politicalbetting.com » Blog Archive » UKIP no longer odds-on betting favourite to secure most votes in May Euros. LAB now in top slot
One thing that I’ve missed in recent weeks has been the growing sentiment on the betting markets that Labour will win most votes and that the task facing UKIP is going to be harder than many predicted.
Those who hoped my speech will pave the way for fundamental #EU reform based on British wishes will be disappointed.”
You missed the sentence after that which was something like ''those who expect me to say Germany won;t pay any price to keep the UK in will also be disappointed.
Can someone rationally explain exactly what is in our interest as rUK to enter a formal currency union with an independent Scotland. So far all that I have read is that there would be no transaction tax between Scot/rUK trade. Surely there is more to it than that. I really do want to know since I have yet to form a view on Scottish independence...
"Not since before the First World War has any party other than Labour or Conservative won a Britain-wide election. Unless something dramatic happens, that record will fall this May. The UK Independence Party is set to top the poll in the elections to the European Parliament, leaving Labour second and the Tories trailing far behind in third place."
Without wishing to set set the scot nats on more interminable posting I would be interested in seeing some more polls which could give us a handle on the current state of play. Apologies for going off topic - and on the thread header I'd expect Labour to win but I'm not convinced that UKIP will meet their expectations.
"Looking at the historic prices from a range of bookies it seems that the Wythenshawe by election, where the purples were saying very bullish things, was the turning point. Their 18% vote was good but nowhere near the expectations that were being set at the start of the campaign"
That's incorrect. The turning point was the ICM poll that showed Labour on 35% and UKIP on 20%
I said at the time if the poll was anywhere near correct then Labour had to be a massive bet at 6/4, and UKIP couldn't be EVS favs (They weren't odds on at the time either, I don't think)
People who could see that backed Labour, hence they are now favs
I've always thought Labour would come top, if they're not in government.
The MORI poll from the last thread indicates a maximum potential Labour vote of 34% in the Euros, and a maximum potential UKIP vote of 28%. I think both parties will get a similar vote share, because UKIP supporters will be better-motivated.
"Net migration soars over 200,000 despite David Cameron's pledge
Official figures show a net flow of 212,000 migrants to Britain, up nearly 60,000 year-on-year, with a surge in arrivals from Romania and Bulgaria":< /I>
Your brilliant 13 point summary of the SNP's currency thinking is the best thing written on that subject. It should be read by every Scot, man, woman or child.
"The Scottish economy would face "significant, but not unsurpassable" challenges, if it were to separate from the rest of the UK, according to analysis by Standard and Poor's. The ratings agency said it would expect Scotland to "benefit from all the attributes of an investment-grade sovereign credit" due its "wealthy" economy, and that it saw "no fundamental reason" why Scotland could not float its own currency.
S&P also said a shrinking of Scotland's "unusually large" financial services sector could boost the country's sovereign credit rating by reducing the size of the economy's external balance sheet and reducing its liabilities. A number of Scotland-based financial services companies have voiced opposition to a Yes vote, with insurance giant Standard Life even saying it would move operations from its Edinburgh headquarters if Scots opt for independence in September. ..."
Can someone rationally explain exactly what is in our interest as rUK to enter a formal currency union with an independent Scotland. So far all that I have read is that there would be no transaction tax between Scot/rUK trade. Surely there is more to it than that. I really do want to know since I have yet to form a view on Scottish independence...
The advantage of a currency union from the UK's perspective would be (1) no transaction costs and (2) no exchange rate unpredictability. Of course, these do not apply to businesses that continue to charge in UK pounds.
Without wishing to set set the scot nats on more interminable posting
Have a look who posted first on it and who have been shrieking and posting on it obsessively for weeks. Sorry but if you don't like it then have a word with the out of touch PB tories on here since they want to talk about nothing else these days yet seem clueless they are as amusingly toxic to scottish public opinion as Cammie and Osborne.
They obviously want to ignore the reality that Merkel and Cammie just made a massive fool of gullible Eurosceptics, yet again.
Can someone rationally explain exactly what is in our interest as rUK to enter a formal currency union with an independent Scotland. So far all that I have read is that there would be no transaction tax between Scot/rUK trade. Surely there is more to it than that. I really do want to know since I have yet to form a view on Scottish independence...
I also don't have a strong opinion on the thing overall but rUK will have a lot of businesses doing a lot of trade with Scotland, in many cases already heavily integrated in their supply chains on the assumption that there's no currency risk. They'd obviously be better off using the same unit of exchange, rather than Scotland having its own currency (even with a peg, as pegs can break) or using the Euro.
At the same time they wouldn't want to write Salmond a blank cheque, and he may prefer to have his own currency rather than put up with the restrictions that London might feel it needed, but it has to at least be worthwhile for both sides to at least _try_ to cut a deal.
I fear UKIP will come top. The by-election was not a good guide to their position, though parts of the Labour attack on them there was effective, and will doubtless be used nationally.
I was a bit surprised that he made such a confident prediction that UKIP would top the poll.
It depends entirely on if Farage can get traction and public visibility like he did last May. Clegg agreeing to the publicity circus debate will presumable help as will panicking tory Eurosceptics and indeed this.
A good day for David Cameron- Tories in talks to defect to UKIP, immigration figures out of control + Merkel rejects EU reform
Their problem is that the polls just haven't been moving for them like they did before last May. If they can't start them moving up soon then they might be in real trouble.
"Not since before the First World War has any party other than Labour or Conservative won a Britain-wide election. Unless something dramatic happens, that record will fall this May. The UK Independence Party is set to top the poll in the elections to the European Parliament, leaving Labour second and the Tories trailing far behind in third place."
How come you are 4/6 & 11/10 Ukip over the Conservatives in a match bet when they are 11/8 & 5/1 to win the whole kaboodle?
A year ago it was 2/1 UKIP and 10s the Conservatives, and you had Conservatives favourite in the match.. 4/6 vs 11/10...this seems to defy any betting logic I have ever come across
It would be just about plausible if it were a spread bet
I see these new immigration figures are pretty disastrous for the government. Romanians and Bulgarians almost tripling. Large jumps from the Club Med economies, due to their depressed economies. Even the number of Poles coming is up almost 40%, showing the suggestion that Polish->UK migration slowing down is a myth. And as the UK economy continues to recover while the Eurozone remains depressed means this dynamic will continue more and more in the future. Meanwhile the government won't limit unskilled family migration from south Asia because of a combination of silly European Court rulings and Lib Dem limp-wristedness on the income requirements. So I guess the attempt to meet the immigration target will entirely come on high skilled people and paying university students.
