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$1T is leaving Britain because of Brexit

cnn.com

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Re: $1T is leaving Britain because of Brexit

#271

Post by genofon »

_sfsa wrote: post #221
bayesian_horse wrote: post #170

Earlier quoted context omitted.

That's not so much the problem here. The problem is that the voters answered the wrong question, as a result of a bad binary choice and lying campaigns. If voters had known what they are in for, they wouldn't have voted to leave.

Have you asked each and every person to come to your conclusion? I voted "leave" because I don't want unelected officials like Junker deciding the law of the land in a UK. Perhaps you should get more informed and read up on the Kalergi Plan.

as you are telling others to be more informed, and you said that Junker is unelected.. how do you think Junker ended up in there? Do you think he can just do whatever he wants without having to asked? Or you think every important official should be directly elected by the citizens? Spoiler: it does not happen in the main democracies for roles such as president or even head of state, and of course it does not happen for the Queen. I would be more upset bout that than about Junker.

Re: $1T is leaving Britain because of Brexit

#272

Post by spiralx »

onetimemanytime wrote: post #37
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…

>> 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. Ummm...the German bank can loan or invest about $85-$90 of that. The British bank has to loan about the same amount less. When you talking trillions it ads up. Generally you want banks with a lot of…

Banks don't lend out deposits, they lend based on the expectation of getting repaid. Lending is just an adjustment in the borrower's assets and the creation of an equivalent debt, which is why banks are said to "create money".

Re: $1T is leaving Britain because of Brexit

#273

Post by lazyjones »

kazen44 wrote: post #186
chimprich wrote: post #154

Earlier quoted context omitted.

> 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.

to name a few others: standardization of pallet sizes classification of fruits and vegetables in classes so they can be more easily traded between member states.] standardization of higher education between member states, so education is actually compatible between member states.

> standardization of pallet sizes

The pallets were standardized in a process that began in 1961, initiated by the UIC. It had nothing to do with the EU, except that its big bureaucratic machine introduced some more regulations.

Re: $1T is leaving Britain because of Brexit

#274

Post by Loughla »

laumars wrote: post #261
growlist wrote: post #253

Earlier quoted context omitted.

The onus is on the person that makes the bold assertion to back it up, not on me to back up my challenge. But I'm getting used to the brigading now.

I agree the former poster made a claim of evidence that should be backed up, but you did the same as well. Thus you’re both just as responsible to cite a source when asked.

It's not about who is responsible. If I had evidence to back my claim up, regardless of who made the initial assertion, I'm going to.

My guess is that neither can find anything with a quick google search and are just hoping that this thread dies.

Re: $1T is leaving Britain because of Brexit

#275

Post by growlist »

Loughla wrote: post #274
laumars wrote: post #261

Earlier quoted context omitted.

I agree the former poster made a claim of evidence that should be backed up, but you did the same as well. Thus you’re both just as responsible to cite a source when asked.

It's not about who is responsible. If I had evidence to back my claim up, regardless of who made the initial assertion, I'm going to. My guess is that neither can find anything with a quick google search and are just hoping that this thread dies.

Incorrect. If I thought earlier posters were intent on engaging sincerely I would continue, but evidence here and previously suggests they are employing derailing tactics masquerading as reasonable argument.

Re: $1T is leaving Britain because of Brexit

#276

Post by [deleted] »

Loughla wrote: post #274
laumars wrote: post #261

Earlier quoted context omitted.

I agree the former poster made a claim of evidence that should be backed up, but you did the same as well. Thus you’re both just as responsible to cite a source when asked.

It's not about who is responsible. If I had evidence to back my claim up, regardless of who made the initial assertion, I'm going to. My guess is that neither can find anything with a quick google search and are just hoping that this thread dies.

[deleted]

Re: $1T is leaving Britain because of Brexit

#277

Post by justaguyhere »

zimpenfish wrote: post #260
justaguyhere wrote: post #132

Earlier quoted context omitted.

That is why I said I don't know how to take this. Yes, a democracy needs an informed electorate to function. But it is the electorate's responsibility to keep themselves informed. There will always be fake news, click baits and outright wrong/illegal manoeuvers from someone or the other. IMHO, if the electorate can't take a few mins to understand what they are voting on, they don't deserve to vote.

