The main drivers of inflation form the figures released today were, petrol and clothing. No material impact of the weakening pound on inflation yet, but inevitable in the coming months.
Brexited | the worst threads live the longest
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In the latest episode of the United Hour Podcast, Nik (@Rood) is joined by CEO Duncan Drasdo and Financial Director Andy Green from the Manchester United Supporters Trust for a special episode on all things behind the scenes at Old Trafford including a brief history of MUST and their aims today, views on INEOS and Sir Jim Ratcliffe so far, and the Old Trafford regeneration.
Absolutely. The sequence of events just won't sink in for people. It didn't before the referendum and it hasn't now.
The EU will not negotiate before article 50. Once we have invoked article 50 it is irrevocable, we have to leave, although we do have two years to agree terms, if the EU are willing to, that is.
Parliament's only choice will be whether to ratify any agreement as negotiated, or whether to leave without one, and submit to all that entails.
All May can do now is to decide what terms she will be asking for after invoking the article, which will be neither here nor there anyway if the EU dismiss them as without interest.
Though the fact that petrol is traded in $ and most clothes are manufactured abroad and have typically a short lead time thus the input costart get passed on quicker so I'd argue that they are rising so much because the pound is going down the toilet
I thought that post had killed the thread for a while. Brexit must be the only thing that doesn't cause cancer in DM-land.
So Brexiters are promising cheaper food, I assume by opening up the UK to cheaper non eu imports, but this will endanger British farmers whom the Brexiters have a hard-on for. Which group will they let down first?
Those were mentioned too, although LBC did also refer to hotels and sterling in their coverage of the story.
Considering UK is pretty tight with tourist visas, the EU exit will deal a big blow to the tourism industry as well. You might see a few chains pull out slowly or reduce their presence which again bites the lower wage workers. There's really a lot that's not being factored into the models, if there are any.
I fully expect visa-free or low-cost visas, to be part of whatever deal we reach with our European neighbours. The demand exists for mroe reasons than the EU, and right now the low price of the pound is encouraging more visitors.
Given the government's record I expect they'll demand bank statements, accommodation and itineraries before granting Visas, so the EU will demand the same
Interesting opinion on free trade in the Guardian
https://www.theguardian.com/comment...e-broken-idea-elites-deals-ceta-ttip-economic
https://www.theguardian.com/comment...e-broken-idea-elites-deals-ceta-ttip-economic
Nowt wrong with the article Stan, and I'm sure the central Eurocrats negotiating CETA and TTIP are every bit as bent and self interested as the big corporations such agreements are designed to suit. What I disagree with is this notion that we are somehow safer from these agreements by taking back control.
I have little to no faith in any politician but trust the cynical power of the 27 EU bloc vetoes that there will always be somebody who objects to something allowing the rougher edges of these deals to be knocked off before they are allowed to do us too much harm. I have absolutely zero faith however in cretins like Boris going into solo negotiations with big business in Canada or the US and retaining any degree of protection for the common man, be that a UK consumer endangered by dodgy ingredients the US FDA overlooks or a Bangladeshi sweatshop worker employed by a multinational in breach of EU anti exploitation legislation. Boris will sign up to whatever the US or Canada throw at him without even reading it and we will all reap the consequences for generations to come.
And I have zero tolerance for corporate protection, zero
There was little prospect of the EU 27 passing TTIP, the UK alone however will, and a worse deal as we've nowhere near eqaul to the US
So economic protectionism is good but not when it extends to the labour force, even if it is a points based immigration system?
The EU is already contemplating such measures for UK travellers, irrespective of Brexit. Our non-Schengen status is the club they are using against us there.
Did Theresa May post that?
It will be difficult to provide satisfaction if our Brexit isn't sufficiently hard.
David Davis.
Did Theresa May post that?
No, it is not. People who are argue for protectionism on the basis that it helps the economy are completely clueless. It is like saying climate-change is a hoax. Economists know very little, but that is one of the 2-3 establish facts: Free trade creates prosperity.
