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So the UK is finished says Theresa Mayhem


fatshaft

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On 3/30/2019 at 11:11 PM, Freggyragh said:

Mervyn King was Governor of the Bank of England for the five years leading up to crisis and ignored all warnings. His governance cost the U.K. economy £1T and oversaw the nationalisation of RBS. Whilst wringing his hands about banker bonuses in the aftermath he was a big supporter of austerity. He should really never open his mouth in public ever again, but he has no shame and is, needless to say, a brexiter.

What warnings? The conventional wisdom pre-crisis was that boom and bust was history and the bonanza would just continue. Nobody saw the credit bubble was about to burst aside from a couple of outriders such as Roubini. It was a bit like the flawed conventional wisdom today about the EU being a benign bastion of stability rather than the complete opposite.

The signs were universally ignored then too, so it's a little harsh to single King out for special opprobrium. He did at least warn about the destruction of moral hazard in the wholesale bailing out of the banks. The government would have been better advised to have stood behind the account holders and let the institutions themselves fail. I say this even though it would have cost me (even more) money as a shareholder in some of the banks.

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nick throwing a hissy fit last night because he didn't get his way......

typical remoaner........

despite saying he was going to call a by-election he's changed his mind......

if he joins the tigs will they now be known as cuk and boles.......

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1 minute ago, Declan said:

Interesting the TIGs, Libdems and Nats didn't vote for the Common Market 2.0 or Customs Union. What's that about?

they don't want any type of exit........

it highlights that no compromise is possible with remoans.......

for nearly 3 years the snp have said they would accept sm/cu deal......

if may had of brought that back they would of done the same.......

only 2 things left now- no agreement exit or a ge........

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12 hours ago, woolley said:

What warnings? The conventional wisdom pre-crisis was that boom and bust was history and the bonanza would just continue. Nobody saw the credit bubble was about to burst aside from a couple of outriders such as Roubini. It was a bit like the flawed conventional wisdom today about the EU being a benign bastion of stability rather than the complete opposite.

The signs were universally ignored then too, so it's a little harsh to single King out for special opprobrium. He did at least warn about the destruction of moral hazard in the wholesale bailing out of the banks. The government would have been better advised to have stood behind the account holders and let the institutions themselves fail. I say this even though it would have cost me (even more) money as a shareholder in some of the banks.

Oh yes, lots of people, and lots of gullible leaders believed in the bubble. It had all the classic signs, but Carney knew:

https://www.google.com/amp/s/business.financialpost.com/business-insider/two-moves-during-the-crisis-show-why-mark-carney-is-considered-one-of-the-shrewdest-central-bankers-in-the-world/amp

 

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19 eu member states =  one uk economy........

ouch........

still going well for ze germans........

Quote

The latest manufacturing PMI figures are out and it’s more grim reading for Merkel and Macron with the Eurozone’s index falling to 47.5 in March – firmly in contraction territory and the lowest level since April 2013. Germany is rapidly becoming the sick man of Europe, its reading of 44.1 is the worst since the crisis days of 2012…

Meanwhile the UK’s own manufacturing index has surged to a 14-month high of 55.1, coming in far ahead of the forecast of 51.2. The UK could even consider giving the EU a trade deal, if they ask nicely…

https://order-order.com/2019/04/01/uk-manufacturing-growth-smashes-expectations-eurozone-worst-6-years/

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