Combined with the Home Office's complete lack of awareness of blatant fraud in the immigration industry, from the testing of candidates through to financial documentation, Theresa May has royally cocked up.
Can someone rationally explain exactly what is in our interest as rUK to enter a formal currency union with an independent Scotland. So far all that I have read is that there would be no transaction tax between Scot/rUK trade. Surely there is more to it than that. I really do want to know since I have yet to form a view on Scottish independence...
I also don't have a strong opinion on the thing overall but rUK will have a lot of businesses doing a lot of trade with Scotland, in many cases already heavily integrated in their supply chains on the assumption that there's no currency risk. They'd obviously be better off using the same unit of exchange, rather than Scotland having its own currency (even with a peg, as pegs can break) or using the Euro.
At the same time they wouldn't want to write Salmond a blank cheque, and he may prefer to have his own currency rather than put up with the restrictions that London might feel it needed, but it has to at least be worthwhile for both sides to at least _try_ to cut a deal.
If trade is the reason, as others have noted, we do twice or four times as much trade with Europe or America. A currency union with them is not in our interest. Nor is it with Scotland
F1: Red Bull appears to have an ERS problem. NB, unlike KERS, which added 0.3s per lap, or so, the ERS is critical. I forget the precise figures but it's circa tenfold as important. Losing it early on in a race means you'd need other cars to fail to have even a chance of points.
Mr. Max, there are few advantages. No transaction costs, but if big firms like Standard Life move south then the increase in tax revenue would more than offset such fees, *and* we wouldn't have to be lender of last resort to a foreign country.
Mr. Shadsy, probably not your area but will Ladbrokes be putting up some unusual markets for the Australian Grand Prix, given the testing situation?
I'm thinking of things like Engine/Power Unit markets (whether Renault, Mercedes or Ferrari score most, get a clean sweep of the podium etc), Marussia or Caterham to score points and that sort of thing.
A memorandum unearthed from the archives of the National Council for Civil Liberties show shows that Miss Hewitt told a committee of campaigners – including a man later convicted as a sex offender - that a legal department headed by Harriet Harman would look at cases of sex between adults and children aged 14 to 16.
Can someone rationally explain exactly what is in our interest as rUK to enter a formal currency union with an independent Scotland. So far all that I have read is that there would be no transaction tax between Scot/rUK trade. Surely there is more to it than that. I really do want to know since I have yet to form a view on Scottish independence...
I also don't have a strong opinion on the thing overall but rUK will have a lot of businesses doing a lot of trade with Scotland, in many cases already heavily integrated in their supply chains on the assumption that there's no currency risk. They'd obviously be better off using the same unit of exchange, rather than Scotland having its own currency (even with a peg, as pegs can break) or using the Euro.
At the same time they wouldn't want to write Salmond a blank cheque, and he may prefer to have his own currency rather than put up with the restrictions that London might feel it needed, but it has to at least be worthwhile for both sides to at least _try_ to cut a deal.
If trade is the reason, as others have noted, we do twice or four times as much trade with Europe or America. A currency union with them is not in our interest. Nor is it with Scotland
If combined with a free trade area I think there would be something to be said for a Euro-American currency union, especially if London had the right to set the monetary policy and budget envelope for the whole area, without being restricted itself. But in any case your comparison is obviously silly: The right way to look at this is per head, rather than at the aggregate total.
Mr. Pork, not sure Cameron ever called for Russia to invade Scotland.
Not sure the fop or Hague have much of a leg to stand on posturing on the Ukraine after begging Putin to intervene in scotland. It shows just how weak the fop is.
Can someone rationally explain exactly what is in our interest as rUK to enter a formal currency union with an independent Scotland. So far all that I have read is that there would be no transaction tax between Scot/rUK trade. Surely there is more to it than that. I really do want to know since I have yet to form a view on Scottish independence...
I also don't have a strong opinion on the thing overall but rUK will have a lot of businesses doing a lot of trade with Scotland, in many cases already heavily integrated in their supply chains on the assumption that there's no currency risk. They'd obviously be better off using the same unit of exchange, rather than Scotland having its own currency (even with a peg, as pegs can break) or using the Euro.
At the same time they wouldn't want to write Salmond a blank cheque, and he may prefer to have his own currency rather than put up with the restrictions that London might feel it needed, but it has to at least be worthwhile for both sides to at least _try_ to cut a deal.
The thing that I find amazing about all this is that it's basically the same argument people had for the UK joining the Eurozone. i.e. "You will save on transaction costs and that matters more than any risks associated with it." It was utterly untrue with the Eurozone and it is utterly untrue with an independent Scotland. The Scottish economy is likely to diverge from the English economy as the oil price goes up and down, with no fiscal stabilizers to make for it, and that will cause a lot of problems if the financial markets. Given that higher borrowing rates affect every company in the UK, while transaction costs affect only a tiny few that export to Scotland and bill in Scottish currency, it's not sensible to take that risk.
Mr. Pork, not sure Cameron ever called for Russia to invade Scotland.
Not sure the fop or Hague have much of a leg to stand on posturing on the Ukraine after begging Putin to intervene in scotland. It shows just how weak the fop is.
You don't even try to respond to people's arguments, do you?
Mick Pork: "The guy is a hypocrite because situation A is like situation B" Morris Dancer: "But situation A is not like situation B because of reason X" Mick Pork: "The guy is a hypocrite because situation A is like situation B"
It's also worth pointing out that the source for Cameron asking Putin to "intervene" in Scotland was a Kremlin-run Russian news organization, without any evidence.
Can someone rationally explain exactly what is in our interest as rUK to enter a formal currency union with an independent Scotland. So far all that I have read is that there would be no transaction tax between Scot/rUK trade. Surely there is more to it than that. I really do want to know since I have yet to form a view on Scottish independence...
