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Bank of England saying no deal Brexit is an 8% hit on business. #******Business

https://amp.theguardian.com/politics/2020/nov/23/no-deal-brexit-to-cost-more-than-covid-bank-of-england-governor-says

 

If this happens, hanging, drawing and quartering will be too good for Boris.

 

Edited by Mikhail Liebenstein
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I'm actually less bothered by the 8% lower GDP in ten years time than I am the short term disruption. 

Don't get me wrong; there's precious little GDP growth going on as it is so I presume 8% is going to mean basically no progress at allbut then what's new? There's been ****** all progress the last ten years as it is, what's another lost decade?

It's the "short term disruption" that's been completely overlooked as a minor detail that's really going to mess us up. Potentially months of on/off food shortages, extended youth unemployment, recriminations, blame, loss of prestige on the wotld stage. This is going to scar the psyche of this country for decades and leave us tying ourselves up in knots over some pointless red/blue, left/right culture war just like our pals over the pond. 

Total ******ing waste of time. Just hope it was worth it for the minority of cranks who are excited about "sovereignty" (whatever the ****** that means). 

 

 

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Bank of England saying no deal Brexit is an 8% hit on business.

What on earth does that even mean?

If the Bank of England is "saying" this - then it must be interpreted in the context of the BoE mandate.

The BoE has no mandate to require business to be profitable, or for any GDP target, or revenue target for businesses.  It doesn't even have a mandate to require businesses (other than banks) to avoid bankruptcy.

Edited by A.steve
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The Tory Eton filth born with a silver spoon in their gobs who are responsible for this clusterf### don’t know the hard work and dedication goes into building a successful viable business. So they don’t give a f### about ruining them in a stroke.  They should be hanging from the lampposts. 

Oh dear Monsieur

How will we ever survive without the EU... Like we did before the 70's for a MILLENIUM 

Get some perspective, please...

Edited by Warlord
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What on earth does that even mean?

If the Bank of England is "saying" this - then it must be interpreted in the context of the BoE mandate.

The BoE has no mandate to require business to be profitable, or for any GDP target, or revenue target for businesses.  It doesn't even have a mandate to require businesses (other than banks) to avoid bankruptcy.

Amazingly, the BoE tries to model the economy so it has an idea what its policies might need to be. 

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Oh dear Monsieur

How will we ever survive without the EU... Like we did before the 70's for a MILLENIUM 

Get some perspective, please...

What a surprise. Trump guy is also a brexiter. Must be something about naive sheep. 

All you people ever had in the beginning was wishful thinking and it's still all you've got 4.5 years later. Really hope you enjoy whatever vague nonsense it is you hope to get out of all this, because noone else will. 

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What a surprise. Trump guy is also a brexiter. Must be something about naive sheep. 

All you people ever had in the beginning was wishful thinking and it's still all you've got 4.5 years later. Really hope you enjoy whatever vague nonsense it is you hope to get out of all this, because noone else will. 

Here's my prediction:

Everything will be fine... while the drama queens continue to scream

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Here's my prediction:

Everything will be fine... while the drama queens continue to scream

If there isn't a deal or extension in a matter of days, it's going to be a bumpy ride for a few months at least. Sure, we might get to a point where it's "fine" eventually but at what cost and to what end? 

As a dad to two young children I don't want "fine" anyway. I want "excellent", "prosperous". We're ditching that for...... what exactly? Seriously, what even is the point of all this anymore?

Genuine question; what are you hoping to get out of all this? How will it benefit us? 

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Large increase in poverty, unemployment. Higher inflation, interest rates. Fall in house prices.

Back to the 1970's

I don't see how "Bank of England saying no deal Brexit is an 8% hit on business." equates to the above.

I note, also, that in the 1970s, the price of just-about everything (including houses) rose considerably.

If your expectations are right, however, at least 3 of your predictions can be considered optimistic.

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I'm actually less bothered by the 8% lower GDP in ten years time than I am the short term disruption. 

 that's been completely overlooked as a minor detail that's really going to mess us up. Potentially months of on/off food shortages,

 

 

What food shortages? Certainly not on staples, only fancy foods we have got used to eating out of season and import from the EU. 

We can import them from elsewhere, maybe cheaper. Wont take long. 

Stop being a drama queen. British Beef and lamb are about to get a lot cheaper and UK farmers only have one customer, us. 

Until they realise the USA "Grass Fed" middle class will pay more than we will, then they will export it all to the USA for higher prices than UK / EU pay.  

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That’s what the Brexiters wanted though isn’t it?

”Everything was great back in the 70s before we joined the EU, but don’t vote for that Jeremy Corbyn, or he’ll take us back to the 70s”

Or something.

Brexit gives the UK massive opportunities. Nobody is looking back to the '70s. A better alignment than the EU is the CANZUK free trade area.

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What food shortages? Certainly not on staples, only fancy foods we have got used to eating out of season and import from the EU. 

We can import them from elsewhere, maybe cheaper. Wont take long. 

Stop being a drama queen. British Beef and lamb are about to get a lot cheaper and UK farmers only have one customer, us. 

Until they realise the USA "Grass Fed" middle class will pay more than we will, then they will export it all to the USA for higher prices than UK / EU pay.  

EU tariffs make food expensive. It's a protectionist racket.

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