EU membership referendum debate thread

woodburner · Post by **woodburner** » 06 Oct 2016, 19:12

Little John wrote:
woodburner wrote:Not quite. Who would do without an automatic washing machine?
Automation, including washing machines, only works so long as the broader economy can grow and diversify thus providing new jobs for workers displaced by automation. On a finite planet, where the limits of physical growth are now firmly in sight, automation no longer works. This is now where we are.

I am confident our automatic washing machine will work even if the economy contracts, and there is severe unemployment.

Little John · Post by **Little John** » 06 Oct 2016, 19:54

I am unsure as to what that means in the context of a response to what I was writing about

PS_RalphW · Post by **PS_RalphW** » 07 Oct 2016, 07:30

Sterling flash crashed on automatic trading just after midnight down to 1.13 to the dollar. Partial recovery since to 1.25.

PS_RalphW · Post by **PS_RalphW** » 07 Oct 2016, 11:40

Another spike down in Sterling.

Previous one blamed on automatic trading algorithms.

At what price does Sterling exchange rate become a political/economic crisis?

johnhemming2 · Post by **johnhemming2** » 07 Oct 2016, 11:55

Is this a question of going up too high or going down too low?

PS_RalphW · Post by **PS_RalphW** » 07 Oct 2016, 12:49

Facile question.

johnhemming2 · Post by **johnhemming2** » 07 Oct 2016, 14:07

Not really. It depends upon who you are. If the currency goes up high it causes export problems. If it goes down there are problems with the price of imports going up and people living abroad face difficulties. (if depending upon sterling income).

These things should be studied on a logarithmic scale, but I would think a reduction in Sterling helps the UK economy more generally. If we had indulged in what is called "original sin" (borrowing money other than in GBP) then there would be a problem, but there isn't.

Little John · Post by **Little John** » 07 Oct 2016, 15:08

johnhemming2 wrote:.... If we had indulged in what is called "original sin" (borrowing money other than in GBP) then there would be a problem, but there isn't.

That's a good point. Is that as equally true of borrowing by the banks as well as individuals?

Potemkin Villager · Post by **Potemkin Villager** » 07 Oct 2016, 16:46

johnhemming2 wrote:I would think a reduction in Sterling helps the UK economy more generally.

Sounds a bit tentative - anyway it all depends "what helping the UK economy" actually means. Certainly helps folk with cash hidden from the tax man abroad in dollars or euros......

Quite a few expat grumpy old Western Brits around here moaning about their sterling pensions already. Criminal types rubbing their hands in glee at the prospect of the opportunities presented by a land customs frontier........

As Kunstler puts it sarcastically "It's all good!".

johnhemming2 · Post by **johnhemming2** » 07 Oct 2016, 16:57

Potemkin Villager wrote:Quite a few expat grumpy old Western Brits around here moaning about their sterling pensions already.

They had the opportunity to vote against brexit.

woodburner · Post by **woodburner** » 07 Oct 2016, 19:40

johnhemming2 wrote:
Potemkin Villager wrote:Quite a few expat grumpy old Western Brits around here moaning about their sterling pensions already.
They had the opportunity to vote against brexit.

Old chestnuts usually go mouldy. Suggest you get some fresh ones.

johnhemming2 · Post by **johnhemming2** » 07 Oct 2016, 19:45

The vote was on 23rd June.

woodburner · Post by **woodburner** » 07 Oct 2016, 21:59

Then get over it.

Little John · Post by **Little John** » 07 Oct 2016, 22:45

As much as I take no greater pleasure than in disagreeing with John Hemming, I think his point is that it is others who should get over it. The vote was cast. The Leave side won and those Remainers continually whining about the result are the ones who need to get over it. Including all those who may have not bothered voting but who now bemoan the result.

Tough.

That's democracy.

johnhemming2 · Post by **johnhemming2** » 08 Oct 2016, 09:28

If you use that argument then you should not complain about the result of the election in 2015 or any of the policies implemented by the government.

I take the view that there is a freedom of speech which also applies for people who disagree with me. You (Little John) are quite uncomfortable with people who disagree with you voicing their disagreement.