Oh no!!!! The apocalypse is upon us, recession, mass unemployment, businesses decamping en masse to Europe and concentration camps are being set up across the UK for anyone not quite white enough.
O hang on….wait one…..that’s a load of old bull….a scoop of bull that you heard first on the BBC.
Great disappointment in the corridors of the BBC today as the British economy defies their most hopeful dark predictions of doom and disaster and a return to the 30’s in all its scenarios as the Nazis were predicted to be marching across the British Isles by now after Brexit.
The BBC hasn’t given up the fight though as it does its best to talk down the economic good news and to dismiss the Nissan decision to invest once again in the UK as a ‘dodgy deal’.
This is an interesting BBC take on the news that the economy is still growing…
Brexit supporters will take these figures as a sign that warnings about the economic costs of voting to leave the EU were nothing more than scaremongering. Remain supporters will argue that they were warning about potential damage over a period of several years. They say that only prompt action by the Bank of England saved deeper damage to the economy and that worse is to come.
Remain alarmists were not merely predicting damage over a period of several years, they were predicting instant and ruinous economic armageddon on a Brexit vote. The Treasury, supposedly neutral and ‘expert’, but in fact merely parroting what its Remain boss wanted it to say, predicted a possible -1% figure for GDP in the 3rd Quarter and Osborne et al were predicting instant recession….from Guido…
David Cameron: “The job you do, the home you live in are at risk. The shock to our economy after leaving Europe would tip the country into recession.”
George Osborne: “A vote to leave would tip our economy into year-long recession with at least 500,000 UK jobs lost”
Treasury: “UK economy would fall into recession”, predicted 2016 Q3 growth between -0.1% and -1%
IMF: “Brexit would trigger recession”, predicted -0.3% GDP for Q3
Bank of England: Mark Carney said “It would be likely to have a negative impact in the short term… I certainly think that would increase the risk of recession.”
OECD: Short term impact of -1.25% GDP
Curious how the BBC, so keen to quote those ‘expert’ voices before the referendum, now have suddenly forgotten all that massive scaremongering.
The BBC is eager to try and persuade us that manufacturing and ‘real’ industry outside the Services is struggling and indeed on 5Live as their business reporter travelled around the North talking to businesses we were told that this GDP figure was all down to Services and that manufacturing was slumping. However the interview that followed completely demolished that so-called analysis as the businessman said that business in the area was ‘very vibrant’ and that they were exceptionally busy. He suggested the figures were wrong and out of date and too low and that the alarmism of the ‘experts’ in the run-up to the vote had put a brake on things as confidence took a hit but that was over now…the interview ended rapidly there. Just the norm for BBC business analysis….how many times has the BBC told us businesses were in dire straits only for call after call to say they were not only keeping ther heads above water but that they were thriving?
Listen to any BBC ‘debate’ on Brexit and you will almost certainly hear an attack on Gove for his scepticism about the ‘experts’ who were supposedly doing their professional duty and giving us an accurate and reasoned economic forecast…and yet the truth is he was right…the ‘experts’ were wildly off mark and one reason for that is that they were peddling personal and politicised views dressed as impartial analysis.
Where is the BBC’s take down of these experts? Where was the BBC’s take down of those experts during the run up to the vote? There was none…the BBC fully accepted the ‘experts’ analysis because that’s what the BBC itself wanted to believe and wanted you to believe.
Fraser Nelson in the Spectator does ask the big question….
The question, now, is: why did so many intelligent economic analysts and commentators get it so wrong? How did some of the finest minds in Britain get themselves worked up into such a state that they predicted an immediate recession?
There’s a case for the Treasury, and other economists, to work out what happened here. The behaviour during the Brexit campaign does undermine trust in government. Economic forecasts are supposed to be dispassionate. Today’s publication of the Q3 data might be a good time to ask what went wrong.
The answer is simple….what went wrong was that a hugely powerful group of pro-EU people and institutions were allowed to peddle a massive lie…and the BBC, amongst others, allowed them to do it…not just allowed them to do it but actually participated in spreading the lie, adding to it, spinning it into an untruth so big that they thought no-one could dream of questioning it.
Once again the BBC has willingly allowed itself to be hijacked and used to undermine democracy and do the bidding of the supposed elite, vested interests….so often the ones that the BBC attacks when it is in Labour supporting mode but clearly in desperate times one’s enemy’s enemies are your friends however unpleasant they may be…and the BBC teamed up with nasty Tory politicians, big business and bankers to shore up the corrupt and anti-democratic EU.
The BBC is the real danger to Britain, Democracy, society, culture and our future.
Schadenfreude, what a great word.
If there is a government guarantee on tariffs to Nissan, so be it.
Presumably if we tax imports from the EU to an equivalent level, that they tax our exports that will produce a surplus of tax in our favour to use to subsidise our exporters’ tarrifs.
If we were in the EU such subsidy would be “illegal”, but outside the government can do what they want within WTO rules, and we could employ a Frenchman to advise on how to get round them.
Effectively outside the EU our politicians can do whatever deal they like, subject to submitting themselves to regular (re)election for approval.
Its called sovereignty. My number 1 reason for being a leave supporter!
I wonder if all these doomsayers, and particularly the BBC, ever get fed up of being totally wrong ALL the time?
Seemingly not!
The trouble is, only a minority have woken up to the fact that they are – the rest see them as upholders of truth and impartiality.
Imagine if we where a hideously white English speaking nation surrounded by the sea, with the Queen as head of state and with a union jack in our flag, a nation independent from the European Union for many years and with a points based Immigration control system. I bet we would have a gross domestic product (at purchasing power parity) per capita, that was 11 percent higher than at present.
