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Brexit update: Pound has dropped EVEN LOWER than post-Brexit low Watch

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    (Original post by JordanL_)
    Maybe you could explain how hiring freezes, stocks crashing and the pound dropping are stupid? Tell that to the people thinking we'd save £350m/week for the NHS.



    Yep, and if the Bank of England have to inject £250bn into the economy, that indicates serious problems. You seem to think that they just throw some money at it and it goes away. It doesn't.
    They don't have to inject it, it's there as a safety precaution should things go drastically wrong further down the line. Precautions have been taken, plans have been made. Stop panicking. Nobody's dying.

    (Original post by JordanL_)
    Brexiteers showing their true colours. Vicious xenophobes, liars, and all round *****.
    Ah yes, I'm a vicious xenophobe because I disagree with you. While we're at it, how about you accuse me of being a racist, too?

    (Original post by *Stefan*)
    Let's see how 'democracy' (with a House of Lords, Monarchy and an almost empty government now) is worth the devastating effects the economy is suffering. Mind you, this was simply a referendum. Wait till the UK actually leaves.

    The BoE has not 'set aside' 250bn - they literally created money out of thin air. What does this mean? The economy is wrecked.
    The House of Lords is something which I oppose, and I totally agree that it's an opposition to complete democracy. However, one step at a time. Plus, measures are in place to remove these peers should they obstruct legislation in such obvious and obnoxious ways.
    The monarchy is constitutional and has no say over matters of government, the Queen is a mere figurehead who helps in global issues and our tourism industry.
    The government is currently in a period of shock and soon, reform, after realising they're out of touch with 52% of the public.

    They haven't created money out of thin air, did you not listen to Mark Carney? Remain voters seem to listen to him all the time, so you might as well pay attention to him now.
    The economy is not wrecked - it is in a short-medium term decline because of the fear instilled in investors and financial workers by the Remain camp.
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    (Original post by *Stefan*)
    How is it stupid?

    You call facts stupid now because they've proven how utterly wrong and easily deceived you lot are?

    Right.
    ¯\_(ツ)_/¯
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    (Original post by JordanL_)
    Brexiteers showing their true colours. Vicious xenophobes, liars, and all round *****.
    I'm not going to get involved in petty name-calling with immature teenagers. I just wish you would please stop clogging up TSR with your inane drivel.
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    (Original post by thephysio)
    The House of Lords is something which I oppose, and I totally agree that it's an opposition to complete democracy. However, one step at a time. Plus, measures are in place to remove these peers should they obstruct legislation in such obvious and obnoxious ways.
    The monarchy is constitutional and has no say over matters of government, the Queen is a mere figurehead who helps in global issues and our tourism industry.
    The government is currently in a period of shock and soon, reform, after realising they're out of touch with 52% of the public.
    This is rather tragic. You argue you want democracy, and then say the Government is out of touch with the public. What exactly do you think democracy is? It'll manifest itself and provide you with whatever you want?

    And how can you call this malarkey a democracy when so many people don't even understand basic economics?

    That said, it is truly tragic that you decide to take this against the EU, when it is the EU that gave you your rights, ranging from employment to justice. Tragic.

    (Original post by thephysio)
    They haven't created money out of thin air, did you not listen to Mark Carney? Remain voters seem to listen to him all the time, so you might as well pay attention to him now.
    The economy is not wrecked - it is in a short-medium term decline because of the fear instilled in investors and financial workers by the Remain camp.
    I'm not sure how it works for you, but QE IS money created out of thin air to invigorate the economy. That is, when the economy is utter crap.

    If you think the countless billions which were wiped off, the irreparable damage caused by the pound to the massive trade deficit and the fact that this was merely a referendum and NOT actually leaving the biggest economic bloc in the world, you're deceiving yourself (or, well, they deceived you).
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    You should have watched Sky News earlier with Kay Burly. She is a massive liar. She said the FTSE had recovered, neglecting the fact it has dropped for the current two trading days to below 6000 and she said the pound was stable(because dropping to £11.31 is stable yo). She's an ugly old hag of a Brexiter
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    (Original post by *Stefan*)
    This is rather tragic. You argue you want democracy, and then say the Government is out of touch with the public. What exactly do you think democracy is? It'll manifest itself and provide you with whatever you want?

    And how can you call this malarkey a democracy when so many people don't even understand basic economics?

    That said, it is truly tragic that you decide to take this against the EU, when it is the EU that gave you your rights, ranging from employment to justice. Tragic.



    I'm not sure how it works for you, but QE IS money created out of thin air to invigorate the economy. That is, when the economy is utter crap.

