Originally Posted by i4u:
“But Britain has had enough of experts.”
“But Britain has had enough of experts.”
Unless the expert is carney it seems.
Former BoE chief Lord King says UK should quit Single Market
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Originally Posted by tahiti:
“He came to my University once, and was waffling on (as he does now) about how the euro was bad because the euro zone was too disparate
I asked him why he thought a single currency was good for the UK then, given the differences between North Wales and London, say, and he waffled something about 'the UK being the optimal size for such a thing' ( I do not recall the exact words).
I then asked him about the United States and the US dollar, or Brazil and the real, or India and the rupeeh, and he started getting visibly annoyed
I am sure Lord King will be fine no matter what happens, dear Brexiters. Not so sure about anyone else though.
ps: he is widely held as the worst Governor the bank ever had”
“He came to my University once, and was waffling on (as he does now) about how the euro was bad because the euro zone was too disparate
I asked him why he thought a single currency was good for the UK then, given the differences between North Wales and London, say, and he waffled something about 'the UK being the optimal size for such a thing' ( I do not recall the exact words).
I then asked him about the United States and the US dollar, or Brazil and the real, or India and the rupeeh, and he started getting visibly annoyed
I am sure Lord King will be fine no matter what happens, dear Brexiters. Not so sure about anyone else though.
ps: he is widely held as the worst Governor the bank ever had”
51 states bound by one currency and Free Movement of people, it's a project doomed to failure.
Originally Posted by Mr Oleo Strut:
“X
King sits on a big, fat pension and Lordship after having promoted the very policies he is now criticizing. Hypocrisy oozes out of him.”
“X
King sits on a big, fat pension and Lordship after having promoted the very policies he is now criticizing. Hypocrisy oozes out of him.”
But he's an expert! Remainers believe all experts! We keep being told we should believe them as they know best. Funny how that doesn't always work when you don't agree with them...I wonder if Remainers are 'getting it' yet...
Originally Posted by Mr Oleo Strut:
“I would say exactly the same sbout those who voted for Brexit, with the addition that they were also taken in by a mess of lies, bigotry and spin.”
“I would say exactly the same sbout those who voted for Brexit, with the addition that they were also taken in by a mess of lies, bigotry and spin.”
Well, inevitably some fraction of the electorate will be less well informed than others. You kind of have to hope that the two will balance out.
I too am aware of ignorance on the Brexit side. However there is what I see as the "thinking Brexiter". I don't see this quite so much on the remain side. In fact I think there is a fundamental dishonesty amongst Leading Remainers who seldom if ever present the honest argument in favour of the EU. Such an argument has to be essentially federalist, centralist, arguing in favour of government by a benign but essentially appointed commission and so on. Instead, the remain argument focuses on the supposed dire economic arguments of our leaving.
I think one should be deeply suspiscious of a view that fails to argue the positives whilst appearing to depend on emphasising the negatives.
Originally Posted by i4u:
“51 states bound by one currency and Free Movement of people, it's a project doomed to failure.”
“51 states bound by one currency and Free Movement of people, it's a project doomed to failure.
”
OK, how much is a one way ticket, we'll have a whipround?
Originally Posted by i4u:
“51 states bound by one currency and Free Movement of people, it's a project doomed to failure.”
“51 states bound by one currency and Free Movement of people, it's a project doomed to failure.
”
The USA is a federal state with a directly elected federal government in which most of its citizens feel some common identity. It works in ways that the EU doesn't.
Originally Posted by Andrew1954:
“The USA is a federal state with a directly elected federal government in which most of its citizens feel some common identity. It works in ways that the EU doesn't.”
“The USA is a federal state with a directly elected federal government in which most of its citizens feel some common identity. It works in ways that the EU doesn't.”
It also came about in the way the EU didn't. It happened as a result of episodes of violence and suppression over many years. There is no real comparison.
Originally Posted by mungobrush:
“King was one of the 4 people responsible for the 2008 financial crash
Along with Alan Greenspan, Gordon Brown and Bill Clinton
https://www.theguardian.com/business...reat-recession”
“King was one of the 4 people responsible for the 2008 financial crash
Along with Alan Greenspan, Gordon Brown and Bill Clinton
https://www.theguardian.com/business...reat-recession”
No, the bankers were responsible for the 2008 crash. They were the ones who threw our money away on worthless US sub prime mortgages.
Originally Posted by allaorta:
“It also came about in the way the EU didn't. It happened as a result of episodes of violence and suppression over many years. There is no real comparison.”
“It also came about in the way the EU didn't. It happened as a result of episodes of violence and suppression over many years. There is no real comparison.”
How it came about isn't really relevant, it shows that disparate cultures and disparate economies can prosper under a federal system and single currency.
Originally Posted by Palafrugel:
“http://www.bbc.co.uk/news/business-38421769
Interesting that such an expert and establishment figure is going against the tide here.”
