One year after Brexit referendum, economic slow down

[Tinch]

Because people like you think that sort of bullshit matters.

And I thought it was Brexiteers who were supposed to have had enough of experts.

Where is this economic consensus on rising inflation then? Because I havent seen it.

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[Deleted]

And I thought it was Brexiteers who were supposed to have had enough of experts.

Where is this economic consensus on rising inflation then? Because I havent seen it.

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There aren't any experts when it comes to economics.

Try reading something other than the Express or the Mail.

[Tinch]

There aren't any experts when it comes to economics.

Try reading something other than the Express or the Mail.

I don't read them, but funny you mention the Mail and Express because you're sounding more like a reader of them, not me.

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[Deleted]

I don't read them, but funny you mention the Mail and Express because you're sounding more like a reader of them, not me.

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Yes I sound like a frothing-at-the-mouth right-wing lunatic....

[Tinch]

Yes I sound like a frothing-at-the-mouth right-wing lunatic....

When you say stuff like there is no such thing as economic experts then you kind of do a little bit, yeah.

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[Deleted]

When you say stuff like there is no such thing as economic experts then you kind of do a little bit, yeah.

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No economic theory has ever been developed which solved the fundamental problems of economic cycle, or predicted the economic future with any kind of statistically significant accuracy beyond that of pure guesswork. For that reason any one who works in economic forecasting is about as credible as a witch doctor. If you talk to economists they will admit this privately: they don't publicly because they would stop getting paid.

In any case I clearly do not sound in any way right-wing so your comment makes no sense at all.

[Deleted]

When you say stuff like there is no such thing as economic experts then you kind of do a little bit, yeah.

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The problem is that the BoE (and any national bank) drives reality as much as it predicts.
So when they guesstimate that the rates will rise over a time period, or that inflation will behave a certain way, that moves the market in such a way to often make their predictions wrong.
There are several graphs out of the projected interest rates as set by the FED (i'm certain for the BoE too) - Now they predict what they are going to do in the future, as they are the ones to set the actual rates - Yet over the last 5 years, they haven't been right Once.