mockingbird_franklin Posted June 24, 2016 Share Posted June 24, 2016 negative interest, you have savings in the bank, pretty hard to have them anywhere else and still have them readily available to use, and you lose some of them every year or month depending on when interest is paid? back to stuffing £20 notes under the mattress, until then totally withdraw paper money Link to comment Share on other sites More sharing options...
Dr_Pangloss Posted June 24, 2016 Share Posted June 24, 2016 1 minute ago, lapal_fan said: what is the result of negative interest. I remember hearing vaguely about it a few years ago, but it never came to fruition. I believe it was classed as "not good" though. It has already happened in countries like Switzerland. It's highly, highly unlikely to affect retail banking, i.e. your personal deposits. It's more likely to be a rate on the banks themselves. So this means they effectively have to pay to for their deposits rather than sit on them and accumulate some rate of return. The idea is to stimulate lending, as obviously lending to business etc is good for the economy. 1 Link to comment Share on other sites More sharing options...
LondonLax Posted June 24, 2016 Share Posted June 24, 2016 9 minutes ago, Ingram85 said: Say I decided "Right, I don't want to live in a xenophobic short sighted bigoted country anymore" and wanted to escape, is this even possible as my escape routes are now more difficult & more expensive to get to and I'll have **** all income/savings/equity to finance such an escape. Plus I work in the nhs. Im royally ****ed, trapped in a country I feel alienated from and can't do anything about it I suspect Scotland will shortly break away to stay in the EU. You may well be able to move to Scotland in order to stay in the EU before the immigration boarders go up. Link to comment Share on other sites More sharing options...
lapal_fan Posted June 24, 2016 Share Posted June 24, 2016 Just now, Dr_Pangloss said: It has already happened in countries like Switzerland. It's highly, highly unlikely to affect retail banking, i.e. your personal deposits. It's more likely to be a rate on the banks themselves. So this means they effectively have to pay to for their deposits rather than sit on them and accumulate some rate of return. The idea is to stimulate lending, as obviously lending to business etc is good for the economy. So great if you're thinking of starting up a company? Good that it doesn't affect the laymen, and I guess it's main motivation as you say, is to get that money moving around. Link to comment Share on other sites More sharing options...
Villanun Posted June 24, 2016 Share Posted June 24, 2016 21 minutes ago, Demitri_C said: Wll boris johnson has been abused by some cyclists as scum. so its already happening wait until shit really hits the fan That's no way to treat the next prime minister. Link to comment Share on other sites More sharing options...
tonyh29 Posted June 24, 2016 Share Posted June 24, 2016 1 hour ago, Dr_Pangloss said: Scotland should rightly leave the UK now didn't you just make a post about Economic illiterates Link to comment Share on other sites More sharing options...
Dr_Pangloss Posted June 24, 2016 Share Posted June 24, 2016 Just now, lapal_fan said: So great if you're thinking of starting up a company? Good that it doesn't affect the laymen, and I guess it's main motivation as you say, is to get that money moving around. Well retail banking and investment banking are intertwined these days so the banks could obviously pass some of the perceived costs onto consumers in the form of shitty interest rates and less product innovation but again, makes no sense to have negative rates on your deposits since everyone would just stick their money under the mattress and thus there will be bank runs left right and centre. In terms of starting a company well, you have to factor in any potential issues with the economy. You can try and force banks hands (e.g. through negative rates) but there will be a lot of risk that they will have to bear, lending to firms when the economy is expected to do poorly is very risky. You have to consider the likely drop in investment across the board, and then, with so much uncertainty, are people really going to be buying as much stuff as before? Then, if unemployment rises this will hit consumption even more and force the government to spend more money on unemployment entitlements. If investment and consumption fall, then so does GDP. Link to comment Share on other sites More sharing options...
tonyh29 Posted June 24, 2016 Share Posted June 24, 2016 24 minutes ago, BOF said: So, are we still allowed to be friends now ? yeah , you can be our cheap labour again , please forgive us for running off with those Poles , we won't do it again Link to comment Share on other sites More sharing options...
