Extreme Brexit could be worse than financial crisis for UK: BoE

[3NUMBAS]

BOE has been consistently wrong so ignore any more black reports

[nontabury]

On 11/29/2018 at 1:15 AM, terryw said:

Project Fear has not become Project Hysteria.

No doubt some gullible remoaners will beleive, these scare stories.

 

 

[beautifulthailand99]

On 12/2/2018 at 8:54 AM, nontabury said:

No doubt some gullible remoaners will beleive, these scare stories.

 

 

Keep it going Nontabury you will get that 35baht pound you are so fervently wishing upon yourself and your fellow expats. Myself I'm holidaying at home and the missus can do the relatives on her own / stay at home and save our money that way. The only good thing to come out of all this madness is some of the most fervent Brexiteers Thai expats are going to get hurt the most and yet cheer it on. What control you are taking back eludes me or any rational analysis. So be it now I'm at the point of nearly past caring about what happens. 

[beautifulthailand99]

On 11/29/2018 at 9:20 AM, dunroaming said:

The chant will be "project fear" as it always is.  Day after day as the folly of Brexit is exposed the Brexiteers always come up with the same response.  Two years on and I am still waiting for them to give us a "project  positive".  Never going to come I suspect as one by one their reasons for leaving are shown to be impossible to deliver.

They have no plans just mindless parrotted memes and a xenophobia pickling the large chip on their shoulder that life didn't turn out well for them so it must be someone else's fault - when they should take a long hard look in the mirror. 

[Grouse]

Apropos of nothing really 

 

Ran into a retired Brit in the pub last night. Army for few years then fireman

 

Retired for 14 years on a pension that allows 45k per month condo in Phuket but spends his time traveling and taking cruises. 6 x three week+ vacations per annum but prefers downhill skiing in Trois Vallais part of Haute Savoie (I prefer Tyrol)

 

It is my opinion that public servants are overpaid. They have total job security, early retirement and gold plated pensions.

 

Look at them all, from head teachers, hospital administrators even bloody engine drivers! Be very wary of Corbyn.

[owl sees all]

32 minutes ago, beautifulthailand99 said:

Keep it going Nontabury you will get that 35baht pound you are so fervently wishing upon yourself and your fellow expats. Myself I'm holidaying at home and the missus can do the relatives on her own / stay at home and save our money that way. The only good thing to come out of all this madness is some of the most fervent Brexiteers Thai expats are going to get hurt the most and yet cheer it on. What control you are taking back eludes me or any rational analysis. So be it now I'm at the point of nearly past caring about what happens.

 

What did Braveheart say in the film as he was on the rack? 'You can pull off my arms and pull out my legs but I will have freedom'.

 

Just like the UK really. A little bit of suffering for a whole heap of FREEDOM.

[My Thai Life]

I haven't waded through all the posts, so It's quite possible that others have said what I'm saying.

 

The BoE's statement was a worst case scenario, not a forecast. And it demonstrates that the UK banking system could withstand this worse case scenario easily. So in that sense it's very positive.

 

Also worth pointing out that the previous BoE Governor, Lord King,  has not been at all supportive or sympathetic to Carney's pronouncements.

 

While it's true that Carney's pronouncements were worst case scenarios, they have been misrepresented by some sections of the press as forecasts. It's astonishing that Reuters has made this mistake too.

 

I assume that most people here know that Reuters' core business is market pricing systems - electronic pricing systems that sit on institutional traders' desks (stocks, bonds, gilts, commodities etc).

 

The economics of the WTO option, which some people called "no deal" or "crashing out", depends entirely on the policies adopted by the UK gov't post Brexit. 

 

The great benefit of the WTO option is that it honours the referendum result. No other current option comes close to honouring the result.

[bristolboy]

37 minutes ago, My Thai Life said:

I haven't waded through all the posts, so It's quite possible that others have said what I'm saying.

 

The BoE's statement was a worst case scenario, not a forecast. And it demonstrates that the UK banking system could withstand this worse case scenario easily. So in that sense it's very positive.

 

Also worth pointing out that the previous BoE Governor, Lord King,  has not been at all supportive or sympathetic to Carney's pronouncements.

 

While it's true that Carney's pronouncements were worst case scenarios, they have been misrepresented by some sections of the press as forecasts. It's astonishing that Reuters has made this mistake too.

 

I assume that most people here know that Reuters' core business is market pricing systems - electronic pricing systems that sit on institutional traders' desks (stocks, bonds, gilts, commodities etc).

 

The economics of the WTO option, which some people called "no deal" or "crashing out", depends entirely on the policies adopted by the UK gov't post Brexit. 

 

The great benefit of the WTO option is that it honours the referendum result. No other current option comes close to honouring the result.

And what happens until the UK is back in the WTO? That could take years.

[billd766]

42 minutes ago, My Thai Life said:

I haven't waded through all the posts, so It's quite possible that others have said what I'm saying.

