I think his problem is that the number of places has dropped and Scotland is no longer seeking to hit the New Labour target of sending 50% of people to University.
One of many ludicrous ideas from the 13 years of New Labour collective insanity.
In 83, 87 and 92 I spent a huge amount of time working Yardley, held by the Tories in the first two but finally lost - probably for all time - in 92 to Estelle Morris. It was then the second most working class Tory seat in the country (behind Gosport from memory) and a remarkable mosaic of different voting groups. It was until 92 a reliable bell-whether seat, going with the party of Govt.
I doubt OGH has ever contested such a tight marginal, all the more remarkable for being a 3-way - and actually held by three different parties in quick succession. Every vote won counted. And back then, Solihull was so safe, they sent many of their members as mutual aid to work Yardley.
I'm not betting on any single seats at the moment even though prices might shift. Things will look very different once the formal campaigns have opened on March 31st and the purples & yellows are getting guaranteed coverage.
Do you really think this will be any more than a simple statement from UKIP, Liberal and Green spokespeople at the end of each piece where the Labour and Conservative positions dominate?
The Ofcom guidelines are clear. "Up to the same coverage as Labour and the Conservatives", not the same, up to. The broadcaster still has considerable leeway as to how they implement this.
No. I've worked and operated the broadcasting rules during my time at the BBC. UKIP & the LDs will get 0.8 of the time of LAB & CON. The rest will be afterthoughts.
In Scotland and Wales SNP and PC have that status.
That's not how Ofcom set out their guidelines, they do not state an 80% rule. This is a different situation to anything previously where there were three parties and three parties only. There is no breach in the guidelines in limiting the Liberals and UKIP to far less than a 0.8 ratio and we're still waiting for confirmation on whether the Greens will also be entitled to the same status.
It is much harder for the broadcaster to give the same ratio to two or three parties as it does to one party. The reality will be plain once the offical period begins. I suspect you will be quite upset at the outcome.
Even if it is less than 80% this time, I cannot see the BBC not treating UKIP and the LDs equally or it is asking for trouble. This can only be of benefit to UKIP. It was noticeable how much more coverage they got for a while round the Euro elections.
Tory 10 minutes Labour 10 minutes LibDem 8 minutes = 28 Tory 10 minutes Labour 10 minutes LibDem 8 minutes UKIP 8 minute = 36 This is 28.5% increase in time. Do you see the problem the broadcasters have? If they have to add Greens it is even worse.
I agree LibDem and UKIP will be treated in a similar way, which will prompt LibDem complaints, if LibDems get more there will be UKIP complaints. Greens as a late arrival could be given reduced time.
The time allocation will have to be Tory 10 minutes Labour 10 minutes LibDem 6 minutes UKIP 6 minute = 32 (still + 15% in time from previous elections) or 10 10 4 4 to keep the 0.8 as a benchmark.
I think a potentially popular manifesto item for the Tories would to be make it illegal to discriminate against people within the UK on the basis of their nationality (Scot, English, Welsh, Ulsterman). This would destroy the indefensible anomaly whereby EU citizens and Scots can get free uni education in Scotland but the English can't.
I would welcome it. But all the issues around currency, central bank, lender of last resort, deficit funding, etc, etc at the time of Sindy are as valid now and in the future as they were then. The collapse of the Euro dream has also killed the realistic prospects for an independent Scotland to run anything other than a 'sound money' balanced budget policy.
That really depends how much you understand the political realities and the real world.
I don't believe Scotland would have continued on the Pound beyond the short term (which would of course leave England utterly bankrupt once it loses Scottish support and the currency goes into freefall).
But it was a very good short term measure to manage the transition and to remove one of the more irrational barriers to independence - stupid people who don't understand what a currency is (a representation of economic activity, fiscal prudence and trade strength) and wouldn't vote if they felt they would "lose" the pound.
The problem with the Loyalist arguments about currency and economics for an Independent Scotland is that they don't bear any relation to reality and seem entirely based on paternalistic bias and the continued idea that the UK somehow "matters" in the world. It doesn't.
Yes the LD's have been becalmed in the polls However You Gov has had two pools in February that show then on 9%.the last time this occurred was early October 2014.So a favorable puff of wind But to say that the wind has changed to a more positive direction will require pollsters consistently registering in double figures.
Tory 10 minutes Labour 10 minutes LibDem 8 minutes = 28 Tory 10 minutes Labour 10 minutes LibDem 8 minutes UKIP 8 minute = 36 This is 28.5% increase in time. Do you see the problem the broadcasters have? If they have to add Greens it is even worse.
I agree LibDem and UKIP will be treated in a similar way, which will prompt LibDem complaints, if LibDems get more there will be UKIP complaints. Greens as a late arrival could be given reduced time.
The time allocation will have to be Tory 10 minutes Labour 10 minutes LibDem 6 minutes UKIP 6 minute = 32 (still + 15% in time from previous elections) or 10 10 4 4 to keep the 0.8 as a benchmark.
This was exactly my point and is exactly what happened in Scotland with a Four Party system. While in National coverage the Liberals got something around the 80%, in Scotland the Liberals and Tories split that 80% between them.
I would welcome it. But all the issues around currency, central bank, lender of last resort, deficit funding, etc, etc at the time of Sindy are as valid now and in the future as they were then. The collapse of the Euro dream has also killed the realistic prospects for an independent Scotland to run anything other than a 'sound money' balanced budget policy.
I don't believe Scotland would have continued on the Pound beyond the short term (which would of course leave England utterly bankrupt once it loses Scottish support and the currency goes into freefall).