Demitri_C Posted June 24, 2016 Share Posted June 24, 2016 Did anyone see that idiot on TV earlier think it was on sky news when interviewed he was asked how did you vote he said I voted out, but i didn't really expect to go out now I am abit worried bloody imbecile reason enough to why the public should not have been giving the power Link to comment Share on other sites More sharing options...
tonyh29 Posted June 24, 2016 Share Posted June 24, 2016 20 minutes ago, lapal_fan said: I spat my water out at that. Almost poetic. Bravo good sir. and I bet you shed a tear for Jo Cox Link to comment Share on other sites More sharing options...
Dr_Pangloss Posted June 24, 2016 Share Posted June 24, 2016 2 minutes ago, tonyh29 said: didn't you just make a post about Economic illiterates They seem to value EU membership very highly so if that's how they feel then leaving the UK is what they should do. Link to comment Share on other sites More sharing options...
hogso Posted June 24, 2016 Share Posted June 24, 2016 Going to Eire, Germany and Greece in the next couple of months, and I have yet to exhange any sterling. ****. As an aside, will this have any sort of major repercusions for Gibraltar? Link to comment Share on other sites More sharing options...
wazzap24 Posted June 24, 2016 Share Posted June 24, 2016 41 minutes ago, av1 said: I thought those of us that voted out were meant to be the brain dead imbeciles. I'd add ignorant, xenophobic just before brain dead to give a more accurate description. 1 Link to comment Share on other sites More sharing options...
StefanAVFC Posted June 24, 2016 Share Posted June 24, 2016 ffs 1 Link to comment Share on other sites More sharing options...
lapal_fan Posted June 24, 2016 Share Posted June 24, 2016 3 minutes ago, tonyh29 said: and I bet you shed a tear for Jo Cox I laughed at the gory nature and creativity, not that it would actually ever happen. Actually, I can do a "tony h" now. "That's not what I said" 2 Link to comment Share on other sites More sharing options...
LondonLax Posted June 24, 2016 Share Posted June 24, 2016 36 minutes ago, pas5898 said: I'm getting a little sick of all the doom merchants. We actually do not know whats going to happen. This could be great, could be bad. Markets always crash over uncertainty - it's normal. It will recover. The pound has dropped, but its minutely lower than it was in February (the pound artificially increased at the thought of remain winning). Our trade will be fine. In simple terms, do you think Germany are not going to want to sell their nice care to the fifth biggest economy on earth? Do you think all countries in the EU will stop trading to the fifth biggest economy on earth. The biggest part of this whole ordeal is who, how and the terms of the new trade deals. That will literally govern everything. Before people jump on me, I actually voted remain. Edit: This almost guarantees another Scottish referendum. You're not the 5th biggest economy any more. France just overtook you after today's crash. Link to comment Share on other sites More sharing options...
lapal_fan Posted June 24, 2016 Share Posted June 24, 2016 6 minutes ago, Demitri_C said: Did anyone see that idiot on TV earlier think it was on sky news when interviewed he was asked how did you vote he said I voted out, but i didn't really expect to go out now I am abit worried bloody imbecile reason enough to why the public should not have been giving the power I've seen 5 people say that exact same thing on my FB this morning. Rage inducing - did they think this was a **** joke? Link to comment Share on other sites More sharing options...
Popular Post choffer Posted June 24, 2016 VT Supporter Popular Post Share Posted June 24, 2016 "Think how stupid the average person is, then realise half of them are stupider than that" George Carlin. 13 Link to comment Share on other sites More sharing options...
tonyh29 Posted June 24, 2016 Share Posted June 24, 2016 2 minutes ago, lapal_fan said: I laughed at the gory nature and creativity, not that it would actually ever happen. Actually, I can do a "tony h" now. "That's not what I said" you're not slippery enough to do a TonyH 2 Link to comment Share on other sites More sharing options...
Popular Post MakemineVanilla Posted June 24, 2016 Popular Post Share Posted June 24, 2016 It will be interesting to see how the UK map of areas which voted to leave compares with the map of areas of high unemployment. There seems to be a strong correlation at first sight but it needs to be done properly. Based on a first ipression it looks to be the case and if so the Sunderland result would be indicative. In the end the result might be more of a critique of the UK's inequality than the EU. The UK is the most unequal country in Europe apart from Portugal. It seems we have just found out we have become Disraeli's 'Two Nations' and neither side understands the other. 6 Link to comment Share on other sites More sharing options...
Recommended Posts