Brexit slowly becoming a Farce.

[Left Back]

4 minutes ago, welshbairn said:

It's freeing up a huge amount of capital for investment that will be available for his firm and other hedge funds to funnel through their hands.. I wasn't suggesting it would go in his personal piggy bank, but there will be a big opportunity for a decent cut, along with the results of deregulating the banks. He hasn't exactly been shy about mentioning it.

So we’ve established your claim was misleading at the start.  Let’s look at the detail now.

Changing SII is unlikely to happen.  Too many raw wounds from the financially recent event that brought  it in initially.

If he has a performing hedge fund that an investment fund can make money from then so what?  Leaving aside whether the tax affairs or charges of hedge funds are moral the investment fund is there to make money for the fundholders.  If the hedge fund doesn’t make money it wont be attracting much investment.

UK pension funds don’t tend to invest in hedge funds (in the way that US ones do).  1-2% is typical.  Trustees of those funds lack the time or knowledge to sanction those types of investments on a large scale so avoid the risk.  On the flip side this has been a criticism of Uk pension funds for years.  They aren’t maximising returns for the fundholders.

If you invest in a different fund that invests in a hedge fund and you lose money then you should have read the small print.  Investing in anything is a risky business.

[Benjamin_Nevis]

Ah lovely. Episode 34 of "I don't like this guy but i'll spend about a dozen posts defending him to the hilt" 

[Left Back]

4 minutes ago, Day of the Lords said:

Ah lovely. Episode 34 of "I don't like this guy but i'll spend about a dozen posts defending him to the hilt" 

Not defending him in the slightest.  He’s a prime example of things that are wrong in the greed and class culture in the country.  If some malcontent booted f**k out of the smug p***k I’d happily give them a not guilty if I was fortunate enough to be on the jury.

I do defend his right to make money legitimately for his investors (and by extension for himself).  Using influence with the government to aid that should see you in jail (and hopefully repeated shoeings whilst there)

I abhor a member of government even hinting at changing laws that could benefit them personally but don’t see how you can prevent that. Everyone has an investment in most laws.

[Dan Steele]

Despite Truss and Sunak putting on a brave face/blatantly lying about the slow-motion continuing unfolding of the disaster that is Brexit I'm surprised (not really) that there isn't more investigative journalism taking apart the claims of "Brexit opportunities". From the problems fruit farmers are facing, the hit to small scale fishing operations, to the queues at Dover it often seems the issues are being glossed over or Ukraine and post-Covid are being used as the only problem to the crises (obviously they are factors). I was surprised then, to see this quote. Some last line: 

In April, Adam Posen, an American economist and former member of the Bank of England’s monetary policy committee, said that 80% of the explanation for Britain’s higher inflation was bound up with Brexit and its endless complexity. It amounted, he said, to “a trade war the UK declared on itself”.

[Salt n Vinegar]

4 hours ago, The Skelpit Lug said:

Despite Truss and Sunak putting on a brave face/blatantly lying about the slow-motion continuing unfolding of the disaster that is Brexit I'm surprised (not really) that there isn't more investigative journalism taking apart the claims of "Brexit opportunities". From the problems fruit farmers are facing, the hit to small scale fishing operations, to the queues at Dover it often seems the issues are being glossed over or Ukraine and post-Covid are being used as the only problem to the crises (obviously they are factors). I was surprised then, to see this quote. Some last line: 

In April, Adam Posen, an American economist and former member of the Bank of England’s monetary policy committee, said that 80% of the explanation for Britain’s higher inflation was bound up with Brexit and its endless complexity. It amounted, he said, to “a trade war the UK declared on itself”.

James O'Brien says something similar to Posen about the effect of Brexit.. along the lines of Britain being the first country in history to impose economic sanctions on itself.  Pretty accurate really! 

[Clown Job]

 

[BFTD]

Reminded me a little bit of ths:

 

[Fullerene]

On 03/08/2022 at 15:52, Salt n Vinegar said:

James O'Brien says something similar to Posen about the effect of Brexit.. along the lines of Britain being the first country in history to impose economic sanctions on itself.  Pretty accurate really! 

Actually that is not entirely true.  In the American Civil War, the North planned to set up a blockade to stop the South selling their cotton to Britain and France.

In the end, they did not need to.  The South chose to stop selling their cotton to Europe in the hope that the European powers would get annoyed and come to their rescue.  Obviously they didn't.

So you see, there were stupid gammons even back then.

[Guest Jedi]

Who could have imagined that Brexit would lead (80%) to a staggering rise in inflation? 

How well explained was the fact that we rely on so many imports from Europe, and that, if you are going to smother them in red tape and increased tariffs, where none existed previously, that the cost of everyday living would increase? Certainly wasn't too well fleshed out by the Remain side, though in fairness, most folk could probably have worked it out for themselves.

[San Starko Rover]

13 hours ago, Clown Job said:

 

Only one thing in that video is untrue.

 

 

The Words! 

[Left Back]

10 hours ago, Jedi said:

Who could have imagined that Brexit would lead (80%) to a staggering rise in inflation? 

