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Post by Deleted on May 13, 2016 14:06:27 GMT
I was wondering this yesterday when Mark Carney entered the BREXIT DEBATE and of course we have Christine Lagarde from the IMF today saying something similar but for the posts sake lets stick with Mark Carney. Mark Carney is recognised as someone at the Top of the Tree when it comes to economics and fiscal prudence and is credited with saving the Canadian Economy from recession by his policies and stewardship.The Bank of England was of course cast free from Government Interference by New Labour and Mark Carney successfully head hunted to be chief of the BOE. Why is it then,when he predicts financial turmoil upon a successful Brexit Vote that large sections of the country ignore him and give him the same credence as a mate down the pub perhaps even less,pay him no heed whatsoever. This is indeed a strange situation,if a Doctor advised you that your illness was terminal,or a lawyer that you were going to prison then you would not only heed their advice but may be even grateful for their candour,it is strange don't you think ?
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Post by macwolfelee on May 13, 2016 17:01:31 GMT
I'm a bit puzzled to say the least about your attitude to this. You are saying that Mark Carney should be listened to as an expert, and his advice taken?
Well, I agree with him. But have you changed your mind?
Or have I misunderstood you? No, I've read your post again very carefully, and can only conclude that you think Mr Carney should be listened to when he predicts that financial instability and recession will follow if the UK votes to leave the EU.
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Post by Mr Stabby on May 13, 2016 17:05:25 GMT
Mark Carney is a member of the controlling class, and will say whatever is in the interest of the controlling class. Or did you really think he has the little guy's interests at heart?
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Post by macwolfelee on May 13, 2016 17:41:32 GMT
Mark Carney is a member of the controlling class, and will say whatever is in the interest of the controlling class. Or did you really think he has the little guy's interests at heart? I'm not interested in what class he's a member of. I'm just puzzled about CDS's post.
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Post by Mr Stabby on May 13, 2016 17:47:28 GMT
I think cds has already made his mind up and is casting around for viewpoints which support it. Quite why "the man on the Clapham omnibus" thinks that the Governor of the Bank of England is in his corner is beyond me, but then I suppose it takes all sorts to make a world.
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Post by Higgs on May 14, 2016 7:50:19 GMT
Mark Carney's predictions aren't infallible. I seem to remember that recently he had predicted a change to interest rates, it never materialised.
What will happen if we leave the EU - We're heading for WW III; a once in every 23 million years asteroid will hit the planet; Margaret Thatcher will rise from the dead. If we leave the EU, we will have possibly tens years of financial struggle. If we stay in the EU, we will possibly have ten years of financial struggle.
Angela Merkel says what's what, in the EU; "UK, who?"
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Post by peterboat on May 14, 2016 10:11:33 GMT
The EU just needs our money!!
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Post by Phil on May 14, 2016 10:44:25 GMT
I was wondering this yesterday when Mark Carney entered the BREXIT DEBATE and of course we have Christine Lagarde from the IMF today saying something similar but for the posts sake lets stick with Mark Carney. Mark Carney is recognised as someone at the Top of the Tree when it comes to economics and fiscal prudence and is credited with saving the Canadian Economy from recession by his policies and stewardship.The Bank of England was of course cast free from Government Interference by New Labour and Mark Carney successfully head hunted to be chief of the BOE. Why is it then,when he predicts financial turmoil upon a successful Brexit Vote that large sections of the country ignore him and give him the same credence as a mate down the pub perhaps even less,pay him no heed whatsoever. This is indeed a strange situation,if a Doctor advised you that your illness was terminal,or a lawyer that you were going to prison then you would not only heed their advice but may be even grateful for their candour,it is strange don't you think ? I assume this is the same Mark Carney who six months ago stated in a news conference that interest rate rises would come into sharp relief ( bank speak for go up ) at the start of 2016 and then had to row back significantly from that position because they got it wrong, very wrong. Strange how all these so called experts are able to predict things so wrongly then conveniently forget about the fact they were so wrong a few months later. Just as all the great and the good who predicted disaster if we did not join the euro, Mandelson, Ashdown etc.
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Post by sabcat on May 14, 2016 12:01:36 GMT
I'm not sure I agree with the premise of the question. Who's ignoring Carney? I for one am not and I think he's right. The very fact of a referendum has introduced uncertainty and that has had a material affect on economic activity and a vote for Brexit will, in the short term, introduce a whole lot more uncertainty and a "technical recession" isn't an unreasonable prediction to make, who would bet against it?
I'm still voting for Brexit, it's not a vote about the last 2 quarters of this year or even the next 5 years. The UK economy is already slowing down (manufacturing is already in recession) and the outlook for services is bleak, a recession a very real possibility anyway. Carney's speech at the G20 in Shanghai in February opened with "The global economy risks becoming trapped in a low growth, low inflation, low interest rate equilibrium. For the past seven years, growth has serially disappointedβsometimes spectacularly, as in the depths of the global financial and euro crises; more often than not grindingly as past debts weigh on activity" the underlying issues of the global economy are weighing on growth here and the solutions to it - at least the solutions that I believe make the most sense in the form of linked in monetary/fiscal/industrial policies are impossible within the constraints of the various EU treaties and directives.
So yeah, Carney's on the money (get it?) but his focus is, necessarily, narrow.