Strong contender for the most batshit crazy economic point made on PB in recent months...
Yes the LD's have been becalmed in the polls However You Gov has had two pools in February that show then on 9%.the last time this occurred was early October 2014.So a favorable puff of wind But to say that the wind has changed to a more positive direction will require pollsters consistently registering in double figures.
I think the Libdems will struggle on the national stage during the campaign being written off as 'Yesterday's Men'. Furthermore they cannot claim to be the outsiders or insurgents anymore as those mantels will be passed to UKIP and the Greens. The SNP will provide a further distraction and given the Libdems collapse in Scotland they will have nothing influential to say about the Scottish dynamic. In addition their positioning between the Tories and Labour runs the risk of them being overshadowed and boxed in by the two bigger parties.
Still that doesn't mean they will not repel all comers from many of their current seats.
I would welcome it. But all the issues around currency, central bank, lender of last resort, deficit funding, etc, etc at the time of Sindy are as valid now and in the future as they were then. The collapse of the Euro dream has also killed the realistic prospects for an independent Scotland to run anything other than a 'sound money' balanced budget policy.
I don't believe Scotland would have continued on the Pound beyond the short term (which would of course leave England utterly bankrupt once it loses Scottish support and the currency goes into freefall).
Strong contender for the most batshit crazy economic point made on PB in recent months...
I don't believe Scotland would have continued on the Pound beyond the short term (which would of course leave England utterly bankrupt once it loses Scottish support and the currency goes into freefall).
So, your view is that England would be "utterly bankrupt" if Scotland left?
Presumably this is some new meaning of the word "bankrupt" that I was previously unaware of.
I would welcome it. But all the issues around currency, central bank, lender of last resort, deficit funding, etc, etc at the time of Sindy are as valid now and in the future as they were then. The collapse of the Euro dream has also killed the realistic prospects for an independent Scotland to run anything other than a 'sound money' balanced budget policy.
I don't believe Scotland would have continued on the Pound beyond the short term (which would of course leave England utterly bankrupt once it loses Scottish support and the currency goes into freefall).
Strong contender for the most batshit crazy economic point made on PB in recent months...
No, no: I think Dair simply got the words "bankrupt" and "great" mixed up.
If mentioning Clegg in the VI question finds him ahead... why on earth isn't he on the Literature in Hallam ?
It looks like leaflets focusing on the local elections. Presumably they have a lot of other leaflets with Clegg on them. Reasonable enough to leave him off the local ones. I am.
I would welcome it. But all the issues around currency, central bank, lender of last resort, deficit funding, etc, etc at the time of Sindy are as valid now and in the future as they were then. The collapse of the Euro dream has also killed the realistic prospects for an independent Scotland to run anything other than a 'sound money' balanced budget policy.
I don't believe Scotland would have continued on the Pound beyond the short term (which would of course leave England utterly bankrupt once it loses Scottish support and the currency goes into freefall).
Strong contender for the most batshit crazy economic point made on PB in recent months...
No, no: I think Dair simply got the words "bankrupt" and "great" mixed up.
It reveals alot about the Nat mindset. They genuinely believe that Scotland supports England rather than the other way round. Or that an independent English pound would suffer whereas an independent Groat would appreciate.
I'm also looking forward to the Libdems linking their policies together into a coherent vision.
For example, how legalising cannabis and improving mental health facilities works well together as an end to end process for example. The Libdems want to create the psychotic patients in the first place and then treat them. Very tidy and efficient
I would welcome it. But all the issues around currency, central bank, lender of last resort, deficit funding, etc, etc at the time of Sindy are as valid now and in the future as they were then. The collapse of the Euro dream has also killed the realistic prospects for an independent Scotland to run anything other than a 'sound money' balanced budget policy.
I don't believe Scotland would have continued on the Pound beyond the short term (which would of course leave England utterly bankrupt once it loses Scottish support and the currency goes into freefall).
Strong contender for the most batshit crazy economic point made on PB in recent months...
No, no: I think Dair simply got the words "bankrupt" and "great" mixed up.
I would welcome it. But all the issues around currency, central bank, lender of last resort, deficit funding, etc, etc at the time of Sindy are as valid now and in the future as they were then. The collapse of the Euro dream has also killed the realistic prospects for an independent Scotland to run anything other than a 'sound money' balanced budget policy.
I don't believe Scotland would have continued on the Pound beyond the short term (which would of course leave England utterly bankrupt once it loses Scottish support and the currency goes into freefall).
Strong contender for the most batshit crazy economic point made on PB in recent months...
Sterling is in long term terminal decline. The rUK hasn't recorded a surplus on trade in decades, apart from a couple of years where Oil made it positive, it's pretty much been in massive deficit since WW2. Long term Trade deficit is the route to a dead currency.
As things stand, only Scottish Export strength has kept Sterling from entering the sort of freefall you expect in this situation, that's the core truth the Loyalists love to describe as "batshit crazy" because there is a fundamental denial at the heart of the UK mindset as to just how broken the UK economy is.
I would welcome it. But all the issues around currency, central bank, lender of last resort, deficit funding, etc, etc at the time of Sindy are as valid now and in the future as they were then. The collapse of the Euro dream has also killed the realistic prospects for an independent Scotland to run anything other than a 'sound money' balanced budget policy.
I don't believe Scotland would have continued on the Pound beyond the short term (which would of course leave England utterly bankrupt once it loses Scottish support and the currency goes into freefall).
Strong contender for the most batshit crazy economic point made on PB in recent months...
No, no: I think Dair simply got the words "bankrupt" and "great" mixed up.
