Originally posted by Ćock-a-Hoop
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I see the "Leave" victory as a positive development.
I follow the rationale of all the gloomy forecasts, but I consider most of them to be short-term outcomes, against which a release from EU shackles is well worth the price. It is a huge challenge for whoever takes over the helm in the UK, both now and after the next election - but Britain succeeded economically before 1973, and I believe that it has the resources, inventiveness and tenacity to overcome these obstacles and to thrive once more as a free-trade nation - coupled with low regulation and its own justice system. The horizons of our vision are so clouded by having to work for so many years under the Brussels yoke, that we appear tentative when given the opportunity to prove the worth of independence and, above all, self-determination.
Some refer to us having 'derided the so-called experts', and their 'well-intended advice'. These experts have a forecasting knack that has been proved wrong on every single occasion that matters - and that goes for the three major credit rating agencies too. They may downgrade our sovereign debt (and I am fully aware of the hazards of our current account deficit) but I believe that a post-Carney, post-Osborne Central Banker worth his/her salt will steer us through that one.
In 1945 Germany was in a state of utter devastation - physically and financially - but the genius of Ludwig Erhard disregarded conventional economic wisdom and introduced policies that ran counter to those of Keynes and his demand-management cronies, and got German industry and productivity going at a pace that has not slackened to this day. He got Germans off rationing and onto sound money long before Britain and America. He was a free thinker: when counselled by his US peers that his policies would fail, he replied " my own advisers tell me the same thing!"
To return: Brexit is not, and was not, the problem. The problem is the widening gulf between the ultra-rich and the working classes - but for that you can thank the money-printing lunatics we call central bankers. Where do you think all that money goes? Not to the poor, certainly. To quote from one of my own recent articles: "No one, not even the chief of BP, should be paid a salary of £14 million, and no opaque assemblage of facts and figures thrust before a remuneration committee can justify the obscenity of paying a man more in one month than many will earn in a lifetime of work...... When the FTSE 100 Index stands at the same level as 18 years ago and 10% below its peak, why has executive pay over the same period more than trebled, with a rising disparity between average and top pay?"
Paradoxically, this has little directly to do with membership of the EU, but rather the pursuit of insane economic policies in every advanced economy, EU included. Brexit simply revealed the nexus of frustration of the disenfranchised millions who saw it (felt it, rather) as an opportunity to upend the iniquities of policies they didn't understand intellectually, but detested instinctively. They too, after all, are entitled to refer to Britain as "my country". So their reasons for voting to leave the EU are not necessarily rational, but strongly visceral, and hence are different from mine, and from those of the economists who are able objectively to observe where the blind pursuit of EU-wide fallacies are leading.
I don't know which of the doom-laden outcomes enumerated by Remainers will manifest beyond the period of short-term market disturbances and distortions - nor does anyone know. But I suspect that none of them is permanent, and I would hate to rely on the idiots running central banks or power-crazy EU mega-configurations to plan the way forward for us.
I follow the rationale of all the gloomy forecasts, but I consider most of them to be short-term outcomes, against which a release from EU shackles is well worth the price. It is a huge challenge for whoever takes over the helm in the UK, both now and after the next election - but Britain succeeded economically before 1973, and I believe that it has the resources, inventiveness and tenacity to overcome these obstacles and to thrive once more as a free-trade nation - coupled with low regulation and its own justice system. The horizons of our vision are so clouded by having to work for so many years under the Brussels yoke, that we appear tentative when given the opportunity to prove the worth of independence and, above all, self-determination.
Some refer to us having 'derided the so-called experts', and their 'well-intended advice'. These experts have a forecasting knack that has been proved wrong on every single occasion that matters - and that goes for the three major credit rating agencies too. They may downgrade our sovereign debt (and I am fully aware of the hazards of our current account deficit) but I believe that a post-Carney, post-Osborne Central Banker worth his/her salt will steer us through that one.
In 1945 Germany was in a state of utter devastation - physically and financially - but the genius of Ludwig Erhard disregarded conventional economic wisdom and introduced policies that ran counter to those of Keynes and his demand-management cronies, and got German industry and productivity going at a pace that has not slackened to this day. He got Germans off rationing and onto sound money long before Britain and America. He was a free thinker: when counselled by his US peers that his policies would fail, he replied " my own advisers tell me the same thing!"
To return: Brexit is not, and was not, the problem. The problem is the widening gulf between the ultra-rich and the working classes - but for that you can thank the money-printing lunatics we call central bankers. Where do you think all that money goes? Not to the poor, certainly. To quote from one of my own recent articles: "No one, not even the chief of BP, should be paid a salary of £14 million, and no opaque assemblage of facts and figures thrust before a remuneration committee can justify the obscenity of paying a man more in one month than many will earn in a lifetime of work...... When the FTSE 100 Index stands at the same level as 18 years ago and 10% below its peak, why has executive pay over the same period more than trebled, with a rising disparity between average and top pay?"
Paradoxically, this has little directly to do with membership of the EU, but rather the pursuit of insane economic policies in every advanced economy, EU included. Brexit simply revealed the nexus of frustration of the disenfranchised millions who saw it (felt it, rather) as an opportunity to upend the iniquities of policies they didn't understand intellectually, but detested instinctively. They too, after all, are entitled to refer to Britain as "my country". So their reasons for voting to leave the EU are not necessarily rational, but strongly visceral, and hence are different from mine, and from those of the economists who are able objectively to observe where the blind pursuit of EU-wide fallacies are leading.
I don't know which of the doom-laden outcomes enumerated by Remainers will manifest beyond the period of short-term market disturbances and distortions - nor does anyone know. But I suspect that none of them is permanent, and I would hate to rely on the idiots running central banks or power-crazy EU mega-configurations to plan the way forward for us.
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