Brexit, aka, the UK Shoots Itself


#2650

Now this is worrying.

Solid numbers like that should worry people.

Although I can already see the snide reply - knock London down a bit.


#2651

Looking at the socmedia thread under where i found that story

  • It’s CNN therefore a lie
  • CNN is reporting on Ernst Young who are liars
  • Good, Iceland doesnt need banks neither do we
  • Destroy all banks
  • City/Lizards/Illuminati something something
  • I wouldnt have seen the tax
  • Taxes arent paid on it anyway

I tried to explain how the City provides the service of managing the money, and the revenues are from services provided and the more we manage and the more than flows through the City the more money goes to British people but everyones a fucking idiot tbh.


#2652

London’s primacy in the financial markets is one of their key reasons for British wealth over the last 70 years. Losing the dominance of financial markets to, for example, Berlin and Mew York? That would permanently decrease the standard of living in the UK.


#2653

There’s a narrow strip of centrism that recognises the need for the financial sector with heavy regulation to stop another crash but i think the assault on banking is fairly cross spectrum. If you think Brexit is bad for the City then you need to realise hard left’s ideal banking model is Turkmenistan. Mcdonnell and Corbyn have a command economy and full state control of financial system lined up. Only possible under Lexit of course.


#2654

I mean I get that hating on banks is not a partisan issue. And you know what? It’s fairly well deserved. International financial companies and banks have been absolute shit heels and charlatans for years. Their malfeasance and greed is well documented. So I can certainly sympathize with a ‘fuck ‘em in the ear’ attitude.

However I temper that with a pragmatic perspective. They can be beneficial to a city and country if properly regulated, and their excesses curbed. So I view it as a they are important, but in the same way a lion is an important draw in the zoo. People come there to see it, and the zoo would be far less interesting and valuable without it.

But you don’t let the lion walk around the paths unimpeded. You control that shit. You set the bounds of what the lion is allowed to do.


#2655

Are we gonna need to update our memes so Chairman Meow has a monopoly suit and a monocle?

image


#2656

Yup, and its all we have now, the UK is never going to return to coal mining and steel production.

I’ve worked in transactional banking, trade (L/Cs etc) and syndicated loans in the industrial sector on and off over the years. The global economy isnt sustainable without these huge institutions and their capacity to support transactions and loans to the value of trillions per day. If you want to move goods and commodities and the rate the world of 2019 consumes them, if you want to build large scale industrial equipment and infrastructure you are going to need a financial sector to match. None of this has the risk profile of what caused the crash, thats an entirely different part of the sector.


#2657

Mostly, sure, though the banks did take a bath on Alliance Boots etc. More symptom than cause though.


#2658

I like this Irish Border guy.


#2659

More good news. The sliver of hope is getting wider :)


#2660

I’ve been reading all day about the looming Parliamentary coup. Tuesday will be an interesting day.


#2661

I saw first hand one new game studio location moved from the UK to the EU because of Brexit. It was “only” 40 new tech jobs but I do wonder how common the investment flight has been.


#2662

Looks more and more like an extension until June. Anything could happen - good and bad - if the deal is voted down.


#2663

Why don’t you guys just have another vote on it, given how Russia influenced the election?


#2664

Im for it, but its still a danger because

  • people are fucking stupid - people were choosing “no deal” in a recent survey because they thought it meant No Brexit.

  • millions of racist fucks and are still fucking racists


#2665

Why didn’t the US re-run the presidential vote given how Russia influenced the election?


#2666

I’ll be absolutely disgusted if parliament blocks Brexit in some manner. It would essentially make a mockery of democracy. Why even bother holding a referendum in the first place if you’re going to just ignore the result?

“There are some in Westminster who would wish to delay or even stop Brexit” - Theresa May says democracy will “suffer catastrophic harm” if Brexit isn’t delivered."


#2667

Hey, I’m all for it!


#2668

Oh come now. The referendum wasn’t a mandate, it is to inform the MP’s who we elect to represent us in a competent manner. If it’s suicide to the economy, and they are informed as such by relevent experts who you know, know things… and the ‘will of the people’ is basically 50/50 (+2 Russia)… then their job is to not ruin the country.

If we held a referendum where every citizen should be gifted a million pounds and it goes through with 90% yes, will parliament rubber stamp that? No, because their job is to the country, not the whims of the rabble at the moment. (But to be fair, I am fairly certain they’d ruin the country to save themselves politically.)


#2669

Because an election isn’t the same thing as a non-binding referendum?

It seems to me that if Parliament has to choose between a no-deal Brexit and no Brexit, their representative responsibility to their constituents requires them to choose the latter. And, it’s beginning to seem that way to them, too.