Elite merchants of #Brexit doom expose their own pre #EUref lies

Posted: July 22, 2016 by tallbloke in alarmism, Analysis, Big Brother, EU Referendum, Forecasting, People power, Politics, propaganda, solar system dynamics

osborne-brexit-fear

Post referendum analysis from Rodney Atkinson at Freenations.net

One of the most obnoxious features of the post Brexit climate is that the biggest liars and doom mongers in political history – the Remain campaigners – now accuse Leave Campaigners of lying! This has been picked up in continental attacks on Boris Johnson who, if anything, was rather kind and accommodating given the damage done to people, banks and businesses by the Euro corporatist elites. Now those liars are exposing their own lies:

THE IMF

Before the Brexit vote the IMF head, Christine Lagarde (whose appointment was avidly supported by George Osborne) said that the impact on the UK economy of a Brexit vote went from “pretty bad to very, very bad” and that there could be a recession.

Today the IMF says it has a “benign” view of the Brexit effect on the UK economy, there would be no recession and their revised forecast for UK growth is the same as their revised forecast for USA growth (-0.2% for 2016). Their forecast for UK growth in 2017 is 1.3%

GEORGE OSBORNE

Having said before the Brexit vote that leaving the EU would be disastrous for the UK and there would be a recession and an emergency budget Chancellor Osborne finds unemployment has reached an 11 year low of 4.9% (less than half the EU average) and there was no need for an emergency budget. With the heads of six large investment banks based in London (many of whom had also been Brexit doom-mongers) Osborne noted that the UK has “one of the most stable legal systems in the world, a brilliant workforce and deep, liquid capital markets unmatched anywhere else in Europe, all of which are underpinned by world class regulators.” Osborne had to admit on behalf of the Government that:

“For first time in 40 years, the UK will be setting its own trade terms. So we should begin the conversation now with the US, and with the members of the North American Free Trade Agreement. The US is the largest single destination for UK exports, and the UK is America’s largest trading partner in Europe.”

There have been similar changes in the previously doom laden predictions of many companies who threatened to leave the UK – Vodaphone, JP Morgan and HSBC, while Barclays chairman John McFarlane also said the bank had no plans to move staffand their crisis plans had been cancelled – but they were sticking to their plan to sell a French bank!

THE BANK OF ENGLAND

Osborne has gone and it is urgent that his appointee, the Governor of the Bank of England Mark Carney is also replaced. Even before the great Brexit debate the Bank under his leadership had a poor record in the City. Forecasts were poor and “guidance” as to future interest rates have proved wrong or misleading.

But Dr Carney’s blatantly political (and probably illegal under referendum law) interventions in the Brexit debate contradicted the traditional role of the Bank of calming and supporting financial markets. Instead of assuring markets that the Bank would support the economy regardless of the result of the Brexit vote Carney had for many months been warning in hysterical terms that Brexit would cause severe problems for the British economy.

After the Brexit vote Carney, as if to perversely bring about the doom he had forecast, did even more to undermine confidence in the British economy. Despite the fall in the Pound, which in itself provides a financial stimulus, Carney signalled a totally unnecessary further cut in interest rates (from 0.5%) and offered more funding for bank lending. This cut has now been postponed and the Pound has rallied after Carney did NOT implement his policy!

His job requires him to maintain economic and currency stability – not to undermine them. Carney’s threat to reduce already minimal interest rates further flew in the face of his justified warnings that excessively low interest rates were a danger to banks’ PROFITABILITY AND STABILITY just when bank confidence was threatened and when Carney’s own warnings required support for business from those very banks.

The Bank of England seems all at sea. Governor Carney, having warned of disaster before Brexit shortly after the vote said that “Brexit risks are beginning to chrysalis”. Then the bank’s chief economist Andy Haldane  supported a “sledgehammer” approach to stabilising the post-Brexit economy as he warned unemployment could rise. (unemployment has just fallen to 4.9% the lowest since 2005 and the lowest on either side of the Atlantic!)

But then the Bank’s own survey published on 20th July found that a majority of firms questioned were not planning to mothball investment or change hiring plans. On the same day the latest trading report from the retailer John Lewis said spending in its department stores and at its Waitrose supermarkets were 3.2% higher in the week ending 16 July than they had been in the same week of 2015. Under Governor Carney the Bank has lost all credibility on the economic front and meddled unconstitutionally on the political front.

