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[Trumpets]

Meanwhile, in the real world, the speech was generally well received, the pound went up and everyone moaning that the government weren't giving enough detail now have it.

Coincidentally, unemployment also went down by 50,000.

The level of gloom in these Brexit threads never ceases to amaze and amuse me.

 

[SKINNER!]

Your house prices are also 10x those of Wales, and yet wages aren't. The living standard for people in London who aren't on megabucks is horrible.

Preach brutha Preach!

 

[Miles Quaritch]

Lol at trumpeting unemployment figures.

 

[Honey Bunny]

Posting in an easy format to point and laugh:

Quite ironic that they're using the imagery of an english cultural export though.

 

[-Plasma Reus-]

Meanwhile, in the real world, the speech was generally well received, the pound went up and everyone moaning that the government weren't giving enough detail now have it.

Coincidentally, unemployment also went down by 50,000.

The level of gloom in these Brexit threads never ceases to amaze and amuse me.

Unemployment going down has nothing to do with a speech.
Unemployment rates are affected by policies and changes put in to place at least many months prior.
The definition of unemployment is also not clear. In this current government's definition, unemployment does not include those who have given up on the job market and are no longer looking for work. So this 50,000 could potentially be a really bad thing, because it would mean people have stopped looking for work and have stopped claiming ESA.

 

[TimmmV]

Meanwhile, in the real world, the speech was generally well received, the pound went up and everyone moaning that the government weren't giving enough detail now have it.

Coincidentally, unemployment also went down by 50,000.

The level of gloom in these Brexit threads never ceases to amaze and amuse me.

 

[RedSparrows]

Meanwhile, in the real world, the speech was generally well received, the pound went up and everyone moaning that the government weren't giving enough detail now have it.

Coincidentally, unemployment also went down by 50,000.

The level of gloom in these Brexit threads never ceases to amaze and amuse me.

Unemployment went down because of the speech, or because our economic system, currently embedded in the EU, actually works alright at points?

Also, what's the 'real world'?

 

[Trumpets]

Unemployment going down has nothing to do with a speech.

Hence my cunning use of the word 'coincidentally'.

 

[Number45]

What are you basing "the speech was generally well received" on, out of curiosity?

 

[-Plasma Reus-]

It is interesting how last I checked, unemployment didnt include people who are no longer seeking work and have given up. You know, actually unemployed people.

Every time you hear unemployment figures, ignore it because it is of no use with regard to those who are out of a job.

 

[GAMEPROFF]

Quite ironic that they're using the imagery of an english cultural export though.

Thats the joke

 

[kmag]

The pound may still be up but its slowly slipping backdown as the market is digesting the analysis of what she actually said. It's back to $1.22 now

 

[QuicheFontaine]

Meanwhile, in the real world, the speech was generally well received, the pound went up and everyone moaning that the government weren't giving enough detail now have it.

Coincidentally, unemployment also went down by 50,000.

The level of gloom in these Brexit threads never ceases to amaze and amuse me.

Me too. People posting the live USD/GBP rate are going to end up looking as daft as everyone pointing at the FTSE 100 the week after the referendum.

 

[Joni]

As usual Brexit hasn't happened yet. The British have not even informed the EU. The parliament has not even passed a Brexit bill yet.

 

[Auctopus]

The pound may still be up but its slowly slipping backdown as the market is digesting the analysis of what she actually said. It's back to $1.22 now

I'm going to New York in February and I don't know whether to take the hit now and exchange currency or pray it climbs slightly before then. The problem is, May could just say something meaningless again the day before I get my money and it'll drop again.

 

[iapetus]

Do you have a source for the claim in your first sentence?

Common sense and anecdotal evidence. If you accept that some people voted to leave with the expectation of a soft Brexit, then it follows automatically. I don't know what that fraction is, but it doesn't need to be that small before you have a majority of people not wanting what we see now - hard Brexit - given how slim the margin of victory was for leave. To say otherwise you'd have to believe that everyone who voted leave was all in for hard Brexit, and anyone who wanted soft Brexit voted to remain. Do you believe that?

 

[Huw_Dawson]

Me too. People posting the live USD/GBP rate are going to end up looking as daft as everyone pointing at the FTSE 100 the week after the referendum.

The overall trend after we voted Leave has been downwards. This will contribute to rising inflation, making you poorer in the long run.

