Off Topic EU deabte. Which way are you voting ?
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Much of the prediction for the damage to the UK economy from most of those quoted on here have been called into question, to such a degree that it's no more credible than the previous predictions on big issues such as the EMF and Euro, which they got totally wrong.
However, if you do choose to base an opinion on the predictions of the same so called experts, it's worth looking in more detail, as even they tend to be showing a steep growth in the economy for the medium to longer term predictions.
It's also worth looking at the same peoples predictions for remaining. It's far from a clear cut financial disaster for the UK as some would have you believe.
You can find an argument to support any amount of nonsense with a "scour of the web". Barack Obama is an alien lizard, the earth is flat, the FBI blew up the twin towers, a secret cabal of Jewish masons run the world from a bunker under the City of London...and Brexit won't damage the UK economy. I read it on the internet.
I base what I say on evidence. You have only to see how markets behave at the merest hint of Brexit to know what will happen should it become a reality. They will crash, absolutely no doubt about it!
Every credible major institution, think tank, economist all warn of the dangers to the economy of leaving.
Ignore them at your peril.
Exactly! Any credible institution from the World Bank on downwards has warned of the threat to the economy of Brexit.
Of course you will find some contrary opinions. Best to believe your own eyes and look at the markets and how they behave. They are telling you what's going to happen if Brexit wins!
It won't be pretty for the pound or the stock markets - which, incidentally is where your pension is invested!
Believing the intitutons some have quoted on here, without looking deeper into what they say and why, is naive in the extreme.
None are acting independently, and all are acting in their own self interest, rather than the best interest of us the public.
They've also got a clear record of getting the big predictions very, very wrong .
None are acting independently, and all are acting in their own self interest, rather than the best interest of us the public.
They've also got a clear record of getting the big predictions very, very wrong .
What possible gain does the World Bank get one way or the other??
I give up. Believe what you want to believe. The markets are telling you what will happen. You can believe them, for sure!...
The markets will spook due the uncertainty it's not even a matter of debate
The pound will also tank for the same reason leading to inflation it's basic economics which is why the vast majority have predicted it - including the Governor of the BoE.
I thought this, but when I investigated, they really don't.
They have to pay to be a member of the European Free Trade arrangement, their net contribution is €107 per capita, against our €139m per capita contribution, yet they get no say on the legislation passed. They also had to agree to abide by the Schegen Area agreement, so allow free movement of people and actually have higher percentage net migration numbers than we do.
In addition, though they have in theory got the right to reject some EU laws, they've never actually tested their ability to do so and have accepted all EU laws (mainly because they get a 15% rebate that the EU can withdraw if they don't accept everything). They do have the ability to negotiate some trade deals and have some arrangements that differ to other EU states (mainly in the fishing industry), but they're effectively members of the EU in all but name.
Thank you for that simple explanation of what I consider a fact, I'm sure some morons will counter this fact with complete nonsense.
It is basic economics. However, with the U.K. Economy stil in a fragile state after recession, the negative effects on it of Brexit could only be countered to a small extent by the BOE. They would be caught between a rock and a hard place. Inflation rising normally would mean a quick response of an interest rate rise. However, with the increased fragility of the economy, I'm wondering how much room the BOE would have to put increased pressure on an economy sliding back into recession by increasing rates.
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