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[pendragon2] 04/1/2019 07:04

The stupidity of Barnier's hard won intransigent 'deal' for the EU begins to become clearer:

"Dublin has told European Commission officials it will apply for the cash to mitigate the impact of no deal on its beef, dairy and fishing sectors, the Irish Independent reported on Thursday.

“You’re looking at hundreds of millions here. Between the beef industry and the fishing industry we’re talking mega-money,” said Michael Creed, the agriculture minister."

Cut off nose, spite face.

[geert great] 03/1/2019 21:08

TOMMY ROBINSON: The Interview That Broke RECORDS In Australia

[geert great] 03/1/2019 20:55

"For six years during the war, U-boats, the Luftwaffe, the Wehrmacht, couldn’t starve us out.And yet we are told that a bunch of bureaucrats from Brussels, armed with...

....who do you think you are kidding, Mr Hammond?"

Sammy Wilson MP
DUP Brexit Spokesman

[geert great] 03/1/2019 20:35

The European Union's Directorate-General for Home Affairs published a study on redistributing "refugees" which calculated Britain could handle a population of 184,038,648 million.

No, thanks.

[brucie5] 03/1/2019 18:44

So according to Ben Gummer on R4 this evening, 90 per cent of government's time is on brexit, a figure that will only continue for next ten years if TM's motion - the best a available deal - gets through. Because of course it only sets the course for further wrangling. Yet Michael Gove is telling the farming community in Oxford today that the risks of opposing TM's deal are unconscionable to farming and smaller businesses. A shame he didn't think to mention this in 2016. And also sets him at odds with his former brexiteer chums on the ultra side, who want to cast off into outer darkness, on the basis that anything less would be a betrayal. Well they clearly knew what brexit meant... Err, NOT.

You could hardly make this up.

People's vote looking increasingly like the only solution. The only person in the Labour party who seems to block them from getting behind is red Jeremy. Ironically now the ally of Mogg and Boris, all wanting and believing that they will somehow profit from making the country poorer. To whose benefit?

[geert great] 03/1/2019 17:55

China sends a spacecraft to the dark side of the Moon.
Meanwhile the UK sends £1.3bn to China



AID FARCE: £1.3BN fund to help elderly in China? As Britain’s social care system BUCKLES
BRITAIN’S foreign aid budget is being offered to help China’s elderly - despite our own social care system being at crisis point.
By KATIE MANSFIELD
PUBLISHED: 14:13, Tue, Feb 7, 2017 | UPDATED: 17:19, Tue, Feb 7, 2017

[geert great] 03/1/2019 17:42

Huge if true.

[aleman] 03/1/2019 09:23

US Treasury yield curve is now basically flat from 1 year/2.60% to 10 years/2.63%. Some might argue that it isn't far off flat for the whole curve now, with 30 years at 2.95%. Another rate rise/and or bad week that sees more panic buying of the long end could see the whole lot completely invert.

[maxk] 03/1/2019 08:09

The euro has failed, threatens democracy, and should be abolished


AMBROSE EVANS-PRITCHARD

2 JANUARY 2019 • 9:18PM


To be charitable, you could say the euro has proved itself merely by surviving until its 20th birthday this January. That is a low bar.

Monetary union has otherwise failed as an economic and political endeavour. The evidence of Europe's 'Lost Decade' is that it can only ever be made to work under a regime of technocrat Caesaropapism, that is to say by stripping elected parliaments of their lifeblood control over taxation, spending, and the core economic policies of the nation state.

“One day, the house of cards will collapse,” says Professor Otmar Issing, the founding chief economist of the European Central Bank and the chastened prophet of the euro project.



More if you sign up:

[7kiwi] 02/1/2019 21:50

Back to macro. This can't be bullish for equities.

Chinese M1 and M2 hit all time low



Via Zerohedge.

[grannyboy] 02/1/2019 21:11

"On what terms will 1.3bn popn China and 310m popn USA"

I should imagine it will be similar to when they do deals with countries like Australia/New Zealand, Mexico..Peru..etc..etc. A lot of countries have smaller populations then the UK but are still looked On as a market to import/export their products, a lot aren't as rich as the uk either, the UK is the 5/6 largest economy in the world ....

But there needs to be negotiators who know how to negotiate...May and her cohorts have no idea...

[maxk] 02/1/2019 21:06

Poor ol Brucie..

[brucie5] 02/1/2019 20:26

Kiwi, I'm afraid the idea of an 'immediate start' may be easier to entertain than the several years it is likely to take to do a substantive deal. And we will be so desperate to clinch one that the Yanks will be able to ask pretty much for what they want. Not because they hate us, but because, well, their trade deals are executed by pretty sharp lawyer types who see a patsy a mile off. Which is what we'll be without the shared protection of the EU. The Brexiteers all like to insist that we should feel free to 'walk away' from a bad deal with the EU (which happens also to be the only deal that's available to us)but somehow become misty eyed when it comes to THAT DEAL we're going to walk straight into with Uncle Sam.

Why do you think the tiny Republic of Ireland is so enabled to play hardball over the border issue? It's called solidarity, or strength in numbers. That's what we lose here, along with the negotiated right that already exists to trade with markets like China and Japan.

Which we've now got to renegotiate from a position of weakness.

Which is why there's scarcely an economist of any note who thinks this is anything but foolishness on an epic scale.

[blusteradjuster] 02/1/2019 20:06

“Immediately start”

You make it sound short and sweet.

So how many years do these trade deals take to negotiate?

On what terms will 1.3bn popn China and 310m popn USA trade with 65m popn UK?

Reckon you can have your cake and eat it with those gorillas?

[7kiwi] 02/1/2019 18:55

To be honest Brucie, I now think our best option is to go for "No Deal". There'll be a bit of short term disruption. But on the upside:

1) We'll save £39bn. Preferably delivered as tax cuts, and to fund a transition to a mixed healthcare system, like say, Singapore who have longer life expectancy and better health outcomes than the UK.

2) We won't be subject to arbitrary EU rules and laws

3) We can immediately start negotiations on other trade deals

[grannyboy] 02/1/2019 18:18

'The £350ml line on the Brexit bus was wrong. The real figure is higher.'

blogs.spectator.co.uk > 2017/10

[maxk] 02/1/2019 18:10

So there you have it kiwi, only remainer lies have any validity,

[brucie5] 02/1/2019 17:50

geert great seems to be a regular on the 'ukip' and 'civil war' threads. Another troll out of the Russian troll factory, along with that charmer Dr. Pigs blood.

I have to say the feeling is mutual.

This Brexit project has some fairly distasteful bedfellows.

[7kiwi] 02/1/2019 17:10

I must say, I get fed up of this 'lies on the bus' trope.

Yes, they did exaggerate by putting the gross payment of £350m a week on there. And I wish they hadn't. But does anybody really think that if they had put the net payment on there instead - £200m or so, it would have made a blind bit of difference to the result. Both are very large numbers.

But the really irksome thing is that none of the Remoaners acknowledge the totally discredited Project Fear:

Immediate and profound economic shock,
Recession
500,000 more unemployed
House Prices falling 18%
Punishment budget

None of it happened. Indeed growth has continued pretty much as before the vote and employment has increased.



It is not at all "vapid" to wish to see our country execute an independent trade policy by entering into trade deals with the US, China, Aus, NZ, India, the rest of the Commonwealth etc. It is plain stupid not to want to make the best of Brexit.

[zho] 02/1/2019 15:09

Brucie,

The story about tens of thousands of sealed indictments has been around for months. The number keeps growing and growing.

Is there anything of substance there? I'd guess not if the feel of the sites pushing the story is anything to go by.