Fuck Me, two articles in a day! Must be bad!
Message to Brexiteers who Don’t understand the effect of the fall in the pound.
Quora: Why do Brexiteers credit Remainers with the power of talking down the economy but not believe in their own power to talk it up?
In effect Brexiteers have become relatively silent. There is no campaign to overturn the Brexit result from Brexiteers after all, and no need to nit pick, finding flaws in the decision to leave the EU.
If on the other hand you feel an injustice has been perpetrated some people will flail round indiscriminately trying to sabotage the result- and some Remainers are doing this. For them the ends justify the means. They would wreck the economy to get their way. They are showing the same level of ignorance that they suggest Brexiters suffer from.
Brexiters are attempting to get Remainers to wise up and not talk down the economy but you are suggesting we expend effort to first of all neutralize the naysayers and then to expend more time to basically create the positive. How about not laying down the gauntlet in the first place? How about letting us get on with our day jobs which are already contributing to the economy rather than making us do another part time PR job?
I noted yesterday in an article in the Daily Mail that UK firms have added £200 billion to their stock value since Brexit, and this is partly because of the fall in the pound- the thing Remainers have used as the stick to beat Brexiteers with. Of course this is creating other problems for firms having to buy raw ingredients or components from abroad, and many companies will go to the wall as a result. So keep talking down the economy- and if you consider Brexit to be bad, you are making it worse. Vis a vis the boon that the cheap pound has been and also the problems it is causing, I would suggest somewhere in between lies a happy medium.
Of course that does not, or should not stifle legitimate debate- as every Remainer insists they are not to be excluded from whatever constitutes the final negotiating position.
OK, let’s look…
…Hold on, hold-on. Just, this…
“I noted yesterday in an article in the Daily Mail that UK firms have added £200 billion to their stock value since Brexit, and this is partly because of the fall in the pound- the thing Remainers have used as the stick to beat Brexiteers with“
ROFPMSL!! Indeed. Using the Daily Mail as a source of fact? Why do Brexiters use that as a source of fact? The world doesn’t consider the Daily Mail a source of fact. Wikipedia banned it as a source of fact. Plus, this story doesn’t even exist!
OK, let’s play with the numbers anyway, just to show how much crap they’ve just spouted.
The FTSE 100 trades in points, not pounds. There is a linear equation which maps the two. The same is true of AIM, FTSE 250 etc. So that’s the first false statement. It isn’t stocks that have increased in value.
We could argue that they’re a bit thick with conceptual terminology, so they probably meant that companies increased their turnover maybe, profit, or something else, but even if it is a drop in the pound, here’s the thing. We can even use their own logic as a stick to beat them with. We don’t need the pound, we can walk into their house and slap them with their own wet fish.
The value of the pound relative to the US dollar, has dropped in value. The companies therefore have traded £200 billion more of trade, but the rest of the world have spent the same money as before. They just get more for it. Hence, the value of those UK companies on the world stage is exactly the same as before. Let’s make the math easy.
Previously, £100 quid worth $148. I buy a thing for 148 dollars I get £100 worth of stuff. The seller gets a fiver from the £100 so they get £5. They go home, and buy £4 worth of stuff per fiver they earn. This leaves £1.
Now, with Brexit, the company, earns more cash WOOHOO! but the US dollar is still only buying $148 worth of stuff, which is £118.40. Brilliant! Company earn moolah! Gives the worker a fiver… hang on… Just a £5. Which they take home. Great?
Well, noooo, imports are now more expensive. So the stuff they’re buying from the shop, which cost 4 quid before, now costs £4.73. Their “saving” is 17 pence, when it was a quid before!
So basically, they left the EU to buy 17 pence for £1. That’s what they did! No getting away from it. EVERYONE who works a job, instantly became poorer. The fact that the company worth has increased, when their friggin salary hasn’t increased, Mr and Mrs Dumbass, means they just made companies richer, not people. Did they get a raise of the same amount? F**k no! What’s even worse is the tariffs will wipe out all that cash, and then accelerate the killing of jobs. They’re IDIOTS! I didn’t even need to use any other argument. I used their own feckless numbers against them!