    If you think the countless billions which were wiped off, the irreparable damage caused by the pound to the massive trade deficit and the fact that this was merely a referendum and NOT actually leaving the biggest economic bloc in the world, you're deceiving yourself (or, well, they deceived you).
    Well yes, because the current government wasn't encouraging democracy in the first place - as it favoured remaining in the EU. The EU shouldn't have the power to impose bills and laws on us in the first place, regardless of the rights we receive. These should be replaced by our own British bills of rights so our courts and government can decide on them.

    The money will be paid out of inflation, but will provide a short term boost if necessary to the economy - it is currently not being used.
    As I said, this is a short-medium term economic downturn that will be resolved over a period of time.

    Nobody is dying, nothing bad is happening at the moment. Stop whining because you got outvoted in a democratic election and make the best of what we have.

    Unless of course, you'd rather go to an undemocratic country where you can be ruled over by a dictator all you like. I'm sure you'll like it there. As long as you get cheaper roaming charges and it clears your conscience, right?
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    One day Jordan all these brexit idiots will look back to you and see how foolish they were
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    i don't think there's a single brexiter who actually understands what "the market" or "stock" or the FTSE 100 is, or else they'd be less nonchallant about it. there's really no point in trying to make them understand
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    I wonder when it'll sink in for these people that this isn't a game, and nobody gives a **** about "losing" but rather about the consequences that we all have to live with.
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    (Original post by tanyapotter)
    i don't think there's a single brexiter who actually understands what "the market" or "stock" or the FTSE 100 is, or else they'd be less nonchallant about it. there's really no point in trying to make them understand
    I walk to the market on my footsies, where I purchase my stock :teehee:
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    (Original post by thephysio)
    Well yes, because the current government wasn't encouraging democracy in the first place - as it favoured remaining in the EU. The EU shouldn't have the power to impose bills and laws on us in the first place, regardless of the rights we receive. These should be replaced by our own British bills of rights so our courts and government can decide on them.
    The Human Rights Act is NOT EU law - it is ECHR law, and the UK will still have it even if it leaves the EU. EU rights are in the form of directives, which allow governments to set their own targets within a given quota. There is a difference.

    Added to that, you're acting as if the notion of democracy is higher than actually having democratic rights. Without the EU, both consumers and employers would lack very important rights.

    As you will probably recognise by now, you're not as knowledgable on the topic as you thought you were.

    (Original post by thephysio)
    The money will be paid out of inflation, but will provide a short term boost if necessary to the economy - it is currently not being used.
    Inflation is "a general increase in prices and fall in the purchasing value of money". Although a very low inflation point is good to prevent deflation, in itself it is very bad. If you think increases in prices and worthless pounds are good, you definitely need an economics lesson. Not least, the deficit will become worse, and it is already pretty darn bad.

    (Original post by thephysio)
    As I said, this is a short-medium term economic downturn that will be resolved over a period of time.
    You know this how? I can give you current devastating affairs and experts saying the UK will go down the drain. What makes you believe it will be resolved over a period of time? Do you have a magic ball that you're not telling us about?

    Please enlighten us.

    (Original post by thephysio)
    Nobody is dying, nothing bad is happening at the moment. Stop whining because you got outvoted in a democratic election and make the best of what we have.
    People MUST freaking die before you accept your mistake? What the actual hell?

    And nothing bad is happening? Are you blind? Banks have suffered devastating consequences, the pound has been hit with a comet and the FTSE, consequentially, is suffering terrible losses. Nothing bad at all eh?

    Make the best of what you have? Sorry, but there's nothing in it. You made it, so you solve it. Of course, you will soon realise your mistake crystal clear.

    (Original post by thephysio)
    Unless of course, you'd rather go to an undemocratic country where you can be ruled over by a dictator all you like. I'm sure you'll like it there. As long as you get cheaper roaming charges and it clears your conscience, right?
    Yes, because the EU is like North Korea eh? I can't fathom the sheer stupidity here. But sure, eat and feed your children 'democracy', because it's very nourishing indeed.
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    (Original post by tanyapotter)
    i don't think there's a single brexiter who actually understands what "the market" or "stock" or the FTSE 100 is, or else they'd be less nonchallant about it. there's really no point in trying to make them understand
    You're ignorance is outstanding
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    I think you'll find Brexiters to be a reasonable and well-informed bunch, who never resort to ranting and labelling. (Straight-Face)
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    (Original post by DaveThe2nd)
    You're ignorance is outstanding
    i am ignorance is outstanding?
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    (Original post by JordanL_)
    Maybe you could explain how hiring freezes, stocks crashing and the pound dropping are stupid? Tell that to the people thinking we'd save £350m/week for the NHS.