This is actually a “fact by proxy” called Australia.
This proves that “Remainers” must be like children sticking to the dead corpse of a parent.
That growth for the quarter was 0.5% is quite stunning.
I think I and most people were stunned by the referendum result and those on both sides took an extremely deep breath and wondered what would happen.
I suspect there was a two or three week period where people did not spend what they would otherwise have, before realising that life goes on so let’s get on with it. So the figure is probably lower than it might have been, but is still one of the best in the “advanced” countries.
“why did so many intelligent economic analysts and commentators get it so wrong?”
Because they where on the badly managed taxpayer funded EU gravy train, While independent economic analysts and commentators where censored by the BBC because they where anti-EU.
As for Intelligent, I quote from the latest Mensa Magazine, page 16:
“As the European Union is indeed a badly managed federation, thankfully the UK has taken the first step towards its ultimate breakup”
Also, its the same with Climate Change. The vested interests are Environmental Organisations, while independent scientists are kept off the BBC, on the advise of Environmental activists.
I drove home listening to PM with an enormous smile on my face as the BBC wallowed in self-pitiful wailing.
Favourite moments included Professor David Bailey telling us how bad it was that the Government might have done a deal with Nissan. Quickly followed by the introduction of “economics expert” George Magnus who starts his piece with, “well it would be churlish to say that it was not good news” before telling us that it was bad news. Classic. Then when asked about the GDP numbers he said, “well again it’s unquestionably good news” before telling us that it’s bad news. Comedy gold.
Unfortunately, it might be comedy gold to those of us no longer drinking the BBC Kool-Aid, but it’s obvious biased propaganda for the rest.
Is it me or are bBBC really scraping the barrel to get comments from economic experts to support their agenda? Never heard of IHS Global Insights and Berenberg before. Won’t be long before they ask some Nigerian 419ers for their insight into Brexit doom and gloom.
http://www.bbc.co.uk/news/business-37786467
Absolutely. About a month after the Brexit vote, when the mainstream economic data was not indicating economic disaster the BBC “experts” were quick to point out that it was too early to measure any effect. Then, one morning as I drove to work I heard Dominic O’Connell introduce some pessimistic research about business confidence with the claims “perhaps we are beginning to see the first real evidence about the impact of Brexit”
I thought it was odd because I had not previously heard of this research, or the organisation that produced it. When I got to my desk I googled it and could find nothing. I googled again later and still nothing, not from that day or from any time previously, not even on the BBC site.
I remember thinking that this was clearly an effort to manipulate UK confidence downwards, with ANY data that was available. An act of treason surely.
just how many cars do nissan really sell into europe, last time i went to italy everyone there was driving a fiat
and even if there were to be tarriffs, that would give them a an advantage in the british market
Total sales in Europe in 2015
About 450,000 to the EU excl the UK
175,000 in the UK
125,000 in Russia
Nissan UK makes about 500,000 cars a year, so taking out all the UK and Russian cars, at least 200,000 go to the EU, but the total could be as much as 325,000 if the Russian cars are actually made in Japan.
I don’t know either but Sky’s Ed Conway (who I rate) said on their news last night that we export more cars ex-EU than to it. In the background in Sunderland docks was a ship bound for China.
John Redwood has the right idea here –
http://commentcentral.co.uk/bring-on-the-eu-trade-war/
“I trust the UK based motor industry is gearing up production to meet the extra UK demand that is likely. With continental cars already around 15 per cent dearer thanks to the pound, another 10 per cent on top from a car tariff should mean many more people will see the advantages of a UK built car. On the last two occasions when I have traded in my older UK vehicle for a new one built in the UK I have experienced a wait for the new car, showing they are already short of capacity. This is a great opportunity for the car makers which I expect them to exploit.
The figures show we are in major deficit with all the main continental countries on goods including the smaller ones like Austria, Finland, Slovakia, and the Czech Republic. Indeed, we only have a goods surplus with Croatia, Cyprus, Estonia, Greece and Malta, of around £0.5 bn in total from them compared to the overall deficit of £103 billion. The deficit with Germany alone is £37bn.
It is difficult to believe they would want to make these large exports to us dearer. If they do, then we will have the money to give in one form or another to our exporters as compensation for the tariffs they will pay. That will leave us several billions to the good. How would you like to spend that?”
My pop-corn consumption has shot up post Brexit. I’ve so enjoyed watching the BBC squirm.
Things…can only get better…
This was Labour’s anthem in 1997 when they won the GE.
The BBC swilled champagne that day.
How apt this anthem is now. And where are Labour? Last heard of in the Desert of Oblivion making squeaky noises.
Rotten to the core and as you say Alan, a real danger to what we imagine as a continuing democratic Britain. How those that ran the corporation 80 odd yrs ago would feel if they could view what is happening now to our Media. Very worryingly as we have allowed our nation to introduce some very unsavoury elements into our society, their aim is to destroy this great nation by foul means, starting with the Law & its forces that carry out the policing of such laws. We were illiegally seduced into the European Union by easily manipulated mechanisms, now subjected by the lawmaker’s private political army called the Police-aided by media such as the BBC. Yes I do feel most of the time a prisoner in a political community with little encouragement on the horizon for the future and in particular for those youngsters just begining their lives.
I’m struggling to find in among all this gloom the obviously superb performance figures of the EU states ?
“How those that ran the corporation 80 odd yrs ago would feel if they could view what is happening now to our Media. ”
A few years later than that George Orwell told them, but simplistic arrogant fools that they were (and still are) at Al Beeb, they thought he meant right-wingers not the illiberal crypto-commies which they had become.