| "Brexit recession warning from RBS boss" 08:03 - Oct 4 with 3316 views | Keno |
isn't that statement a tad ironic coming from the boss of the bank that basically triggered the financial crash and the recession that followed? |  |
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| "Brexit recession warning from RBS boss" on 08:05 - Oct 4 with 2074 views | BlueBadger |
Well, I suppose he ought to to know when one's coming... |  |
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| "Brexit recession warning from RBS boss" on 08:16 - Oct 4 with 2039 views | Darth_Koont |
| "Brexit recession warning from RBS boss" on 08:05 - Oct 4 by BlueBadger |
Well, I suppose he ought to to know when one's coming... |
Yes, and also quite important for them to be on the right side of this prediction.
Difficult to see why anyone wouldn't give a warning either. Our feckless politicians have made a no-deal Brexit dangerously likely. Even if they back away from that cliff edge at the last minute they've already gambled away the futures of thousands of companies and billions of pounds of business just by making companies prepare for that risk and disrupt their normal strategy and operations.
And if it does actually reach a no-deal Brexit then we may see whole industries and segments disappearing or at least crippled for a generation. |  |
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| "Brexit recession warning from RBS boss" on 08:21 - Oct 4 with 2032 views | Keno |
| "Brexit recession warning from RBS boss" on 08:16 - Oct 4 by Darth_Koont |
Yes, and also quite important for them to be on the right side of this prediction.
Difficult to see why anyone wouldn't give a warning either. Our feckless politicians have made a no-deal Brexit dangerously likely. Even if they back away from that cliff edge at the last minute they've already gambled away the futures of thousands of companies and billions of pounds of business just by making companies prepare for that risk and disrupt their normal strategy and operations.
And if it does actually reach a no-deal Brexit then we may see whole industries and segments disappearing or at least crippled for a generation. |
and yet some will call you out as being 'project fear' and that you should get 'behind your country'
The warning is stark and the threat is real | |
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| "Brexit recession warning from RBS boss" on 08:33 - Oct 4 with 2005 views | factual_blue |
| "Brexit recession warning from RBS boss" on 08:21 - Oct 4 by Keno |
and yet some will call you out as being 'project fear' and that you should get 'behind your country'
The warning is stark and the threat is real |
balls |  |
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| "Brexit recession warning from RBS boss" on 08:41 - Oct 4 with 1975 views | noggin |
| "Brexit recession warning from RBS boss" on 08:33 - Oct 4 by factual_blue |
balls |
Rule Britannia |  |
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| "Brexit recession warning from RBS boss" on 08:42 - Oct 4 with 1975 views | Keno |
to be honest you taking that stance is making me feel very uncomfortable | |
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| "Brexit recession warning from RBS boss" on 08:43 - Oct 4 with 1971 views | Pinewoodblue |
| "Brexit recession warning from RBS boss" on 08:33 - Oct 4 by factual_blue |
balls |
It takes two to negotiate many European business leaders, especially in Germany are urging the EU to broker a deal. |  |
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| (No subject) on 08:47 - Oct 4 with 1937 views | BanksterDebtSlave |
| "Brexit recession warning from RBS boss" on 08:42 - Oct 4 by Keno |
to be honest you taking that stance is making me feel very uncomfortable |
To be clear it's a parallel debate not an argument for a no deal Brexit. A transition to steady state economics would need to be managed . A chaotic collapse would likely be worse for the environment.
Edit.....He only suggests growth going from +1.5 to 0 or possibly negative by the by!
......hope this makes you more comfortable, or is it something else? [Post edited 4 Oct 2018 8:57]
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| "Brexit recession warning from RBS boss" on 08:55 - Oct 4 with 1908 views | BanksterDebtSlave |
| "Brexit recession warning from RBS boss" on 08:43 - Oct 4 by Pinewoodblue |
It takes two to negotiate many European business leaders, especially in Germany are urging the EU to broker a deal. |
.....nice avatar (once I had made out the bottom line!) | |
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| "Brexit recession warning from RBS boss" on 08:55 - Oct 4 with 1926 views | Darth_Koont |
| "Brexit recession warning from RBS boss" on 08:43 - Oct 4 by Pinewoodblue |
It takes two to negotiate many European business leaders, especially in Germany are urging the EU to broker a deal. |
It takes two to negotiate. But as our government has shown it only takes one to make an utter pig's ear of it. | |
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| (No subject) on 08:56 - Oct 4 with 1918 views | Pinewoodblue |
| (No subject) on 08:47 - Oct 4 by BanksterDebtSlave |
To be clear it's a parallel debate not an argument for a no deal Brexit. A transition to steady state economics would need to be managed . A chaotic collapse would likely be worse for the environment.
