Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
How to Capitalise on the Robots - 20th June 24
Bitcoin, Gold, and Copper Paint a Coherent Picture - 20th June 24
Why a Dow Stock Market Peak Will Boost Silver - 20th June 24
QI Group: Leading With Integrity and Impactful Initiatives - 20th June 24
Tesla Robo Taxis are Coming THIS YEAR! - 16th June 24
Will NVDA Crash the Market? - 16th June 24
Inflation Is Dead! Or Is It? - 16th June 24
Investors Are Forever Blowing Bubbles - 16th June 24
Stock Market Investor Sentiment - 8th June 24
S&P 494 Stocks Then & Now - 8th June 24
As Stocks Bears Begin To Hibernate, It's Now Time To Worry About A Bear Market - 8th June 24
Gold, Silver and Crypto | How Charts Look Before US Dollar Meltdown - 8th June 24
Gold & Silver Get Slammed on Positive Economic Reports - 8th June 24
Gold Summer Doldrums - 8th June 24
S&P USD Correction - 7th June 24
Israel's Smoke and Mirrors Fake War on Gaza - 7th June 24
US Banking Crisis 2024 That No One Is Paying Attention To - 7th June 24
The Fed Leads and the Market Follows? It's a Big Fat MYTH - 7th June 24
How Much Gold Is There In the World? - 7th June 24
Is There a Financial Crisis Bubbling Under the Surface? - 7th June 24
Bitcoin Trend Forecast, Crypto's Exit Strategy - 31st May 24
Zimbabwe Officials Already Looking to Inflate New Gold-Backed Currency - 31st May 24
India Silver Imports Have Already Topped 2023 Total - 31st May 24
Gold Has Done Its Job – Isn’t That Enough? - 31st May 24
Gold Stocks Catching Up - 31st May 24
Time to take the RED Pill - 28th May 24
US Economy Slowing Slipping into Recession, But Not There Yet - 28th May 24
Gold vs. Silver – Very Important Medium-term Signal - 28th May 24
Is Gold Price Heading to $2,275 - 2,280? - 28th May 24
Stocks Bull Market Smoking Gun - 25th May 24
Congress Moves against Totalitarian Central Bank Digital Currency Schemes - 25th May 24
Government Tinkering With Prices Is Like Hiding All of the Street Signs - 25th May 24
Gold Mid Tier Mining Stocks Fundamentals - 25th May 24
Why US Interest Rates are a Nothing Burger - 24th May 24
Big Banks Are Pressuring The Fed To Losen Protection For Depositors - 24th May 24
Another Bank Failure: How to Tell if Your Bank is At Risk - 24th May 24
AI Stocks Portfolio and Tesla - 23rd May 24
All That Glitters Isn't Gold: Silver Has Outperformed Gold During This Gold Bull Run - 23rd May 24
Gold and Silver Expose Stock Market’s Phony Gains - 23rd May 24
S&P 500 Cyclical Relative Performance: Stocks Nearing Fully Valued - 23rd May 24
Nvidia NVDA Stock Earnings Rumble After Hours - 22nd May 24
Stock Market Trend Forecasts for 2024 and 2025 - 21st May 24
Silver Price Forecast: Trumpeting the Jubilee | Sovereign Debt Defaults - 21st May 24
Bitcoin Bull Market Bubble MANIA Rug Pulls 2024! - 19th May 24
Important Economic And Geopolitical Questions And Their Answers! - 19th May 24
Pakistan UN Ambassador Grows Some Balls Accuses Israel of Being Like Nazi Germany - 19th May 24
Could We See $27,000 Gold? - 19th May 24
Gold Mining Stocks Fundamentals - 19th May 24
The Gold and Silver Ship Will Set Sail! - 19th May 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

EU Referendum - British People vs Establishment Elite, Vote LEAVE an Act of Defiance!

ElectionOracle / EU_Referendum May 31, 2016 - 06:57 AM GMT

By: Nadeem_Walayat

ElectionOracle

The battle lines of the EU Referendum clearly breakdown into two distinct camps, on the one side you have the LEAVE under funded under dogs, that comprise maverick politicians and small businesses, and the mass of the electorate, especially appealing to the low paid working class Labour voters, and to a lesser extent the Tory voting working and middle classes who have seen their earnings decimated as a consequence of 5 million EU workers driving down wages. Against which are marshaled the forces of the establishment, those who have literally held or bought REAL power for centuries! The rich, big business, big media and their pocket politicians with numerous vested interests such as the Farmers who rake in hundreds of thousands of pounds in EU bribes (subsidies) each year to buy their support and votes.


So the real issue of the EU Referendum campaign is that of the establishment elite residing in a bubble where they are not only NOT impacted by the consequences of out of control immigration but in fact PROFIT from it, i.e. big business likes cheap EU labour, despite the fact that cheaper EU labour is subsidised by the tax payers through in work benefits to the tune of upto £26k per family, which far exceeds the wage they earn on which given the £10k tax free allowances would not pay ANY tax on. This migrant workers subsidy to big business costs the tax payer at least £75 billion per annum!

For instance a EU migrant working family (2 adults, 3 children) may earn just £15k per annum in wages, on which they would pay NO tax, on which they would be in receipt of tax credits and other in work benefits, including child benefit and housing benefit upto the benefits cap of £26k. So the net financial position to Britain is already -£26k! This is BEFORE the cost of state services such as health and social care are taken into account. For instance schooling per year for the three children would cost £15k per annum! Therefore the financial loss to Britains has already reached £41k per annum before we even touch on any other costs of servicing a low paid EU family.

