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April 19th, 2016, 09:41 PM | #121 |
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As a rule of thumb, countries which export a lot have strong currencies and countries which import a lot in excess of what they export have weak currencies. If I were a British company needing to source something in Russia (except the sort of things which are traded in USD, such as oil or grain) I would expect to pay in roubles and to have to convert GBP into roubles. I sell GBP and the demand for GBP has fallen. I buy roubles and the demand for roubles has gone up.
In 1953 Britain still exported a lot of manufactured goods and at that time the rate was nearly DM12 = GBP £1. But since then Germany has become a leading world manufacturer and Britain has lost a lot of market share, though believe it or not Britain remains a leading world manufacturer as well. In 1953 Britain would have ranked second after the USA (or maybe third after the USSR, whose figures and statistics were either unavailable or unreliable). Today, we rank seventh [but Italy ranks sixth and frankly I suspect them of adding in the unofficial economy; no way Italy makes more shit than Britain] and Germany ranks fourth. The point being, though, that Britain has experienced weakening currency and sterling crisis after sterling crisis because she has run a trade deficit a lot of the time. But this wouldn't make British goods cheap, unless they were made using exclusively British materials and labour inputs. What would happen is that Britain would be paying more GBP to buy the same quantity of imported materials and this would have to be passed on to the end customer who would pay a higher price. Demand would fall at the higher price, but the manufacturer can only cut his margin so far and will refuse to supply if the price is not viable. There was a change between 1970-72, when I remember BBC Look North banging on about the German shoppers, and after 1973, when Britain was an EU member state. Even though our currency continued to fall against the DM, the Germman shoppers weren't coming so much as they did before. Sales tax had replaced purchase tax and the duelling banjoes from Deliverance were starting to play.
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April 20th, 2016, 05:45 AM | #122 |
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Looks like the penny/cent is dropping for some EU boffins
EU should 'interfere' less - Commission boss Juncker http://www.bbc.co.uk/news/world-europe-36087022 Wake up and smell the coffee, many of us have been saying this for years, it has grown into an amorphous bloated beast.
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April 20th, 2016, 06:40 AM | #123 |
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Google 'Junker Quotes' and you will see what a complete nightmare this arrogant tosser is. Until the European Commission and is destroyed there is little hope for the peoples of Europe.
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April 20th, 2016, 09:35 AM | #124 | |
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http://www.reactionengines.co.uk/space_skylon_tech.html This was recently given a clean bill of health by the European Space Agency, and we could possibly have a Earth to Space Vehicle in 10 years, if not sooner. This one invention has unlimited potential for Britain, let's not miss this opportunity like we have done so many times in the past. On the other hand, I do think that Jean_claude Junker is a prize Berkeley Hunt. For our American cousins, that's rhyming slang...
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April 20th, 2016, 10:38 AM | #125 |
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Sydney, I would rather stay in but until we get rid of people like Junkers it's a no brainer for me. Oh by the way it is virtually impossible to get rid of Junkers, the Commissioners wrote the rules and apart from not paying taxes they also made sure that they are fixed like stone.
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April 20th, 2016, 10:57 AM | #126 |
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I just love the way that Politicians are so incompetent that they can't make a decision on this issue.
"Nope, have not a clue what to do so we will leave it in the hands of you, the people." Isn't that how we got into Europe in the first place? Sometimes, you just have to laugh. Jag. (We know better than you, just wait and see .... )
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April 20th, 2016, 10:05 PM | #127 | |
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But that's old news now. What strikes me now is that we are not being offered a structured case by either side in this question. George Osborne tells us that leaving will cost us £4,300 per household per year by 2030 as if he can possibly know such a thing about a future which is 14 years away. He didn't forecast a banking collapse and a world economic crisis in 1995, did he now? But that is the miserably shallow and thin debate we are being offered. The "Leave" side aren't any better as far as I can tell: so far Boris Johnson is more full of shit than Blackpool Beach. One thing is for sure. Anyone who will be decided either way on purely economic grounds is not thinking properly about the question. David Cameron made a huge display of demanding reforms before calling the vote, but without a formal treaty there has in fact been no reform. Forget his "deal"; this vote is about the actiual EU we already know.
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April 21st, 2016, 02:15 AM | #128 | |
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Major constitutional issues such as the Reform Acts, the Parliament Acts and the various Representation of the People Acts, had never previously been decided by plebiscite until Wilson held the 1975 referendum and thus bypassed his own divided party. I don't like referenda [dums] - it's bad enough the ignorant masses having a vote in General Elections without letting them loose on single issues. |
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April 21st, 2016, 06:33 AM | #129 | |
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April 21st, 2016, 10:25 AM | #130 | |
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Thus the Act of Union, although it affected and diluted the sovereignty of both England and Scotland, did not lead to a referendum [ not that there were many eligible to vote in either country]. Last edited by otokonomidori; April 21st, 2016 at 10:32 AM.. |
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