Off Topic EU deabte. Which way are you voting ?

And tell me, how did that operation work out for you Piskie?

 

Yeah, I'd forgotten that the Lib Dems already committed political suicide ages ago!

So, WTF, eh?....

 

I didn't vote for Brexit

 

In your case, not voting for Brexit, doesn't stop you from having your head up your arse

 

I can see all the Brexiters from where I am

 

The sad thing is, if the EU hadn't been so arrogant as to not give the UK the reforms that it wanted, i'd have happily voted to remain. Their arrogance has/will be their downfall. I believe that as the second biggest contributor we should have been given more concessions, it's that simple. The more you put in, the more perks you get in return (to a reasonable level). Instead the contempt they have shown pushed many of us to vote Leave out of protest. But, what is done is done.

 

BOE may cut rates, so that will scupper you a bit

 

If they gave us control of our borders I would have voted to stay in, in fact I would have been happy to pay a bit more into the EU to compensate for this.

 

Not necessarily

The trouble with inflation is that the Bank of England has a legal obligation to keep it as close to 2 per cent a year as possible. If a fall in the pound threatens to push prices up faster than this, the Bank will raise interest rates. This acts against inflation in three ways. First, it makes the pound more attractive, because deposits in pounds will earn higher interest. Second, it reduces demand by putting up the cost of borrowing, and especially by taking larger mortgage payments out of the economy. Third, it makes it more expensive for businesses to borrow to expand output

http://www.independent.co.uk/news/u...-live-policy-stay-leave-a7103186.html#gallery

 

7.859 mate

 

How will that scupper me? Will they take my cash away from me?

 

He wouldn't have it any other way, ask HIAG

 

for repos

 

There are always repos.

 

Together with their politnik "mission creep" .
I have to say, I am pmsl over their weekend bawling about the "section 50" stuff (Nemesis indeed) .

 

That scenario would be rock and a hard place for the BOE.

Their mandate is keep inflation around 2%. If not they have to write a public letter to the Chancellor giving the reasons why inflation is outside the acceptable range.

The problem comes when a rapidly falling pound causes inflation to rise. In normal times, rising inflation would be met with a rate rise. However, with a shrinking economy falling back recession the last thing needed is an interest rate rise! House prices falling, repossessions rising, retail sales falling, etc.

if you've got to raise rates into that scenario, you'd better be damn sure of what you're doing!...

 

I don't think the BOE will raise rates either. It's too risky, we are a nation of borrowers, and if mortgages and loan repayments go up, then people spend less and the economy shrinks. Also most businesses are repaying loans of one sort or another, if their growth is stunted by higher rates then it's a double whammy for the economy. Also Mark Carney has already said he's willing to pump £250bn into the economy to offset the downfall caused by Brexit.

 

Lots of property transactions have and will fall though as they had Brexit clauses in them. Investment into UK property will plummet at a time when there is a lack of housing stock. The property company share prices were hammered as hard as the domestic banks on Friday.

 

Got this from the FT about rate cut

http://www.ft.com/fastft/2016/06/24/odds-of-boe-rate-cut-jump-after-brexit/

 

I can believe it! Investment in all sectors will shrink rapidly whilst this uncertainty prevails.
I just wish, for the UK's sake that this could all be settled quickly. However, I fear that it won't be. It will drag on for a lengthy period and the uncertainty will accompany it.

Renewed recession looms large!...