Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

$1T is leaving Britain because of Brexit

cnn.com

Post reply on HN
Print view View original

151–160 of 283 posts

Re: $1T is leaving Britain because of Brexit

#151

Post by growlist »

steve_gh wrote: post #138
growlist wrote: post #115

Earlier quoted context omitted.

I'm basically a small c conservative, and I think the country is a far less pleasant place to live than when I grew up. If we want mass immigration we also need a massive house building programme, which might involve concreting over the countryside, or perhaps a proper regional policy. I don't see how we can have one without the other. If we were as big as Canada it would be a different story! I went to the beach wit…

It's a little more nuanced than that ... the SE of England was generally the area most in favour of Remain. Pretty much all of rural England outside of the pull of London voted to Leave. I see Brexit as the losers in the globalization push taking their revenge on the winners.

Sure, I realise I'm something of an anomaly in my views. Something of a tangent I know, but I can't even walk to my local shop without being choked by diesel pollution, and this in a not particularly large southern town. Is this supposed to be progress?

Re: $1T is leaving Britain because of Brexit

#152

Post by olivermarks »

olivermarks wrote: post #116

There is a massive 'fear campaign' drip dripping dire news in the UK every day if the people don't reconsider leaving a federated europe. The EU is well past its sell-buy date, won't reform and globalization has taken full advantage of its undemocratic structure for offshore commercial gain. The divide and rule aspects of the UK EU referendum results are being exploited to the full. Like the last US election there is…

The Cayman Islands are the 5th largest financial centre worldwide, via City of London

http://blogs.lse.ac.uk/usappblog/2017/11/11/the-cayman-conun...

Re: $1T is leaving Britain because of Brexit

#153

Post by lazyjones »

siidooloo wrote: post #89
mbrumlow wrote: post #6

Lots of things are going to change. Things worked before the EU. I am sure things will continue to work after the exit.

Britain isn’t going to turn into some Mad Max wasteland like some claim, but it will be worse off. The big thing is that on average the larger more open market will have more growth than the smaller more closed one. That growth will be compounded over the years. In several decades people in Britain will be asking why people in Poland have a better standard of living than them.

> In several decades people in Britain will be asking why people in Poland have a better standard of living than them.

In case this ever happens - it won't - this will be attributed to the EU pumping billions into Poland's budget every year. Net benefit to Poland is higher than the UK's yearly contribution to the EU budget nowadays.

Re: $1T is leaving Britain because of Brexit

#154

Post by chimprich »

lazyjones wrote: post #117
Xylakant wrote: post #108

Earlier quoted context omitted.

Sure, deals are bilateral. Good luck trying to get the EU to give up one of its core principles to a country that cannot even get its government to agree on a consistent negotiation position.

> Good luck trying to get the EU to give up one of its core principles to a country that cannot even get its government to agree on a consistent negotiation position. The UK government is far more consistent than the EU currently. Name one important issue where the EU has reached a satisfactory agreement and results. Migration? Social security? EU army? Nope. But just like the tone of your comment, the EU position on…

> Name one important issue where the EU has reached a satisfactory agreement and results.

Whenever someone asks for one single thing, they don't mean it. I predict anything I name will either not be important enough or you will not consider anything less than complete unanimity across the continent to be satisfactory.

But fine, I'll play. Abolition of mobile roaming charges across the EU.

Re: $1T is leaving Britain because of Brexit

#155

Post by growlist »

yakshaving_jgt wrote: post #141
growlist wrote: post #136

Earlier quoted context omitted.

> This trope about discarding democracy is tired too Imagine the contempt with which calls for a second referendum would be treated if it were remain that had won. Not to mention, we were told that the vote would settle the issue for a generation. Oh whoops, apparently only if we voted remain!

But that was exactly Farage’s plan. How did you miss this?

Yes but I seriously doubt it would have gone anywhere.

Re: $1T is leaving Britain because of Brexit

#156

Post by NicoJuicy »

growlist wrote: post #92
NicoJuicy wrote: post #76

Earlier quoted context omitted.

I'll add another quote, only the sun shines for free ( Belgian quote) And even then we put a price on it. Even leaving the EU alone, results in the UK setting up their own GPS alternative. That's a huge cost to bear alone

> UK setting up their own GPS alternative The only reason this is possible is due to UK leadership in the area, so it's actually a brilliant opportunity for the UK to remain at the leading edge.

