The EU debate - Part II

If i'm still alive and posting,remind me you told me.In time you may have a different opinion
of the whole scenario.

 

‘The EU is close to death’: Bloc trade chief launches bitter warning amid fears Canada deal could

http://www.dailymail.co.uk/news/art...-warning-amid-fears-Canada-deal-collapse.html

They cant organise a piss up in a brewery, good job we are leaving to create our own deals.

 

It's the Daily Mail so it will be a ****, biased article designed to appeal to far right simpletons and scared old grannies...but the EU is doomed, there's little doubt about that. Sadly we will be taken down with it in an even worse capacity as we will have no influence over the future of our key trade partner.

Not a lot of thought went into that by the Daily Mail readers but they've got their poorer, weaker, still populated by the foreigners they hate, country back.

A great victory!

 

Interest rates are CUT for the first time in seven years as Bank of England slashes base rate to 0.25% but says there will be no Brexit recession

Says Gov of Bank of Englishland

 

Are you beyond stupid?

The Bank of England is not very confident about the future of the economy.
It says growth will fall dramatically, announcing the biggest downgrade to its growth forecast since it started inflation reports in 1993.
The economy, it says, will be 2.5% smaller in three years' time than it believed it would be when the Bank last opined on these matters in May.
Unemployment will rise (although only marginally), inflation will rise, real income growth will slow and house prices will decline.
Growth, the Bank believes, will fall perilously close to zero over the final six months of this year.
It predicts that the amount of money lent through the scheme could reach about £100bn.

http://www.bbc.co.uk/news/business-36976528

 

Pound plunges as Bank of England cuts interest rates for the first time in seven years
A dramatic set of figures show UK economy will virtually grind to a halt because of decision to leave the EU

http://www.independent.co.uk/news/b...ark-carney-brexit-eu-referendum-a7171686.html

But never mind all that, have the ten to a room Romanians and the Muslims been kicked out yet?!

 

from you same article

Fighting off recession
Before the referendum, there were warnings of a recession if there was a vote to leave the EU.

The Bank of England's quarterly inflation report does not foresee a recession, although all of its forecasts take into account the stimulus measures.

 

Not really something to celebrate.

 

But we all knew that this may happen, you seem shocke and the rest of us are not.

Also currency values drop when you get a rate reduction, it always happens, so nothing new here.

 

The most worrying thing is the huge drop in the growth forecast. It's virtually unprecedented! These sort of numbers normally vary by one or two tenths of a percentage point. A drop of 1.5% is truly massive!.

It signifies that the BOE is expecting a very steep decline in the economy.

 

I'm not shocked at all. I knew this would happen. You denied there would be any major impact.

The only shocking thing is so many people were ill informed enough to vote for it. Who votes for a recession/economic downturn?!

Would anyone vote for a political party that promised to take steps to devalue the pound, shatter business and consumer confidence and decrease house prices simply because they also promised to get rid of some foreigners?

Actually strike that last question!

 

Just out of interest, how have the BOE's forecasts performed over the last few years?

Genuine question...

 

It is really worrying. Awhile before the referendum some were forecasting another recession by 2019 because of our slow recovery from the 2007 recession, the lack of investment among other things, but this seems to indicate that Brexit could bring it on much quicker.

If we are in a recession when exiting the EU - a hugely unstable time. Then it'll severely weaken our negotiating position against the much bigger economies of the EU, USA/NAFTA, China and ASEAN Trading Bloc. makes you wonder what we will have to sacrifice to get any terms - such as TTIP, which our current government is all for, or greater freedom of movement.

 

Damn these experts, what do they know. Joe down the pub told me it'll all be alright and every country will come begging us for trade, so I'm reassured...

 

Dumb ****! It was a question, not a statement.

 

We told you before the referendum that the forecasts were for a drop in GDP of between 1.7% and 6% over the coming years.

You lot wrote it off as scaremongering.

Hey presto, the BOE have now downgraded their growth forecast by 1.5% for 2017 alone, and this is BEFORE we've actually pressed the self destruct button i.e. article 50.

We also told you that the net cost of EU membership was 0.4% of GDP and that the reduction in GDP post brexit would more than wipe out any 'saving' - it seems that 2017 will see that come to fruition.

A contracting economy, a devalued currency, £100BN thrown at the banking sector to keep it afloat, increased unemployment, higher inflation, lower house prices, less disposable income........

But at least we got 'our' country back.

****ing idiots

 

Don't forget we also got '£350m a week' and stopped the... how did they put it? ohh yes... 'Swarm of immigrants' sending us to 'breaking point'

 

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Carney's statement. Diplomatic, but it's just a tad short on optimism and good news!...

http://www.bloomberg.com/news/artic...with-rate-cut-and-new-round-of-money-printing

 

But what do experts know?