Now these trade deals are very imperfect, because in many ways they are not free-trade deals but “trade-management-deals”. They advance free-trade but they also do other things for good and bad reasons. Simple free-trade deals would be a very good start (abolishing all tariffs and quotas), but in a world where government interferes in every step of national economies, more cooperation and harmonization of rules makes sense.
I have no problem if anyone comes to the conclusion to oppose a specific trade deal. That can be entirely reasonable, but not on the basis, that free trade is a bad thing. The protectionist rhetoric that re-emerges at the moment (advanced both by the left and the right) is based on a mercantilist world-view that was disproven 300-400 years ago.
What kind of person bothers to post on the mail?
Have you never read their comment section? That's pretty par for the cause, albeit they left out the word 'pinko' before 'lefties'.
The sort of person who, usually, exclusively writes in their own shit. Consider it progress.
UBS: Sterling will recover by 2017
http://uk.businessinsider.com/ubs-pound-set-to-recover-by-2017-2016-10?r=US&IR=T
What?! Noooo! What will the Remoaners complain about then?!!
http://uk.businessinsider.com/ubs-pound-set-to-recover-by-2017-2016-10?r=US&IR=T
What?! Noooo! What will the Remoaners complain about then?!!
I hope for his own good that he is not trading on this advice.
I've learnt my lesson from pre-Brexit predictions
When in 2017 we won't still have any idea what Brexit would look like.
So basically UBS predict the pound will gain 14 cents against the USD between January and October 2017 but only 2 pence against the Euro in the same period. Hmm.
Luckily though they also provided 3, 6 and 12 month predictions, so we get to laugh at them 3 times instead of just once.
Nobody has the time to fact-check all these predictions.
1: Make bold statements with extreme confidence (“I can predict ΔGDPGBR for the next 21 years correct to nine decimal places.”)
2: Forget about it unless you get it right. If that is the case, you need to rub it in.
3: If someone is so petty to point out, that you got it wrong: Explain why your prediction was still kind of correct (in theory) and that you couldn’t have known otherwise. (“The wrong prediction just proves that I really understand what I am talking about.”)
4: Repeat these steps as often as possible. It is a numbers game. Getting it wrong 9/10 times doesn’t matter.
2: Forget about it unless you get it right. If that is the case, you need to rub it in.
3: If someone is so petty to point out, that you got it wrong: Explain why your prediction was still kind of correct (in theory) and that you couldn’t have known otherwise. (“The wrong prediction just proves that I really understand what I am talking about.”)
4: Repeat these steps as often as possible. It is a numbers game. Getting it wrong 9/10 times doesn’t matter.
I'd expected there to be different phases to all this. This phase could be like the Phoney War. Things are happening off-stage, plans are being laid down for next year. If the s*** is going to hit the fan, surely it'll begin after Article 50 has been invoked and get worse when the conditions set by the EU, if they go for an even harder Brexit, are made public. Finally, how much everything affects the UK and its response to the challenges which will arise.
I also think that the focus has been mainly on the economics of the situation but there is another aspect which will kick in, for better or worse, later. The politics.
I also think that the focus has been mainly on the economics of the situation but there is another aspect which will kick in, for better or worse, later. The politics.
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MPs elect Hilary Benn to chair Brexit select committee
Prominent remain campaigner easily wins vote to chair committee, with Yvette Cooper to head home affairs select committee
https://www.theguardian.com/politic...-hilary-benn-to-chair-brexit-select-committee
And some have wondered why much of the Commons isn't trusted on EU policy. They don't even have the perception or humility to decide upon a Leave representative which they respect.
Prominent remain campaigner easily wins vote to chair committee, with Yvette Cooper to head home affairs select committee
https://www.theguardian.com/politic...-hilary-benn-to-chair-brexit-select-committee
And some have wondered why much of the Commons isn't trusted on EU policy. They don't even have the perception or humility to decide upon a Leave representative which they respect.
Good.
It's a bit like asking a Scotsman to pick the England team, he'd probably pick something better than we have.