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Victor’s £1m a light amid utter insanity

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You want some good news? Around £1m of Tottenham’s money for Victor Wanyama will find its way to Celtic, which will offset some of the economic impact of this morning’s news. This aside, there is only bad news. If we want to buy footballers priced in euros (or anything other than GPB) they will cost more money. We will also have to pay higher wages to be competitive with European clubs.

Goods will cost more – it will start today with fuel and travel, then food, electrical goods and everything else. Wages will buy less (not just less-able footballers). Borrowing repayments will be higher. Business expenditure, wages and employment will drop, so will the tax take – and money available for welfare spend.  The poor always pay the highest penalty.

If you are rich enough and without a mortgage you can indulge in flag waving all day, happy in a delusion that self-determination even remotely exists in modern economies. Or that more self-determination over here, and a little less over there, is a panacea. It’s not, it’s just another economic crisis coming your way soon.

The entire political class have failed us. Calling a flag waving referendum was a grubby attempt to hold onto power by the prime minister; this mess is his making. Whoever succeeds him will have to successfully pander to the same party membership in order to get elected.

Jeremy Corbyn’s mealie-mouthed campaigning was an embarrassment. His “7 out of 10” backing for remain did what it was supposed to do: convince people he was going through the motions for something he didn’t believe in.

Who’s ever heard of a leader winning support for an issue he is prepared to back 7 out of 10 himself? He should go, but political ego will ensure he’ll hang around to make sure Johnson wins the next general election.

It took six days for the Greek government to abandon their own disastrous EU referendum mandate. Instead of attempting a rescue, all our political ‘leaders’ will give us is more populist power grabs. It’s already underway.

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  1. The true effect on the pound and the markets will happen over the coming weeks, not today. Big foreign companies will reassure us but when push comes to shove they will follow the money. Most people who lose their jobs will be the workers. Ironically those who voted for Brexit.

  2. SOUTHSIDE on 24TH JUNE 2016 12:33 PM

     

    Bring back hanging!

     

     

    =========================================

     

     

    Let’s have a referendum on it.

  3. Paul,

     

     

    What a load of rubbish.

     

     

    As you know the pound is a floating currency and even a brief look at historic rates will show that in January 07 1 pound would get you 1.53 EURO and in December 08 1 pound would get you 1 EURO.

     

     

    Rightly or wrongly the pound will find its level, but you can be sure it will be within the historic rates noted above.

     

     

    Hail hail

  4. And Corbyn brings a different type of politics, so no surprise he gets it in the neck for being too honest.

     

     

    Hail hail

  5. The Labour Party is a busted flush – the Left and Right of the party should go their separate ways. Blaming Corbyn is wrong – he’s far more in touch with working class voters than the Blairite tossers, whose Tory and Tory-lite policies alienated their traditional supporters.

  6. if we’re going to smash stuff up in an outburst of impotent fury should we not just go the whole hog and have a general election?

     

     

    we’ll soon have a pm who wasn’t even part of the national political landscape in the last election, a load of mps who apparently don’t represent their constituents on the most important issue of the time, a majority party who are completely disunited

  7. CHAVEZ on 24TH JUNE 2016 12:43 PM

     

     

    He might be in touch with the voters but he’s no leader

  8. Living in the 6C I will soon no longer live in the EU. Thanks to my Irish citizenship I shall remain a citizen of Europe.

     

     

    If Scottish people want to remain EU citizens then you know what to do.

  9. Calm down, calm down

     

    I dont think it’ll actually happen

     

    1 – its an ADVISORY referendum I think it can be superceded

     

    2 – the euro’s are doing exactly what I wanted and thought they would do as they now believe it as opposed to the nonchalant nod they previously had – they are talking about change and listening to people

     

    3 – the whole wait 3 months for a new PM to deliver the article 50 is just a BS delay tactic to allow the euros to complete point 2 and come back with ah better offer

     

    4 they will then do what they did to the freestaters and keep asking the same question until they get the answer they wanted

     

    5 – this has been on the wall for a while – several winds were sown and the whirlwinds were reaped last night

  10. Canamalar it looks like OCD obsession on

    What an opportunity for the next president of the EU to create a change in EU capitalist enforcement policy, or could that be why Cameron is stepping down, got his eye on a bigger prize.

  11. Chavez

     

     

    Being in touch with the working class won’t win a general election. Corbyn is canon fodder for MSM. Both of the major political parties are too busy ripping each other apart.

  12. AN DUN on 24TH JUNE 2016 12:47 PM

     

    Yes of course it’s all Corbyn’s fault…

     

     

    no one is saying that. they’re all partly at fault for this mess we and ourselves in, just some more than others

  13. THETIMREAPER

     

     

    Are you saying the Parliamentary Labour party is in touch with its traditional values / ground support and the working classes?

  14. An English, poorly educated, white, underclass has paved the way for economic chaos. Them and racists, again predominantly English based. Where next Scotland? Independence is now almost inevitable. Project Fear worked on the Scots in 2014, it will not work again.

     

    I run a small business, 12% of our sales is to the EU, I fear the worst but hope for the best.

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