The Consequences of Brexit [part 4]

[Guest]

SNP walking out of parliament yesterday

 

The SNP are a joke.

[altus 540]

Brexit warning from investment firm co-founded by Rees-Mogg

A City firm co-founded by the influential Conservative backbencher, Jacob Rees-Mogg, has set up an investment fund in Ireland and is warning prospective clients about the financial dangers of the sort of hard Brexit favoured by the Tory MP.

 

London-based Somerset Capital Management (SCM) described Brexit as a risk in a prospectus to a new fund it launched in March, which has been marketed to international investors who want to keep their money in the EU long-term.

 

The disclosure is embarrassing for Rees-Mogg, who works part time at Somerset Capital in addition to his work as an MP. The parliamentarian has repeatedly dismissed the concerns of those worried about the financial risks of Brexit and has argued the UK needs to quit the single market and customs union so the country is not a “rule taker” from Brussels.

So, Mogg is joining other brextremist MP John Redwood in advising clients to avoid investing in the UK because of brexit. Given how important investment into the UK will be, particularly in the event of a hard brexit, do the brexit supporters on here think these two are traitors for undermining the UK by encouraging people to invest elsewhere?

[Magilla 510]

Given that over 65% of Labour voters backed remain, how can you possibly say that she is going against the wishes of the very people who voted her in?

 

Of course, Penny forgets to mention:-

 

Rees-Mogg, Iain Duncan Smith, Nigel Dodds, David Davies, Crispin Blunt, Chris Grayling, Liam Fox, Maria Caulfield, John Redwood, Dominic Raab, Theresa Villiers, Peter Lilley, Kate Hoey & Gisela Stuart.

 

Arch leavers who's constituancies all voted to remain by a large margin.

 

How can this be!!!

 

---------- Post added 14-06-2018 at 11:27 ----------

 

So, Mogg is joining other brextremist MP John Redwood in advising clients to avoid investing in the UK because of brexit. Given how important investment into the UK will be, particularly in the event of a hard brexit, do the brexit supporters on here think these two are traitors for undermining the UK by encouraging people to invest elsewhere?

 

Aye, somewhat embarrassing for Mogg. I see he's desperately trying to spin it for his gullible followers.

[melthebell 863]

Trump to negotiate brexit?

 

LOL

[El Cid 220]

So, Mogg is joining other brextremist MP John Redwood in advising clients to avoid investing in the UK because of brexit.

 

Surely UK shares will be undervalued now, all the uncertainty must be pushing prices down, but give it 12 months + and shares should be booming.

[Top Cats Hat 10]

but give it 12 months + and shares should be booming.

 

Based on what, other than wishful thinking?

[altus 540]

Based on what, other than wishful thinking?

If the pound falls further there'll be a boost in the shares of companies that gain most of their revenues from overseas, as there was after the referendum vote. Of course, if those companies find it harder to export to their major markets after we leave the opposite will happen.

 

Of course, Redwood and Mogg are presumably aware of this. Perhaps they are just advising their clients to move money out of the UK now whilst they arrange a bit of disaster capitalism so their clients can swoop in when we hit rock bottom.

[Obelix 11]

Surely UK shares will be undervalued now, all the uncertainty must be pushing prices down, but give it 12 months + and shares should be booming.

 

A ten percent boom in shares is not a boom with a fifteen percent fall in currency...

[Top Cats Hat 10]

A ten percent boom in shares is not a boom with a fifteen percent fall in currency...

 

Just as a 1.5% pay rise is actually a pay cut for most people when inflation is 1.6%*

 

*figures used are purely for illustrative purposes.

[L00b 441]

The financial danger is also political in nature: if the current circumstances precipitate an early GE, then notwithstanding Corbyn’s current woes with his MPs, his chances of landing in no.10 are non-trivial and, given his program and the likelihood of McDowell landing in no.11, neither are the chances of early capital controls, in the context of the ticking Article 50 clock and its oncoming term.

 

Word to the wise and all that.

[Jeffrey Shaw 90]

the EU is our biggest trading partner, and very likely will be for many decades to come.

Er, no. Here's why:

1. "We" do not trade. Traders trade.

2. International trade is with persons in other countries. The EU is not (yet) a country.

3. Exports from UK persons to almost everywhere eastwards go via Rotterdam or other container ports. They are booked-in as UK exports to EU persons; but most are no such thing, as they're transferred out again to their real destination. The EU always does this, in a sad effort to maximise the trading volume. In English, this practice is known by a technical term: "lying".

[Top Cats Hat 10]

The SNP are a joke.

 

I'm always amazed by the high level of political discourse on this forum!