Under Cameron both Carney’s Bank of England and Osborne’s Treasury were exploited for political ends and lost that assured civil service objectivity on which all sides of politics and business depend. Osborne has now gone – Carney must follow.
GOOD NEWS FOR THE UK – BAD NEWS FOR THE EU:

Here are some recent news items which show how the EU is in far greater crisis than the UK after Brexit. The UK will be importing without EU tariffs and without massive regulatory costs and without paying £10,000m p.a. in net budget contributions. Many businesses and business organisations are supporting and defending the UK:

Speaking to The Financial Times, Markus Kerber, Managing Director of the BDI – Germany’s leading business association – said that when it comes to Brexit negotiations, “We should not talk about punishing people… We should look after our own economic interests.” He added “What I’m against is a game where even if the UK wants a Swiss or Norwegian deal, the EU says: ‘Let’s hit them hard on the head’.”
…………………………………………………………………………………………………
US bank Wells Fargo has agreed to buy (note NOT lease) a newly built office in the City on King William Street for £300m – a sign of long term confidence in London and the UK.
…………………………………………………………………………………………………
Property law firm Collier Bristol reported “Dollar denominated investors from Singapore, Hong Kong, Middle East and elsewhere in Asia are keen to ock in favourable exchange rates and that has resulted in a strong push for (property deal) negotiations”.
…………………………………………………………………………………………………
North London Estate Agent Leaf said: “No valuations or viewing appointments were cancelled and new appointments have been arranged”
…………………………………………………………………………………………………
The world’s biggest hotel group predicted that the fall in the pound would lead to a tourist boom for the UK
…………………………………………………………………………………………
THE LSE – DEUTSCHE BOERSE MERGER:
“Whether the UK is just European or a member of the EU the merger will create a globally competitive, industry defining market infrastructure group at the service of European industry” – LSE

WHILE THE EU COLLAPSE CONTINUES:

  • French bank Societe Generale analyst warned Italy and France could quit the single currency EU
  • The Italian banks are in grave crisis and their bail out by the Italian Government could be blocked by the EU which forbids Government bailing out banks until the bond and shareholders (including small Italian savers) are hit!
  • Rating agency Moody’s said the future of the entire EU was at risk
  • Banks across Europe came under increasing stress
Comments
  1. tallbloke says:

    Not just the economy either. Here’s PM May putting the Cameron “Migrant camps will move from Calais to Kent” lie to bed.

  2. E.M.Smith says:

    So the end of life as we know it has been called off then? Armageddon postponed to the next vote is it? Well, time for spot of tea, I think….

  3. c777 says:

    Wait until the economy soars, the real costs of the EU are not so much the 53 million a day, the real costs are the red tape and regulation, a Lead weight on the shoulders of industry and commerce.
    Now about that Climate Change Act…..

  4. tom0mason says:

    The UK setting it own tariffs and trade deals can only be better for the UK than any arrangement the EU can set. The EU and UK will trade but an accord has to mutually beneficial or it just will not happen, and if the EU plays hard ball then the EU looses while the UK still has the rest of the world to deal with.

    With all the international trade deals on offer to the UK, I believe the future may be brighter than the EU controlled past, even though what is imminent looks bumpy.

  5. Curious George says:

    The doom was not a forecast; merely a projection. Elites know their way in the legal system.

  6. Ivor Ward says:

    Yet the BBC and Yahoo are relentlessly searching for gloom and doom. This latest one from the Beeb ( http://www.bbc.com/news/business-36864273 ) claims the end of life as we know it by claiming that the hurt feelings of a few businessmen who bet the wrong way are actually Data. The headline says everything you need to know about the BBC.

  7. mpcraig says:

    This is interesting. I’m now reading this as the EU (and remain campaign) saying the UK would be worse off outside the EU when all the while what they really meant was that the EU would be worse off without the UK.

    I wonder if they campaigned on compassion (i.e. please stay because we will be worse off) rather than fear (i.e. please stay because you’re screwed on your own) if the vote results would have been different?

  8. Paul Vaughan says:

    “[…] Dr Carney’s blatantly political (and probably illegal under referendum law) interventions in the Brexit debate contradicted the traditional role of the Bank of calming and supporting financial markets. Instead of assuring markets that the Bank would support the economy regardless of the result of the Brexit vote Carney had for many months been warning in hysterical terms that Brexit would cause severe problems for the British economy.

    After the Brexit vote Carney, as if to perversely bring about the doom he had forecast, did even more to undermine confidence in the British economy. […]
    […]
    Under Governor Carney the Bank has lost all credibility on the economic front and meddled unconstitutionally on the political front.”

    Carney has been abusing his Bank of England image and title to interfere in Canadian climate politics.

    Carney’s intentions may have been genuinely noble, but his judgement was reprehensibly naive. While I do not doubt that Carney’s credibility in his current role has been undermined, I worry that he will be offered some other role where he will continue to be a threat to global stability.

  9. catweazle666 says:

    IMF head Christine Lagarde ordered to face trial over Bernard Tapie scandal

    Court pulls France’s former finance minister back into the financial scandal that has run for more than two decades

    Christine Lagarde, the head of the International Monetary Fund (IMF), has been charged with “negligence” by a French court over her role in a €403m (£293m) sum handed over to a French businessman.

    http://www.telegraph.co.uk/finance/financial-crime/12056620/IMF-head-Christine-Lagarde-ordered-to-face-trial-over-Bernard-Tapie-scandal.html

    Oops…

  10. Paul Vaughan says:

    From clipe’s link:

    “[…] Carney is stirring trouble when he should be calming the markets. Carney “has campaigned as a politician would and that, for a central banker, is absolutely the kiss of death.””