Has Dair ever considered standing for President of Greece or Venezuela ? They go for the full commie denialonomics things there..
Deutsche Bank produces a trade weighted Sterling exchange rate. I.e., how has our exchange rate changed against our trading partners over time. At the beginning of 1995, this stood at 86. In the 20 year period since, it has seen lows of around 80, and highs of around 120. It is just above its long-term average at 103.
Taking "cable", the US dollar exchange rate, and looking at the last 30 years, we see that a pound buys 50% more dollars than 30 years ago.
If sterling is "in long term terminal decline", nobody told the financial markets.
I would welcome it. But all the issues around currency, central bank, lender of last resort, deficit funding, etc, etc at the time of Sindy are as valid now and in the future as they were then. The collapse of the Euro dream has also killed the realistic prospects for an independent Scotland to run anything other than a 'sound money' balanced budget policy.
I don't believe Scotland would have continued on the Pound beyond the short term (which would of course leave England utterly bankrupt once it loses Scottish support and the currency goes into freefall).
Strong contender for the most batshit crazy economic point made on PB in recent months...
Sterling is in long term terminal decline. The rUK hasn't recorded a surplus on trade in decades, apart from a couple of years where Oil made it positive, it's pretty much been in massive deficit since WW2. Long term Trade deficit is the route to a dead currency.
As things stand, only Scottish Export strength has kept Sterling from entering the sort of freefall you expect in this situation, that's the core truth the Loyalists love to describe as "batshit crazy" because there is a fundamental denial at the heart of the UK mindset as to just how broken the UK economy is.
For sure we need to fix the deficit. But with Scottish public spend per capita 20% higher than the UK average it is a certainty that the markets would see a Scottish exit as a relief of pressure on the deficit. The UK's single largest export is financial services - from London plus its satellites. Satellites that in the case of Edinburgh could not survive a moment without the Bank of England as lender of last resort.
Deutsche Bank produces a trade weighted Sterling exchange rate. I.e., how has our exchange rate changed against our trading partners over time. At the beginning of 1995, this stood at 86. In the 20 year period since, it has seen lows of around 80, and highs of around 120. It is just above its long-term average at 103.
Taking "cable", the US dollar exchange rate, and looking at the last 30 years, we see that a pound buys 50% more dollars than 30 years ago.
If sterling is "in long term terminal decline", nobody told the financial markets.
"The British economy will be larger than Germany’s by 2030, forecasters have claimed. In a significant boost to Chancellor George Osborne, analysis also suggests that the UK overtook France in 2014 to become the world’s fifth largest economy."
Dair - get out of Scotland and see the world more - it really isn't all about you.
I would welcome it. But all the issues around currency, central bank, lender of last resort, deficit funding, etc, etc at the time of Sindy are as valid now and in the future as they were then. The collapse of the Euro dream has also killed the realistic prospects for an independent Scotland to run anything other than a 'sound money' balanced budget policy.
I don't believe Scotland would have continued on the Pound beyond the short term (which would of course leave England utterly bankrupt once it loses Scottish support and the currency goes into freefall).
Strong contender for the most batshit crazy economic point made on PB in recent months...
Sterling is in long term terminal decline. The rUK hasn't recorded a surplus on trade in decades, apart from a couple of years where Oil made it positive, it's pretty much been in massive deficit since WW2. Long term Trade deficit is the route to a dead currency.
As things stand, only Scottish Export strength has kept Sterling from entering the sort of freefall you expect in this situation, that's the core truth the Loyalists love to describe as "batshit crazy" because there is a fundamental denial at the heart of the UK mindset as to just how broken the UK economy is.
For sure we need to fix the deficit. But with Scottish public spend per capita 20% higher than the UK average it is a certainty that the markets would see a Scottish exit as a relief of pressure on the deficit. The UK's single largest export is financial services - from London plus its satellites. Satellites that in the case of Edinburgh could not survive a moment without the Bank of England as lender of last resort.
The more idiotic part of Dair's post is he hasn't worked out that if Scotland's largest trading partner is headed down the tubes, then Scotland won't be too far behind it.
Countries don't replace 75% of their trade overnight.
"The British economy will be larger than Germany’s by 2030, forecasters have claimed. In a significant boost to Chancellor George Osborne, analysis also suggests that the UK overtook France in 2014 to become the world’s fifth largest economy."
Dair - get out of Scotland and see the world more - it really isn't all about you.
But if Scotland becomes independent that date may be pushed back to 2032.
I would welcome it. But all the issues around currency, central bank, lender of last resort, deficit funding, etc, etc at the time of Sindy are as valid now and in the future as they were then. The collapse of the Euro dream has also killed the realistic prospects for an independent Scotland to run anything other than a 'sound money' balanced budget policy.
I don't believe Scotland would have continued on the Pound beyond the short term (which would of course leave England utterly bankrupt once it loses Scottish support and the currency goes into freefall).
Strong contender for the most batshit crazy economic point made on PB in recent months...
No, no: I think Dair simply got the words "bankrupt" and "great" mixed up.
It reveals alot about the Nat mindset. They genuinely believe that Scotland supports England rather than the other way round. Or that an independent English pound would suffer whereas an independent Groat would appreciate.
It's got nothing to do with mindset and a lot to do with the reality for a country which has such a terrible economic position. England has insufficient food, electricity and within the next decade water provision for its population. It cannot create a Trade surplus and has not for decades. It's economy is reliant on Scotland.
Electricity, where Scotland is self sufficient and on most days has 100% provision from renewables pays to subsidise English energy requirements (for example Longannet has to pay £40m per annum to connect to the Grid, while power stations in England are paid £4m to interconnect.
