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Brexit Referendum Brexit Referendum

11-29-2018 , 04:06 AM
LostOstrich is right. It's utterly useless
11-29-2018 , 04:41 AM
11-29-2018 , 05:48 AM
https://www.bbc.co.uk/news/business-46377309
Quote:
Bank warns no-deal could see UK sink into recession

A no-deal Brexit could send the pound plunging and trigger a worse recession than the financial crisis, the Bank of England has warned.


It said the UK economy could shrink by 8% in the immediate aftermath if there was no transition period, while house prices could fall by almost a third.

The Bank of England also warned the pound could fall by a quarter.
...
...This Bank's scenario is not what it expects to happen...
..."These are scenarios not forecasts. They illustrate what could happen not necessarily what is most likely to happen...
...The Bank of England does not give a probability of this happening...
Anyone want to discuss whether the BBC writes responsible headlines and lead paragraphs about Brexit 'expert' analysis?
11-29-2018 , 06:02 AM
I'll give it a go. What's your problem with headline and lead paragraph?
11-29-2018 , 06:47 AM
'Bank of England's predictions even more dire than the last ones (that didn't come even close to being true)' would be more accurate?


It's all the last gasp attempt to reinvigorate Project Fear.

I hope it gets even more hyperbolic - makes it easier to see right through it.
11-29-2018 , 07:00 AM
From what I can tell, what the Bank said here is probably not a problem.

As soon as they say 'could happen' they can imagine whatever they want. It's like a Christian saying their God could exist.

The BBC journalist has badly twisted that into a click-bait fear-mongering title and lead paragraph, knowing the body (with all those disclaimers) is read far less frequently than the top.

A better title would be "Bank generates a lot of ideas about conceivable scenarios, some of them look bad, but they are not saying they are likely"
11-29-2018 , 07:06 AM
Imagine if we got this from the financial press every time a commercial firm commissioned scenario analysis for risk management.

"Google warns nuclear war with Russia and China to happen in 2019!"

"BP warns oil will hit $500 in next 12 months"

and so on.
11-29-2018 , 07:07 AM
As far as I can tell the headline and lead paragraph appear to be factually correct.

The BoE warned that a no-deal / disruptive Brexit scenario would have rather dire consequences under their assumptions. At no point does BBC claim that this is a likely scenario.
11-29-2018 , 07:15 AM
Quote:
Originally Posted by Alexdb
Imagine if we got this from the financial press every time a commercial firm commissioned scenario analysis for risk management.

"Google warns nuclear war with Russia and China to happen in 2019!"

"BP warns oil will hit $500 in next 12 months"

and so on.
Nope, these are not close at all to the BBC headline you quoted. The BBC headline is conditional wrt a no-deal Brexit happening, and it does not state that this is a likely scenario. It's closer to this:
"WW3 would have catastrophic impact on efforts to curb climate change."

This does not imply a high likelihood for WW3 or the described scenario, just that IF WW3 happens THEN xyz is a likely consequence.
11-29-2018 , 07:27 AM
"BP warns $500 oil in next 12 months could sink UK into recession"

It's splitting hairs considering the impact the broad strokes are intended to have on the general readership.

Of course the Bank's analysis is circular, the BBC headline should at least be:

Quote:
Bank warns (a calamitous version of) no-deal could see UK sink into recession
Which is the underlying implication, and is needed to line up with my example.

Or more literally:

Quote:
Bank warns that a no-deal that causes recession could see UK sink into recession
11-29-2018 , 07:44 AM
Quote:
Originally Posted by Alexdb
"BP warns $500 oil in next 12 months could sink UK into recession"
Yup, that's roughly right. And anyone reading this should be shrugging like "duh, obviously".

The BBC headline is not misleading or overly complicated, I don't think it's unreasonable to expect readers to parse that headline correctly.
11-29-2018 , 10:41 AM
May has assembled her top members of staff into a team craply titled "Project Vote", in order to try and get her deal through Parliament.

https://inews.co.uk/news/brexit/proj...xit-deal-vote/

No doubt all the "Government Forecasts" and so on that have been spewed out in the last 24 hours are coming from this team directly. The propaganda is strong with this one.

Apparently they know the deal will not pass on the 11th Dec, but they are working towards winning a second vote. Seems utterly ridiculous. No MP in their right minds would vote and give the EU control of when the UK can exit this deal going forward.
11-29-2018 , 11:23 AM
I got an email today from American Express. They informed me that due to Brexit they are transferring some of their services from American Express Services Europe Limited (a British entity) to American Express Europe S.A. (a Spanish entity). This is for a credit card issued by their German branch.
11-29-2018 , 11:46 AM
What is May trying to hide?

No 10 has refused to publish the full legal advice on her Brexit deal

Quote:
Downing Street has refused to commit to publishing the full legal advice given on the Brexit deal despite a unanimous resolution by the House of Commons
https://www.theguardian.com/politics...t-legal-advice

Surely this is a matter of such great national importance that the full text of the legal advice should be published.

