Ok From The Horses Mouth, No G E, So Can We Stop Going On About It

[ToraToraTora]

https://www.bbc.co.uk/news/uk-politics-49125078

[Khandro]

If no-deal really does spell “economic meltdown”, why is it that, since Johnson stuffed his Cabinet with Brexiteers, sterling has gone up?

[mushroom25]

//Boris, has not got the Guts to go for a G/E. //

despite continually saying that he's ready at any time, neither has Mr Corbyn. he could have joined with Jo Swinson's motion of no confidence but he backed away. odd that.

[jim360]

At Khandro: Sterling hasn't gone up, it dropped below $1.24. Did briefly bounce on Wednesday but that didn't last. Same against the Euro.

[steg]

//If no-deal really does spell “economic meltdown”, why is it that, since Johnson stuffed his Cabinet with Brexiteers, sterling has gone up?//
aye?
On Friday it hit its lowest since 2017
https://www.ft.com/content/cca017ca-afbb-11e9-8030-530adfa879c2

[Khandro]

steg; "British pound hits lowest since 2017 as dollar rallies"
Nothing really to do with Brexit.
Against the Euro, it has either risen or remained strong.

[jim360]

"Remained strong" is rather misleading. Historically the Euro was worth 70p for a long time. It's now worth about 90p.

I mean, yes, currency markets are about more than just Brexit, but come on Khandro, you can't make a BS claim and not expect to be called out for its being utter BS.

[davebro]

Both major parties are running scared of a GE before the IN/OUT issue is settled in case the Brexit Party and the LibDems make big gains.
If we leave as Boris says we will the Brexit Party will be dished & he will have a window of opportunity to regain a Tory majority.
After that it will be a battle between the stay-outers and the rejoiners!

[teacake44]

Don't normally bother getting into politics, but in my view I don't believe either party could care a dam about brexit, they just have their sights on number 10, and that's been the case for years, ( apart from Maggie Thatcher) all Boris is doing is what they all do, dishing out a few sweeties in prep for an GE.

[Khandro]

//Historically the Euro was worth 70p for a long time. //
I don't think that would be within your living adult memory jim, there was also a moment of near parity.
The point is, Brexit is having no effect & the markets appear to be unfazed by the prospect of a no-deal scenario.

[Quizmonster]

TTT, As pointed out at 11.11 on Sat 27th, Johnson is a proven inveterate liar. Why, therefore, should we take your glowing testament of his guaranteed verity to heart?

[jim360]

Hmm. We can discuss the impact, or otherwise, of Brexit on the markets, another time, but a quick summary is that the idea that Brexit is having no effect is manifestly nonsense.

[dannyk13]

Boris must be doing something right , some polls are showing the Conservatives 10 points ahead of Labour.

[jim360]

He's been PM for three days, give him time to mess things up :P

[New Judge]

//Historically the Euro was worth 70p for a long time. //
I don't think that would be within your living adult memory jim, there was also a moment of near parity.

On 17th July 2015 the euro stood at 1.43 to the pound (so 70p bought you one euro). By 8th April 2016 it had increased in value to 1.23 to the pound. This represented a fall in the value of the pound of 14%. This lower rate was recorded before the referendum was held and before anybody had any inkling that a Leave vote might possibly prevail.

Yes, Brexit will obviously have some effect of the pound's value. But it isn't the only influence. Exchange rates vary; always have, always will. To attribute variations to just one factor is simplistic and (for some) conveniently naive.

[New Judge]

Actually the headline is misleading:

//Boris Johnson 'absolutely' rules out pre-Brexit election//

What he actually said was that he rules out a GE before the latest scheduled Brexit date of 31st October. This means that if, as I suspect, the Commons (again) legislates against a No Deal exit and they (again) also refuse to sanction the only Deal on offer, a GE may well be called before Brexit is achieved.

[THECORBYLOON]

Surely you believe him when he says the UK will leave the EU by Hallowe'en?????

[New Judge]

//Surely you believe him when he says the UK will leave the EU by Hallowe'en?????//

I rarely take any politician at his or her word. In Mr Johnson's case I believe that he would like to see us out by 31/10. However, for the reasons I have frequently stated I have no confidence whatsoever that he will.

[jim360]

// Yes, Brexit will obviously have some effect of the pound's value. But it isn't the only influence. [To say otherwise]... is conveniently naive //

Indeed, NJ. But lately it's also worth conceding that Brexit has been at least a major influence, rather than just lost in the noise. The pound shed another cent or so against the dollar today, and since just about the only thing that has happened is Michael Gove et al assuring us all that a "No Deal" Brexit is the working plan, I invite Khandro to revisit his claim that Brexit is no influence at all :)

[mushroom25]

//since just about the only thing that has happened is Michael Gove et al assuring us all that a "No Deal" Brexit is the working plan//

are you saying then that factors outside the UK don't count?

https://www.ft.com/content/e06d5568-adf6-11e9-8030-530adfa879c2

[Khandro]

jim; Your & NJ's, £ - € figures are correct, that time was something I'd overlooked.

ref. // I invite Khandro to revisit his claim that Brexit is no influence at all// I said, 'the markets appear to be unfazed by the prospect of a no-deal scenario' by this I mean, no great dramatic effects (as yet) the markets are never static.