This small subsidies are replicated all over the economy. They get much bigger when it comes to the National Expenditure budget. This allows the English economy (particularly the London economy) to burden the entire UK with spending such as HS1, Channel Tunnel, HS1, Olympics, London Sewers, Crossrail, etc, etc, by classifying them as national expenditure and not region/country specific.
To a great extent Scotland provides a screen behind which the Wizards of Oz in Westminster can pretend to the English population that everythings great, their economy is strong and their future is bright. But behind the screen, there's just a tired old man, pulling levers to create pretty illusions.
To a great extent Scotland provides a screen behind which the Wizards of Oz in Westminster can pretend to the English population that everythings great, their economy is strong and their future is bright.
The thing that got me most about the Telegraph statement was how despite having 'no regard for the opinions of rival media organisations' they felt the need to bang on about them plenty enough in it, when once would surely be enough to make the point.
For HYUFD if you are around. I know you are big on Christie's chances for the GOP nod. I strongly disagree, as you know. Here is what is happening to his prospects:
Deutsche Bank produces a trade weighted Sterling exchange rate. I.e., how has our exchange rate changed against our trading partners over time. At the beginning of 1995, this stood at 86. In the 20 year period since, it has seen lows of around 80, and highs of around 120. It is just above its long-term average at 103.
Taking "cable", the US dollar exchange rate, and looking at the last 30 years, we see that a pound buys 50% more dollars than 30 years ago.
If sterling is "in long term terminal decline", nobody told the financial markets.
I did say long term for a reason, there are plenty of peaks and troughs but long term it's going one way, down.
The thing that got me most about the Telegraph statement was how despite having 'no regard for the opinions of rival media organisations' they felt the need to bang on about them plenty enough in it, when once would surely be enough to make the point.
That and the fact they didn't address the primary issue for his resignation. Or at least, not satisfactorily enough for me.
I would welcome it. But all the issues around currency, central bank, lender of last resort, deficit funding, etc, etc at the time of Sindy are as valid now and in the future as they were then. The collapse of the Euro dream has also killed the realistic prospects for an independent Scotland to run anything other than a 'sound money' balanced budget policy.
I don't believe Scotland would have continued on the Pound beyond the short term (which would of course leave England utterly bankrupt once it loses Scottish support and the currency goes into freefall).
Strong contender for the most batshit crazy economic point made on PB in recent months...
Sterling is in long term terminal decline. The rUK hasn't recorded a surplus on trade in decades, apart from a couple of years where Oil made it positive, it's pretty much been in massive deficit since WW2. Long term Trade deficit is the route to a dead currency.
As things stand, only Scottish Export strength has kept Sterling from entering the sort of freefall you expect in this situation, that's the core truth the Loyalists love to describe as "batshit crazy" because there is a fundamental denial at the heart of the UK mindset as to just how broken the UK economy is.
For sure we need to fix the deficit. But with Scottish public spend per capita 20% higher than the UK average it is a certainty that the markets would see a Scottish exit as a relief of pressure on the deficit. The UK's single largest export is financial services - from London plus its satellites. Satellites that in the case of Edinburgh could not survive a moment without the Bank of England as lender of last resort.
You're confusing the Fiscal Deficit with the Trade Deficit, it is the latter which has the major impact on currency.
Deutsche Bank produces a trade weighted Sterling exchange rate. I.e., how has our exchange rate changed against our trading partners over time. At the beginning of 1995, this stood at 86. In the 20 year period since, it has seen lows of around 80, and highs of around 120. It is just above its long-term average at 103.
Taking "cable", the US dollar exchange rate, and looking at the last 30 years, we see that a pound buys 50% more dollars than 30 years ago.
If sterling is "in long term terminal decline", nobody told the financial markets.
"The British economy will be larger than Germany’s by 2030, forecasters have claimed. In a significant boost to Chancellor George Osborne, analysis also suggests that the UK overtook France in 2014 to become the world’s fifth largest economy."
Dair - get out of Scotland and see the world more - it really isn't all about you.
I remember these sort of claims 30 years ago. We should be richer than Germany by now. Never actually happened, in fact the gap grew in Germany's favour.
Deutsche Bank produces a trade weighted Sterling exchange rate. I.e., how has our exchange rate changed against our trading partners over time. At the beginning of 1995, this stood at 86. In the 20 year period since, it has seen lows of around 80, and highs of around 120. It is just above its long-term average at 103.
Taking "cable", the US dollar exchange rate, and looking at the last 30 years, we see that a pound buys 50% more dollars than 30 years ago.
If sterling is "in long term terminal decline", nobody told the financial markets.
"The British economy will be larger than Germany’s by 2030, forecasters have claimed. In a significant boost to Chancellor George Osborne, analysis also suggests that the UK overtook France in 2014 to become the world’s fifth largest economy."
Dair - get out of Scotland and see the world more - it really isn't all about you.
I remember these sort of claims 30 years ago. We should be richer than Germany by now. Never actually happened, in fact the gap grew in Germany's favour.
You don't believe we will over take France ? You don't believe Germany has an ageing population ? You probably didn't believe oil could drop below $113.
I would welcome it. But all the issues around currency, central bank, lender of last resort, deficit funding, etc, etc at the time of Sindy are as valid now and in the future as they were then. The collapse of the Euro dream has also killed the realistic prospects for an independent Scotland to run anything other than a 'sound money' balanced budget policy.
I don't believe Scotland would have continued on the Pound beyond the short term (which would of course leave England utterly bankrupt once it loses Scottish support and the currency goes into freefall).