There is speculation that the legal advice includes the fact that once we have signed up to the backstop, nothing could be done to remove it at any time in the future.

I think there is something in there that would show that, under close scrutiny, the detriment to the country would be huge if this deal is signed.

The EU was too happy and too swift to accept and ratify this deal for it to be any good for the UK.
11-29-2018 , 12:11 PM
Lol you voted to give the tories a blank cheque, gtf with your crying now cos it isn't the brexit you want. The Brexit that hits all our pockets much worse than whatever deal is happening at the moment.

No sympathy at all.

^^idle speculation from right wing sources about indefinite backstops or something else really scary. Lo****ingl.
11-29-2018 , 12:13 PM
Isn't it totally obvious? Would you sign a deal that meant you were doing exactly what the other party wants you to do until you agree a second deal that they have to also agree. And why would they ever agree to the second deal if it's not the same or better than deal one?
11-29-2018 , 12:17 PM
Best option has always been to remain, makes us all better off.

Pathetic it has got this far and the call for remaining is almost mute.
11-29-2018 , 12:17 PM
@sooted. I don't buy for a moment that the EU is trapping us in anything (or that they even like the backstop arrangement) but what do you think would happen if that's how it turned out and the UK made a unilateral decision to pull out?

The EU say 'hey you can't do that - we have a piece a paper'

We say 'byeee'

Then what?
11-29-2018 , 12:20 PM
Nothing will be obvious what's in the advice given to gov until it's been released.

Anything else is just bollocks.

Personally I think it should be released so they can show how much they really think it's gonna cost us all, not because of some made up crap about backstops. I'd like to know if the number is large enough will it make any difference to how people feel and how much of a FU they've given to the people they claim to represent.
11-29-2018 , 12:24 PM
I have to admit my feeling about no deal versus May deal is veering back and forth. No deal certainly seems by far and away the best long term approach, but even I accept there will be some chaos for a month or two at least if that happens. The deal seems much less disruptive, but it does feel like accepting a poisonous and democratically corrosive compromise for years to come.

Macron has already said he'd block stuff unless he gets access to the UK's natural resources, for example. Does anyone think that's a bluff?
11-29-2018 , 12:26 PM
Quote:
Originally Posted by martymc1
Lol you voted to give the tories a blank cheque, gtf with your crying now cos it isn't the brexit you want. The Brexit that hits all our pockets much worse than whatever deal is happening at the moment.
I voted remain and for labour in the last 2 ges and think this deal is the worst of all options now.

It is far too much to accept. When only the EU can end the agreement we are in an incredibly weak position forced to either succumb to the demands of all their members or stay in the arrangement sending money, keeping to their rules, doing as they say with no seat at the table.

They will take pound after pound after pound of flesh out of us for decades. Signing this deal would condemn the UK.

Either fully remaining or exiting with no deal would be miles better than this garbage. At least then with remaining we have a full seat at the table and would be in charge of if we left the EU. At this point if they refuse a better deal we should in turn refuse all payments to them and crash out with no deal.


Quote:
Originally Posted by chezlaw
@sooted. I don't buy for a moment that the EU is trapping us in anything (or that they even like the backstop arrangement) but what do you think would happen if that's how it turned out and the UK made a unilateral decision to pull out?

The EU say 'hey you can't do that - we have a piece a paper'

We say 'byeee'

Then what?
We are trapped in the arrangement, sending money and playing by their rules which we dont have a say in deciding, until all of their member states agree we can leave.
11-29-2018 , 12:28 PM
Quote:
Originally Posted by martymc1
Best option has always been to remain, makes us all better off.

Pathetic it has got this far and the call for remaining is almost mute.
The calls for a 2nd referendum are stronger than ever and that's down to the remain camp. I dont think it's been pathetic at all.

~zero politicians are just going to ignore the 1st referendum result so a 2nd vote of some sort has to be the way to go. Now Labour are almost there we have a decent chance.
11-29-2018 , 12:29 PM
Quote:
Originally Posted by chezlaw
@sooted. I don't buy for a moment that the EU is trapping us in anything (or that they even like the backstop arrangement) but what do you think would happen if that's how it turned out and the UK made a unilateral decision to pull out?

The EU say 'hey you can't do that - we have a piece a paper'

We say 'byeee'

Then what?

Why are they insisting on a backstop then? Why don't they commit to getting the deal done in the allotted time?
11-29-2018 , 12:30 PM
Quote:
Originally Posted by SootedPowa
We are trapped in the arrangement, sending money and playing by their rules which we dont have a say in deciding, until all of their member states agree we can leave.
You didn't address the question. How do they stop us leaving that arrangement if this trap of yours becomes a reality?
11-29-2018 , 12:34 PM
The second referendum containing an option to remain would be a total travesty of democracy. The only way back to the EU should be rejoining imo.

We had a referendum to leave the EU and that won - the only reason we haven't left is a bunch of useless (and possibly deliberately useless) bastards took the reins.

We leave the EU, then consider the options is the only fair way this can play out.

      
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