Brexit.

[seafoid]

Yeah the irony is that they have probably weakened it.

I can see that they are going with the democratic decision of their great one entity and they will push this but i don't for one second think that if the democratic decision didn't suit them they would back it.

the DUP chose the wrong horse.
https://www.youtube.com/watch?v=Igsb3ejgbL8

[Hereiam]

I have said it before the DUP got a good brown envelope from some establishment in Britian.

[armaghniac]

I have said it before the DUP got a good brown envelope from some establishment in Britian.

They should have insisted on payment in Euro.

[seafoid]

Fella in the FT sez the Brits chose isolation and inflation. For centuries it made sense to be a Unionist . But not now. Ochón is Ochón Ó.

[seafoid]

Arlene Foster is a moron


https://www.ft.com/content/41158cf8-9204-11e6-a72e-b428cb934b78
Sterling's slump signals a warning, not a boon


Investors are marking down the economic future of Brexit Britain
The UK government this week found that taking back control of some things is a lot harder than others. The pound sterling falls into the former category. The currency fell to a trade-weighted level last seen in the middle of the 19th century.

For some optimistic Brexiters, events reflected the pound dropping to a more competitive level, promising a re-
balancing of the UK economy and a reduction in its large current account deficit. But as this week's Marmite spat between Unilever and Tesco showed, the effects of international supply chains can have unfortunate effects: rising import costs affect not only consumers but intermediate users of imported goods and services.

The decline in sterling, in a country with a free-floating currency, is not a crisis. But it does suggest investors are re-rating the competitiveness of an economy whose government appears bent on harming the industries in which it has comparative advantage.
As far as one can tell — and the foreign exchange markets are not always known for clear logic — the fall in sterling was a reaction to Theresa May's government signalling a desire for "hard Brexit", including no longer being a member of the EU single market. That would hurt the UK's financial services sector, which relies on regulatory "passporting" arrangements to operate freely across thebloc.
That move, plus the lack of clarity surrounding the government's strategy, has contributed to uncertainty about the UK's handling of Brexit. This probably also played a role in the fall of the currency. Certainly the rise in gilt yields that accompanied the slide in sterling most likely reflected an increase in risk premium.

The optimistic view is that a weaker currency will enable other parts of the economy, especially the manufacturing industry, to
compete better with imports and to find new export markets. Recent history, though, is unpromising. The fall in sterling that followed the global financial crisis, although it imported higher prices, had little of the hoped-for effect on the trade balance. Demand at home and abroad did not react much to the change in prices, and depreciation had the effect of holding down real wage and consumption growth at home more than boosting exports.

The tussle between Unilever and Tesco over the pricing of goods, including the yeast-based spread Marmite, is a case in point. British consumers may have been puzzled that a product largely made and consumed in the UK should be affected by currency movements. But being owned by a Dutch-headquartered company, which reports in euros and uses imported packaging and machinery, means even the most British of products is not immune to exchange-rate movements.
UK businesses reliant on imported inputs — the British car industry, for example, is part of a complex international supply chain — are likely to find that a weaker currency has serious downsides. Small businesses are at risk. New export industries with price-sensitive goods may arise to replace the lost sales of financial services products, but that is an uncertain and long-term proposition. In the meantime, the fall in sterling will push up prices, eat into real incomes and make Britain poorer.
In these circumstances, it is hardly a surprise that investors are marking down the UK's economic prospects by selling its currency. The government says it will not provide a running commentary on Brexit ahead of next year's negotiations with the rest of the EU. But the faster that Mrs May's government provides some clarity about exactly what it is aiming at the better.

[imtommygunn]

I have said it before the DUP got a good brown envelope from some establishment in Britian.

I would say you could be right.

[seafoid]

It is turning into a farce. The knob in charge of the Bank of England told May to f$$$ off after she said he wasn't very good

[seafoid]

So no miracle Brexit  money for the NHS which has a 22 bn deficit.
A few years of Brexit and the unionists will be begging for a UI.

[seafoid]

Do threascair an saol is shéid an ghaoth mar smál
Alastrann, Caesar, 's an méid sin a bhí 'na bpáirt;
tá an Teamhair 'na féar, is féach an Traoi mar tá,
is na Sasanaigh féin do b'fhéidir go bhfaighidís bás

The world laid low, and the wind blew-- like a dust--
Alexander, Caesar, and all their followers.
Tara is grass; and look how it stands with Troy.
And even the English-- maybe they might die.