 

[Zaph]

Meanwhile, in the real world, the speech was generally well received, the pound went up and everyone moaning that the government weren't giving enough detail now have it.

Coincidentally, unemployment also went down by 50,000.

The level of gloom in these Brexit threads never ceases to amaze and amuse me.

May I ask what your "real world" is? Is it your local pub and newspaper by chance?

Because in my "real world", businesses are circling the wagons in preparation for a hard Brexit, senior employees are being asked about relocation options, our satellite studios outside London still haven't had their leases renewed, and there are fortnightly trips to the continent to check out office space (completely unrelated - but Paris was lovely last week, bit foggy though).

But yeah, it's just gaf.

 

[Alx]

Honestly I thought May's position is as good as it gets. Sure it means going for a hard Brexit, losing most benefits from EU and starting all commercial deals from scratch, but it is the only realistic position once they decide to go with the result of the referendum. All the other "have your cake and eat it" strategies were delusional from the beginning, at least she's tacitly admitting that.
It still means the task will be hard and dangerous, but it's better to go there prepared and aware of it, rather than full of false hopes/promises.

 

[Roberto Larcos]

Honestly I thought May's position is as good as it gets. Sure it means going for a hard Brexit, losing most benefits from EU and starting all commercial deals from scratch, but it is the only realistic position once they decide to go with the result of the referendum. All the other "have your cake and eat it" strategies were delusional from the beginning, at least she's tacitly admitting that.
It still means the task will be hard and dangerous, but it's better to go there prepared and aware of it, rather than full of false hopes/promises.

Single market access without any concessions regarding free movement of people or membership fees whatsoever - when key figures have stated time and again that this won't be happening. Yep, realistic. Definitely not having cake and eating it too.

 

[Starwolf_UK]

PMQs is on. I'm sure Jeremy will talk about the NHS instead of Brexit.

Realistically, we are looking at the UK becoming a tax haven with diminished workers' rights in the next 5 years, aren't we...

We're leaving the G7 too? Makes all the boasting about being the best G7 nation kind of worthless...

 

[kmag]

May I ask what your "real world" is? Is it your local pub and newspaper by chance?

Because in my "real world", businesses are circling the wagons in preparation for a hard Brexit, senior employees are being asked about relocation options, our satellite studios outside London still haven't had their leases renewed, and there are fortnightly trips to the continent to check out office space (completely unrelated - but Paris was lovely last week, bit foggy though).

But yeah, it's just gaf.

The consensus is that the labour market is slowing. The unemployment figures today actually missed the consensus estimate.

 

[Rodelero]

Me too. People posting the live USD/GBP rate are going to end up looking as daft as everyone pointing at the FTSE 100 the week after the referendum.

Part of the reason it's difficult to be positive about Brexit, for me, is that I can barely listen to a Brexit supporter for a minute without them saying something that implies a severe lack of understanding. Your comment here, for example...

Since the referendum, the rise/fall of the FTSE 100 has been largely governed by the rise/fall in the pound. One (the pound) is dictating the other (the FTSE 100). The pound has dropped because of Brexit and there is -no evidence whatsoever- that it's going to go back to anywhere near where it was back before the vote. It's lost a significant proportion of the gains from yesterday already, and we're not far off where we were at the beginning of this week.

The fall of the GBP has been -the- economic story of the last few months in this country. The rise of the FTSE was a consequence of the fall in GBP. Read the FTSE value in dollars, (or euros, if you wish), rather than pounds, and you realise that people talking up the rise in the FTSE were either deeply misled or trying to mislead. Noting the fall in the pound, and worrying about the consequences, is, on the contrary, deeply reasonable.

This is my problem. I have long accepted that Brexit is going to happen, and that it's going to be a hard Brexit. I want to believe that it's not going to be a disaster for my country. I'd like, therefore, to hear sensible statements from those responsible for this situation. I want to hear sensible statements from the Conservative government, but they increasingly sound like UKIP did a few months ago. I want to hear sensible statements from Brexit voters and supporters, but I continue to hear the same tripe I was hearing before and immediately after the referendum. I want to be positive about this country's future: I am not.

 

[QuicheFontaine]

The overall trend after we voted Leave has been downwards. This will contribute to rising inflation, making you poorer in the long run.

Nope. I just bought a house - inflation is good for me as my debt will relatively reduce.

 

[SKINNER!]