    Yep, and if the Bank of England have to inject £250bn into the economy, that indicates serious problems. You seem to think that they just throw some money at it and it goes away. It doesn't.

    I actually did think that's what happens .

    I mean if the problem doesn't go away if you throw money at it can't they spend the money they throw at it on the NHS?
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    (Original post by tanyapotter)
    i don't think there's a single brexiter who actually understands what "the market" or "stock" or the FTSE 100 is, or else they'd be less nonchallant about it. there's really no point in trying to make them understand
    Ah. Well I plead guilty there I must say.

    All I know is if the FTSE falls too much my pension that I earned as a tube driver will be less than I was expecting ,yes?

    That's the sum total of my understanding.

    So really I should be very worried?
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    Lmao excuse me Michael Gove told us we were fed up of experts and listening to them, why would we believe financial experts when we could just believe people like Gove?? Clearly there are no disastrous economic effects and this is all a ploy by the remain campaign, because as I said, Gove told us that we were fed up of experts

    For a serious answer; I'm not surprised.
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    (Original post by JordanL_)
    I wonder when it'll sink in for these people that this isn't a game, and nobody gives a **** about "losing" but rather about the consequences that we all have to live with.

    Well if Labour win the next election,especially if it's soon,that's when it will sink in.
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    (Original post by JordanL_)
    This "us vs them" ******** is disgusting. But no, I am working class. I don't understand how/why you've concluded otherwise, or how/why it's remotely relevant.

    It means you are less likely to be inheriting a £1million house thus your hysteria is easier to understand.
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    I voted for Leave however the market turbulence can't be dismissed because this reflects what real people making investment decisions are thinking about the future prospects of the UK. It's not just about the way the vote has gone but it's about the absence of leadership and apparent plan.

    If it was a case of "the UK is going to cease its current arrangements and become an economy like Switzerland in 2 years time" then investors would generally think, ooh Switzerland, thats a safe haven for investment....potentially UK could be a good option that might outperform the Eurozone countries as it won't be directly affected by the perennial Eurozone crises.

    This is the goal of most of the traditional Brexiters I am sure, to create an independent, open economy that has reclaimed parliamentary sovereignty and restored powers to one of the oldest and most stable set of democratic institutions in the world.

    The markets don't see it like that though, they are worried about various things:
    - there's a gap in leadership at the moment: as the Economist said, the phones are ringing in British HQ and nobody is answering them
    - they are looking at the potential leaders in waiting and not impressed, especially if next PM is Boris Johnson who is basically a journalist/TV personality who has jumped on the Brexit bandwagon as a tactical move and doesn't inspire confidence that he has the calibre required (note - if Donald Trump becomes US President, watch the markets verdict then....)
    - they don't see a credible Opposition leader in waiting to provide a solution
    - they are doubtful that the UK will strike a favourable trade deal with single market access because they know free movement is going to be a political hot potato and the UK won't be able to offer that up in the way Norway and Switzerland did, so any bluster by Boris about "we will get single market access, British citizens will get their full freedoms in Europe but we'll seek to control EU citizens coming here" will not get through the EU
    - they are seeing a constitutional crisis in the UK with potential problems about a border in Northern Ireland/Ireland and Scotland breaking away from the UK, which makes the UK smaller and diminished

    Remember in General Election 2015 when it looked like it might be a Labour - SNP coalition, and Cameron repeated the message, the choice is, have a stable Conservative government, or have years of chaos, backroom deals, negotiations, with the Scottish Nationalists holding the British government to ransom, it would undermine the recovery and lead to chaos on the markets.

    Well we have that sort of chaos now. Nicola Sturgeon is now the British politician who is acting most like a leader, but she's saying things (unchallenged by British leadership btw) that are increasing instability - she's unilaterally going to speak to the EU about the legal position of preserving Scotland's UK membership so it can be transferred over in the event of an independence referendum, she's announcing she's preparing legislation for a second referendum and is announcing that she's going to use the legislative consent procedures to veto (or more likely, just cause a lot of legal difficulty) the UK's exit from the EU.

    So investors are looking at this situation and thinking **** me, I'm leaving the UK well alone tlll it sorts itself out.

    A lot of Brexit supporters are saying "just a bit of turbulence, to be expected" and I was not so naive as to vote Leave expecting an orderly transition but I think what it's exposed, which has unsettled me, is a complete lack of leadership and plan amongst the leaders of the Leave movement and it looks like they don't have a plan or didn't really expect to win. Most likely, the problem is that Boris never had a plan and he has become by default the post-Brexit leader, and its a disaster for Brexit because he doesn't know what he is doing.
 
 
 
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