I also don't have a strong opinion on the thing overall but rUK will have a lot of businesses doing a lot of trade with Scotland, in many cases already heavily integrated in their supply chains on the assumption that there's no currency risk. They'd obviously be better off using the same unit of exchange, rather than Scotland having its own currency (even with a peg, as pegs can break) or using the Euro.
At the same time they wouldn't want to write Salmond a blank cheque, and he may prefer to have his own currency rather than put up with the restrictions that London might feel it needed, but it has to at least be worthwhile for both sides to at least _try_ to cut a deal.
The thing that I find amazing about all this is that it's basically the same argument people had for the UK joining the Eurozone. i.e. "You will save on transaction costs and that matters more than any risks associated with it." It was utterly untrue with the Eurozone and it is utterly untrue with an independent Scotland. The Scottish economy is likely to diverge from the English economy as the oil price goes up and down, with no fiscal stabilizers to make for it, and that will cause a lot of problems if the financial markets. Given that higher borrowing rates affect every company in the UK, while transaction costs affect only a tiny few that export to Scotland and bill in Scottish currency, it's not sensible to take that risk.
It may still turn out to be correct for the Eurozone, but even if it isn't, the more integrated the economy the greater the downside of using a separate unit of exchange so it's entirely plausible that the balance would be negative for the Eurozone but positive for the UK. As far as divergence goes the big difference is London and surroundings vs the rest, so if you were going to split the currencies up that would be the place to do it.
It may still turn out to be correct for the Eurozone
It's the non-falsifiable economy! Twenty million unemployed five years after the issue, and unlikely to be fixed for another decade even in an optimistic scenario, no political reforms put in place that will prevent it from happening it again, and yet you still think the 1% or so transaction costs will mean it comes out on top. The best case you can have is "only one lost generation!"
but even if it isn't, the more integrated the economy the greater the downside of using a separate unit of exchange. As far as divergence goes the big difference is London and surroundings vs the rest, so if you were going to split the currencies up that would be the place to do it.
No, you wouldn't split it there, because the South East versus the rest would exist within the same fiscal transfer system and the political union means there isn't a prospect of the link being broken, meaning nothing for speculators to attack. And even if that wasn't the case, the thing that causes the sharpest divergences between regions is commodity movements for resource-based areas. Scotland's economy is highly dependent on oil, while the north of England isn't.
A currency union with them is not in our interest. Nor is it with Scotland
Quick, someone call SL immediately to tell them they've got it all wrong!
Don't spoil it now. They were all happy for a short time when they could shriek witlessly over a Daily Mail story but now that Cammie has made a fool of gullible Euroscptics they want to shriek about scotland again. They just aren't very bright when it comes down to it.
Careful OGH doesn't tweet about your clickbait and you sh*t yourself again posh lad.
Why do you think SeanT's posh? I've never met the bloke, and although he's lucked into a wonderful job going around the world, he doesn't strike me as *posh*. After all, he drives a Mini.
Although looking on Wikipedia, I'm shocked to discover that he was born in Devon. I'll never think of him in the same way again ...
Mr. Pork, shriek about Scotland? Physician, heal thyself.
Also, today has seen a significant Standard Life story. Not commenting on it, given the significant discussion on the independence referendum, would be rather odd.
F1: seems like Mercedes and Red Bull are done for the day. Latter team got in a decent 30 laps or so in one stint, but then suffered ERS failure. If that breaks in the first race they'll be lucky to score points.
Perhaps you might consider, albeit in the unlikely event, that should Scotland opt for independence offering a market on their currency come Jan 2018.
I'm especially interested in what odds there might be for these two possibilities :
1. Barter - No currency
or some currency union with a Scottish link :
2. Armenian Dram
Barter is much less efficient than is generally thought in primitive economies, because your staples aren't available at the same time. (Neeps and tatties ripen at different times).
The Dram idea is a good one. I have in the past suggested a well known brand of tonic wine. I know it is a product of South Devon but that's the point: a whisky-based currency would be too easy to forge, whereas no one is likely to crack the ageless secret recipe of the Benedictine brethren.
Mr. Pork, not sure Cameron ever called for Russia to invade Scotland.
Not sure the fop or Hague have much of a leg to stand on posturing on the Ukraine after begging Putin to intervene in scotland. It shows just how weak the fop is.
You don't even try to respond
You still waiting for an apology when someone pointed out you were drooling over Paedophile stories?
Haven't learned much have you?
I see nobody around here apologising to you so you might as well flounce off again because you're going to be in for a very long wait.
You realize that, for all the insults you throw about to everyone else, you are the least respected poster on here?
I make that a solid 10 on the socrates pomposity register as well as a highly amusing 10 for your complete lack of self awareness. I don't know how to break it to you chum but you aren't the entirety of PB. Not even if you stamp your little feet very hard indeed and petulantly DEMAND an apology while others laugh at the spectacle.
Don't dish it out if you can't take it back chum.
I can scarcely think of anyone who's 'respect' I would desire less than a muslim and paedophile obsessed ranter like yourself, unless it was from say Nick Griffin.
I care just as little for the opinions of the right-wingers on here who are programmed to spout out sub Daily Mail ramblings and rants.
Flounce off again and we'll see just how many people care because very few did before.
Careful OGH doesn't tweet about your clickbait and you sh*t yourself again posh lad.
Why do you think SeanT's posh? I've never met the bloke, and although he's lucked into a wonderful job going around the world, he doesn't strike me as *posh*. After all, he drives a Mini.
Although looking on Wikipedia, I'm shocked to discover that he was born in Devon. I'll never think of him in the same way again ...
Concerning. I thought he was Cornish, not from upcountry.
It may still turn out to be correct for the Eurozone
It's the non-falsifiable economy! Twenty million unemployed five years after the issue, and unlikely to be fixed for another decade even in an optimistic scenario, no political reforms put in place that will prevent it from happening it again, and yet you still think the 1% or so transaction costs will mean it comes out on top. The best case you can have is "only one lost generation!"
It's not just transaction costs, it's transaction costs and currency risk. The latter is probably the bigger barrier to trade.
