John McDowell and a run on the pound.

[ManOfSussex]

Just to finish the country off they will get Blair the warmonger back as an advisor

This is about a run on the pound - they should get back Major and Lamont as advisers with first hand experience of overseeing one.

 

[JC Footy Genius]

The fact that the plans are being undertaken by teams, one of which is headed by Richard Barbrook - http://news.sky.com/story/john-mcdonnell-labour-war-gaming-for-run-on-pound-if-elected-11054157

Why let the actual truth get in the way of a good spin for a blog.

No fibs in the story then.

 

[spongy]

I neex to back up a bit after a good half hour of reading. What does "run on the pound" mean?

 

[ManOfSussex]

No fibs in the story then.

No spin in the Sky News report, no.

 

[ManOfSussex]

Speaking of Sky News......................

 

[alfredmizen]

I neex to back up a bit after a good half hour of reading. What does "run on the pound" mean?

Sterling getting sold off , heavily.

 

[alfredmizen]

I happen to agree with you on the subject of firms avoiding corporation tax
You didn't say that though did you , you said "lots of rich foreign investors in the city" will bail out if they can't carry on screwing the country , so I will ask again , how exactly are lots of rich foreign investors in the city , screwing the country ?

[MENTION=11928]vegster[/MENTION] ?

 

[JC Footy Genius]

I can't see why there would be a run on the pound and flight of capital if the country elected a party promising to end austerity, immediately go into reverse, spend spend spend, increase borrowing by large amounts, plus the biggest tax hike since world war two .. mainly on business and the wealthy, plus nationalising anything that moves but not neccaserily paying the market value, revert back to the size of the state in the 1970's all while we are transitioning out of the EU ....

 

[FatSuperman]

As long as they nationalise McVities and put Jaffa cakes back to 12 in a box, then I'll vote for them.

 

[KZNSeagull]

The way the market works though, surely the run would come prior to the election if Labour are in with a sniff of victory? So it wouldn't be a run as such, more a steady jog.

 

[neilbard]

I neex to back up a bit after a good half hour of reading. What does "run on the pound" mean?

 

[maltaseagull]

What about the run on the pound we've had under the Tories in the last year

Not the Tories fault!
Blame the leavers.

 

[maltaseagull]

As long as they nationalise McVities and put Jaffa cakes back to 12 in a box, then I'll vote for them.

Sadly, that is the sort of decision far too many voters base their decisions on

Not saying you are one of them as you were clearly joking . Weren't you?

 

[alfredmizen]

I happen to agree with you on the subject of firms avoiding corporation tax
You didn't say that though did you , you said "lots of rich foreign investors in the city" will bail out if they can't carry on screwing the country , so I will ask again , how exactly are lots of rich foreign investors in the city , screwing the country ?

[MENTION=11928]vegster[/MENTION] are you going to answer ? Or am I correct in thinking your post was devoid of facts and based on prejudice with virtually zero real knowledge ?

 

[Two Professors]

The biggest threat to the pound is crashing out of the EU with no deal or a bad deal. And which party is likely to do that I wonder.? I imagine that Labour policy for the next election will be a second referendum and the whole world and its capital markets wiĺl breathe a huge sigh of relief that the silly people may be on their way out

Don't know which planet you are on,but on Earth there is a Labour conference on at the moment.If Labour policy was a second referendum,I'm sure they would have announced it.In fact,the Glorious Leader has let it be known that staying in the single market is a complete no-no.The rules make it impossible to re-nationalise the railways,you silly-billy.

 

[cunning fergus]

The biggest threat to the pound is crashing out of the EU with no deal or a bad deal. And which party is likely to do that I wonder.? I imagine that Labour policy for the next election will be a second referendum and the whole world and its capital markets wiĺl breathe a huge sigh of relief that the silly people may be on their way out

Not going to happen. JC supports Brexit and always has; the news at conference yesterday by McDonnell relating to the programme of re-nationalisation should be ringing huge alarm bells for dyed in the wool Labour remainers.

State funded industries will not comply with EU competition laws, and it’s exactly why the capitalists will piss their capital market pants when JC moves into to No 10.

I am amazed that anyone could think that a Corbyn run government would precipitate a “huge sigh of relief” from capital markets? He is not Tony Blair, and I think that is who you want.

Politically illiterate........I should coco.

 

[Leekbrookgull]

Not going to happen. JC supports Brexit and always has; the news at conference yesterday by McDonnell relating to the programme of re-nationalisation should be ringing huge alarm bells for dyed in the wool Labour remainers.

State funded industries will not comply with EU competition laws, and it’s exactly why the capitalists will piss their capital market pants when JC moves into to No 10.

I am amazed that anyone could think that a Corbyn run government would precipitate a “huge sigh of relief” from capital markets? He is not Tony Blair, and I think that is who you want.

Politically illiterate........I should coco.[/QUOTEtw
BTW you forgot EU REGULATIONS !

 

[Leekbrookgull]

that wont last.

 

[cunning fergus]

This is about a run on the pound - they should get back Major and Lamont as advisers with first hand experience of overseeing one.

You’re partly right but if you are going to blame a fellow travelling Tory you need to be pointing to Lawson, who agreed to join the ERM in 1990. He made the call to join despite Thatcher’s reservations but at this point she was weak, the Tory pro EU brigade was in the ascendancy.

When the UK joined the ERM the UK economy was being boosted by a thriving housing market which created a false impression relating to the strength of the economy (sound familiar?). The reality was that in joining the ERM at the rate Lawson did he fixed the £ at a rate to other European currencies that was unrealistic.

Two years later as the housing market slowed followed by the economy the £ was hopelessly overvalued, however as a member of the ERM the UK Govt had a responsibility to support the currency at the agreed rate, ergo interest rates had to go north, and some.

Speculators (famously Soros) weighed in given this construct and the only sensible option was to get the UK out of the ERM.

Whilst the pro EU Tory mob deserve ridicule for buying into this adventure, it is even more reprehensible that Blair, Brown, Balls eat al then rode the same bus a mere 10-15 years later, Brown even believing the UK had abolished boom and bust.

What’s the learning, beware of pro EU Tories, they are the enemy of the working class.

 

[cunning fergus]

Not going to happen. JC supports Brexit and always has; the news at conference yesterday by McDonnell relating to the programme of re-nationalisation should be ringing huge alarm bells for dyed in the wool Labour remainers.

State funded industries will not comply with EU competition laws, and it’s exactly why the capitalists will piss their capital market pants when JC moves into to No 10.

I am amazed that anyone could think that a Corbyn run government would precipitate a “huge sigh of relief” from capital markets? He is not Tony Blair, and I think that is who you want.

Politically illiterate........I should coco.[/QUOTEtw
BTW you forgot EU REGULATIONS !

Fair enough LBG, that will be the EU Regulations that go straight on the UK statute book without being passed by the UK Parliament.

When you have people in this country that support an institution that can bypass our Parliament to impose legislation, you can understand why they want to ignore the result of the referendum.

They are no friends of democracy.