Edit.....He only suggests growth going from +1.5 to 0 or possibly negative by the by!
......hope this makes you more comfortable, or is it something else? [Post edited 4 Oct 2018 8:57]
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Strange how small and medium businesses seem less concerned, perhaps they see an opportunity | |
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| (No subject) on 09:04 - Oct 4 with 1881 views | BanksterDebtSlave |
| (No subject) on 08:56 - Oct 4 by Pinewoodblue |
Strange how small and medium businesses seem less concerned, perhaps they see an opportunity |
I noticed that too and the bit about not lending to construction in London......those blasted bursting bubbles! | |
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| (No subject) on 09:15 - Oct 4 with 1878 views | Darth_Koont |
| (No subject) on 08:56 - Oct 4 by Pinewoodblue |
Strange how small and medium businesses seem less concerned, perhaps they see an opportunity |
I'm sure many are small enough to pivot and find other opportunities. But if they or their bigger customers are part of a supply chain then they will have many of their decisions taken for them.
Everyone's doing a good job of trying to stay optimistic outwardly as confidence is an important value. But I dread to think what happens when a major manufacturer and exporter decides they're better off and can be even more confident by re-organising their supply chain purely within the EU. I fear that the first one to do it will take the initial headlines and PR hit but then the others are free to follow. | |
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| "Brexit recession warning from RBS boss" on 09:27 - Oct 4 with 1851 views | StokieBlue |
RBS certainly had a lot to do with the crash and recession with the UK but it wasn’t the trigger for the global contagion. That was the collapse of Lehman and the subsequent total seizure of the interbank lending market. Obviously more complicated than that but I don’t think anyone really cares anymore :).
The actual person doing the interview also wasn’t there in 2008. This is worrying though:
“He also said the bank was becoming careful about lending to certain sectors of the economy - particularly retail and construction.”
That could be the worst possible thing to happen in a bad Brexit scenario.
RBS is also in a worse position than many banks due to the restructuring:
“First, as a bank that does almost all its lending in the UK, its fortunes are dependent on those of the economy as a whole.”
Either way, certainly worth taking the opinion on board I would say.
SB |  |
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| "Brexit recession warning from RBS boss" on 09:35 - Oct 4 with 1829 views | Pinewoodblue |
| "Brexit recession warning from RBS boss" on 09:27 - Oct 4 by StokieBlue |
RBS certainly had a lot to do with the crash and recession with the UK but it wasn’t the trigger for the global contagion. That was the collapse of Lehman and the subsequent total seizure of the interbank lending market. Obviously more complicated than that but I don’t think anyone really cares anymore :).
The actual person doing the interview also wasn’t there in 2008. This is worrying though:
“He also said the bank was becoming careful about lending to certain sectors of the economy - particularly retail and construction.”
That could be the worst possible thing to happen in a bad Brexit scenario.
RBS is also in a worse position than many banks due to the restructuring:
“First, as a bank that does almost all its lending in the UK, its fortunes are dependent on those of the economy as a whole.”
Either way, certainly worth taking the opinion on board I would say.
SB |
RBS buying that Dutch bank at a silly price was the trigger as they tried to increase revenue at all costs. | |
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| "Brexit recession warning from RBS boss" on 09:45 - Oct 4 with 1801 views | StokieBlue |
| "Brexit recession warning from RBS boss" on 09:35 - Oct 4 by Pinewoodblue |
RBS buying that Dutch bank at a silly price was the trigger as they tried to increase revenue at all costs. |
Trigger for what?
RBS buying ABN was not the trigger for the global financial meltdown. It did mean that when the meltdown started they weren't in a position to stay afloat but it wasn't the trigger.
The trigger was what I put in my post.