The orthodox Reagan/Thatcher view used to be that devaluation wasn't really helpful, because it just meant you'd keep putting off solving your problems - for example by reforming the labour market so you don't keep voting yourselves unaffordable wage increases. We'll need a decade or so to see if they were right.
but even if it isn't, the more integrated the economy the greater the downside of using a separate unit of exchange. As far as divergence goes the big difference is London and surroundings vs the rest, so if you were going to split the currencies up that would be the place to do it.
No, you wouldn't split it there, because the South East versus the rest would exist within the same fiscal transfer system and the political union means there isn't a prospect of the link being broken, meaning nothing for speculators to attack. And even if that wasn't the case, the thing that causes the sharpest divergences between regions is commodity movements for resource-based areas. Scotland's economy is highly dependent on oil, while the north of England isn't.
Speculators attack a currency peg, not a common unit of exchange. In England's case the big mismatch is between London's financial industry, and the related tendency to form real estate bubbles, and everywhere else.
Perhaps you might consider, albeit in the unlikely event, that should Scotland opt for independence offering a market on their currency come Jan 2018.
I'm especially interested in what odds there might be for these two possibilities :
1. Barter - No currency
or some currency union with a Scottish link :
2. Armenian Dram
Barter is much less efficient than is generally thought in primitive economies, because your staples aren't available at the same time. (Neeps and tatties ripen at different times).
The Dram idea is a good one. I have in the past suggested a well known brand of tonic wine. I know it is a product of South Devon but that's the point: a whisky-based currency would be too easy to forge, whereas no one is likely to crack the ageless secret recipe of the Benedictine brethren.
Careful OGH doesn't tweet about your clickbait and you sh*t yourself again posh lad.
Why do you think SeanT's posh? I've never met the bloke, and although he's lucked into a wonderful job going around the world, he doesn't strike me as *posh*. After all, he drives a Mini.
Although looking on Wikipedia, I'm shocked to discover that he was born in Devon. I'll never think of him in the same way again ...
Careful OGH doesn't tweet about your clickbait and you sh*t yourself again posh lad.
Why do you think SeanT's posh? I've never met the bloke, and although he's lucked into a wonderful job going around the world, he doesn't strike me as *posh*. After all, he drives a Mini.
Although looking on Wikipedia, I'm shocked to discover that he was born in Devon. I'll never think of him in the same way again ...
I seem to remember the Sean had a hissy fit when someone previously accused him of being posh. wisely not rising to the bait this time (so far)
OT. Poor old Mike. No sooner does he post a new thread, but Merkel turns it all upside-down:
Merkel sobbing about past history. Weepy, weepy!
BUT PLAYING HARDBALL ON RE-NEGOTIATIONS. BUGGER OFF, CAMMO, SHE IS SAYING. Those poor old tory eurosceptics have had their balls squeezed by a big pair of female hands made in Germany. LOL
The UKIP spring conference has been handed a nice gift from Merky. Farage must have a big smile on his face.
It's not just transaction costs, it's transaction costs and currency risk. The latter is probably the bigger barrier to trade.
The orthodox Reagan/Thatcher view used to be that devaluation wasn't really helpful, because it just meant you'd keep putting off solving your problems - for example by reforming the labour market so you don't keep voting yourselves unaffordable wage increases. We'll need a decade or so to see if they were right.
Reaganomics had all sorts of silly views. While I'm not sure precisely what it had to say about devaluation, it's accurate that devaluation reduces the living standards within an economy. The problem is that no devaluation causes mass unemployment. As we are undeniably seeing right now.
Speculators attack a currency peg, not a common unit of exchange. In England's case the big mismatch is between London's financial industry, and the related tendency to form real estate bubbles, and everywhere else.
You really don't think speculators have been attacking southern European economic instruments in recent years, something which only came to a stop when the ECB stepped in to prop up the Greek economy? As for real estate bubble, can you name one that happened in London/the South East and not the rest of the economy?
Incidentally, I plan to write a post-testing article, and a pre-qualifying one. The latter may or may not have a qualifying tip. It's just over a fortnight until P1. Really rather looking forward to the first race.
Edited extra bit: incidentally (2), I'm thinking of writing a short story set in Scotland.
Careful OGH doesn't tweet about your clickbait and you sh*t yourself again posh lad.
After all, he drives a Mini.
Please get him started on his Alan Partridge style tales of hardship. It's absolutely priceless.
Actually, given Nicky Clarke's recent epochal intervention in the Indy debate, evidence is mounting up for Seant's socio-economic and cultural status. I suppose a hairdresser can be posh? http://tinyurl.com/ppt56a8
I was going to criticize your quote, but could not see it in the article itself...
I was going to link to the front page of the Economist where it was copied from, but decided it would be more useful for readers if I linked to the article itself.
I never make things up, in case that was what you were thinking of. I'm obsessed with accuracy — I thought that would have been obvious by now.
"... The problem is that no devaluation causes mass unemployment..."
Does it, Mr. Socrates? Does it always? I seem to recall that West Germany built a very successful economy based on a stable currency and mass unemployment wasn't part of that. Whereas, in the UK where we have been devaluing and debauching our currency for decades our economy has declined, our living standards have declined, our greatest export has become our wealth and we have had periods of savage unemployment.
Perhaps you might consider, albeit in the unlikely event, that should Scotland opt for independence offering a market on their currency come Jan 2018.
I'm especially interested in what odds there might be for these two possibilities :
1. Barter - No currency
or some currency union with a Scottish link :
2. Armenian Dram
Barter is much less efficient than is generally thought in primitive economies, because your staples aren't available at the same time. (Neeps and tatties ripen at different times).
The Dram idea is a good one. I have in the past suggested a well known brand of tonic wine. I know it is a product of South Devon but that's the point: a whisky-based currency would be too easy to forge, whereas no one is likely to crack the ageless secret recipe of the Benedictine brethren.
Hhmmm .... the ripening difficulty would need to overcome but 100 Neeps = 1 Tatty has merit but I think I'm coming down to a currency union with Armenia - 100 Drams = 1 Steamin
"... The problem is that no devaluation causes mass unemployment..."
Does it, Mr. Socrates? Does it always? I seem to recall that West Germany built a very successful economy based on a stable currency and mass unemployment wasn't part of that. Whereas, in the UK where we have been devaluing and debauching our currency for decades our economy has declined, our living standards have declined, our greatest export has become our wealth and we have had periods of savage unemployment.