And I thought they had to, because they weren't allowed to have the military part of Galileo. Which makes the UK the only country without access to high precision GPS.

They had no success negotiation access to Galileo, so they are forced door a Homebrew alternative.

America is the leader with GPS, last time I checked.

To be honest, a lot of your comments lack realism and objective references. I'm 100% sure you live in the UK

Re: $1T is leaving Britain because of Brexit

#157

Post by growlist »

dijit wrote: post #146
PunchTornado wrote: post #125

Earlier quoted context omitted.

no, Brexit is not about economics and it never was. Brexit is about having fewer immigrants in the country. My driving instructor was very honest with me, even if I was a foreigner. He said 50% of his students are foreigners. But he still voted for Brexit even if he knows it will make him worse off financially. He just wants fewer immigrants in the country.

I grew up in a predominantly "brown people" part of the country, I use "brown people" because there were Pakistani's, Indians and other peoples from the crown colonies. It's worth noting that, we as a country fail to integrate those people. It's not their fault. It's worth double-noting, that those people are not the people we're removing ourselves from. We're actually removing ourselves from those who are culturally…

> it's required to sustain the country

because? If it's because we aren't fertile enough, or our education system isn't good enough, or we aren't paying enough for certain jobs, why not address this?

I'm interested to know whether you think there should be any upper limit to the population of the UK: 100m? 500m? more?

Re: $1T is leaving Britain because of Brexit

#158

Post by jayalpha »

sabertoothed wrote: post #15
GreaterFool wrote: post #10

> have shifted at least £800 billion ($1 trillion) worth of assets out of the country And what's the significance of that? Suppose I had $100 in a bank in UK and I moved it to a bank in Germany. Neither country is better or worse because of that. The article doesn't bother to explain the ramifications. Deals are made in UK because English law is really, really good. Having to maintain offices in EU will surely increa…

> Deals are made in UK because English law is really, really good. Can you elaborate?

No, it isn't. While I have a lot of sympathies for common low (e.g. jury etc.), it is very inefficient. Codified law is much more efficient.

Do you know why finance contracts in baking, M&A etc. in common low are so extraordinary complex? You have to consider fuer every eventuality and every former case.

Re: $1T is leaving Britain because of Brexit

#159

Post by soVeryTired »

24gttghh wrote: post #91
GreaterFool wrote: post #10

> have shifted at least £800 billion ($1 trillion) worth of assets out of the country And what's the significance of that? Suppose I had $100 in a bank in UK and I moved it to a bank in Germany. Neither country is better or worse because of that. The article doesn't bother to explain the ramifications. Deals are made in UK because English law is really, really good. Having to maintain offices in EU will surely increa…

>Neither country is better or worse because of that. The article doesn't bother to explain the ramifications. This is not entirely true [0]. The money-multiplier effect would mean the bank in Germany then has something like ~$900 more dollars (converted to Euro's of course) that it could loan out. I'm not sure on their exact Reserve Requirement, but it appears to be less than 10%. Apparently the UK doesn't have much…

Reserve requirements don't really control lending in the West anymore. The main determinant of whether a bank will issue a loan is whether it thinks the loan will be profitable. The main constraint on bank lending is capital reqirements - i.e. the ratio of the bank's liabilities to its assets.

The 'money multiplier' might have been a decent description of the banking system 100 years ago, but it's basically a myth these days.

Re: $1T is leaving Britain because of Brexit

#160

Post by jermaustin1 »

PunchTornado wrote: post #128
growlist wrote: post #83

Earlier quoted context omitted.

For many people it was about regaining control of borders and reducing immigration. Personally I'm willing to trade off being a little poorer in exchange for being a sovereign nation once again, although the current direction of travel makes it look like we will be getting Brino i.e. Brexit in name only, about which by the way I'm staggered at how blithely people are willing to discard democracy when the result doesn…

is Canada not a sovereign nation because it is part of NAFTA?

Not to defend GP's post, but NAFTA and EU are vastly different. Without proper visas, I cannot settle in Canada, I cannot work in Canada, I cannot vacation for longer than 6 months in Canada.

I don't see why I shouldn't be allowed to. I think it would be nice to move freely between the NAFTA nations.

Post reply on HN