Brexit and the waning days of the United Kingdom

[garbon]

The horror?

[Zoupa]

That'll flop fast.

[jimmy olsen]

1. The British ruling class of the 1830's were profoundly religious in a way it is hard for contemporary Britons of the working and middle class to understand.

Is it easier for contemporary Britons of the upper class to understand, and if so why? Even if the average upper class person as had an extra class or two on it in university, that isn't enough for them to have an intuitive understanding of it like someone who has really delved into the history of the period.

[Valmy]

I don't like inverse snobbery either but I'm on Languish and I don't know any Leave voters. The chance of me encountering someone moaning about experts (despite their justifiably strained reputation) is fairly slim.

I don't understand. We had plenty of remain supporters on Languish.

[Valmy]

I just hate snobbishness and think populism is a symptom not a cause. It's easier and more comforting to blame stupid voters and hood-winking politicians.

Likewise I think it is easier and more comforting to blame snobs instead of facing the reality that time and technology have changed. The politicians are not hood-winking they are just unsure of what to do. Nobody really knows how to address the issues. If Populism provided answers South America would have been a paradise years ago.

[fromtia]

Is it easier for contemporary Britons of the upper class to understand, and if so why? Even if the average upper class person as had an extra class or two on it in university, that isn't enough for them to have an intuitive understanding of it like someone who has really delved into the history of the period.

It was community college, in effect. There were no representatives of the upper class present.

[Admiral Yi]

The unfairness being?

The benefits accruing to those who were profligate.  The more profligate, the greater the benefit.

The costs accruing to those who were prudent.

[Alcibiades]

Serious question, why do the British seem to hate the Poles?

[Zanza]

Based on the sample size of one Marty, Poles are assholes.

[The Minsky Moment]

The benefits accruing to those who were profligate.  The more profligate, the greater the benefit.

The costs accruing to those who were prudent.

I don't see it.  Who is profligate in this scenario, who is prudent, who is benefitting, who is suffering costs?

Looks to me that if there is benefit for profligacy in this scenario, it relates primarily to the former private bondholders, who knowingly loaned to a uncreditworthy borrower on the expectation of a bailout, and then received the bailout.

The ordinary Greek citizen OTOH got little benefit from all this activity and has suffered the most costs by a very large margin.

[garbon]

Serious question, why do the British seem to hate the Poles?

They are sort of like our Mexicans as a target. Many came in taking lower level jobs so I guess in theory in competition for labour against working class Brits.

Of course, in central London, it is pretty unusual to come across British born service employees.

[Valmy]

All those who don't sympathize with hating Poles and Mexicans are snobs 

[Ed Anger]

I just Brexited in the can.

[Admiral Yi]

I don't see it.  Who is profligate in this scenario, who is prudent, who is benefitting, who is suffering costs?

Looks to me that if there is benefit for profligacy in this scenario, it relates primarily to the former private bondholders, who knowingly loaned to a uncreditworthy borrower on the expectation of a bailout, and then received the bailout.

The ordinary Greek citizen OTOH got little benefit from all this activity and has suffered the most costs by a very large margin.

The profligate is any country that has reached an unsustainable debt level and needs to have their debt monetized.  Are the people on the government payroll, the tax cheats, the users of underpriced services like rail, not "ordinary citizens?"

The prudent is individuals who have amassed private savings.  They would pay the price of decreased real value of assets following inflation.

I agree that private lenders have gotten off scot free.  On the other hand Basel II means they were not totally profit maximizing free agents.

[mongers]

Since Sunday seven small commercial property funds have suspended withdrawals.

One a good bit larger, Aberdeen Asset Management, is still allowing investors to take out their money, but those individuals are having to accept a 'haircut' of 17% to do so.   

Details here:
http://citywire.co.uk/money/aberdeen-imposes-17-exit-penalty-on-property-fund/a931115