Sorry, I lacked nuance in my description. I meant "in a situation of economic depression". Devaluation is like medicine. Not taking it when you need it will stop you getting better, but a healthy person shouldn't ever need it.
"Not since before the First World War has any party other than Labour or Conservative won a Britain-wide election. Unless something dramatic happens, that record will fall this May. The UK Independence Party is set to top the poll in the elections to the European Parliament, leaving Labour second and the Tories trailing far behind in third place."
How come you are 4/6 & 11/10 Ukip over the Conservatives in a match bet when they are 11/8 & 5/1 to win the whole kaboodle?
A year ago it was 2/1 UKIP and 10s the Conservatives, and you had Conservatives favourite in the match.. 4/6 vs 11/10...this seems to defy any betting logic I have ever come across
It would be just about plausible if it were a spread bet
I suppose if you thought the likely Tory vote range was a narrow 20-27% ish, but UKIPs' was a more unpredictable 15-32% ish, then the odds would make a bit more sense. So, the Tories maximum vote gives them a good chance of beating UKIP, but not much chance of beating Labour. Even though the midpoint of the two are quite similar, they would have quite different chances of winning overall.
It's not just transaction costs, it's transaction costs and currency risk. The latter is probably the bigger barrier to trade.
The orthodox Reagan/Thatcher view used to be that devaluation wasn't really helpful, because it just meant you'd keep putting off solving your problems - for example by reforming the labour market so you don't keep voting yourselves unaffordable wage increases. We'll need a decade or so to see if they were right.
Reaganomics had all sorts of silly views. While I'm not sure precisely what it had to say about devaluation, it's accurate that devaluation reduces the living standards within an economy. The problem is that no devaluation causes mass unemployment. As we are undeniably seeing right now.
It's not just the decline in living standards, it's also that since you're giving yourself the ability to stiff your creditors by devaluing the coinage, your creditors are going to want perpetually high interest rates to make up for the possibility that you'll stiff them in the future.
You really don't think speculators have been attacking southern European economic instruments in recent years, something which only came to a stop when the ECB stepped in to prop up the Greek economy?
You potentially get speculation against bonds (or more than speculation, people not wanting to buy them) if Scotland borrows too much, which is why London would presumably insist on binding restrictions on Scottish borrowing. As I say upthread, Salmond may decide he'd rather have his own currency than do this.
Incidentally, I plan to write a post-testing article, and a pre-qualifying one. The latter may or may not have a qualifying tip. It's just over a fortnight until P1. Really rather looking forward to the first race.
Edited extra bit: incidentally (2), I'm thinking of writing a short story set in Scotland.
Here's a Scottish short story for you, to be published on 19 Sep :
Careful OGH doesn't tweet about your clickbait and you sh*t yourself again posh lad.
Why do you think SeanT's posh? I've never met the bloke, and although he's lucked into a wonderful job going around the world, he doesn't strike me as *posh*. After all, he drives a Mini.
Although looking on Wikipedia, I'm shocked to discover that he was born in Devon. I'll never think of him in the same way again ...
I'm definitely not posh. Make a buck, but not posh. Two generations from the tin mines, father first of my family to go to Uni. Used to eat coal in the bath on Sundays, etc.
Yes, but Devon? I thought you were a true Cornishman, hewn out of granite from Carn Brae. Instead it turns out you're just an effete Devonshire man, all scones and jam.
Even when it's someone that spends about half their posts throwing abuse at other people.
Whine louder buttercup. You could sound even more petulant if you really put the effort in. If you are deranged enough to think the abuse on here is so one-sided on a right wing dominated site like PB then you really should stick to the Daily Mail from now on.
Barter is much less efficient than is generally thought in primitive economies, because your staples aren't available at the same time. (Neeps and tatties ripen at different times).
surely this is just the opportunity to invent futures markets. Did barter actually ever exist (at least since th evolution of human language)? wouldn't a de facto currency have emerged, even if it wasn't always the same one? considering polynesians could invent binary numbers for counting vegetables, back in the day..
Mr. Pork, man deriding someone for saying he hurls abuse at other people by hurling abuse at the someone in question makes as much sense as complaining about a George Tax before stating you're going for sterlingisation.
How many left wingers up in arms about the Harman story will pull @MickPork up for the "drooling" comment I wonder...
Mind you at least he has confirmed it was said, yesterday they were telling me I made it up!
Several times on this board, right wingers have turned around and criticized it when people on their own side have stepped over the line (e.g. SeanT), not to mention the moderator stepping in. But even with something as obviously nasty as accusing people of drooling over coverage of child abuse, nothing is said by other left wingers. Even when it's someone that spends about half their posts throwing abuse at other people.
Even this morning, theuniondivvie was teasing Richard Nabavi for not accepting a bet, but not saying a word when Stuart Dickson did the same.. .why the double standards I wonder?
F1: important and (sadly) true point on the BBC livefeed. After tomorrow, engine changes will only be permitted for safety and reliability reasons. F1 being F1, if Renault is really bad they will be permitted to make performance improvements on the basis that, with just three suppliers, the sport can't afford to lose one if they're performing abysmally.
Careful OGH doesn't tweet about your clickbait and you sh*t yourself again posh lad.
After all, he drives a Mini.
Please get him started on his Alan Partridge style tales of hardship. It's absolutely priceless.
Actually, given Nicky Clarke's recent epochal intervention in the Indy debate, evidence is mounting up for Seant's socio-economic and cultural status. I suppose a hairdresser can be posh? http://tinyurl.com/ppt56a8
Mr. Pork, man deriding someone for saying he hurls abuse at other people by hurling abuse at the someone in question makes as much sense as complaining about a George Tax before stating you're going for sterlingisation.
I'm not petulantly demanding anyone be banned from here Mr Dancer. I know someone who did though.
I was going to criticize your quote, but could not see it in the article itself...
I was going to link to the front page of the Economist where it was copied from, but decided it would be more useful for readers if I linked to the article itself.
I never make things up, in case that was what you were thinking of. I'm obsessed with accuracy — I thought that would have been obvious by now.
