The economic consequences of Brexit (Vol 3)

[sidicks]

Ghibli said:

And here we are again.

The PH Brexit dream and you JAQing off again.

You mean someone making stupid unsupportable claims, you trying to defend them but failing. You getting the wrong end of the stick and failing to acknowledge your mistake?

No idea about your ‘Brexit’ dream. Is this something else you’ve made up?

Edited by sidicks on Friday 26th January 15:34

[anonymous-user]

sidicks said:

Ghibli said:

And here we are again.

The PH Brexit dream and you JAQing off again.

You mean some making stupid unsupportable claims, you trying to defend them but failing. You getting the wrong end of the stick and failing to acknowledge your mistake?

No idea about your ‘Brexit’ dream. Is this something else you’ve made up?

Last time and then I will let you have the last word.

The claim I made was that Carney has a better idea than random blokes on the internet.

At the start of my post I said "Maybe Mr Soup"

I posted a link to Carney's speech the day after the referendum.

See if you can work out what claims I made.

[sidicks]

Ghibli said:

Last time and then I will let you have the last word.

The claim I made was that Carney has a better idea than random blokes on the internet.

At the start of my post I said "Maybe Mr Soup"

I posted a link to Carney's speech the day after the referendum.

See if you can work out what claims I made.

I still haven’t said that you’ve made any ‘claims’. HTH
Which bit are you still struggling with?

Perhaps just admit you misread my earlier post?

By the way, what has Carney’s speech about what the BoE might have to do got to do with they actually did do?

Edited by sidicks on Friday 26th January 15:43

[PurpleMoonlight]

sidicks said:

still haven’t said that you’ve made any ‘claims’. Which bit are you still struggling with?

What has Carney’s speech about what the BoE might have to do got to do with they actually did do?

I have a feeling they reduced the interest base rate, but I might be wrong.

[sidicks]

PurpleMoonlight said:

I have a feeling they reduced the interest base rate, but I might be wrong.

Immediately?

[Yipper]

Good to see UK GDP back on the up. Four solid quarters of rebound in 2017 and an even stronger 2018 on the horizon.

Someone needs to fire Carney. His relentless desire to talk down the UK economy and the country that pays his wages is bizarre.

[PurpleMoonlight]

sidicks said:

Immediately?

Aug 2016, which is probably as quickly they could reasonably have done so.

[sidicks]

PurpleMoonlight said:

Aug 2016, which is probably as quickly they could reasonably have done so.

[PurpleMoonlight]

sidicks said:

Whatever.

[sidicks]

PurpleMoonlight said:

Whatever.

Was it just tea and biscuits at the July meeting!

[jjlynn27]

sidicks said:

What's funny?

[Ridgemont]

jjlynn27 said:

sidicks said:

What's funny?

Carney’s amazing plan that staved off an immediate recession as forecast after the vote can be summarised thus:

1) a quarter point base rate fall in Aug ‘16

2) £60bn QE

https://www.theguardian.com/business/2016/aug/04/b...

There is a little scepticism abroad that the continued absence of any vote related recession is due to Carney’s Amazing Plan (TM). There are plenty on the leave side who have a sneaking suspicion that that absence is probably due to the fact it was all complete bks in the first place.

[dromong]

jjlynn27 said:

sidicks said:

What's funny?

Not you anyway, humour bypass.

[Eddie Strohacker]

dro said:

Not you anyway, humour bypass.

Pahahahaha! I thought you only posted here to point out what a waste of time it is posting here?!!

[captain_cynic]

Ridgemont said:

There is a little scepticism abroad that the continued absence of any vote related recession is due to Carney’s Amazing Plan (TM). There are plenty on the leave side who have a sneaking suspicion that that absence is probably due to the fact it was all complete bks in the first place.

Meanwhile, the leave side have only said that things aren't as bad as they could have been due to an entirely unexpected and unrelated event. The result is still bad, just not as bad. If not for Brexit we'd be having a boom right now.

Still waiting for them to tell us the benefits of Brexit... Any day now.

Hey, but things aren't as horrible as they could be, Yay Brexit.

[Ridgemont]

captain_cynic said:

Ridgemont said:

There is a little scepticism abroad that the continued absence of any vote related recession is due to Carney’s Amazing Plan (TM). There are plenty on the leave side who have a sneaking suspicion that that absence is probably due to the fact it was all complete bks in the first place.

Meanwhile, the leave side have only said that things aren't as bad as they could have been due to an entirely unexpected and unrelated event. The result is still bad, just not as bad. If not for Brexit we'd be having a boom right now.

Still waiting for them to tell us the benefits of Brexit... Any day now.

Hey, but things aren't as horrible as they could be, Yay Brexit.

It's worth reading that Guardian link for the forecasts. *Despite* Carney's amazing plan he was forecasting 0.8% growth. Today it turned out to be 1.8%. Back last September the Bank of France revised its forecast of the French economy to 1.7% largely driven by more government spending:

https://www.cnbc.com/2017/09/25/reuters-america-ba...

I just refer to France mainly for the context of today's numbers given the relative similarity in the size of the economies, with Brexit appearing to be a catastrophic differential...

[sidicks]

captain_cynic said:

Meanwhile, the leave side have only said that things aren't as bad as they could have been due to an entirely unexpected and unrelated event. The result is still bad, just not as bad. If not for Brexit we'd be having a boom right now.

[b]Still waiting for them to tell us the benefits of Brexit... Any day now.
[/b]

Hey, but things aren't as horrible as they could be, Yay Brexit.

My guess is that you’ll never understand.

[PurpleMoonlight]

Ridgemont said:

It's worth reading that Guardian link for the forecasts. *Despite* Carney's amazing plan he was forecasting 0.8% growth. Today it turned out to be 1.8%.

So the BoE actions turned out to be better for then economy than they projected, and you see that as a bad thing?

[dromong]

Eddie Strohacker said:

dro said:

Not you anyway, humour bypass.

Pahahahaha! I thought you only posted here to point out what a waste of time it is posting here?!!

Usually, but just like the hundreds of "same old story" posts you have relentlessly plied the thread with, I have come to the realisation that nobody is actually listening .

[Ridgemont]

PurpleMoonlight said:

Ridgemont said:

It's worth reading that Guardian link for the forecasts. *Despite* Carney's amazing plan he was forecasting 0.8% growth. Today it turned out to be 1.8%.

So the BoE actions turned out to be better for then economy than they projected, and you see that as a bad thing?

As I noted I suspect that BoE actions were largely immaterial. To be fair back when they dropped the rate I think I did post on the thread that I thought that that may be something that they would possibly come to regret given the overall inflation picture. So I'll put my hand up and say that the effect wasn't as bad as some had worried about (and it's worth 3 members of the MPC objected to the reduction at the time for the same reason). But I really do think the overall impact of Carney's amazing plan was probably minimal. 0.25% and £60 bn in QE? pocket change really. The real story is that the forecasts were all bunce.