Thursday, April 12, 2018

22 months after Brexit all the "geniuses" are shocked that the U.K. economy is fine. It's what I said at the time.

Before and immediately following the Brexit vote back in 2016, I said that the U.K. economy would not be harmed and that the pound would recoup all of its losses if selling were to happen.

In contrast, all of the "geniuses" i.e. the economists, market pundits, hedge fund idiots and especially, the entirety of the business and financial media, said the opposite. They were all wrong. I was right.

Here are some videos I made at the time.

"Brexit and the British pound."

"British pound will recoup all post-Brexit losses"

"I told you: Whatever the initial reaction to Brexit was it would be wrong."

"Buy signal. Jim Rogers says Brexit will create worst bear market."

MMT understanding. Market savvy. Mental Game.


Matt Franko said...

F 'em all Mike!!!! F-ing morons!!!

Kaivey said...

I was always very pro Europe and I loved it's social democracy, but it went neoliberal and my liberal friends hadn't realised.

The European elite were destroying the continent - look what they did to Greece. All the my favourite economists, like Steve Keen, Bill Mitchell, and Micheal Hudson (and PCR, but he says he's responsible for Reaganomics, so I have my doubts) made good arguments to get out, so I voted out. My friends thought I was a traitor but I couldn't convince them otherwise.

But Britain in or Britain out, it's all neoliberal, anyway. But look at France with Macron, it's a joke, he's trying to destroy what's left of France's social democracy. He calls it modernization, but it's going backwards. There's no democracy, the French people don't want this.

Ralph Musgrave said...

Could be that the real effect of Brexit comes when new tariff arrangements kick in.

andy blatchford said...

It isn't about tariffs Ralph, the problem becomes when the non tariff barriers go up (tariffs nowadays are inconsequential).
The infrastructure is just not in place, Border Inspection Posts are required both sides and in the main through route Dover/Calais does not have them (The BIP on the French side is at Dunkirk).

The list of trade that gets hit us huge but to pick a few out that really get hit are Horse Racing, Formula1, seafood exports from the UK, live animals, chemicals (yes chemicals as will be out of REACH), Pharma etc etc. It's a disaster the Tories are complete and utter morons,

andy blatchford said...

Oh and Ralph (as this is local to you) there was a rumour knocking around today (only a rumour though but did get as high as the cabinet office) that Nissan nowv have the Sunderland plant as a planned closure ... I think maybe premature but i wouldn't be surprised with the Japanese.

Matt Franko said...

Andy will the Scotch still be able to get out to US?

andy blatchford said...

You should be ok there Matt, no agreements that disappear on scotch.