On topic, the big question is whether Labour supporters will turn out. I know there's some polling and anecdotal evidence suggesting they're fired up and ready to give the Tories a kicking, but we haven't seen much sign of that in actual elections.
F1: although a bit better for Renault teams the laps completed still suggest Mercedes top, then Ferrari, with Renault clearly last. All teams will want to try race simulations during this final test, if possible.
Even this morning, theuniondivvie was teasing Richard Nabavi for not accepting a bet, but not saying a word when Stuart Dickson did the same.. .why the double standards I wonder?
Do you not think you're burning desire for justice might be better employed as a special constable?
'He wasn't the brightest, but once he was on the trail of that knicker thief, he just wouldn't let go.'
How many left wingers up in arms about the Harman story will pull @MickPork up for the "drooling" comment I wonder...
Mind you at least he has confirmed it was said, yesterday they were telling me I made it up!
Several times on this board, right wingers have turned around and criticized it when people on their own side have stepped over the line (e.g. SeanT), not to mention the moderator stepping in. But even with something as obviously nasty as accusing people of drooling over coverage of child abuse, nothing is said by other left wingers. Even when it's someone that spends about half their posts throwing abuse at other people.
Even this morning, theuniondivvie was teasing Richard Nabavi for not accepting a bet, but not saying a word when Stuart Dickson did the same.. .why the double standards I wonder?
Just to help out those of us who don't see the world in such factional terms, could you perhaps share a list of your "left team" and "right team" (I assume that I'll be in the former)? I'll then make sure that I criticise the behaviour of both parties with equal frequency.
It's not just the decline in living standards, it's also that since you're giving yourself the ability to stiff your creditors by devaluing the coinage, your creditors are going to want perpetually high interest rates to make up for the possibility that you'll stiff them in the future.
Given that it's difficult to prove that even defaults have long term effects on yields to make up for the lost cash, I'm going to question how strong this effect really is. Investors judge the credibility of the current government and potential future ones, not previous ones. And even if it was true, the higher interest rates would stop future bubbles. Isn't that a good thing?
You potentially get speculation against bonds (or more than speculation, people not wanting to buy them) if Scotland borrows too much, which is why London would presumably insist on binding restrictions on Scottish borrowing. As I say upthread, Salmond may decide he'd rather have his own currency than do this.
Ireland and Spain both kept within their borrowing limits and still had huge problems. The issue isn't borrowing limits, it's that credit booms come out somewhere, in the private sector if the government is well-behaved, and that causes all sorts of problems.
It's all opinion about whether the current boom in London property is really a bubble or not, as bubbles can only be objectively identified after they burst. Do you have any examples historically?
I see you've deleted my posts, but left posts insulting me. Any chance of some consistency? I never understood why certain posters are allowed to constant insult and abuse others on here, but it is only when the attacked respond that they both get censored...
Careful OGH doesn't tweet about your clickbait and you sh*t yourself again posh lad.
Why do you think SeanT's posh? I've never met the bloke, and although he's lucked into a wonderful job going around the world, he doesn't strike me as *posh*. After all, he drives a Mini.
Although looking on Wikipedia, I'm shocked to discover that he was born in Devon. I'll never think of him in the same way again ...
I'm definitely not posh. Make a buck, but not posh. Two generations from the tin mines, father first of my family to go to Uni. Used to eat coal in the bath on Sundays, etc.
Yes, but Devon? I thought you were a true Cornishman, hewn out of granite from Carn Brae. Instead it turns out you're just an effete Devonshire man, all scones and jam.
I'm disappointed.
Fair point. I was born in Teignmouth, cause my (Cornish!) dad and (Cornish!) mum were living there, as my Dad was teaching at a local school.
The plan was - in all seriousness - to drive my mum to Cornwall when I was due, so I would be born on Cornish soil. Proper job.
But then, understandably, my Mum decided this was a load of nonsense, and I was born in the living room, in Teignmouth, Devon. I've no idea where, specifically (they moved again when I was eight weeks old - to Hereford). Perhaps one day a grateful nation will put up a plaque.
Ah, no wonder you went on a bit of a bender in your twenties: you were trapped between two worlds. It must've been made worse by going to Hereford. A granite-hewn, copper-souled kid with a cream-tea interior having to live amongst the SAS. It must have been horrific. No wonder it took you decades to find your true way.
How many left wingers up in arms about the Harman story will pull @MickPork up for the "drooling" comment I wonder...
Mind you at least he has confirmed it was said, yesterday they were telling me I made it up!
Several times on this board, right wingers have turned around and criticized it when people on their own side have stepped over the line (e.g. SeanT), not to mention the moderator stepping in. But even with something as obviously nasty as accusing people of drooling over coverage of child abuse, nothing is said by other left wingers. Even when it's someone that spends about half their posts throwing abuse at other people.
Even this morning, theuniondivvie was teasing Richard Nabavi for not accepting a bet, but not saying a word when Stuart Dickson did the same.. .why the double standards I wonder?
Just to help out those of us who don't see the world in such factional terms, could you perhaps share a list of your "left team" and "right team" (I assume that I'll be in the former)? I'll then make sure that I criticise the behaviour of both parties with equal frequency.
Polruan
The problem you present to classifiers is similar to that created by Southam Observer: you are both right footed players who have chosen wrongly to play on the left wing.
We need to draw up a new set of PB Classification rules which are based on intelligence and articulacy rather than class and social history.
It would avoid many misunderstandings and arguments.
It might even prevent Richard N getting locked into argument with Richard T: as clear an example one can get of how weapons of mass destruction can lead to mutually assured destruction.
F1: although a bit better for Renault teams the laps completed still suggest Mercedes top, then Ferrari, with Renault clearly last. All teams will want to try race simulations during this final test, if possible.
I'll say it officially: Red Bull are in deep trouble. Today, on the ninth of twelve days of testing, they came 7th on the timesheets with only 39 laps completed, compared to Williams' 128 laps, McLaren's 109 and Force India's 105.
They are going to be so far behind on their testing program that it'll be hard to recover, especially as they still appear to be cutting holes in the bodywork to cool them down.
You said earlier that the engines were soon to be frozen. I thought just the base engine was going to be frozen, with changes allowed to some parts of the engine and various ancillaries such as the ERS until mid-season. But I can't find where I read that, so the BBC tweet was probably right. Bah.