 

The BoE's statement was a worst case scenario, not a forecast. And it demonstrates that the UK banking system could withstand this worse case scenario easily. So in that sense it's very positive.

 

Also worth pointing out that the previous BoE Governor, Lord King,  has not been at all supportive or sympathetic to Carney's pronouncements.

 

While it's true that Carney's pronouncements were worst case scenarios, they have been misrepresented by some sections of the press as forecasts. It's astonishing that Reuters has made this mistake too.

 

I assume that most people here know that Reuters' core business is market pricing systems - electronic pricing systems that sit on institutional traders' desks (stocks, bonds, gilts, commodities etc).

 

The economics of the WTO option, which some people called "no deal" or "crashing out", depends entirely on the policies adopted by the UK gov't post Brexit. 

 

The great benefit of the WTO option is that it honours the referendum result. No other current option comes close to honouring the result.

It is very unlikely that the post Brexit government will have Teresa May in it anywhere except the back benches.

[SheungWan]

1 hour ago, owl sees all said:

What did Braveheart say in the film as he was on the rack? 'You can pull off my arms and pull out my legs but I will have freedom'.

Just like the UK really. A little bit of suffering for a whole heap of FREEDOM.

Well that's interesting. A Hard Brexiteer referencing a hero of Scottish Independence whom the Brexiteers heartily denounce when they have got a spare minute.

[SheungWan]

13 minutes ago, billd766 said:

It is very unlikely that the post Brexit government will have Teresa May in it anywhere except the back benches.

Well maybe in a Hard Brexiteer dreamland they can imagine all sorts of things.

[SheungWan]

1 hour ago, My Thai Life said:

I haven't waded through all the posts, so It's quite possible that others have said what I'm saying.

Yes. Mostly the same meandering blah predicated on the Hard Brexit conceit that they hold the keys to the meaning of Brexit.

[madmen]

And brits keep saying buy property in the UK and not thailand

 

Well the yanks ate humble pie when their houses got smashed and thailand unaffected. And the headline of this thread could mean the UK will follow very soon with a crisis. If it were me I would be selling property and liquidating stocks NOW! and not when the masses do

 

Australia is already in burst bubble mode.

 

 

 

 

 

 

[nauseus]

13 minutes ago, SheungWan said:

Yes. Mostly the same meandering blah predicated on the Hard Brexit conceit that they hold the keys to the meaning of Brexit.

Still in a good mood then? 

[talahtnut]

What does a remainer think when observing Paris?

Would a remainer be aware of the cause?

I am most impressed with our French brothers

fight against EU diktats.

This unholy EU Tower of Babel will meet the same

fate as the original folly.

 

 

 

[SheungWan]

47 minutes ago, talahtnut said:

What does a remainer think when observing Paris?

Would a remainer be aware of the cause?

I am most impressed with our French brothers

fight against EU diktats.

This unholy EU Tower of Babel will meet the same

fate as the original folly.

I am thinking what drivel some Hard Brexiteers write on occasion.

[tebee]

43 minutes ago, talahtnut said:

What does a remainer think when observing Paris?

Would a remainer be aware of the cause?

I am most impressed with our French brothers

fight against EU diktats.

This unholy EU Tower of Babel will meet the same

fate as the original folly.

 

 

 

The original yellow jacket protests were not against the EU, but about the pressure on working class and middle class disposable income caused by Marcon giving tax breaks to the rich while increasing indirect taxes, cutting payments to the poor and reducing, in their eyes, job security.

 

Now the seem to have been taken over by hard right and hard left groups promoting a very mixed and generally anti-establishment agenda. Cutting taxes by 50% and doubling the number of civil servants as well as leaving both the EU and Nato. 

 

However support for them has crumbled out here in Rural France and the local protests have dried up. Local people seem disgusted at what has happened in Paris and want to disown the protesters there. They don't speck for us seems to be the view, but they are still worried that their own genuine grievances will get lost in the chaos too.

 

There are a lot of parallels with the Conservatives austerity program and how the effects of that were used by people to mobilize in support of Brexit, when what they wanted as an anti-government vote.   

[welovesundaysatspace]

2 hours ago, talahtnut said:

What does a remainer think when observing Paris?

Would a remainer be aware of the cause?

I am most impressed with our French brothers

fight against EU diktats.

This unholy EU Tower of Babel will meet the same

fate as the original folly.

They are fighting against ISIS and vegan hipsters. The pig farmers are hurt heavily by them. Good to see them standing up. It’s the revolution. Down with the non-pigsters. 

[talahtnut]

7 hours ago, tebee said:

The original yellow jacket protests were not against the EU, but about the pressure on working class and middle class disposable income caused by Marcon giving tax breaks to the rich while increasing indirect taxes, cutting payments to the poor and reducing, in their eyes, job security.

Now I understand why people remain. They only have

half the picture.  Who regulates the French economy?