How well explained was the fact that we rely on so many imports from Europe, and that, if you are going to smother them in red tape and increased tariffs, where none existed previously, that the cost of everyday living would increase? Certainly wasn't too well fleshed out by the Remain side, though in fairness, most folk could probably have worked it out for themselves.

You think the pandemic and the energy crisis are only contributing towards 20% of inflation?

I’d love to see your working.

[Wee Bully]

1 hour ago, Left Back said:

You think the pandemic and the energy crisis are only contributing towards 20% of inflation?

I’d love to see your working.

Do you read whole threads, or just individual posts in isolation?  The working is 5 posts above.

He also didn’t say that it contributed 80% of the value of inflation, but 80% of the explanation.  Jedi echoed this.

On 03/08/2022 at 10:58, The Skelpit Lug said:

Despite Truss and Sunak putting on a brave face/blatantly lying about the slow-motion continuing unfolding of the disaster that is Brexit I'm surprised (not really) that there isn't more investigative journalism taking apart the claims of "Brexit opportunities". From the problems fruit farmers are facing, the hit to small scale fishing operations, to the queues at Dover it often seems the issues are being glossed over or Ukraine and post-Covid are being used as the only problem to the crises (obviously they are factors). I was surprised then, to see this quote. Some last line: 

In April, Adam Posen, an American economist and former member of the Bank of England’s monetary policy committee, said that 80% of the explanation for Britain’s higher inflation was bound up with Brexit and its endless complexity. It amounted, he said, to “a trade war the UK declared on itself”.

Given you are obviously disputing that, and the “workings” were provided, please provide your workings showing it to be incorrect.

Edited August 6, 2022 by Wee Bully

[Left Back]

1 minute ago, Wee Bully said:

Do you read whole threads, or just individual posts in isolation?  The working is 5 posts above.

He also didn’t say that it contributed 80% of the value of inflation, but 80% of the explanation.  Jedi echoed this.

Given you are obviously disputing that, and the “workings” were provided, please provide your workings showing it to be incorrect.

That’s a claim, not workings.

[Wee Bully]

Just now, Left Back said:

That’s a claim, not workings.

So you’ve got nothing other than bluster.  

[Dan Steele]

6 minutes ago, Wee Bully said:

Given you are obviously disputing that, and the “workings” were provided, please provide your workings showing it to be incorrect.

I think you've misread my post.

[Left Back]

Just now, Wee Bully said:

So you’ve got nothing other than bluster.  

I never made the claim.

Instinct tells me Brexit is bad for the economy.  It’s not really possible to quantify that with a number with everything else that’s going on.  To claim it’s the main reason for the current shit show is clearly a nonsense.    The governor of the BoE is saying the primary driver is the energy crisis.  
 

If Brexit was the primary driver why is Europe in such a state?  Have we taken them down with us?

[Salt n Vinegar]

People from country that doesn't seem keen on implementing Brexit agreements are annoyed with EU country that doesn't seem keen on implementing Brexit agreements... 

From - https://www.theguardian.com/politics/2022/aug/06/britons-portugal-post-brexit-id-cards

Quote - "Almost 35,000 Britons in limbo as Portugal fails to issue post-Brexit ID cards" 

Oops. 

[Salvo Montalbano]

3 hours ago, Left Back said:

You think the pandemic and the energy crisis are only contributing towards 20% of inflation?

I’d love to see your working.

Given that the UK is less reliant on Russian gas than Europe yet has a higher rate of inflation, there must be an effect that is unique to the UK in comparison to European neighbours, no? Is there anything that could possibly be?

[Granny Danger]

22 minutes ago, Salt n Vinegar said:

People from country that doesn't seem keen on implementing Brexit agreements want to tear up international agreements and break international law are annoyed with EU country that doesn't seem keen on implementing Brexit agreements... 

From - https://www.theguardian.com/politics/2022/aug/06/britons-portugal-post-brexit-id-cards

Quote - "Almost 35,000 Britons in limbo as Portugal fails to issue post-Brexit ID cards" 

Oops. 

Maybe more accurate?

[Left Back]

28 minutes ago, Salvo Montalbano said:

Given that the UK is less reliant on Russian gas than Europe yet has a higher rate of inflation, there must be an effect that is unique to the UK in comparison to European neighbours, no? Is there anything that could possibly be?

Given that gas is purchase on global markets so it doesn't matter who you buy it from, you're paying a shitload more for it, this point is completely irrelevant.  According the the BoE governor the primary driver of inflation is the energy crisis.  You probably don't need him to point this out.  You can see it for yourself in how much energy costs at the moment.  It's gone up about 100% and is about to go up another 70% (so the experts reckon).  Has Brexit driven up costs like that?  Are you paying 100% more for other things you're buying?

14 hours ago, Jedi said:

Who could have imagined that Brexit would lead (80%) to a staggering rise in inflation? 

 

This means the claim above is laughable nonsense.  Brexit is not 80% of the cause of the staggering rise in inflation.  If it was then Europe, the US and most of the rest of the developed world wouldn't be in the shit as well.