        --Owen Roe O'Sullivan/ Eoghan Rua Ó Súilleabháin (1748-1784). tr. Thomas Kinsella, with Seán Ó Tuama, from An Duanáire: Poems of the Dispossessed

[Milltown Row2]

Was speaking to a guy today who was at a meeting with an European economist for Santander... his take on brexit was very simplistic .... nobody knows how it's going, the fall in the pound is down to fears and no clear idea from the government on how to go about the leave!!  I couldn't quote him but I'd say that's good enough for me to say until the dust settles then we'd have a better idea, instead of the scaremongering from the usual!!

The one thing he did say is the potential fall out from the Russia banks would not help things

[muppet]

I would say it will be almost impossible for Britain to maintain 100% of its current trade with the EU post-Brexit. For example, Britain will find itself at an instant disadvantage in businesses that compete with EU based businesses. The EU will understandably want to protect its own. Also, any new trade tariffs at all will make Britain less competitive, versus EU traders and this will hit their trade with the EU and make them less profitable. As we have already seen, those on very tight margins are likely to struggle.

Oil is priced in dollars, at least for Britain it is. So oil prices will soon rise for UK businesses, while for EU competitors, relatively speaking, it won't. This will hurt British transport companies unless they can buy most of their oil abroad (but then they might be hit with new tariffs post-Brexit).

Any reduction in trade will have an economic effect quickly. If the reduction is in any way significant it could mean recession for Britain. If the reduction is very significant, well...........use your own words.

Politically Britain could divide into Remain and Leave groups. This could get interesting in a few years.

The turmoil we are currently seeing is only the beginning. This will be a bumpy ride and the loons in charge in London are frequently sending out the wrong messages. They do not inspire confidence and to add to everything else, we have a Prime Minister who has no mandate. Strangely Britain is the one country where this doesn't seem to be an issue, yet. Must be down to royalty or British people knowing their place and doffing the cap etc.

[seafoid]

I would say it will be almost impossible for Britain to maintain 100% of its current trade with the EU post-Brexit. For example, Britain will find itself at an instant disadvantage in businesses that compete with EU based businesses. The EU will understandably want to protect its own. Also, any new trade tariffs at all will make Britain less competitive, versus EU traders and this will hit their trade with the EU and make them less profitable. As we have already seen, those on very tight margins are likely to struggle.

Oil is priced in dollars, at least for Britain it is. So oil prices will soon rise for UK businesses, while for EU competitors, relatively speaking, it won't. This will hurt British transport companies unless they can buy most of their oil abroad (but then they might be hit with new tariffs post-Brexit).

Any reduction in trade will have an economic effect quickly. If the reduction is in any way significant it could mean recession for Britain. If the reduction is very significant, well...........use your own words.

Politically Britain could divide into Remain and Leave groups. This could get interesting in a few years.

The turmoil we are currently seeing is only the beginning. This will be a bumpy ride and the loons in charge in London are frequently sending out the wrong messages. They do not inspire confidence and to add to everything else, we have a Prime Minister who has no mandate. Strangely Britain is the one country where this doesn't seem to be an issue, yet. Must be down to royalty or British people knowing their place and doffing the cap etc.

Brexit reminds me of this

Insanity in individuals is something rare - but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche

[seafoid]

Paddy Irishman and Paddy Englishman walked into a bar. Paddy Englishman said "can you buy me a pint.?"

[muppet]

http://www.politico.eu/article/theresa-mays-brexit-war-cabinet/

'...Every senior cabinet minister who campaigned for a vote to leave the EU has been given a place on the committee, which acts as the government's ultimate decision-making body on Brexit.

The three leading Brexiteers — Boris Johnson, David Davis and Liam Fox — are included, as expected. But Theresa May has also given positions to International Development Secretary Priti Patel, Transport Secretary Chris Grayling and Environment Secretary Andrea Leadsom — all prominent members of the Leave campaign...'

'...In a controversial move, the secretaries of state for Scotland, Wales and Northern Ireland are not given permanent positions around the decision-making table. Instead they attend "as required" by the prime minister....'

[seafoid]

http://www.politico.eu/article/theresa-mays-brexit-war-cabinet/

'...Every senior cabinet minister who campaigned for a vote to leave the EU has been given a place on the committee, which acts as the government's ultimate decision-making body on Brexit.

The three leading Brexiteers — Boris Johnson, David Davis and Liam Fox — are included, as expected. But Theresa May has also given positions to International Development Secretary Priti Patel, Transport Secretary Chris Grayling and Environment Secretary Andrea Leadsom — all prominent members of the Leave campaign...'

'...In a controversial move, the secretaries of state for Scotland, Wales and Northern Ireland are not given permanent positions around the decision-making table. Instead they attend "as required" by the prime minister....'

Y0u cannot apply logic to an agenda
the UK will be  hammered on the currency markets again and again