SB | |
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| (No subject) on 09:47 - Oct 4 with 1795 views | factual_blue |
| (No subject) on 08:56 - Oct 4 by Pinewoodblue |
Strange how small and medium businesses seem less concerned, perhaps they see an opportunity |
Or are unaware, or aren't involved directly in international trade... | |
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| "Brexit recession warning from RBS boss" on 09:49 - Oct 4 with 1789 views | factual_blue |
Should I be investing in a large quantity of tinned food? | |
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| "Brexit recession warning from RBS boss" on 09:50 - Oct 4 with 1788 views | Keno |
| "Brexit recession warning from RBS boss" on 09:45 - Oct 4 by StokieBlue |
Trigger for what?
RBS buying ABN was not the trigger for the global financial meltdown. It did mean that when the meltdown started they weren't in a position to stay afloat but it wasn't the trigger.
The trigger was what I put in my post.
SB |
you could actually argue that whatever the trigger was the slow burn fuse was the removal of successive layers of banking regulation, banking liquidity measures and, run the UK specifically, taking oversight away from the bank of England
(oversight was given to a group so inept they make the lookout on the titanic seem eagle eyed - the FCA) | |
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| (No subject) on 09:52 - Oct 4 with 1783 views | Freddies_Ears |
| (No subject) on 08:56 - Oct 4 by Pinewoodblue |
Strange how small and medium businesses seem less concerned, perhaps they see an opportunity |
They export less. And tend to be less well informed about disruption to component supply and impact of tariffs. |  | | |
| (No subject) on 09:54 - Oct 4 with 1776 views | factual_blue |
Also one of our arrow-happy brethren thinks 'ironic' means 'untrue'. [Post edited 4 Oct 2018 9:58]
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| "Brexit recession warning from RBS boss" on 09:58 - Oct 4 with 1770 views | StokieBlue |
| "Brexit recession warning from RBS boss" on 09:50 - Oct 4 by Keno |
you could actually argue that whatever the trigger was the slow burn fuse was the removal of successive layers of banking regulation, banking liquidity measures and, run the UK specifically, taking oversight away from the bank of England
(oversight was given to a group so inept they make the lookout on the titanic seem eagle eyed - the FCA) |
Certainly that was a factor, however the main issue with regards to regulations was the reduction of the amount of tier 1 capital banks had to hold and the changes to allow massive leverage (the removal of regulations actually started in the 80's in the US). It meant that when the interbank lending market dried up there was nowhere to access the liquidity they needed to cover their leveraged positions which were about to roll. That market dried up due to the collapse of Lehman which was itself due to a contraction in house prices in the US, especially in the sub-prime sector which lead to lots of defaults on mortgages.
It's actually quite an interesting subject and fairly complicated, but as I said, I don't think many people care anymore. Happy to go into it in more depth if you like though!
SB | |
| Avatar - M51 - The Whirlpool Galaxy - Taken on 29th April 2024 |
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| "Brexit recession warning from RBS boss" on 10:00 - Oct 4 with 1764 views | chicoazul |
| "Brexit recession warning from RBS boss" on 09:27 - Oct 4 by StokieBlue |
RBS certainly had a lot to do with the crash and recession with the UK but it wasn’t the trigger for the global contagion. That was the collapse of Lehman and the subsequent total seizure of the interbank lending market. Obviously more complicated than that but I don’t think anyone really cares anymore :).
The actual person doing the interview also wasn’t there in 2008. This is worrying though:
“He also said the bank was becoming careful about lending to certain sectors of the economy - particularly retail and construction.”
That could be the worst possible thing to happen in a bad Brexit scenario.
RBS is also in a worse position than many banks due to the restructuring:
“First, as a bank that does almost all its lending in the UK, its fortunes are dependent on those of the economy as a whole.”
Either way, certainly worth taking the opinion on board I would say.
SB |
Isnt RBS still largely owned by the Government? I wouldnt be surprised if the Govt use it as an engine to inject finance directly into the economy if the worst does come to pass. A form of QE. |  |
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| "Brexit recession warning from RBS boss" on 10:01 - Oct 4 with 1760 views | StokieBlue |
| "Brexit recession warning from RBS boss" on 10:00 - Oct 4 by chicoazul |
Isnt RBS still largely owned by the Government? I wouldnt be surprised if the Govt use it as an engine to inject finance directly into the economy if the worst does come to pass. A form of QE. |
Yes, ~65% government owned.
SB | |
| Avatar - M51 - The Whirlpool Galaxy - Taken on 29th April 2024 |
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