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Post by Albion on May 14, 2016 13:21:53 GMT
I think Sabcat has it about right. The whole world economy isn't at all brilliant and then, on top of that for us, a possible Brexit is causing some more worry and uncertainty. However, I still think that Carney's prediction of some turmoil for the UK economy is correct if we vote to leave but I think that is a price worth paying. There will be some immediate downturn but after a while that should settle and we will get back onto a stable footing. We are a reasonably significant world economy after all despite some worrying aspects about national debt and borrowing etc. An initial downturn, even additional travel restrictions to/from France where I am now on my boat, the outbreak of the plague in the UK and all other predictions of doom are a price worth paying to retrieve our independence and be able to handle our own affairs. I still fear that it will be a narrow Remain victory but hope and against hope that I will be proved wrong. Roger
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Post by Deleted on May 14, 2016 14:18:44 GMT
I'm not sure I agree with the premise of the question. Who's ignoring Carney? I for one am not and I think he's right. The very fact of a referendum has introduced uncertainty and that has had a material affect on economic activity and a vote for Brexit will, in the short term, introduce a whole lot more uncertainty and a "technical recession" isn't an unreasonable prediction to make, who would bet against it? I'm still voting for Brexit, it's not a vote about the last 2 quarters of this year or even the next 5 years. The UK economy is already slowing down (manufacturing is already in recession) and the outlook for services is bleak, a recession a very real possibility anyway. Carney's speech at the G20 in Shanghai in February opened with "The global economy risks becoming trapped in a low growth, low inflation, low interest rate equilibrium. For the past seven years, growth has serially disappointedβsometimes spectacularly, as in the depths of the global financial and euro crises; more often than not grindingly as past debts weigh on activity" the underlying issues of the global economy are weighing on growth here and the solutions to it - at least the solutions that I believe make the most sense in the form of linked in monetary/fiscal/industrial policies are impossible within the constraints of the various EU treaties and directives. So yeah, Carney's on the money (get it?) but his focus is, necessarily, narrow. People are certainly ignoring his advice in the sense they are still voting for Brexit.The post is an attempt to dry and have some insight as to why that is? is he distrusted ? are we intent on a Scorched Earth Policy no matter the consequences ? do the financial institutions have any credibility ?
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Post by Deleted on May 14, 2016 14:38:38 GMT
I'm a bit puzzled to say the least about your attitude to this. You are saying that Mark Carney should be listened to as an expert, and his advice taken? Well, I agree with him. But have you changed your mind? Or have I misunderstood you? No, I've read your post again very carefully, and can only conclude that you think Mr Carney should be listened to when he predicts that financial instability and recession will follow if the UK votes to leave the EU. Sorry for any lack of clarity,my position hasn't changed though I fear you read too much into my post. I was just drawing comparisons regarding professionals opinions and the reasons we ignore their advice. I was inviting comment as to why that might be,is it the message or the messenger we distrust ? is it a case of "He would say that anyway" ? or is it the "Trump Option" a kick up the arse to the Establishment on account of their previous conduct?
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Post by Deleted on May 14, 2016 14:41:42 GMT
I was wondering this yesterday when Mark Carney entered the BREXIT DEBATE and of course we have Christine Lagarde from the IMF today saying something similar but for the posts sake lets stick with Mark Carney. Mark Carney is recognised as someone at the Top of the Tree when it comes to economics and fiscal prudence and is credited with saving the Canadian Economy from recession by his policies and stewardship.The Bank of England was of course cast free from Government Interference by New Labour and Mark Carney successfully head hunted to be chief of the BOE. Why is it then,when he predicts financial turmoil upon a successful Brexit Vote that large sections of the country ignore him and give him the same credence as a mate down the pub perhaps even less,pay him no heed whatsoever. This is indeed a strange situation,if a Doctor advised you that your illness was terminal,or a lawyer that you were going to prison then you would not only heed their advice but may be even grateful for their candour,it is strange don't you think ? I assume this is the same Mark Carney who six months ago stated in a news conference that interest rate rises would come into sharp relief ( bank speak for go up ) at the start of 2016 and then had to row back significantly from that position because they got it wrong, very wrong. Strange how all these so called experts are able to predict things so wrongly then conveniently forget about the fact they were so wrong a few months later. Just as all the great and the good who predicted disaster if we did not join the euro, Mandelson, Ashdown etc. For you then Carney has no credibility ?
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Post by Saltysplash on May 14, 2016 14:57:26 GMT
I think its a severe case of, yes things could happen, and yes things might not happen, yes things could be difficult for a while but will get better and yes things could be difficult for eternity. The big word here is COULD and nobody really knows. For me the big financial institutions are all linked into their own vested interests and will tell us it could be doom and gloom. Its a risk im willing to take because the risks to me of remaining are far greater.
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Post by Deleted on May 14, 2016 15:13:51 GMT
I think its a severe case of, yes things could happen, and yes things might not happen, yes things could be difficult for a while but will get better and yes things could be difficult for eternity. The big word here is COULD and nobody really knows. For me the big financial institutions are all linked into their own vested interests and will tell us it could be doom and gloom. Its a risk im willing to take because the risks to me of remaining are far greater. Its great that some Englishmen think like you,confident about the future and our capabilities in dealing with it
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