Macron is just an EU corporate sprat with no real power.

May is the same.

The mega rich will own and run the world for their benefit.

[rixalex]

12 hours ago, beautifulthailand99 said:

Keep it going Nontabury you will get that 35baht pound you are so fervently wishing upon yourself and your fellow expats. Myself I'm holidaying at home and the missus can do the relatives on her own / stay at home and save our money that way. The only good thing to come out of all this madness is some of the most fervent Brexiteers Thai expats are going to get hurt the most and yet cheer it on. What control you are taking back eludes me or any rational analysis. So be it now I'm at the point of nearly past caring about what happens. 

Strange that you should mock and question the motives of those who support something which may directly hurt them financially more than others. Seems a bit upside down. I tend to be more suspicious of those who happen to support things that may directly reward them financially, because maybe, just maybe, their support for that thing isn't based on what is best for the country, or for other people, but rather what is best for their back pocket.

 

Do you really think that the value of the Pound is of tantamount importance to someone living on the breadline in Britain? Do you think they have sleepless nights worrying whether it will be 35 Baht to the Pound?

[brewsterbudgen]

52% 0f the people that voted, would thank you for that congratulatory message

I bet most will be regretting their vote if we crash out. Many already are.

Sent from my SM-G930F using Thailand Forum - Thaivisa mobile app

[SheungWan]

10 hours ago, madmen said:

And brits keep saying buy property in the UK and not thailand

Well the yanks ate humble pie when their houses got smashed and thailand unaffected. And the headline of this thread could mean the UK will follow very soon with a crisis. If it were me I would be selling property and liquidating stocks NOW! and not when the masses do

Australia is already in burst bubble mode.

The Brits as a homogeneous group say no such thing. As for UK property now rewinding some impressive advances. US property has staged some substantial recoveries since the financial crisis. The biggest mistake would have been to sell unless forced to at the time. Australia? again a rewind right now. The usual crew thinking its Armageddon every time property prices reverse.

[rixalex]

4 minutes ago, brewsterbudgen said:

I bet most will be regretting their vote if we crash out. Many already are.

Sent from my SM-G930F using Thailand Forum - Thaivisa mobile app
 

EU have hardly covered themselves in glory throughout this debacle. Many regretting voting to remain.

[SheungWan]

2 minutes ago, rixalex said:

EU have hardly covered themselves in glory throughout this debacle. Many regretting voting to remain.

That would be your mates in the boozer across the road.

[BritManToo]

Can't see Brexit as doing more harm than staying in.

France has an almost open insurrection.

Spain is holding itself together by the jackboots of the police, and everyone is unemployed.

Italy is bankrupt.

Germany is in financial meltdown while trying to defend itself from Muslim immigrants. 

Greece is destroyed.

 

In fact, the pound should be doing very well against the Euro as it appears to be the most stable country in the EU.

But I guess our Globalist Multicultural socialist overlords are punishing us for daring to publicly dissent.

[SheungWan]

16 minutes ago, BritManToo said:

Can't see Brexit as doing more harm than staying in.

France has an almost open insurrection.

Spain is holding itself together by the jackboots of the police, and everyone is unemployed.

Italy is bankrupt.

Germany is in financial meltdown while trying to defend itself from Muslim immigrants. 

Greece is destroyed.

In fact, the pound should be doing very well against the Euro as it appears to be the most stable country in the EU.

But I guess our Globalist Multicultural socialist overlords are punishing us for daring to publicly dissent.

Usual Conspiracy Theory mush accompanied by an old-school dog-whistle last sentence.

[talahtnut]

9 hours ago, SheungWan said:

I am thinking what drivel some Hard Brexiteers write on occasion.

R2D2 activated.

[evadgib]

 

[SheungWan]

35 minutes ago, evadgib said:

 

From nanny to taxidriver. 

[My Thai Life]

Some interesting points abour WTO terms:

 

- WTO is just the starting point, not the end-point

- WTO is just free trade, actually the free-est of free tade

- most of the world operates on WTO rules

- WTO rules would allow us to operate with frictionless zero tariff imports from the EU in key sectors if we chose to

- WTO rules would allow us to reduce costs of imports in key sectors, notably food

- following on from the previous point: we currently pay a huge amount to import food from the EU - in the form of CAP subsidies, these disappear with WTO (tariffs always need to be considered together with subsidies, quotas and non-tariff barriers)

- WTO does not require a hard border in Ireland, and renders the backstop discussion irrelevant

- WTO allows the 39 billion to be used at home

- WTO is available now - this is an important point - one thing we can all agree on is that much of the last 2 years has been wasted - WTO would bring that to an immediate end

- WTO would put the UK in a much stronger negotiating position for future EU talks

- currently the UK trades with 24 countries and territories under WTO rules alone. 

- currently the UK sends to the EU 80% of the tariffs on imports from 3^rd countries, with WTO we keep 100% of the tariffs collected.