Comments
You missed the sentence after that which was something like ''those who expect me to say Germany won;t pay any price to keep the UK in will also be disappointed.
Which seems to me Merkel is saying
Will I back the UK's case? Yes and No.....
Can someone rationally explain exactly what is in our interest as rUK to enter a formal currency union with an independent Scotland. So far all that I have read is that there would be no transaction tax between Scot/rUK trade. Surely there is more to it than that. I really do want to know since I have yet to form a view on Scottish independence...
I was a bit surprised that he made such a confident prediction that UKIP would top the poll.
"Not since before the First World War has any party other than Labour or Conservative won a Britain-wide election. Unless something dramatic happens, that record will fall this May. The UK Independence Party is set to top the poll in the elections to the European Parliament, leaving Labour second and the Tories trailing far behind in third place."
That's incorrect. The turning point was the ICM poll that showed Labour on 35% and UKIP on 20%
I said at the time if the poll was anywhere near correct then Labour had to be a massive bet at 6/4, and UKIP couldn't be EVS favs (They weren't odds on at the time either, I don't think)
People who could see that backed Labour, hence they are now favs
Official figures show a net flow of 212,000 migrants to Britain, up nearly 60,000 year-on-year, with a surge in arrivals from Romania and Bulgaria":< /I>
http://www.telegraph.co.uk/news/uknews/immigration/10664667/Net-migration-soars-over-200000-despite-David-Camerons-pledge.html
The ratings agency said it would expect Scotland to "benefit from all the attributes of an investment-grade sovereign credit" due its "wealthy" economy, and that it saw "no fundamental reason" why Scotland could not float its own currency.
S&P also said a shrinking of Scotland's "unusually large" financial services sector could boost the country's sovereign credit rating by reducing the size of the economy's external balance sheet and reducing its liabilities. A number of Scotland-based financial services companies have voiced opposition to a Yes vote, with insurance giant Standard Life even saying it would move operations from its Edinburgh headquarters if Scots opt for independence in September. ..."
http://www.telegraph.co.uk/finance/economics/10665032/Scotland-could-go-it-alone-Standard-and-Poors.html
They obviously want to ignore the reality that Merkel and Cammie just made a massive fool of gullible Eurosceptics, yet again.
BundesAngie @BundesAngie 1m
Merkel Dampens UK Expectations On EU Reform: Those expecting Germany to pave the way for fundamental EU reform... http://binged.it/N6YgD2
Karl Frampton @Karl_Frampton 3m
Think Angela Merkel went down with the Tory Eurosceptics like a Lead Zeppelin!
Olaf Cramme @olafcramme 49m
Bang. #Merkel: “Those who hoped my speech will pave the way for fundamental #EU reform based on British wishes will be disappointed.”
J.S. Lindley-French @FrencLindley 1m
Merkel in London offers no straws for Cameron to cling onto. If anything Eurosceptics will have hardened their views. Forget renegotiation.
At the same time they wouldn't want to write Salmond a blank cheque, and he may prefer to have his own currency rather than put up with the restrictions that London might feel it needed, but it has to at least be worthwhile for both sides to at least _try_ to cut a deal.
Clegg agreeing to the publicity circus debate will presumable help as will panicking tory Eurosceptics and indeed this. The kippers seem happy today that's for sure.
Their problem is that the polls just haven't been moving for them like they did before last May. If they can't start them moving up soon then they might be in real trouble.
A year ago it was 2/1 UKIP and 10s the Conservatives, and you had Conservatives favourite in the match.. 4/6 vs 11/10...this seems to defy any betting logic I have ever come across
It would be just about plausible if it were a spread bet
Combined with the Home Office's complete lack of awareness of blatant fraud in the immigration industry, from the testing of candidates through to financial documentation, Theresa May has royally cocked up.
F1: Red Bull appears to have an ERS problem. NB, unlike KERS, which added 0.3s per lap, or so, the ERS is critical. I forget the precise figures but it's circa tenfold as important. Losing it early on in a race means you'd need other cars to fail to have even a chance of points.
Mr. Max, there are few advantages. No transaction costs, but if big firms like Standard Life move south then the increase in tax revenue would more than offset such fees, *and* we wouldn't have to be lender of last resort to a foreign country.
Mr. Shadsy, probably not your area but will Ladbrokes be putting up some unusual markets for the Australian Grand Prix, given the testing situation?
I'm thinking of things like Engine/Power Unit markets (whether Renault, Mercedes or Ferrari score most, get a clean sweep of the podium etc), Marussia or Caterham to score points and that sort of thing.
Hague warns Putin not to interfere in Ukraine while Cameron encourages Putin to intervene to prevent Scottish independence #indyref
Tom Delargy @derekrootboy Feb 21
Alistair Carmichael want to remind #bbcaq listeners David Cameron tried to enlist Putin to help him crush Scottish independence?
Fop chicken.
http://www.telegraph.co.uk/news/politics/10663580/Patricia-Hewitts-civil-rights-campaign-offered-legal-advice-to-adults-who-have-sex-with-14-year-olds.html
"Nothing to see here!" "It's all a smear!" Etc.
Not sure the fop or Hague have much of a leg to stand on posturing on the Ukraine after begging Putin to intervene in scotland. It shows just how weak the fop is.
Mick Pork: "The guy is a hypocrite because situation A is like situation B"
Morris Dancer: "But situation A is not like situation B because of reason X"
Mick Pork: "The guy is a hypocrite because situation A is like situation B"
David Cameron's migration pledge 'in tatters', as figures reveal net immigration of 200,000: Net annual immigr... http://bit.ly/1epeEcA
Perhaps you might consider, albeit in the unlikely event, that should Scotland opt for independence offering a market on their currency come Jan 2018.
I'm especially interested in what odds there might be for these two possibilities :
1. Barter - No currency
or some currency union with a Scottish link :
2. Armenian Dram
Although looking on Wikipedia, I'm shocked to discover that he was born in Devon. I'll never think of him in the same way again ...
Also, today has seen a significant Standard Life story. Not commenting on it, given the significant discussion on the independence referendum, would be rather odd.