> But it is the electorate's responsibility to keep themselves informed. Is it? Surely this is why we have people we delegate to because most people aren't going to be spending their time trying to keep up with the finer points of macroeconomics within a multicountry trading block as it pertains to tariffs, etc. Much like I delegate to a doctor when I'm ill - if he gave me the wrong treatment and said "it's your faul…

I disagree with your analogy. You're equating a highly regulated and complex profession like medicine with unregulated, emotionally charged profession like politics which routinely attracts the worst possible humans to participate (not the voters, but those who contest in elections). Tell me honestly - how much effort and time would it take for a British voter to read up the basics of Brexit, and then take 30 mins to think through it, the day before the vote?

Compare this with cancer or some other problem for which I go to the doctor to - it is not an easy task to understand the nuances of various drugs and treatments. Still, at least some people spend time and learn as much as possible before putting drugs into their bodies. But there is an implicit trust in doctors, because bad doctors don't last long in their profession. But bad politicians? It is almost a given that if a politician isn't a crook to some degree, he/she isn't gonna last long. By this time, the electorate should have learned to view everything that comes out of any politician's mouth with distrust, the opposite of what they (generally) do to a doctor.

Also, one doesn't need to learn the finer points of macroeconomics - Brexit is a bad idea for Britons, from every angle, even without understanding the depth of the issue.

We can blame the politicians all we want - but in the end, we vote for these politicians. Until we keep doing it, what right do we have to complain?

Re: $1T is leaving Britain because of Brexit

#278

Post by dijit »

growlist wrote: post #252
JAlexoid wrote: post #238

Earlier quoted context omitted.

Because forcing people to breed isn't exactly an efficient tool. Also - a population highly burdened with a lot of children tends to produce less value. It keeps more people out of work.

So let me get this straight: your position is that an ageing population can only be solved by migration?

Or killing of the old. Or forced breeding.

Migration is the most ethical of those.

Re: $1T is leaving Britain because of Brexit

#279

Post by Consultant32452 »

CaptainZapp wrote: post #263
Consultant32452 wrote: post #149

Earlier quoted context omitted.

Again, it'll take about ten seconds for those London Banks to spawn subsidiaries in a member state to take care of that. Meanwhile they get to drop the EU common external tariff. That alone will be a significant economic benefit to UK.

Again, it'll take about ten seconds for those London Banks to spawn subsidiaries in a member state to take care of that You are quite clearly misinformed what I actually takes in most European countries to get a banking license. It's not quite the same thing as opening a corporate entity in, say, Delaware. And as the EU made quite clear: Renting a mail box in Frankfurt and setting up a limited company won't quite do…

However, the LSE says that relocation would have little financial impact as LCH has a clearing house in Paris that is fully authorised under EU rules.

https://www.bbc.com/news/business-40258449

So a few things from that article are important. The first is that a subsidiary already exists. The second is that some clearing already occurs in the US, so there's precedent for non-EU Euro clearing. And third, it looks like the European Central Bank has been trying to get clearing out of London anyways, but was stopped by the courts.

So it's not likely to be stopped since the US clears transaction, and even if it is there's already a subsidiary in France to pass it all through. There'll be some local job hits, but the sky is falling stuff is nonsense. Counties and businesses will still want to do business with UK and they will figure out how to do it very quickly.

Re: $1T is leaving Britain because of Brexit

#280

Post by bayesian_horse »

genofon wrote: post #271
_sfsa wrote: post #221

Earlier quoted context omitted.

Have you asked each and every person to come to your conclusion? I voted "leave" because I don't want unelected officials like Junker deciding the law of the land in a UK. Perhaps you should get more informed and read up on the Kalergi Plan.

as you are telling others to be more informed, and you said that Junker is unelected.. how do you think Junker ended up in there? Do you think he can just do whatever he wants without having to asked? Or you think every important official should be directly elected by the citizens? Spoiler: it does not happen in the main democracies for roles such as president or even head of state, and of course it does not happen f…

Particularly these "unelected officials" are a necessary part of every burocracy.

Unless a voter spends a ridiculous amount of time studying and keeping current in politics, he can only meaningfully participate in a limited number of elections and issues. "Down the ballot", even for things like AGs or Judges, much less regulatory officials, people lose interest and competency.

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