About time the big guns weighed in of the brexit side: Don't read this Fred, it will make you feel sick.
Everyone’s lining up against Brexit, but voters aren’t fooled
By
Liam Halligan
30 April 2016 • 4:47pm
British voters can decide whether the EU is working on June 23 Credit: Reuters
UK GDP grew by 0.4pc during the first three months of 2016, we learnt last week, down from 0.6pc the quarter before. “The threat of leaving the European Union is now weighing on our economy,” claimed Chancellor George Osborne.
The Bank of England is worried about “a fall in sterling due to fears of Brexit”, we’re repeatedly told, the latest Threadneedle Street intervention also warning of “a lower path for growth” if British voters have the audacity to leave the EU.
And if only “uncertainty” hadn’t been “heightened by the UK’s referendum on EU membership”, Janet Yellen opined last Wednesday, the mighty Federal Reserve might now be able to raise interest rates, helping the US central bank steer global markets away from dependence on emergency measures and back towards normality.
With Britain’s EU decision-day less than two months away, every official economic body now seems to be telling us Brexit would send the British economy to hell in a hand-basket – and even threat of Brexit is already doing untold damage.
So what if the UK referendum date wasn’t set until the end of February, most of the way through the first quarter, or growth also slowed across Asia and the US?
So what if sterling already fell 10pc against our main trading partners between December and March, has since staged a partial recovery, and is anyway on a long-term decline given repeated massive trade deficits and the doubling of the UK’s national debt.
So what, also, if many British exporters actually want a lower pound?
So what if the real reason the Fed doesn’t dare raise rates further, having told us in late-2015 to expect four increases this year, is that Western stock and bond prices are so pumped up on printed money, so dependent on the drip-feed of central bank largesse, that any move could send financial markets haywire?
Full article here:
http://www.telegraph.co.uk/business/2016/04/30/everyones-lining-up-against-brexit-but-voters-arent-fooled/