Thursday 12 January 2017

MARK CARNEY : EX-EXPERT.

A few short months ago, a variety of important people made great play of the horrors that would follow if we, the people, dared to vote to leave the European Union. David Cameron, George Osborne, Barack Obama, John Major, Tony Blair, Gordon Brown, assorted senior European political figures, the head of the International Monetary Fund, loads of others AND the single most important financial 'expert' in this country, the Governor of the Bank of England, Mark Carney, all told us that all hell would break lose if we were stupid enough to ignore their advice that we should stay in the egregious and stifling clutches of the EU.

Of course, all of these self-proclaimed 'experts' have now been proved to have been utterly wrong. One actually has to wonder if they weren't simply wrong but actively tried to distort the facts and lied to the people, but we'll let that pass. Cameron and Osborne tried to sell us down the river with a meaningless agreement, Obama threatened our trading status with the USA and others just said that we would suffer financial meltdown. It's all proved to be nonsense.

Yesterday, Mark Carney did an almost total 'volte face'. He said that Brexit was 'no longer' the biggest domestic risk to the UK's economy, though he did claim that credit for this is due to him and the actions of the Bank of England in the aftermath of the referendum vote; ha-ha.. He also indicated that the Bank is 'very likely' to revise its previous economic forecasts very soon, predicting a much better outlook for the UK than previously suggested. Carney said that he was 'surprised' that his earlier forecasts had not come true, and now sees Brexit as being much more of a threat to the EU than to the UK.

Let us be clear. This gargantuan figure of the financial world, this superman and unchallengeable expert was completely wrong in forecasts that he made less than 9 months ago; not only that, but the failure of his forecasts caused him surprise. He now proposes to issue a new raft of forecasts, though why anyone should believe them escapes me, and has also taken it on himself to predict that the EU's financial stability is now much more in question than the UK's.

God save us from experts ! The one thing that is most clear is that we should ignore them all, especially those who are so certain of their rectitude that they threaten us with Armageddon if we don't do as we're told.

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