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In the 1970's there were more unions and union members in the
British workforce. Is TE expecting strikes throughout Britain?
Also back in the 70's, not everyone was issued a credit card upon
high school graduation.
People paid for many things with cash and checks.
The Great Credit Expansion had not occurred yet.
Somehow, it always goes back to The Kinks.
Woke up this morning, what did I see
A big black cloud hanging over me
I switched on the radio and nearly dropped dead
The news was so bad that I fell out of bed
There was a gas strike, oil strike, lorry strike, bread strike
Got to be a Superman to survive
Gas bills, rent bills, tax bills, phone bills
I'm such a wreck but I'm staying alive
"(Wish I Could Fly Like) Superman" - The Kinks (1979)
Possible the issue is older than 1970s and a comparison with the mega loser and incompetent of Mrs May with anyone and any PM(except possible Gordon Brown) must be a joke.
Brexit is just a repetition of the Repeal of the Corn Laws in 1846. The EU monstrosity of the superstate that substitutes the fantastic EEC is about poorer states are guaranteed income transfers (with Brussels taking a commission along the way and requesting full submission). The ECB distorts monetary policy to keep alive the most indebted governments. And the “influence of lesser states’ governments” has been weakened to the point of installing puppets in Italy and Greece. We already know that the eurozone will eventually face the choice between full fiscal union or enduring a series of state defaults.
That was also Britain’s choice in 2016. Would we continue to subscribe to a customs union which imposed tariffs of up to 30 per cent on agricultural products from Africa and prevented us from striking free-trade agreements with the developing (and developed) world? Or would we choose to break free and restore our status as the world’s beacon of free trade?
Regretable they chose the latter with an economy that is not liberal and an incompetent PM thta is opening the doors to socialism. In 1846, the Repeal of the Corn Laws opened up a new era of unparalleled prosperity for the UK based on the expansion of trade and liberalism. Hopefully, Brexit will do the same as they gain access to the developing world for their service industries in return for opening up our agricultural markets but for that, they need competent and intelligent leaders.
Well, the following are some of the EU's comments on its trade with other countries:
Fuels excluded, the EU imports more from developing countries than the USA, Canada, Japan and China put together.
More than 70% of imports enter the EU at zero or reduced tariffs.
The EU is the largest economy in the world with a GDP per head of €25 000 for its 500 million consumers.
The EU is the world's largest trading block.
The EU is the world’s largest trader of manufactured goods and services.
The EU ranks first in both inbound and outbound international investments.
The EU is the top trading partner for 80 countries. By comparison the US is the top trading partner for a little over 20 countries.
So the EU allows much more trade with developing countries than do most other trading blocs. It has made trade agreements with many countries, both developing and developed, and the UK benefits from them. You could argue it is the modern world's "beacon of free trade".
It may be true that free trade would make the whole world richer, but it would cause intense pain as countries tried to restructure their economies. That would, I think, be far worse than the pain caused to those EU countries that are being forced to re-structure their economies by the constraints of the euro.
There is no guarantee that free trade would make the UK richer. I doubt we could afford to become a "beacon of free trade". It was different when we were the richest country in the world - then free trade was very much to our advantage. We have free trade with the rest of the EU, but we also have a trade deficit: that should serve as a warning bell before we start agreeing free trade with other countries.
I don't think Greece and Italy are run by puppet governments. We should maybe consider who is running Northern Ireland at the moment before we criticise others: it is certainly not a politician elected by the people of that province.
Data and statistics without reasoning are useless.
a) The EU is as well the most protectionist trade block of all and of course is big and have a lot of free trade deals. Something in which the UK want to have it without paying 100 billion ransom money. Why dictatorships like Turkey, Marocco, OLP, Cambodia, etc can have FREE access and the UK is demanded to pay 100 billion????
b) Nice statistics but much of it is due to the UK that is the second largest country on the EU. The main one in foreign investment, the largest importer, etc... Try to re-do the statistics without the UK and it does not looks as good.
c) I do not know where you invented the 70% is free of tariff. Not true.
The EU has never ever been given the name of "beacon of free trade" at least outside the EU.
Yes Greece and Italy are run by puppet government. The Italian have had 6 governments without election and the last one elected (Berlusconi) was removed by EU demands and the party that lost that election is the one in power. Greece the EU force the puppet government to accept whatever they wanted and make it ignored 2 referendums, etc......
Northern Ireland IS NOT A COUNTRY...... but an autonomous region (like CATALUNIA)
It's unbelievable that Britain is bankrupt under liberalism, I mean if you can't see the dangers of appeasement of people, of debt escalation, of the growth in the size of the government, of underestimating the long term effects of inflation, of economic and financial bubbles, then your life is hopeless.
To answer your last statement, the stockmarkets would probably have a major turn 4 the worse.