A John Kerry company
Kerry's
Propaganda
Machine
Globalists
Posted on 09/09/2019 12:39:16 PM PDT by Cronos
A no-deal Brexit could trigger a recession lasting four quarters in Britain, with the country's gross domestic product (GDP) contracting by 1.5 percent in 2020, the accountancy firm KPMG warned on Monday.
KPMG economists said that trade disruption under a no-deal Brexit would damage the British businesses, while potential shortages of imported foods and medicines are likely to undermine consumer confidence.
A no-deal Brexit could also significantly dent exports in 2020, causing delays at the border and confusion about regulations. "While both the Bank of England and the UK government would be likely to offer monetary and fiscal policy support, their headroom for action is limited," KPMG said.
At the same time, KPMG believes that a Brexit deal that would finally resolve some of the uncertainties about Britain's future trading relationship with the EU could lead the British economy to perform better than previously expected in 2020 and allow the Bank of England to keep the base interest rate at the current 0.75 percent level until at least Nov. 2020.
According to KPMG, a Brexit deal could prompt an appreciation of the British pound by as much as 15 percent and enable businesses to recommence their investment plans. With a strong labor market providing support for further consumer spending, an orderly departure from the EU on Oct. 31 is expected to help the British economy rebound, with GDP growth reaching 1.5 percent in 2020.
Yael Selfin, chief economist at KPMG UK, said: "With the Brexit debate poised on a knife edge, the UK economy is now at a crossroads. It is difficult to think of another time when the UK has been on the verge of two economic outturns that are so different, but the impact of a no-deal Brexit should not be underestimated.
"Despite headwinds, such as the slowing global economy and limited domestic capacity, the UK economy now has the potential to strengthen over the next 12 months. But a no-deal Brexit could put paid to this upside, triggering the UK's first recession for a decade," she said.
But its much more likely to create a boom in trade with the United States.
And this forum is full of people who are not sitting on the sidelines but who intend to make that happen.
No-deal would also whack the economies of NW Europe ... it’s in the EU’s interest too to make a deal
(despite propaganda like this)
Yeah. And Trump getting elected will cause the stock market to crash, a global recession, fire and brimstone to fall from the sky, a plague of locusts and cats and dogs to start living together.
More scare tactics by the remainers
Was listening to Parliament fussing and fidgeting about being pro-rogated, and one MP was predicting starving children, diabetics dying while waiting for their insulin, and maybe cannibalism (just made that up, but the Swedish do want a “modest proposal” in lieu of their meatballs)and pet eating.
So, I pondered for about five seconds, and concluded this is what leftards do and what they say when they’re losing. Screw ‘em. No-deal Brexit HO!
A John Kerry company
Kerry's
Propaganda
Machine
Globalists
Sure there will be some pain, but doing what must be done upon finding oneself in a horrible existing condition, it must be done.
Have some courage Queen. Have some courage Parliament. The British gov. used to have courage. Now they hide in the lies of globalists.
Let’s be frank: the only Brexit they are gonna get from Brussels is a “no deal” brexit. Let us quit lying to ourselves.
I love how the Globalists keep trying to threaten and scare everyone.
Sure there will be a recession, sure, because the UK won’t be able to deal with the EU who think they are the be all, end all of the entire World. UK will trade with so many established trading partners the only things they might short on wouldn’t really matter that much.
This is BS.
The globalists have just prevailed in Parliament. They want no Brexit without a deal, so they’re going to keep “negotiating” with Brussels, which now has no incentive to actually conclude a deal.
Like these guys aren't deep state globalists...
To give some perspective on the concept of requiring a deal:
A friend in Seattle bought a house just before the crash in 2008. She made two payments. Unfortunately for the bank, the mortgage got messed up in all that subprime bundling (promissory note separated from the deed, or something like that) and she and they started negotiating regarding he continuing payments.
They are still negotiating. She still lives in the house. She has yet to make another payment. This could be indefinite. She has zero incentive to agree to a deal.
And Brussels has no incentive to come to any kind of deal. They can simply drag this on for decades.
I read that there’d been a lot of investment in the UK and that they were actually expected to increase hiring and even contracting with foreign companies as a result. So I guess it all depends on your ideological frame of reference.
Like the old "Fram Oil" commercial, "You can pay me now, or pay me later."
Yeah right. BOO! Trying to fake scare before Halloween. Gimme break.
Consider the source. This is laughable.
3 years ago they had the advisory referendum in June. Then later that year parliament voted and approved invoking article 50.
Article 50 gave up to two years to negotiate a deal and leave.
The eu consulted the other 27 parliaments and got agreements on the negotiating parameters.
The UK negotiating team ,led by leading leaver David Davis, didn’t consult parliament.
When the two sides reached a deal, the agreement passed 27 past but was rejected by one.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.