money goes nothing like as far, but there are several neat compensations.  What has reduced the general impact for Brits is that "weak hands" left during the last downer and the long-termers are preconditioned to wild exchange rate swings.  If you bought eurozone property in the early 2000's at going on for €1.60 : £1 - as most did here - your property is notionally worth far more in Sterling terms, and you can console yourself that you probably couldn't consider it now.  That's until you come to sell it and discover that there is mostly a huge difference between estate agent and real world prices, and that it's very much a buyer's market. :D

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"If you look at the history it came straight off a high and is now pretty much exactly where it was in 2009/10. "?

I'm not sure where you get your figures from here (and hope the rest of those you quote are not quite as inaccurate!). In 2009/2010 I could get an average, across the two years, of around 66/67p on the dollar; since the brexit vote, It's been around 74/76p. That's a major difference, and hardly 'pretty much exactly' the same, as I'm sure you'll agree.

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3 hours ago, mercuryg said:

"If you look at the history it came straight off a high and is now pretty much exactly where it was in 2009/10. "?

I'm not sure where you get your figures from here (and hope the rest of those you quote are not quite as inaccurate!). In 2009/2010 I could get an average, across the two years, of around 66/67p on the dollar; since the brexit vote, It's been around 74/76p. That's a major difference, and hardly 'pretty much exactly' the same, as I'm sure you'll agree.

No I don't agree.  The base figure the Remonians cling on to is actually a year or so long rise caused by the market's belief that Cameron was going to win.  We were/are still in fact in a recovery phase from Global Gordon's seriously bad mistiming of the normal economic cycle.  He convinced himself that the good times were bad times, and that he'd ended "stop go economics" when in fact things were still in the warm shadow of previous market reforms, and about to turn down again.

Real economists were telling him that he was wrong for several years, but a lecturer at a second rate polly clung on to the religious belief that he knew better.  His excuse was that he was the victim of an unforeseeable "Global" economic turn down, when in fact he was the trigger through failure to regulate our very own economic numbskulls at Northern Rock (please search back on my postings at that time).

There is no POSITIVE correlation between the value of our currency and our future prospects like you wish to imply, but there is almost certainly a negative one. Having an overvalued currency is fatal.  The huge boost in UK stock market values and surge in inward investment IS indicative though, as is the record low unemployment levels.  Wages will be forced up after a decade of complete stagnation caused by our far too close relationship with the moribund Eurozone - that's EXACTLY what the Leavers intended!

Now please answer my question as to "why you think the EU is an economically viable construct?"

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I wasn't talking about any correlation between the value of our currency and future prospects, and I wasn't implying anything of the sort. I was disagreeing with your assertion that the value of pound is now as it was in 2009/2010, because it's not, and not anywhere close. What that has to do with the future of the country is not for me to comment on, as I don't know. As for why I think the EU is a viable economic construct, again, I'm not an economist, and don't know. I'm simply concerned for the welfare of all the Eastern European vegetable pickers who do a great job in the farms around my 'other home' in Lincolnshire, poor people. Because, of course. they're all going to get sent home, as the 'leave' brigade voted for. (I hope, of course, you can see where I'm being tongue in cheek.) As long as I get my current return on the dollar, which is much greater than at any point in '09 or '10, despite your assertion otherwise, so i guess I'm in the 'i'm alright jack' category. On a serious note, I admire your persistence and your interest in the subject, but I'm not really that bothered. More going on closer to home to care about. Before i go, oh, look, I just converted $100 into £75 - loving this Brexit! Now I can afford that microbrewery i always wanted.

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0809-MATT-PORTAL-WEB-P1.png?imwidth=1240

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The 'rebels' who defied Jeremy Corbyn and backed the EU Withdrawal Bill tonight

 

Dennis Skinner

Ronnie Campbell

Frank Field

Kate Hoey

Kelvin Hopkins

John Mann

Graham Stringer

 
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10 minutes ago, moe19 said:

The 'rebels' who defied Jeremy Corbyn and backed the EU Withdrawal Bill tonight

Dennis Skinner

Ronnie Campbell

Frank Field

Kate Hoey

Kelvin Hopkins

John Mann

Graham Stringer

A fairly predictable list of traditional non-Blairite, non-Marxist socialists who feel they are there to serve the needs of their constituents and their country.  Quite unlike our own self-serving idiot who will go along with international capitalist liberals or screaming marxist loonies, according to the direction of the wind - in fact anything but the place and people foolishly funding his lifestyle.

Wake up Wansbeck - you are living in the 21st Century now.  Lavery is cruel joke, and Wansbeck voters are the butt of that joke.

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"Wake up Wansbeck"

Bedlington certainly woke up. The recent County Council elections returned three independents. People who, to quote your good self, "feel they are there to serve the needs of their constituents". 

 

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