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Post by Baron von Lotsov on May 9, 2024 12:24:20 GMT
The governor of the Bank of England says it looks like there will be some growth now. February's PMI stood at 53.3 and it is likely interest rates can come down as we see cheaper energy create a deflationary effect.
From a political point of view, such a recovery will make it hard to argue at the next general election that Brexit was a disaster and will make Starmer's claim that Rishi has no idea how to run the country look a bit too much like politics than fact.
Actually to be frank with you, the whole Brexit economic argument I had before and during leaving was that there would be disruption and we would pay a price to reorganise supply chains and procedures, but they would be relatively short-lived, like a few years at most. So we might well see that period draw to a close so we can get a better view of how normal economic activity looks outside of the EU. What is so far clear is there was nothing disastrous. We're not looking like Argentina are we?
By the way, the video below is a US publication, so it is good in that it is taking a neutral view. (not blowing its own trumpet like)
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Post by dodgydave on May 9, 2024 12:51:00 GMT
The Tories neither caused the problems or fixed them.
We had two massive financial shock in quick succession, ie the pandemic and the war started in Ukraine, the global system is just returning to normal.
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Post by Baron von Lotsov on May 9, 2024 13:18:48 GMT
The Tories neither caused the problems or fixed them. We had two massive financial shock in quick succession, ie the pandemic and the war started in Ukraine, the global system is just returning to normal. Sure, and that is obvious to anyone with any intelligence. The thing is it has not damaged us beyond repair. It could be said we sometimes need a disaster to root out all the shitty low productivity businesses. They have gone now and the ones remaining are run by shrewd people who had a good enough business model that they were able to ride out these problems. It is testament to the hard works and sensible decisions of those who run and work the industry.
So now we have this news it has exposed a lot of lies and the one most often repeated is with Brexit things can only get worse until we rejoin. It will be reassuring to those who kept their nerve and believed Brexit would work. In the next few years we will see how that pans out as we establish better trading relations with the wider world and are seen as an independent trader. What I think we will find is we will be able to adapt much faster to the changing world than the EU bloc can because everything has to be passed up a large bureaucracy before it is implemented. (A tighter control loop)
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