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Post by Vinny on Sept 11, 2023 17:35:46 GMT
I know what an overvalued currency can do, it can cause an industrial exodus, and did.
You've pointed out yourself Steve that post referendum the economy picked up, our exports to the EU started rising instead of falling.
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Post by Steve on Sept 11, 2023 19:18:51 GMT
I know what an overvalued currency can do, it can cause an industrial exodus, and did. You've pointed out yourself Steve that post referendum the economy picked up, our exports to the EU started rising instead of falling. Have you checked that in world currency terms? |
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Post by Vinny on Sept 13, 2023 5:19:46 GMT
How many cars did Ford make in the UK from 2001 onwards?
How many cars were made by Peugeot from 2007 onwards? None and none.
Ford Transit vans from 2013 onwards? None.
How many cars were made at Longbridge from 2006?
Why did BMW call Rover "The English Patient"?
Overvalued currency had a drastic effect on domestic manufacturing and a very beneficial effect for importers.
Very good for foreign countries, very bad for us.
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Post by Steve on Sept 13, 2023 9:13:26 GMT
It wasn't over valued as of June 15th 2016, it fell over 15% after the result was known leading to 18 months of real terms wage eroding inflation compared to comparable economies. A loss never recovered.
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Post by Vinny on Sept 13, 2023 9:44:17 GMT
It was overvalued until the 24th of June 2016.
The FTSE 100 soared.
Unemployment fell.
The doom and gloom predictions of George Osborne failed to occur.
And lets face it, the doom and gloom predictions of George Osborne simply made the remain argument look ridiculous.
They had no positive case for membership, only a load of scaremongering bollocks.
Brexit, has been a success.
Not the success it could have been with a better tariff policy and a lack of tariffs on things we don't grow or make, but a success nonetheless.
Above inflation exports.
Improved global standing.
Independent trade policy and the ability to negotiate bilateral FTAs.
I'm rather enjoying it.
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Post by Steve on Sept 13, 2023 20:51:29 GMT
Osborne was an idiot, that's why he was never allowed to be part of the Remain campaign. Problem was Cameron (who was) couldn't be seen to say "will no one rid me of this idiot?"
The £ was not overvalued for an in the EU position. Saying it was is just another lie Leavers have to push to cover up how they damaged the UK.
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Post by Vinny on Sept 13, 2023 21:35:12 GMT
You're right about Osborne being an idiot, but he was front and centre in the remain campaign visiting businesses including BAE Systems often wearing a white hard hat. The IMF assessment that the pound was overvalued was absolutely correct, it excessively hindered exports for years which is why Ford stopped making cars and vans here. And why Cadbury's relocated production to Poland, why even HP Sauce stopped being made here. Things weren't working Steve. Update here's a video of George Osborne at the centre of the remain campaign: youtu.be/K18mExM0Yu8?si=h9pApGnIlSVb-O_q |
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Post by Steve on Sept 13, 2023 21:39:29 GMT
You're right about Osborne but the IMF assessment that the pound was overvalued was absolutely correct, it excessively hindered exports for years which is why Ford stopped making cars and vans here. And why Cadbury's relocated production to Poland, why even HP Sauce stopped being made here. Things weren't working Steve. The IMF said it was overvalued at $1.85 Your pyrrhic Brexit is what took it down from $1.60 to $1.20 which because since Victoria was on the throne we've always had to import so much food meant real terms living standard cuts for many. You must be so proud. |
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Post by Vinny on Sept 13, 2023 21:44:06 GMT
It was still overvalued at $1.60.
Now it's working. It's at a decent exchange rate which helps exports.
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Post by Pacifico on Sept 13, 2023 21:53:00 GMT
On 31st May 2016 £1 was worth $1.45 - now it is worth $1.24.
Which is a 15% devaluation, the amount the IMF suggested it was overvalued at the beginning of 2016.
Seems that we are at about the correct level now.
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Post by Steve on Sept 13, 2023 22:00:15 GMT
On 31st May 2016 £1 was worth $1.45 - now it is worth $1.24. Which is a 15% devaluation, the amount the IMF suggested it was overvalued at the beginning of 2016. Seems that we are at about the correct level now. The 'correct level' is set by the market and pre May 2015 the market believed we would stay in the EU. Then Cameron won that 2015 election (in dodgy circumstances) and the market priced in the now committed to referendum and the % chance it'd go for leave. Leavers really need to do the adult thing and own their own shit. |
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Post by wapentake on Sept 13, 2023 22:24:42 GMT
On 31st May 2016 £1 was worth $1.45 - now it is worth $1.24. Which is a 15% devaluation, the amount the IMF suggested it was overvalued at the beginning of 2016. Seems that we are at about the correct level now. The 'correct level' is set by the market and pre May 2015 the market believed we would stay in the EU. Then Cameron won that 2015 election (in dodgy circumstances) and the market priced in the now committed to referendum and the % chance it'd go for leave. Leavers really need to do the adult thing and own their own shit. Priceless mentioning the adult thing,so many childishly refused to accept a legitimate vote and democracy in action so had to conjure up a picture of stupid people gullibly voting for a position we’d held for hundreds of years and successfully,our tenure in the eu from the various guises covered a mere four decades. |
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Post by Steve on Sept 13, 2023 22:31:57 GMT
It was the biggest illegal act in modern UK electoral history. And you think that shouldn't get mentioned?
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Post by Red Rackham on Sept 14, 2023 3:30:20 GMT
It was the biggest illegal act in modern UK electoral history. And you think that shouldn't get mentioned? Serious question, are you compos mentis? The biggest illegal act in modern UK history was John (The bastard) Major handing the UK to the EU without the consent of the electorate. |
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Post by jonksy on Sept 14, 2023 3:38:04 GMT
They also tell a lot of lies and behave like spoilt children. For many I'm sure it's also like being stalked by a crazy ex that just won't let you go. You're confusing us with the Manfrog and his toadies. It must come as a culture shock for the remnants to see their lies and and predictions crumble faster than a blairs PFI hosital. |
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