F1: seems like Mercedes and Red Bull are done for the day. Latter team got in a decent 30 laps or so in one stint, but then suffered ERS failure. If that breaks in the first race they'll be lucky to score points.
The Dram idea is a good one. I have in the past suggested a well known brand of tonic wine. I know it is a product of South Devon but that's the point: a whisky-based currency would be too easy to forge, whereas no one is likely to crack the ageless secret recipe of the Benedictine brethren.
We must be due a flounce soon, surely....
I make that a solid 10 on the socrates pomposity register as well as a highly amusing 10 for your complete lack of self awareness. I don't know how to break it to you chum but you aren't the entirety of PB. Not even if you stamp your little feet very hard indeed and petulantly DEMAND an apology while others laugh at the spectacle.
Don't dish it out if you can't take it back chum.
I can scarcely think of anyone who's 'respect' I would desire less than a muslim and paedophile obsessed ranter like yourself, unless it was from say Nick Griffin.
I care just as little for the opinions of the right-wingers on here who are programmed to spout out sub Daily Mail ramblings and rants.
Flounce off again and we'll see just how many people care because very few did before.
Mind you, Devon's a rather lovely place.
So am I. I always had the impression SeanT was Cornish.
The orthodox Reagan/Thatcher view used to be that devaluation wasn't really helpful, because it just meant you'd keep putting off solving your problems - for example by reforming the labour market so you don't keep voting yourselves unaffordable wage increases. We'll need a decade or so to see if they were right. Speculators attack a currency peg, not a common unit of exchange. In England's case the big mismatch is between London's financial industry, and the related tendency to form real estate bubbles, and everywhere else.
Poor old Mike. No sooner does he post a new thread, but Merkel turns it all upside-down:
Merkel sobbing about past history. Weepy, weepy!
BUT PLAYING HARDBALL ON RE-NEGOTIATIONS. BUGGER OFF, CAMMO, SHE IS SAYING.
Those poor old tory eurosceptics have had their balls squeezed by a big pair of female hands made in Germany. LOL
The UKIP spring conference has been handed a nice gift from Merky. Farage must have a big smile on his face.
As east-west tensions grow over the Ukraine crisis reports say deposed President Viktor Yanukovych has been spotted in Moscow."
http://news.sky.com/story/1218041/ukraine-russia-puts-fighter-jets-on-alert
Net migration numbers show that one of the government’s boldest policies has been an embarrassing flop. This is excellent news
Britons loathe immigration in principle, but quite like immigrants in practice. For Bulgarians and Romanians, that is good news":
http://www.economist.com/blogs/blighty/2014/02/immigration
Edited extra bit: incidentally (2), I'm thinking of writing a short story set in Scotland.
LOL
Actually, given Nicky Clarke's recent epochal intervention in the Indy debate, evidence is mounting up for Seant's socio-economic and cultural status. I suppose a hairdresser can be posh?
http://tinyurl.com/ppt56a8
I never make things up, in case that was what you were thinking of. I'm obsessed with accuracy — I thought that would have been obvious by now.
http://www.economist.com/
Does it, Mr. Socrates? Does it always? I seem to recall that West Germany built a very successful economy based on a stable currency and mass unemployment wasn't part of that. Whereas, in the UK where we have been devaluing and debauching our currency for decades our economy has declined, our living standards have declined, our greatest export has become our wealth and we have had periods of savage unemployment.
Hhmmm .... the ripening difficulty would need to overcome but 100 Neeps = 1 Tatty has merit but I think I'm coming down to a currency union with Armenia - 100 Drams = 1 Steamin
http://www.cnbc.com/id/101383595
Victory for NO
I'm disappointed.
If you are deranged enough to think the abuse on here is so one-sided on a right wing dominated site like PB then you really should stick to the Daily Mail from now on.
surely this is just the opportunity to invent futures markets. Did barter actually ever exist (at least since th evolution of human language)? wouldn't a de facto currency have emerged, even if it wasn't always the same one? considering polynesians could invent binary numbers for counting vegetables, back in the day..
http://www.nature.com/news/polynesian-people-used-binary-numbers-600-years-ago-1.14380
Your conversation is now closed.
For all PBers
Mike has made it abundantly clear in the past to some posters in private that using sex related crimes to insult other posters is unacceptable.
So this warning is shared with you all.
Please stick to the spirit of this ruling.
Moderation is going to be light today.
If later on we find people unable to stick to the rules appropriate action will be taken.
sam baker @SamBaker 36 mins
So proud of our MPs... RT @CarolineKent: Hmm this is pretty awkward when you put it like that http://tinyurl.com/o8f9b8y
"Scots say decisive NO."
'He wasn't the brightest, but once he was on the trail of that knicker thief, he just wouldn't let go.'
UN denounces Vatican over child abuse and demands immediate action http://fb.me/3PVIcICcm
I'm not explaining this well.
Seems clear Cameron has massively over-spun this Merkel visit. Next 24 hours will be fun.
Yes, it will.
I see you've deleted my posts, but left posts insulting me. Any chance of some consistency? I never understood why certain posters are allowed to constant insult and abuse others on here, but it is only when the attacked respond that they both get censored...
Germany's Merkel to Cameron - I can't satisfy all Britain's EU wishes - Reuters UK - http://bit.ly/1dEhxCi pic.twitter.com/1CV51DYOIg
He's not going to embarrass himself again and start begging petulantly is he?
Oh dear.
Where's a Veto Flounce when you need one?
The problem you present to classifiers is similar to that created by Southam Observer: you are both right footed players who have chosen wrongly to play on the left wing.
We need to draw up a new set of PB Classification rules which are based on intelligence and articulacy rather than class and social history.
It would avoid many misunderstandings and arguments.
It might even prevent Richard N getting locked into argument with Richard T: as clear an example one can get of how weapons of mass destruction can lead to mutually assured destruction.
Some have been deleted others will be deleted later on today.
They are going to be so far behind on their testing program that it'll be hard to recover, especially as they still appear to be cutting holes in the bodywork to cool them down.
You said earlier that the engines were soon to be frozen. I thought just the base engine was going to be frozen, with changes allowed to some parts of the engine and various ancillaries such as the ERS until mid-season. But I can't find where I read that, so the BBC tweet was probably right. Bah.