Oh we have a brexiter. What a surprise.
Pound in biggest monthly fall against the dollar since 2016...
- Thread starter ellal
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I'm not and never have been a fan of the EU, it's an organisation built on austerity and neoliberalism. I didn't vote in the referendum.
However, brexit, the way these sovereign individual types will implement it will be a disaster for the general public in the UK, it didn't have to be. Deregulation and a race to the bottom.
You obviously don't understand the importance of controlling your own currency.
Why would any country give up their own currency (and the fiscal capacity it provides) and effectively use a foreign one?
You twisted what I said about the German bank link - I just mentioned it's comments about the reasons for inflation. Currency wise those aspect do not matter. You chose to throw in other stuff that I didn't bother to read.
Brown's reason for rejecting the idea later - loosely speak similar but more complicated
www.theguardian.com
Personally I would also add that at the time Europeans were finding some aspects of visiting the UK expensive. This can relate to labour rates - something parties appear to want to keep low in all sectors.
The reason for doing that as the EU has are obvious. The only reason we are not in it goes back to the early days - not being able to control the GBP value in the so called snake.
Brown's reason for rejecting the idea later - loosely speak similar but more complicated
Key points: Gordon Brown's statement on the euro
· Britain is not yet ready to join the single currency, Gordon Brown told the Commons today, because four of his five economic tests have not been met.
www.theguardian.com
Personally I would also add that at the time Europeans were finding some aspects of visiting the UK expensive. This can relate to labour rates - something parties appear to want to keep low in all sectors.
I didn't twist anything. I pointed to the obvious facts; it's a German (not UK) bank, it's a monetarist organisation, therefore regardless of the problem their only'solution' will be interest rate manipulation... How will that help anyone?You twisted what I said about the German bank link - I just mentioned it's comments about the reasons for inflation. Currency wise those aspect do not matter. You chose to throw in other stuff that I didn't bother to read.
The reason for doing that as the EU has are obvious. The only reason we are not in it goes back to the early days - not being able to control the GBP value in the so called snake.
Brown's reason for rejecting the idea later - loosely speak similar but more complicated
Key points: Gordon Brown's statement on the euro
· Britain is not yet ready to join the single currency, Gordon Brown told the Commons today, because four of his five economic tests have not been met.
Personally I would also add that at the time Europeans were finding some aspects of visiting the UK expensive. This can relate to labour rates - something parties appear to want to keep low in all sectors.
The inflation is supply side. The only way to ameliorate the worst of it is to expand capacity, that's not possible in the short term so there will be pain (and probably energy rationing) for those least able to bear it.
You didn't read anything about currency use?
Fair enough, I'll draw the only possible conclusion - you have no idea how the money system and government fiscal ops work in the UK (a currency issuing govt) or the ramifications of having your own currency.
If you are going to behave like an infant I'll consider you out of the discussion.
All the best.
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The page splits inflation into 2 periods - that is the only reason I posted the link.
Exactly what do you think ours is - and many others.
There is an in the Euro catch but you have failed to mention it. Curiously it relates to QE.
Keep up.
None of the inflation we are seeing is demand led, it's all supply side.
That doesn't make sense but, if you are referring to the treaty breaking ECB APP then what else could it do? Nothing?
Fiscal aspects. Explain this, some of the most affluent countries in the world
High levels of public spending naturally require high levels of taxation. In 2019, Denmark's tax-to-GDP ratio was at 46.3 percent, Norway's at 39.9 percent, and Sweden's at 42.8 percent. This compares to a ratio of 24.5 percent in the United States
www.statista.com
High levels of public spending naturally require high levels of taxation. In 2019, Denmark's tax-to-GDP ratio was at 46.3 percent, Norway's at 39.9 percent, and Sweden's at 42.8 percent. This compares to a ratio of 24.5 percent in the United States
Nordics: debt rate nordic countries 2021 by country | Statista
In 2021, Iceland is predicted to have the highest debt rate of the Nordic countries, followed by Finland.
www.statista.com
D
Deleted member 18243
It's true, we have an embarrassment of riches in our country...but we cannot get at them. Why? The government stands in the way.
Take the energy crisis. We have 100s of years of coal beneath us, yet we won't mine it; have demolished coal power stations and pay 5.3 million working age adults to do nothing. Bring back the Bevin boys!
A.J. you can call it any fancy name you want, but MMT is money printing aka devaluation aka hyperinflation and it is wrong. Those who indulge in it are high level crooks. Gordon Brown was the first British chancellor to use it - and why? Because other countries were doing it. That's the same reason Boris imposed lockdown and the covid measures - because other countries did it. Would Mrs. Thatcher have copied other countries in doing these things? Certainly not.
All your bumpf about "QE" is merely describing the technicalities of it with of course no mention of the morality, and I no more want to know about it than I would want to know how to steal a car or how to take heroin. You can print a much funny money as you like, but you are not creating anything, you are only making everybody's pound worth less than before, and therefore making the people pay more for everything, and thenceforth dwindling the savings and reserves of responsible people and businesses. It is a redistribution of wealth, a form of communism, which is why it is popular with the modern politician, who despises the working man and has no experience of business and the world of work and industry.
Correct. Inflation is the increase in the supply of money by governments...quite literally inflation, as in pumping up your car tyres. The meaning has been corrupted by corrupt politicians over the years, so that most people think that rising prices cause inflation. They don't - inflation causes rising prices.
When the pound was devalued in the 60's it made the headlines, nationally and internationally. I suspect few people realise that the devaluation QE has caused dwarfs that devaluation at least by a factor of 10.
We are devaluing on a daily basis.
I wonder if aj has an original thought of his own anymore, has he's given over to Google to dictate his form of thinking seemingly.
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Thank goodness Blair never managed to join the Euro.
Is that a real image - how cool if it is
When the pound was devalued in the 60's it made the headlines, nationally and internationally. I suspect few people realise that the devaluation QE has caused dwarfs that devaluation at least by a factor of 10.
We are devaluing on a daily basis.
It can be inflated away.
Lol, tell me in as many words as you can muster that you have zero idea how the money system works in the UK.
Thatcher? Her lie that "there's no such thing as public money ..." and her insistence on neoliberal, monetarist ideology is a major reason the country is in the dire state it's in.
That's genuinely hilarious. QE is communism? Lol, just when you think you may have heard it all.
QE isn't money creation - check the WGA 2010-2011.
QE makes people's pounds worth less? Eh?
Here are some facts for you:
Let's check the evidence;
BoE began QE in 2009, inflation was 2.1%.
Following years:
2010 - 3.1%
2011 - 3.7%
2012 - 2.4%
2013 - 1.9%
2014 - 0.7%
2015 - 0.5%
2016 - 1.8%
2017 - 2.7%
2018 - 2.0%
2019 - 1.4%
You should spend some time researching what MMT actually is, not what someone who doesn't understand it you told you it was.
Thatcher? Her lie that "there's no such thing as public money ..." and her insistence on neoliberal, monetarist ideology is a major reason the country is in the dire state it's in.
That's genuinely hilarious. QE is communism? Lol, just when you think you may have heard it all.
QE isn't money creation - check the WGA 2010-2011.
QE makes people's pounds worth less? Eh?
Here are some facts for you:
Let's check the evidence;
BoE began QE in 2009, inflation was 2.1%.
Following years:
2010 - 3.1%
2011 - 3.7%
2012 - 2.4%
2013 - 1.9%
2014 - 0.7%
2015 - 0.5%
2016 - 1.8%
2017 - 2.7%
2018 - 2.0%
2019 - 1.4%
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