Strong contender for the most batshit crazy economic point made on PB in recent months...
Sterling is in long term terminal decline. The rUK hasn't recorded a surplus on trade in decades, apart from a couple of years where Oil made it positive, it's pretty much been in massive deficit since WW2. Long term Trade deficit is the route to a dead currency.
As things stand, only Scottish Export strength has kept Sterling from entering the sort of freefall you expect in this situation, that's the core truth the Loyalists love to describe as "batshit crazy" because there is a fundamental denial at the heart of the UK mindset as to just how broken the UK economy is.
For sure we need to fix the deficit. But with Scottish public spend per capita 20% higher than the UK average it is a certainty that the markets would see a Scottish exit as a relief of pressure on the deficit. The UK's single largest export is financial services - from London plus its satellites. Satellites that in the case of Edinburgh could not survive a moment without the Bank of England as lender of last resort.
The more idiotic part of Dair's post is he hasn't worked out that if Scotland's largest trading partner is headed down the tubes, then Scotland won't be too far behind it.
Countries don't replace 75% of their trade overnight.
Why do you think that bankruptcy would put England down the tubes? They would surely get support much like their property bubble and finance sister economy Ireland did. It's not like England could just stop importing its basic necessities of life.
@Dair If Trident renewal goes ahead, and Scotland has FFA then what happens on the Clyde (Not a trolling question)
I would expect that both questions will have the same answer - are the SNP holding the keys to No 10. If they are then Trident will not be upgraded but the existing system continue to be based at Faslane (which is why Sturgeon makes it clear it is the Upgrade which is her red line).
What if neither Labour or the Tories will meet the SNP's red line? Do you force another GE?
If you're the SNP? I'm not sure you need to, you abstain, leaving a Labour/Liberal coalition to form while making it clear you will pull down the government if any budget harms Scotland or commissions Trident 2 and campaign in 2016 for a new Referendum given you can now demonstrate that a clear Scottish voice has no audience in Westminster.
Indeed. It leads to independence sooner or later. And the loss of the pound. And their banks and financial services industry. It kills spendyism in Scotland.
Whether your fanciful dreams of the fiscal death of Scotland is true or not, it is the goal of the SNP to achieve Independence and to gain maximum benefit for Scotland until that happens. The latter is already overwhelmingly supported by the population of Scotland the the former is in crossover territory.
So there is no problem with this outcome.
The trouble with the Scots is they can't drink, they can't fight and they can't play football.
The thing that got me most about the Telegraph statement was how despite having 'no regard for the opinions of rival media organisations' they felt the need to bang on about them plenty enough in it, when once would surely be enough to make the point.
To me, the whole affair makes those who complacently argue that our own media is a reliable if not impartial source of international news, as opposed to the awful foreign propaganda outlets like RT, look ridiculous. They are trying to argue that the paper's editorial line cannot be swayed by NATO, in the face of information suggesting it can in fact be swayed by P&O for a few quid. We should remember that every time they start banging the war drums.
I would welcome it. But all the issues around currency, central bank, lender of last resort, deficit funding, etc, etc at the time of Sindy are as valid now and in the future as they were then. The collapse of the Euro dream has also killed the realistic prospects for an independent Scotland to run anything other than a 'sound money' balanced budget policy.
I don't believe Scotland would have continued on the Pound beyond the short term (which would of course leave England utterly bankrupt once it loses Scottish support and the currency goes into freefall).
Strong contender for the most batshit crazy economic point made on PB in recent months...
Sterling is in long term terminal decline. The rUK hasn't recorded a surplus on trade in decades, apart from a couple of years where Oil made it positive, it's pretty much been in massive deficit since WW2. Long term Trade deficit is the route to a dead currency.
As things stand, only Scottish Export strength has kept Sterling from entering the sort of freefall you expect in this situation, that's the core truth the Loyalists love to describe as "batshit crazy" because there is a fundamental denial at the heart of the UK mindset as to just how broken the UK economy is.
For sure we need to fix the deficit. But with Scottish public spend per capita 20% higher than the UK average it is a certainty that the markets would see a Scottish exit as a relief of pressure on the deficit. The UK's single largest export is financial services - from London plus its satellites. Satellites that in the case of Edinburgh could not survive a moment without the Bank of England as lender of last resort.
You're confusing the Fiscal Deficit with the Trade Deficit, it is the latter which has the major impact on currency.
Presumably you run a multi billion dollar fund, given your extraordinary economic insights?
For HYUFD if you are around. I know you are big on Christie's chances for the GOP nod. I strongly disagree, as you know. Here is what is happening to his prospects:
I would welcome it. But all the issues around currency, central bank, lender of last resort, deficit funding, etc, etc at the time of Sindy are as valid now and in the future as they were then. The collapse of the Euro dream has also killed the realistic prospects for an independent Scotland to run anything other than a 'sound money' balanced budget policy.
I don't believe Scotland would have continued on the Pound beyond the short term (which would of course leave England utterly bankrupt once it loses Scottish support and the currency goes into freefall).
Strong contender for the most batshit crazy economic point made on PB in recent months...
Sterling is in long term terminal decline. The rUK hasn't recorded a surplus on trade in decades, apart from a couple of years where Oil made it positive, it's pretty much been in massive deficit since WW2. Long term Trade deficit is the route to a dead currency.
As things stand, only Scottish Export strength has kept Sterling from entering the sort of freefall you expect in this situation, that's the core truth the Loyalists love to describe as "batshit crazy" because there is a fundamental denial at the heart of the UK mindset as to just how broken the UK economy is.