Nope. I just bought a house - inflation is good for me as my debt will relatively reduce.

Check 'em out! The 1% here.

 

[Meadows]

oh shit, May bringing the fire

 

[Rodelero]

Nope. I just bought a house - inflation is good for me as my debt will relatively reduce.

I'm sorry. I'm slightly before the house buying phase... so maybe I'm missing something:

If inflation rises, interest rates will almost certainly rise too, making your mortgage more expensive (beyond the fixed term)

If inflation rises, the things you buy will cost more and you will have less to pay your mortgage with.

If, and only if, your wage rises, if we have -wage inflation- which doesn't necessarily correlate with inflation (e.g. in the case that inflation is caused by the currency falling through the floor and imports rising), will your debt seem to have relatively reduced.

 

[kmag]

Nope. I just bought a house - inflation is good for me as my debt will relatively reduce.

Only if your wages keep up with inflation.

 

[Starwolf_UK]

May, can you answer a question without insulting the person or the party who asked it?

 

[Uzzy]

May, can you answer a question without insulting the person or the party who asked it?

May: No I can't you idiot.

 

[TimmmV]

Nope. I just bought a house - inflation is good for me as my debt will relatively reduce.

Thank god the house is your only expense!

 

[Zaph]

May, can you answer a question without insulting the person or the party who asked it?

Her implication that opposition is against the better interests of the UK is dangerous.

Not that she has much to worry about with Labour though.

 

[Starwolf_UK]

Nadine Dorris: "....pound highest in two years..."

Good god I can't believe an elected MP just said that. May answers with an insult to labour (and implies if it goes wrong its their fault, the fuck)

 

[Rixa]

Part of the reason it's difficult to be positive about Brexit, for me, is that I can barely listen to a Brexit supporter for a minute without them saying something that implies a severe lack of understanding. Your comment here, for example...

Since the referendum, the rise/fall of the FTSE 100 has been largely governed by the rise/fall in the pound. One (the pound) is dictating the other (the FTSE 100). The pound has dropped because of Brexit and there is -no evidence whatsoever- that it's going to go back to anywhere near where it was back before the vote. It's lost a significant proportion of the gains from yesterday already, and we're not far off where we were at the beginning of this week.

So much info in this post. About Pound vs Euro, everyone can google it and see the same thing you wrote.

Pound going down against Euro.

 

[Beefy]

@b_judah

Boris Johnson comparing the French President to a pantomime Nazi villain. Behaviour of a mature, global, trader.

@peterallenparis
And all Hollande said - very reasonably - is that Britain can't expect a better EU deal outside the EU than it has inside the EU.

https://twitter.com/peterallenparis/status/821679843729440769

 

[mrklaw]

Common sense and anecdotal evidence. If you accept that some people voted to leave with the expectation of a soft Brexit, then it follows automatically. I don't know what that fraction is, but it doesn't need to be that small before you have a majority of people not wanting what we see now - hard Brexit - given how slim the margin of victory was for leave. To say otherwise you'd have to believe that everyone who voted leave was all in for hard Brexit, and anyone who wanted soft Brexit voted to remain. Do you believe that?

one of the problems is that it was a simple question, and people will have voted based on a variety of expectations as to what they intepreted the question to mean.

- some will have thought 'no more straight bananas'
- some will have thought 'kick out the foreigners'
- some will have thought 'I dont' want a federal Europe'
etc.

so there is almost literally no way to know for sure what 'leave' actually means. That also means the government can't simply say 'the voters voted for Brexit and they want a hard brexit and a stop to freedom of movement blah blah' because they don't know that.

But of course government will government and put words in peoples' mouths and make assumptions to satisfy their own ends.

 

[nature boy]

It's like there wasn't a big speech on Brexit yesterday.

What's the point of PMQs

 

[sasliquid]

That's highly unlikely. The most well educated rise to the top regardless of circumstances, and in a country that is going to be ever more divided, and ever more unequal (whatever Theresa 'Fairness' May thinks), this will be ever more true.

The young, on the other hand, undoubtedly stand to suffer the most. Even then, the young, well educated, will be okay, and the young, with wealthy parents, will be okay. Everyone else? Eek.

Sorry I meant voted mostly against it, not the suffer most part

 

[danowat]

Nope. I just bought a house - inflation is good for me as my debt will relatively reduce.

