Thursday, March 7th, 2019
Stephan: It is my opinion that BREXIT is one of the stupidest economic and geopolitical moves made by any developed nation in the last half century. With the clock ticking down the last few days and still no agreement, I think by the end of the year Britain is going to be in real trouble. Not just economically, but possibly in the very structure of the nation. By 2020, when the U.S. hopefully will see the disappearance of most of the Republican cretins in the Senate, as well as Trump, Britain could be facing the loss of Scotland, the unification of Ireland, and the loss of Northern Ireland, leaving just little England and tiny Wales. That would be the end of the United Kingdom and would then leave England facing a major historic reduction in power, economy and national status.
Here is the latest assessment of where BREXIT stands and what it may mean.
UK car plant
A no-deal Brexit would plunge the UK economy into recession and annual growth will slip below 1% this year for this first time since the financial crisis even if a deal is secured, the Organisation for Economic Cooperation and Development (OECD) has warned.
The thinktank, which advises 34 of the world’s richest countries, said that even with a smooth Brexit, the UK economy would slump to 0.8% growth in 2019 from 1.4% in 2018 as Brexit uncertainty and Donald Trump’s trade war with China harmed the UK’s economic prospects. In November it was forecasting 1.4% growth for the UK this year.
The last time annual growth in the UK was below 1% was in the depths of the financial crisis, when the economy contracted by 4.2%.
The OECD said a steep fall in investment over the past year by UK-based firms had left the economy in a weak position to boost its poor productivity rates and increase wages growth.
The economic health check comes as
Only a few days to go, but I’ve yet to hear the best reason for the UK or any other country to leave the EU – widespread corruption, which the top people are powerless to control.
The problem is particularly severe in in the eastern and southern states, , where Mafia-like organisations have infiltrated government and legal systems at all levels.