And then on top of this are the social costs of mass migration in terms of housing, school places, access to health services, for instance getting to see a dentist has become near impossible as dentists revise their conditions for remaining as a registered patient down from 2 years towards 12 months so that when a British patient phones they are told point blank that they are no longer registered due to demand for NHS dentistry from EU migrants and thus should go private at typically 5 times the cost of NHS treatment, in another example of tax payer subsidy to migrant workers.

Of course none of this is a problem for the elite for they have their private dental treatment plans, their private hospitals, reside in affluent areas that are only the preserve of the wealthy international jet set that add to house price valuations. Basically the elite, the 1% do not inhabit the same world as most Brit's and therefore are not only immune to the consequences of out of control immigration but actively profit from its continuation, hence why it's the rich such as billionaires such as Lord Green and Virgins Branson and vested interests such as senior politicians seeking to retire to a cozy positions in Brussels, and the mainstream media such as the BBC who have been banging the propaganda drum the loudest for a REAMIN vote outcome, for it serves their interests and NOT that of most of the British people!

The last migration statistics form the ONS once more illustrated what has been a decade long accumulative migration crisis, one of year after year of out of control immigration that instead of numbering in the tens of thousands as David Cameron has been iterating every year since he took power in 2010, instead the latest data from the ONS shows that net immigration remains OUT OF CONTROL at levels far higher level than Labour's 2010 disastrous figure of 205k that David Cameron promised to control that today stands well above 300k and trending towards 400k per annum. Remember this is ACCUMULATIVE 300k+330k+400k, would total a net immigration population increase of 1 million over JUST the next 3 YEARS! Which would be in addition to natural population growth now running at about 300k per annum.

"Overall, net immigration would be kept in the tens of thousands, rather than the current rate of hundreds of thousands”. Promised David Cameron in 2010.

33

Therefore instead of net migration during the past 6 years of 120k to 180k. Instead Britain has experienced a mass uncontrolled net inflow of near 2 million! More than TEN TIMES that which David Cameron keeps promising! Therefore Britain has had to suffer 2 million extra hungry mouths to feed, house and service with NO net benefit to the economy due to receipt of in work benefits of upto £26k per annum per household.

The bottom line is that David Cameron's government has repeatedly demonstrated that it HAS NO CONTROL over Britain's borders whilst within the EU, which means that out of control immigration WILL CONTINUE TO PERSIST and the trend for which is BOTH EXPONENTIAL and UNSUSTAINABLE as the next 6 years could easily see an inflow of at least another net 2 million of migrants, which is what the elite who are immune to its consequences want!

The bottom line the British people are mere pawns in the games of the Elite play, cannon fodder in times of war and wage slaves in times of peace, to their profit from to maximum extent. For instance remember the Iraq war? Remember how the establishment lied to get Britain to enter into an illegal war so that British and US oil giants would steal a stake in Iraqi oil! All on the basis of lies, 500,000 Iraaqi's were murdered, all whilst the likes of Tony Blair's Labour government and Cameron's Tories pumped out reams of propaganda (LIES) gladly regurgitated by the establishment media such as the BBC. The lie peddled was that the Iraq war was all about getting rid of a brutal dictator called Saddam Hussain, all whilst failing to realise that the only reason Iraq was being held to together in the first place was because it had a brutal Dictator at its helm! Take away the dictator and it all falls apart, as it soon did following the invasion. Whilst Britain and America after a decade of carnage surrendered from the unwinnable war, withdrawing ground forces and letting the drones take over the killing.

That IS just ONE example of the games the establishment plays, so in my opinion June 23rd is a unique chance for the British people to give the establishment elite a bloody nose, for once not to be led by wolves to the slaughter house, but to do what's best for Britain by voting to LEAVE the EU! This is not just a vote for Freedom from the EU but an act of defiance against the ruling establishment.

BrEXIT New Dawn for Britain!

EU Referendum - Britain Better off LEAVING the EU

Over the past 18 months of analysis I have come to the firm conclusion that on the balance of probabilities that Britain would be far better off in the long-run by LEAVING to the European Union. Yes, there would be short-term uncertainty and some economic pain, but the price of remaining within the EU will be INFINITELY greater as my articles such as this and videos to date illustrate.

For instance research by the SMF/Adecco Group states that if EU migrants were subject to the same visa requirements as non EU migrants then 90% of whom would NOT have been allowed entry into the UK for work! i.e. instead of approx 4.5 million EU migrants since 2000, there would only have been 450,000! Which suggests that following BrExit immigration from the EU could fall by about 90%!

Whilst those who stick their heads in the sand and imagine that the situation will magically correct itself on its own are just fooling themselves, as EU immigration is set to accelerate further due to living wage of £7.20 per hour and set to rise towards £10 per hour, whilst the living wage in many eastern european nations is just £1 per hour, that illustrates that the pull is only going to get even stronger.

Therefore with less than 4 weeks to go and the opinion polls virtually neck and neck on 44%, I have been ramping up our campaign for a BrExit outcome as we enter this last stretch, producing Brexit resources from in-depth analysis, rebuttal articles such as this, many videos, and also active on the social networks so as to do our best to play a part in Britain in securing Britain's long-term future, Britain's very last chance for freedom which you too can help to achieve by supporting the Brexit cause.

Counting Down to Freedom - Support Our BrExit Campaign

And also ensure you are subscribed to my always free newsletter (only requirement is an email address) for forthcoming in-depth analysis and detailed trend forecasts that include the following :

  • BrExit to Save Europe from the Apocalypse
  • US Dollar Trend Forecast
  • UK Housing Market Trend Forecasts
  • US Stock Market Forecasts
  • US House Prices Detailed Multi-Year Trend Forecast
  • Gold and Silver Price Forecast

By Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2016 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 25 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Housing Markets Forecast 2014-2018The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in