I'm interested in seeing your working's out on that one.

 

[QuicheFontaine]

Check 'em out! The 1% here.

I think more than 1% of people in the UK own homes lol

 

[Zaph]

@b_judah

Boris Johnson comparing the French President to a pantomime Nazi villain. Behaviour of a mature, global, trader.

[IMG ]https://pbs.twimg.com/media/C2ctm9HXEAAYBEc.jpg[/IMG]

@peterallenparis
And all Hollande said - very reasonably - is that Britain can't expect a better EU deal outside the EU than it has inside the EU.

https://twitter.com/peterallenparis/status/821679843729440769

Club benefits apply to club members only.

Isn't that the point of a club? Or is it just my Nazi logic?

 

[RenditMan]

@b_judah

Boris Johnson comparing the French President to a pantomime Nazi villain. Behaviour of a mature, global, trader.

@peterallenparis
And all Hollande said - very reasonably - is that Britain can't expect a better EU deal outside the EU than it has inside the EU.

https://twitter.com/peterallenparis/status/821679843729440769

Am I missing something, I'm not seeing the word Nazi in BJ's quote?

 

[Easy_D]

Am I missing something, I'm not seeing the word Nazi in BJ's quote?

Key words: "escape from" and "WWI Movie". Who would you typically escape from, in a WWII setting? Sometimes you have to read between the lines

 

[GamingKaiju]

Boris Johnson invoking Godwins Law.

I think BoJo is referring to the constant calls from Francis Hollande that the UK should be punished. Which he has multiple times. I'm going against Gaf on and say I agree with him. Why punish the UK? It's everyone's interest to get a good deal.

GbpvsUsd is pricing in a hard Brexit now. Once Art.50 is triggered it'll be interesting to see where investors think the UK is heading. I feel that might be bullish.

I don't understand the posts that the UK is an embarrassment ATM. Sure after the Ref there was a lot going on but right now the UK is starting to show its strength and I'm feeling optimistic about the future. If anything I feel that the EU (Hollande) had been more embarrassing lol

 

[QuicheFontaine]

I'm interested in seeing your working's out on that one.

No probs.

My home is worth £110, I put up a deposit of £10 and have a debt of £100 in the form of a mortgage. I have a salary of £20.

Now, imagine that there's high inflation, and that 2020 pounds are worth half what 2017 pounds are worth.

As long as my salary increases with inflation, I'll be getting paid twice the number of pounds in 2020 (i.e. a salary of £40). But! the mortgage debt is still fixed at £100!

So, the debt has reduced by half

 

[Huw_Dawson]

Nope. I just bought a house - inflation is good for me as my debt will relatively reduce.

And you only ever holiday in the UK, I'd bet, so you don't care how low the pound goes. And you won't be putting money in savings accounts either, so you won't care that the value of your savings will decrease. And you exist entirely off of your allotment's carrots, so you don't care about fuel prices, the cost of food in supermarkets or anything like that. And your nice new house has its own private security team, so you don't care that inflation making things harder for your fellow Brits will lead to a rise in the chance of you being a victim of crime?

"I just bought a house so this means my mortgage will be cheaper" looks alright on paper, but if the pound doesn't recover soon, you are going to feel the impact no matter how nice your newly-bought ivory tower is.

 

[Lego Boss]

Key words: "escape from" and "WWI Movie". Who would you typically escape from, in a WWII setting? Sometimes you have to read between the lines

Russians? Italians? Japanese?

I think Boris is a tool, but he didn't use the word Nazi (at least not in that quote).

 

[mclem]

Key words: "escape from" and "WWI Movie". Who would you typically escape from, in a WWII setting? Sometimes you have to read between the lines

Clearly, the darkest secret never before revealed: It is, in fact, Boris Johnson Blazkowicz.

 

[RenditMan]

Key words: "escape from" and "WWI Movie". Who would you typically escape from, in a WWII setting? Sometimes you have to read between the lines

A POW camp? Every participating country had them. Nazi Germany took them to beyond the next level granted, but still, POW camps were a universal thing.

Difficult to manufacture offence with that one.

 

[Easy_D]

Russians? Italians? Japanese?

I think Boris is a tool, but he didn't use the word Nazi (at least not in that quote).

Eh, I'll have to agree with you. Regardless, that they think they'll be getting as good a deal as they had while being a member state is ridiculous no matter how you look at it.