For sure we need to fix the deficit. But with Scottish public spend per capita 20% higher than the UK average it is a certainty that the markets would see a Scottish exit as a relief of pressure on the deficit. The UK's single largest export is financial services - from London plus its satellites. Satellites that in the case of Edinburgh could not survive a moment without the Bank of England as lender of last resort.
You're confusing the Fiscal Deficit with the Trade Deficit, it is the latter which has the major impact on currency.
Presumably you run a multi billion dollar fund, given your extraordinary economic insights?
I presume he's right, given that that isn't really a counter argument?
Delivering his most vitriolic attack yet on Ed Miliband for refusing to rule out a deal with the Nationalists if there is a hung parliament, he said Labour was “spineless, weak, unprincipled, short-termism.”
I would welcome it. But all the issues around currency, central bank, lender of last resort, deficit funding, etc, etc at the time of Sindy are as valid now and in the future as they were then. The collapse of the Euro dream has also killed the realistic prospects for an independent Scotland to run anything other than a 'sound money' balanced budget policy.
I don't believe Scotland would have continued on the Pound beyond the short term (which would of course leave England utterly bankrupt once it loses Scottish support and the currency goes into freefall).
Strong contender for the most batshit crazy economic point made on PB in recent months...
Sterling is in long term terminal decline. The rUK hasn't recorded a surplus on trade in decades, apart from a couple of years where Oil made it positive, it's pretty much been in massive deficit since WW2. Long term Trade deficit is the route to a dead currency.
As things stand, only Scottish Export strength has kept Sterling from entering the sort of freefall you expect in this situation, that's the core truth the Loyalists love to describe as "batshit crazy" because there is a fundamental denial at the heart of the UK mindset as to just how broken the UK economy is.
For sure we need to fix the deficit. But with Scottish public spend per capita 20% higher than the UK average it is a certainty that the markets would see a Scottish exit as a relief of pressure on the deficit. The UK's single largest export is financial services - from London plus its satellites. Satellites that in the case of Edinburgh could not survive a moment without the Bank of England as lender of last resort.
You're confusing the Fiscal Deficit with the Trade Deficit, it is the latter which has the major impact on currency.
No it isn't. It is our overall balance of payments that has the impact - of which the trade balance is only one part.
Deutsche Bank produces a trade weighted Sterling exchange rate. I.e., how has our exchange rate changed against our trading partners over time. At the beginning of 1995, this stood at 86. In the 20 year period since, it has seen lows of around 80, and highs of around 120. It is just above its long-term average at 103.
Taking "cable", the US dollar exchange rate, and looking at the last 30 years, we see that a pound buys 50% more dollars than 30 years ago.
If sterling is "in long term terminal decline", nobody told the financial markets.
"The British economy will be larger than Germany’s by 2030, forecasters have claimed. In a significant boost to Chancellor George Osborne, analysis also suggests that the UK overtook France in 2014 to become the world’s fifth largest economy."
Dair - get out of Scotland and see the world more - it really isn't all about you.
I remember these sort of claims 30 years ago. We should be richer than Germany by now. Never actually happened, in fact the gap grew in Germany's favour.
You don't believe we will over take France ? You don't believe Germany has an ageing population ? You probably didn't believe oil could drop below $113.
There's a good chance crossover with France will stick this time, they have a horrible socialist economy not suited for the modern world. Of course I've thought that for decades and crossover never really sticks.
But in terms of Germany, no, there is no prospect of the UK closing a gap which has always moved in the other direction.
"The Telegraph reported disclosed this week how Tory canvassers are reporting that some of the party’s traditional supporters are considering voting Labour in some seats to stop the SNP."
I give this report rather more credibility than Labour's unpublished canvass returns disclosed in the Independent. We need to work out which seats.
I wonder if the release of some of this Lib Dems polling is also with a view to getting some tactical voters on board. A chance to show Labour and Tory voters that they'd let the other one in if they don't vote Lib Dem. If UKIP have the money I'm surprised they don't do the same.
"The Telegraph reported disclosed this week how Tory canvassers are reporting that some of the party’s traditional supporters are considering voting Labour in some seats to stop the SNP."
I give this report rather more credibility than Labour's unpublished canvass returns disclosed in the Independent. We need to work out which seats.
I still think Labour holding some (maybe all) of the Edinburgh seats are worth a punt... high NO vote, chunky Tory and LD votes to squeeze, and a general UK-wide trend of big cities ecoming more Labour-inclined over the past few years (though admittedly it's a bit perilous applying any UK-wide trends to Scotland).
"The Telegraph reported disclosed this week how Tory canvassers are reporting that some of the party’s traditional supporters are considering voting Labour in some seats to stop the SNP."
I give this report rather more credibility than Labour's unpublished canvass returns disclosed in the Independent. We need to work out which seats.
As a wild, wild card on US GOP candidate I've stuck a few quid on Carly Fiorina. You can get on Betfair exchange at around 150/1. I think these odds could tumble if she starts a run. Former HP executive.
"The Telegraph reported disclosed this week how Tory canvassers are reporting that some of the party’s traditional supporters are considering voting Labour in some seats to stop the SNP."
I give this report rather more credibility than Labour's unpublished canvass returns disclosed in the Independent. We need to work out which seats.
I still think Labour holding some (maybe all) of the Edinburgh seats are worth a punt... high NO vote, chunky Tory and LD votes to squeeze, and a general UK-wide trend of big cities ecoming more Labour-inclined over the past few years (though admittedly it's a bit perilous applying any UK-wide trends to Scotland).
