Goodbye Brussels, hello Burnley.

[fred]

The spirit on this occasion I would maintain is that we went in as the result of a referendum so a referendum to leave is valid in its own right.

Sorry but I can't agree with that!

many people appear to confuse social democracy with constitutional democracy

 

[WelshGas]

Sorry but I can't agree with that!

Of course you don't. Wouldn't expect anything else.

 

[Amarillo]

However my global / US stock is up about 12%.

I have little in savings - but have seen my sons' child ISAs climb by about 9%.

As most of my clients are non UK, I have seen sales climb as the pound falls.

About 20% of the value of my businesses is debt, I should enjoy lower interest rates for longer.

I expect the value of my properties to fall.

 

[Flood51]

I hesitate to come back in on this thread but it is not inconceivable that we will all be financially better off after things have settled down. Even Fred must be happy that we can kill "Solvency II" which will hit the insurance industry in the EU to the benefit of London.

Tom once set me straight on the education premium that we gain from hard working Europeans coming to our country but this doesn't take into account the high cost we pay for EAL pupils of the children they bring, quite properly with them.

I think in short Cameron asked for very little from the EU and got shot down in flames for his trouble. The idea that you can make changes by staying in is self evidently ludicrous. It all could have been avoided if the unelected officials at the EU had listened to Cameron's genuine concerns. Anyway on the plus side Cameron has gone and we are out.

 

[Flood51]

I bet Dave & Sam spends the next few weekends he's got at Chequers while he still can

 

[Flood51]

Last point, has anyone noticed the discrepancy between members listed on line and members online by name ? I've noticed that since this EU BS started some members would prefer to not advertise they are online. Fear of abuse maybe

 

[pjm-84]

Nope but I cant say I've looked.

 

[T6 CFO]

Last point, has anyone noticed the discrepancy between members listed on line and members online by name ? I've noticed that since this EU BS started some members would prefer to not advertise they are online. Fear of abuse maybe

Sorry but I'm afraid that's a bit OTT. There's some heated debate amongst some, me included, but I can't believe what your suggesting. I also don't believe there will be any carry over to any other thread on Cali issues or any meets. I would positively favour a pint and chat with one or two I have been in disagreement with. It would be pretty boring if we all agreed and hardly representative of the country.

Now bike rack or tow bar rack etc etc then you'd be talking


Mike

 

[Flood51]

Just saying right now there are 10 members who have elected to hide the fact they are online. So to you its OTT but to some it isn't.

 

[T6 CFO]

Sorry but I only gave an opinion. I presume if you do not login you are not shown but anonymous ?


Mike

 

[Flood51]

You can log in but elect not to be shown your logged in like I do. I changed the setting after I was labelled as a racist by some of the lovely remain contributors.

But as a Palace supporter I would not have expected anything better from a Spurs supporter.

Phil ;-)

 

[BerndRos]

Last point, has anyone noticed the discrepancy between members listed on line and members online by name ? I've noticed that since this EU BS started some members would prefer to not advertise they are online. Fear of abuse maybe

Ridiculous....are you scared of your own shadow....

 

[pjm-84]

Just spotted it. You have a tick under settings to show online status. Now you see me, now you don't.

 

[pjm-84]

Well you do because I cant be bothered.

 

[Flood51]

T

 

[Amarillo]

Tom once set me straight on the education premium that we gain from hard working Europeans coming to our country but this doesn't take into account the high cost we pay for EAL pupils of the children they bring, quite properly with them.

Primary schools with pupils who have English as an addition language receive £466 per pupil for three years.

Secondary schools with pupils who have English as an addition language receive £1,130 per pupil for three years.

The cost, therefore, to the taxpayer of each migrant under 11 for additional language support is £1,398 and for over 11s is £3,390.

The average cost of educating a child through the state school system was £22,500 in 2013, according to the Telegraph.

8% of non-UK born residents in the UK are aged 0-16.

As a very rough approximation, the average cost to the taxpayer of educating a non-UK born resident 0-16 is 10% higher than a UK born resident. But let us not forget that the cost to the British taxpayer of educating their parents is nil or close to nil.

 

[T6 CFO]

You can log in but elect not to be shown your logged in like I do. I changed the setting after I was labelled as a racist by some of the lovely remain contributors.

But as a Palace supporter I would not have expected anything better from a Spurs supporter.

Phil ;-)

Phil honestly I would not worry about it.
I'm still on medication after last season and will replace my avatar when I have my Cali


Mike

 

[Flood51]

I am not worried.

 

[Flood51]

T6

 

[Keith Smith]

I've noticed on other forums I go on that a good number hide their online status, not sure why, but I wouldn't read too much into it.

 

[pjm-84]

Never been called a troll before.....wow. My post was jovial and I'm sad you didn't see it that way.

 

[T6 CFO]

T6 CFO a Beach or Ocean ? I think if I had a young family again I would opt for a beach. Plus I could get yellow.

An Ocean but I agree. Just me and the wife now so an ocean. With a young family yes a beach and I love the yellow. Gone for indium grey but with yellow accessories inside to give it some bling.


Mike

 

[fred]

I am not worried, Cali, money in the bank, Palaces place secure, no worries

SOUTH LONDON AND PROUD OF IT

actually you can get jellied eels in Greenwich so I am led to believe.

Make sure you pull up that ladder behind you.

 

[Velma's Dad]

Sorry but I can't agree with that!...many people appear to confuse social democracy with constitutional democracy

Sorry Fred but I haven't a clue what you're on about here and I suspect others are in the same boat. What does the difference between social and constitutional democracy have to do with Mike's observation that (to paraphrase him, I hope correctly) we used a referendum to choose whether to join the EU in the first place, so it seems fair to accept the result of another referendum to come out?

 

[fred]

I hesitate to come back in on this thread but it is not inconceivable that we will all be financially better off after things have settled down. Even Fred must be happy that we can kill "Solvency II" which will hit the insurance industry in the EU to the benefit of London.

No. Solvency II (and Basel III and a host of other ECB directives are there to make sure financial services companies keep enough capital to respond to significant changes in markets, to prevent another government bailout of the industry. The BoE has already had to abandon some of that to manage the crisis, easing rules on net capital for banks until 2017 in order to keep money flowing.

I think I've made my expectations pretty clear in the past on the previous thread. We will see sterling hit $1.10*, high interest rates to service UK debt, and that coupled with a mass exodus of entrepreneurs and investors (which keep this country going economically whether you like it or not) means that I think the UK is looking at an IMF bailout by around 2019.

* this means a 30-40% haircut on everyone's savings, pensions and property.

In the near term, taxes wil be going up. You can expect income tax up by 2-3%, perhaps VAT up by 2%, and likely pension fund contributions to be cut and inheritance tax to rise. Corporation tax will have to come down by 3-5% to try to stem the capital flight but it won't be effective enough.

If anyone wants to point out that the ftse 100 is marginally up, then you clearly have no idea how markets work. The ftse 100 is mostly international companies and anyway the index just got 20% cheaper due to currency devaluation.

In the past I've been accused of scaremongering or being overly dramatic, particularly when I said that leave voters would be voting for sovereignty over a bankrupt little island. Not only do I stand by this but a combination of the political and constitutional turmoil since the referendum has made me even more certain that the UK is in economic free fall.