  11. Fast says:

    Carney is going to lose his job. He knows it. The shame is that it appears he is playing up to the Liberal government back in Canada looking for a new job there and not doing what is best for stability in the UK.

  12. Paul Vaughan says:

    That puts the stability focus on Trudeau Jr. I hope and pray that he is not so naive. I suggest let’s not waste time on cheap shots at him. Let us just observe what choice he makes in this case and then judge. This is the best way to learn whether is on the side of global stability or not. If Trudeau Jr. is wise enough to steer clear of tainted Carney, that will tell us something useful about his potential utility as a double-agent. On the other hand if Trudeau Jr. would empower someone with a philosophy like Carney’s to do damage, that screams naivety. This will perhaps be the most interesting test I’ve seen Trudeau Jr. faced with to date. It’s a very practical test. This isn’t campaigning, projection, optics, & image; rather it’s real, consequential, and applied. I hope Trudeau Jr. secretly knows more about natural climate variations than he lets on. I hope he at least secretly appreciates and respects domineering nature.

  13. Paul Vaughan says:

    How stupid does someone have to be to think they can plan the future of the economy on the basis of something as simple and trivial as the CO2 curve?

    Who would be stupid enough to do their actual (transparent) planning based on that …leaving their strategy naked, maximizing their vulnerability to (in this case laughing) predation…?

    Trudeau Jr. could easily undermine everything else he hopes to do if he could possibly be so fatally naive.

    We’re going to learn if he truly stands for or against global stability.

    Is he a force of construction or a force of destruction?
    This is an interesting test. As always: Looking forward to learning from nature exploration.

    We’ll learn more if we don’t interfere, opting to observe and learn of any natural wisdom (or lack thereof) in his networks…

  14. Fast says:

    Coming this fall in a country near you PV, Trudeau jr. will implement his plan for a national carbon tax to fund his social program and at the same time approve the transmountain pipeline to mollify Alberta and the oil patch. It will either be seen as brilliant or moronic: probably both depending on ones political or scientific views.

  15. Paul Vaughan says:

    Perhaps Carney will become a Canadian politician. Then is behavior could pass as contextually appropriate.

  16. oldbrew says:

    Brexit was disastrous for Osborne’s own employment😀

  17. JohnR says:

    WE have not departed the EU yet. The money people are working to ensure we don’t. When we *do* finally get around to tabling our EU “we do want out really” notice and start the real negotiations as to what our post A50 future will be, then I’ll believe any of the prattling. ANYTHING that retains freedom of movement will not be an exit of the EU. If the EU allows a watered-down version where we get to allow highly-qualified/educated migrants free movement, then it’s signing its own death warrant. Also, quite a few people are now looking deeply at various other regulations and treaties, and realising that even a total departure from the union will only be a retreat to an “at arms length” distance, since we are tied into a global system of regulation that the EU is a major player in.
    None of the parties really want out. Even UKIP!
    The people?
    Do they matter: In the long run?

  18. suricat says:

    JohnR says: July 26, 2016 at 8:49 am

    “ANYTHING that retains freedom of movement will not be an exit of the EU. If the EU allows a watered-down version where we get to allow highly-qualified/educated migrants free movement, then it’s signing its own death warrant.”

    I concur John. Successive governments and employers, during the ‘free movement era’, have realised that its ‘cheaper’ to ‘import’ ‘foreign skills’ and ‘re-train them’ to the ‘regional standard’, rather than to ‘train to a skill’ the ‘native population’!

    For the part of ‘Europe’s unification’, this practise generates ‘dependency’ between ‘Nation States’ and forces a ‘closer union’. A way out of this could be to offer an approximation of the American equivalent of a ‘green card’ to current ‘migrant workers’ in the UK from other EU states. However, .gov.uk needs to step up ‘skills training’ in the UK to an adequate level that our nation needs for progress into the future once ‘Brexit’ is declared.

    “The people?
    Do they matter: In the long run?”

    Yes! If ‘policies’ don’t work it becomes a ‘fist fight’ to get to where we need to be.

    Best regards, Ray.

  19. suricat says:

    tallbloke says: July 22, 2016 at 12:42 pm

    Quite so Rog! All bi-lateral agreements transcend ‘Brexit’ don’t they.

    Er, EU bindings are ‘bi-lateral’ aren’t they? What’s the problem with ‘Brexit’?

    I guess we just need to ‘cherry pick’ the ‘bi-laterals’ that we want to ‘keep/loose’.🙂

    Is this not so?

    Best regards, Ray.

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