Can't see it in Edinburgh East with the 49% Yes vote and low Conservative starter score there.
Delivering his most vitriolic attack yet on Ed Miliband for refusing to rule out a deal with the Nationalists if there is a hung parliament, he said Labour was “spineless, weak, unprincipled, short-termism.”
I would welcome it. But all the issues around currency, central bank, lender of last resort, deficit funding, etc, etc at the time of Sindy are as valid now and in the future as they were then. The collapse of the Euro dream has also killed the realistic prospects for an independent Scotland to run anything other than a 'sound money' balanced budget policy.
I don't believe Scotland would have continued on the Pound beyond the short term (which would of course leave England utterly bankrupt once it loses Scottish support and the currency goes into freefall).
Strong contender for the most batshit crazy economic point made on PB in recent months...
Sterling is in long term terminal decline. The rUK hasn't recorded a surplus on trade in decades, apart from a couple of years where Oil made it positive, it's pretty much been in massive deficit since WW2. Long term Trade deficit is the route to a dead currency.
As things stand, only Scottish Export strength has kept Sterling from entering the sort of freefall you expect in this situation, that's the core truth the Loyalists love to describe as "batshit crazy" because there is a fundamental denial at the heart of the UK mindset as to just how broken the UK economy is.
For sure we need to fix the deficit. But with Scottish public spend per capita 20% higher than the UK average it is a certainty that the markets would see a Scottish exit as a relief of pressure on the deficit. The UK's single largest export is financial services - from London plus its satellites. Satellites that in the case of Edinburgh could not survive a moment without the Bank of England as lender of last resort.
You're confusing the Fiscal Deficit with the Trade Deficit, it is the latter which has the major impact on currency.
No it isn't. It is our overall balance of payments that has the impact - of which the trade balance is only one part.
Seems a bit pedantic but of course you're right and I should be more careful on terminology. However clearly Patrick wasn't mistaken over terminology, he was confusing the BoP with the Budget Deficit.
"The Telegraph reported disclosed this week how Tory canvassers are reporting that some of the party’s traditional supporters are considering voting Labour in some seats to stop the SNP."
I give this report rather more credibility than Labour's unpublished canvass returns disclosed in the Independent. We need to work out which seats.
I wonder if the release of some of this Lib Dems polling is also with a view to getting some tactical voters on board. A chance to show Labour and Tory voters that they'd let the other one in if they don't vote Lib Dem. If UKIP have the money I'm surprised they don't do the same.
I think they're just worried that potential voters/activists consider them no-hopers. The story from the national polls is LD collapse.
Can't believe it'll be Edinburgh West - voting tactically Labour where there is a Lib Dem... coalition partner... that has a slim (but slight) chance to save his seat would be a step too far for 99% of Scottish Conservatives I reckon.
The thing that got me most about the Telegraph statement was how despite having 'no regard for the opinions of rival media organisations' they felt the need to bang on about them plenty enough in it, when once would surely be enough to make the point.
To me, the whole affair makes those who complacently argue that our own media is a reliable if not impartial source of international news, as opposed to the awful foreign propaganda outlets like RT, look ridiculous. They are trying to argue that the paper's editorial line cannot be swayed by NATO, in the face of information suggesting it can in fact be swayed by P&O for a few quid. We should remember that every time they start banging the war drums.
It is worth bearing in mind and considering, although that does not eliminate the possibility they are better than those others of course.
Looking over my patent formula, Ayr Carrick & Cumnock, Edinburgh North & Leith, Edinburgh West and Dunbartonshire East all look like seats where Labour might win seats from tactical voting by the Conservatives in their favour. Intriguingly, the latter two are both currently Lib Dem held, which may make it difficult for the would-be tactical Tory to work out who to back.
Looking over my patent formula, Ayr Carrick & Cumnock, Edinburgh North & Leith, Edinburgh West and Dunbartonshire East all look like seats where Labour might win seats from tactical voting by the Conservatives in their favour. Intriguingly, the latter two are both currently Lib Dem held, which may make it difficult for the would-be tactical Tory to work out who to back.
Can't see it in Dunbartonshire East or Edinburgh West for the reason they aren't the incumbent. I mean we're struggling to work out who to back in each seat and we're punting on Scotland. The average voter has no chance, because it is clear as mud.... Which probably means these seats are SNP gains.
Ishmael FPT: "I've met a lot of blokes in the pub recently who voted labour last time round, but are just waking up to the fact that ed, is, actually, too crap to vote for. They tell me they are still saying "labour" to the pollsters, but increasingly realise that they just won't be voting that way. "
This must be the only pub in Britain where a lot of blokes routinely discuss how they respond to opinion polls. Perhaps PB should officially adopt it?
Comments
One of many ludicrous ideas from the 13 years of New Labour collective insanity.
I doubt OGH has ever contested such a tight marginal, all the more remarkable for being a 3-way - and actually held by three different parties in quick succession. Every vote won counted. And back then, Solihull was so safe, they sent many of their members as mutual aid to work Yardley.
Tory 10 minutes Labour 10 minutes LibDem 8 minutes UKIP 8 minute = 36 This is 28.5% increase in time. Do you see the problem the broadcasters have? If they have to add Greens it is even worse.
I agree LibDem and UKIP will be treated in a similar way, which will prompt LibDem complaints, if LibDems get more there will be UKIP complaints. Greens as a late arrival could be given reduced time.
The time allocation will have to be Tory 10 minutes Labour 10 minutes LibDem 6 minutes UKIP 6 minute = 32 (still + 15% in time from previous elections) or 10 10 4 4 to keep the 0.8 as a benchmark.
