Quote:
Originally Posted by the truth
hmmm i dont know , there is some momentum for delaying article 50....you really cant see a second referendum on a redraft, before we leave for good and cut all our ties?
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No. What is ocurring now in the UK AND against the UK from abroad, is merely the second wave of the same 'scare tactics' in a well orchestrated campaign by the pro-EU 'Establishment' which seeks to preserve the 'status quo' for their own corrupt reasons.
Having JUST failed to win the Referendum with their pre-Referendum scare mongering propaganda, they are now relentlessly working to plant seeds of doubt in that percentage of 'Leave' voters who voted from superficial whim rather than deep commitment following extensive research, and FORCE another Referendum - and their tactics are working.
Even this latest B.S from the government about 'Deporting' those long time UK resident immigrants is fake and designed to create anxiety and panic in the gullible - especially about the fate of ex-pats.
Yet this B.S. comes 'close on the heels' of Cameron and his cronies ASSURING us that long term UK immigrants and UK ex-pats living abroad in EU countries will be UNAFFECTED.
I don't know about you Truth, but I am old enough to have seen GENUINE crashes and recessions - I even lost most of what I had worked all my life for in the last one - and no matter HOW SEVERE these genuine crashes and recessions were -- WE ALWAYS, not only survived them -- we PROSPERED and PROGRESSED and PROSPERED.
All this post-Brexit B.S. is no different.
1961 recession 0.5 years - 0.2% Time lag from the 'Rolling Adjustment' recession in America and high bank rate. Interest rates were hiked from 5.0% to 7.0% in July 1961,
reducing to 6.5% in October 1961 and then to 6.0% from
Mid-1970s recessions 1973/1974 - 0.75 years -0.4%
Oil crisis, stagflation, the decline of traditional British industries, inefficient production caused by excessive union wage demands.
The economy surpassed its pre-recession peak by 1976 fourteen quarters after its beginning.
There were two single-quarterly setbacks during the recovery (aside from the double-dip) in 1974 Q4 and 1976 Q2.
Average inflation was 9.2% in 1973, 16.0% in 1974, 24.2% in 1975 and 16.5% in 1976.[15]
Interest rates fluctuated wildly during the recession with a low of 9.0% in March 1976 and a high of 15.0% in October 1976.
1980s recession -1.25 years
Deflationary government policies including spending cuts, pursuance of monetarism to reduce inflation, switch from a manufacturing economy to a services economy.
Company earnings decline 35%.
Unemployment rises from 5.3% of the working population in August 1979 to 11.9% in 1984
Took thirteen quarters for GDP to recover to its pre-recession peak at the end of 1979.
Annual inflation was 18.0% in 1980, 11.9% in 1981, 8.6% in 1982 and 4.6% in 1983.
Interest rates generally declined during the recession from a peak of 17.0% at the beginning of 1980 to a low of 9.6% in October 1982.
1990s recession - 1.25 years - 1.1%
US savings and loan crisis, high bank rate in response to rising inflation caused by the Lawson Boom and to maintain British membership of the Exchange Rate Mechanism.
Company earnings decline 25%.
Peak budget deficit ~8% of GDP.
Unemployment rises from 6.9% of the working population in 1990 to 10.7% in 1993
Took eleven quarters for GDP to recover to its pre-recession peak in the Spring of 1990.
Annual inflation was 9.5% in 1990, 5.9% in 1991, 3.7% in 1992. and 1.6% in 1993.
Interest rates were stubbornly high initially but declined from a high of 14.8% at the start of the recession to a low of 5.9% by the end of the recession, though interest rates were hiked twice during Black Wednesday.
2008 Great Recession. 1.25 years
Late 2000s financial crisis, rising global commodity prices, subprime mortgage crisis infiltrating the British banking sector, significant credit crunch.
The recession lasted for five quarters and was the deepest UK recession since the war.
Manufacturing output declined 7% by end 2008.
It affected many sectors including banks and investment firms, with many well known and established businesses having to fold.
The unemployment rate rose to 8.3% (2.68m people) in August 2011, the highest level since 1994.
There was much speculation of a 'double dip' recession during the 2010s, but this proved not to be the case. However, the 2010s saw four separate periods of Quarter on Quarter fall in growth: 2010 Q4 (-0.4); 2011 Q4 (-0.1); 2012 Q2 (-0.5); and 2012 Q4 (-0.2).
We - THE BRITISH - SURVIVED AND OVERCAME and PROSPERED.
'There IS NOTHING to fear but FEAR itself'