You said "There will be a referendum"
you didnt say you will re-sign if Brexit were successful.
Now you have not really the Right to go and leave the Brits alone.
You can leave your Family if you are over ruled,and you shall not leave the Gov roght now. The Brits believed on you,why they elected you.
Just as there a Group got 1 % more then the other doesnt means 100% have to loos.
So, Where we are now?
The one with the Loud Voice either Re-Signed or seat quiet clueless in the back Row. They didnt expect that many votes and now they dont know wot to do.
There is only One who could safe the Country from Impact.
And thats You, Mr. Cameron!
Let's face it, we are in one hell of a mess right now. Boris gone. Farage gone. Cameron not knowing if he's coming or going, and Gove (and wife)? Putrid! As for May, I'll post that Ab-Fab Peter Brookes Cartoon if I can find it! Sums her up! Meanwhile currency and commodity markets going bonkers! Cutting interest rates, Mr Carney, is the mark of a loser! Ask Draghi! Oh, sorry, seems you already have! Meanwhile the Mary Celeste drifts towards the looming rocks!
I cannot understand why Carney has cut interest rates - surely it will undermine the economy? I can understand why Osborne has reduced corporation tax hoping to encourage investment although I am not sure it has worked so far. I can understand why Carney has poured money into the economy in the hope of propping it up but this has been happening almost the entire time the Tories have been in power -perhaps you can explain the reasoning? I know they have always hoped for inflation to reduce debt but it has never happened in spite of all the money printed! Again can you explain? The economies don't seem to be reacting to the usual instruments being used.
I was watching a programme about the Canadian housing market a few days ago and it is going crazy - Toronto is having massive house price rises - just like here and foreign investors buying properties they will never live in - it has Carney's mits all over it - he has gone but his influence prevails - it will all come to grief!!
I'm an economist and trader of the old school - a belief that banks are there to serve the customer and to foster growth for a reasonable percentage. A 5% interest rate to customers (Bank Rate being about 8.5%, and commercial bank lending rate around 12%) was regarded as a mark of a stable economy in the good old days when the Gold/Silver ratio was 16/1 ! Negative Interest rates? You would have been certified. When a country's currency was devalued, it was then a mark of poor husbandry. Today, by contrast, the lower the value of your currency the more competitive is your trade in a global economy! BUT! when you have ruthless, dishonest people who far from contributing to the national wealth use other peoples' money literally playing the markets like a casino for their own personal gain, with short buying, short selling and that ghastly innovation, hedge funds - that is a recipe for the toilet flush with the downward spiral on an increasingly vicious path. Markets are all about confidence - when people realise that their currency is an IOU in never, never land, that process is accelerated to the unsustainability of whole nations unable to meet the interest on their debts - let alone the debts themselves. Small wonder the banks are now turning back to the traditional currencies of silver and gold! They realise that unless they can gain their wealth through them, they may as well shut up shop!
Thank you David - you are saying much of what I was thinking but I am not an economist but having read your post I could make a better chancellor than Osborne. I have always been worried about the way Osborne and Carney have managed the economy allowing banks and traders to gamble and allowing it to rely far to heavily on the city and not investing in infrastructure shrinking the economy by vicious austerity. Osborne and Carney should not have allowed the housing market to overheat in order to demonstrate growth - this is not true growth especially when GDP is so low. Surely growth comes from rising GDP and not relying in expensive housing that no-one will live in. These owners will not be buying products for their homes or spending money in this country - it is absolutely obscene! I find the situation baffling and cannot understand why Osborne did not invest in growth industries and promotion of training and education and not importing skills. Support of new industry which again requires training and skills - this doesn't appear to have happened - surely Carney as a banker would understand this and advise his chancellor? Austerity has been disastrous and squeezed growth and shrunk the economy. Immigration has helped various public services but has kept wages low but it has halted training and education by the importation of skilled workers when we should be thinking long-term and not, as usual, short-term. Have I understood anything correctly. David?
You understand pretty well, Mary, and what I find so obscene is the total absence of safeguards against foreign money buying up our properties as an investment (just like a commodity on the rise), but with no intention of living in them - inflating the housing prices in the process and driving people out of their domiciles, something to which, our own Prime Minister, Justin Trudeau is waking up to here in Canada - particularly in places like Toronto and Vancouver! Obscene is a good word for it! Maybe Osborne does envisage a future Britain run by slaves. He and Carney certainly seem to be acting thus! GDP made in China, I guess and an ever-extending trade deficit! Carney, is scared rigid, of Obama/Yellen and Draghi, all already anachronisms, in my book, though Yellen is a smart cookie and can adapt to change rather well. Britain still can shine a light and test the market with a bold initiative! All she has to do is raise interest rates, and trump the Fed! Then watch the fireworks! Money will pour into the City! Mark my words, and now is the best possible time to do it with low inflation. Yes, some people will feel the pinch with more expensive credit, but not to be harsh, I feel they should have got used to that pinch a lot earlier!