No. Clearly someone stood on their head to take the photo.
I don't believe Scotland would have continued on the Pound beyond the short term (which would of course leave England utterly bankrupt once it loses Scottish support and the currency goes into freefall).
But it was a very good short term measure to manage the transition and to remove one of the more irrational barriers to independence - stupid people who don't understand what a currency is (a representation of economic activity, fiscal prudence and trade strength) and wouldn't vote if they felt they would "lose" the pound.
The problem with the Loyalist arguments about currency and economics for an Independent Scotland is that they don't bear any relation to reality and seem entirely based on paternalistic bias and the continued idea that the UK somehow "matters" in the world. It doesn't.
That's my excuse
Still that doesn't mean they will not repel all comers from many of their current seats.
Presumably this is some new meaning of the word "bankrupt" that I was previously unaware of.
For example, how legalising cannabis and improving mental health facilities works well together as an end to end process for example. The Libdems want to create the psychotic patients in the first place and then treat them. Very tidy and efficient
As things stand, only Scottish Export strength has kept Sterling from entering the sort of freefall you expect in this situation, that's the core truth the Loyalists love to describe as "batshit crazy" because there is a fundamental denial at the heart of the UK mindset as to just how broken the UK economy is.
Deutsche Bank produces a trade weighted Sterling exchange rate. I.e., how has our exchange rate changed against our trading partners over time. At the beginning of 1995, this stood at 86. In the 20 year period since, it has seen lows of around 80, and highs of around 120. It is just above its long-term average at 103.
Taking "cable", the US dollar exchange rate, and looking at the last 30 years, we see that a pound buys 50% more dollars than 30 years ago.
If sterling is "in long term terminal decline", nobody told the financial markets.
http://www.telegraph.co.uk/finance/economics/10537773/Britain-will-become-biggest-economy-in-Europe.html
http://www.dailymail.co.uk/news/article-2887302/Booming-UK-overtake-German-economy-2030-ve-surged-past-socialist-France-global-league-table.html
"The British economy will be larger than Germany’s by 2030, forecasters have claimed.
In a significant boost to Chancellor George Osborne, analysis also suggests that the UK overtook France in 2014 to become the world’s fifth largest economy."
Dair - get out of Scotland and see the world more - it really isn't all about you.
The UK is a haven of stability when compared to many of the basket cases involved in all-out currency war right now...
Believe me, I live and earn in the Eurozone. Sterling is very very strong right now.
Countries don't replace 75% of their trade overnight.
http://www.thedailymash.co.uk/news/business/the-daily-telegraphs-promise-to-its-readers-sponsored-by-canesten-2015022095559
Electricity, where Scotland is self sufficient and on most days has 100% provision from renewables pays to subsidise English energy requirements (for example Longannet has to pay £40m per annum to connect to the Grid, while power stations in England are paid £4m to interconnect.
This small subsidies are replicated all over the economy. They get much bigger when it comes to the National Expenditure budget. This allows the English economy (particularly the London economy) to burden the entire UK with spending such as HS1, Channel Tunnel, HS1, Olympics, London Sewers, Crossrail, etc, etc, by classifying them as national expenditure and not region/country specific.
To a great extent Scotland provides a screen behind which the Wizards of Oz in Westminster can pretend to the English population that everythings great, their economy is strong and their future is bright. But behind the screen, there's just a tired old man, pulling levers to create pretty illusions.
File under "The EU needs Greece"
I assume Germany wanted the Euro so it could remain competitive ?
http://www.politico.com/story/2015/02/the-poltico-caucus-christie-slips-from-first-tier-115344.html?hp=t2_r
http://www.telegraph.co.uk/news/media/11425580/Guardian-changed-Iraq-article-to-avoid-offending-Apple.html
Interesting.
Who is asking the questions ?
This sort of weasel word passive voice gets my back straight up.
"The BBC understands" is another one.
Blue touch paper lit, retires immediately......
But in terms of Germany, no, there is no prospect of the UK closing a gap which has always moved in the other direction.
Errm...
http://www.telegraph.co.uk/news/politics/david-cameron/11425587/David-Cameron-attacks-spineless-Labour-over-SNP-deal.html
"The Telegraph reported disclosed this week how Tory canvassers are reporting that some of the party’s traditional supporters are considering voting Labour in some seats to stop the SNP."
I give this report rather more credibility than Labour's unpublished canvass returns disclosed in the Independent. We need to work out which seats.
Helpful Hint - don't drink the water. There's something wrong with it.
http://www.bloomberg.com/politics/articles/2015-02-18/carly-fiorina-times-presidential-announcement-with-start-of-book-tour
I may be wasting an opportunity to say nothing, but I do find it difficult to take seriously anything DC says. That applies to other politicians, but he's near the top of the list. It's not just a "I'm from Missouri, show me" reaction, but "I just don't believe you, 'though you're in a position to do damage" attitude.
I also think tactical voting could potentially save the Lib Dems in Aberdeenshire West and North East Fife.
'Isn't the term "Competitive" politicspeak meaning we've no chance whatsoever but we'll keep trying anyway.'
A lot of people would agree that QPR & Burnley are competitive when they play ,but they don't win many matches.
In any case without any of the polling data it's completely meaningless.
"I've met a lot of blokes in the pub recently who voted labour last time round, but are just waking up to the fact that ed, is, actually, too crap to vote for. They tell me they are still saying "labour" to the pollsters, but increasingly realise that they just won't be voting that way. "
This must be the only pub in Britain where a lot of blokes routinely discuss how they respond to opinion polls. Perhaps PB should officially adopt it?