“http://www.bbc.co.uk/news/business-38421769
Interesting that such an expert and establishment figure is going against the tide here.”
It would be more interesting if how told us why he was optimistic or specifically what opportunities there were to profit from this.
Originally Posted by Andrew1954:
“The USA is a federal state with a directly elected federal government in which most of its citizens feel some common identity. It works in ways that the EU doesn't.”
“The USA is a federal state with a directly elected federal government in which most of its citizens feel some common identity. It works in ways that the EU doesn't.”
That sounds like an excuse...admit it's 51 states that came together after a civil war, which began with a small number of states wanting out fearing they were losing their representation. Sounds familiar.
Yet America with one currency & free movement of people manages to be extremely successful.
China is said to exercise jurisdiction over 22 provinces, five autonomous regions, four direct-controlled municipalities and two mostly self-governing special administrative regions, which has a single currency for a population of 1.4bn....which is expected to overtake America by 2025.
India a population of 1.2bn and again a single currency.
Originally Posted by i4u:
“That sounds like an excuse...admit it's 51 states that came together after a civil war, which began with a small number of states wanting out fearing they were losing their representation. Sounds familiar.
Yet America with one currency & free movement of people manages to be extremely successful.
China is said to exercise jurisdiction over 22 provinces, five autonomous regions, four direct-controlled municipalities and two mostly self-governing special administrative regions, which has a single currency for a population of 1.4bn....which is expected to overtake America by 2025.
India a population of 1.2bn and again a single currency.”
“That sounds like an excuse...admit it's 51 states that came together after a civil war, which began with a small number of states wanting out fearing they were losing their representation. Sounds familiar.
Yet America with one currency & free movement of people manages to be extremely successful.
China is said to exercise jurisdiction over 22 provinces, five autonomous regions, four direct-controlled municipalities and two mostly self-governing special administrative regions, which has a single currency for a population of 1.4bn....which is expected to overtake America by 2025.
India a population of 1.2bn and again a single currency.”
I'm unclear what point you think you're making. You're not comparing like with like. The USA, Germany, Australia, China, Canada are states in federal union. They all have federal governments each of which have overall responsibility for macro economic matters and the workings of the their respective single markets. Most significantly these economic responsibilities do not reside with the member states. By comparison the EU is quite different. It isn't a federal state. It doesn't have a federal government. The individual nation states were not constrained from making poor economic decisions, borrowing vast sums at inappropriate interest rates for their local economies for example. Many should not have been able to become members of the Eurozone in the first place.
In some ways free movement is a different but related matter. In reality the migration of people and capital occurs and cause problems in federal states in exactly the same way that it has occured in the EU, it's just that we don't think of it that way. In principle of course federal governments, because they have overall responsibility, can and do transfer wealth to poor regions. On the other hand in the EU the member national governments remain responsible for national economic policies, employment etc. But their hands are tied because they do not have control of their economies. It's a mess basically.
Originally Posted by allaorta:
“There was a widespread international agreement to reduce banking and other controls in 1996, under the Conservative government, with the purpose of creating a globalist market.”
“There was a widespread international agreement to reduce banking and other controls in 1996, under the Conservative government, with the purpose of creating a globalist market.”
If you are referring to the Basel II accord that had nothing no to do with the EU
And each country had flexibility in its implementation
I implemented Basel II in an Australian Bank
Not every country went down the gurgler like the UK
Originally Posted by mungobrush:
“If you are referring to the Basel II accord that had nothing no to do with the EU
And each country had flexibility in its implementation
I implemented Basel II in an Australian Bank
Not every country went down the gurgler like the UK”
“If you are referring to the Basel II accord that had nothing no to do with the EU
And each country had flexibility in its implementation
I implemented Basel II in an Australian Bank
Not every country went down the gurgler like the UK”
I wasn't referring particularly to any of the Basel accords, though they played a part in what happened. It was a decision taken by world banking in 1996, with full backing of national governments, all in the name of globalism.
Originally Posted by allaorta:
“I wasn't referring particularly to any of the Basel accords, though they played a part in what happened. It was a decision taken by world banking in 1996, with full backing of national governments, all in the name of globalism.”
“I wasn't referring particularly to any of the Basel accords, though they played a part in what happened. It was a decision taken by world banking in 1996, with full backing of national governments, all in the name of globalism.”
Could you maybe please give us a slightly more precise reference?
Former BoE chief Lord King says UK should quit Single Market
Such is the desperation of Leave voters that they will quote any isolated outlying opinion, such as Professor Laurent Boiseau who holds the Professorship of Economic Illiteracy at East Donkeystan University, even if that opinion represents only 1% of current economic thinking. It is just yet more gross self delusion and denial of economic actuality.
Such is the desperation of Leave voters that they will quote any isolated outlying opinion, such as Professor Laurent Boiseau who holds the Professorship of Economic Illiteracy at East Donkeystan University, even if that opinion represents only 1% of current economic thinking. It is just yet more gross self delusion and denial of economic actuality.
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