Banks forced the public to panic before and after the Brexit vote citing that everything looked bleak and that the economy would head into a tailspin. What utter rubbish; if that were true then what do they have to say now that the latest data shows that UK Manufacturing posted the biggest gains in 25 years. PMI soared to 53.3, a surge of 5 points from the previous reading, indicating that the naysayers as always were making claims that they knew would never come to pass.
This following article from the Telegraph illustrates how the masters of deception have to now change their story. We warned all along that BREXIT panic was total crap, and it was just another trick the bankers were using to push prices lower.
- IMF admits financial market turmoil triggered by Brexit has subsided
- Pound spikes above $1.33 as UK factory activity smashes expectations
- UK manufacturing activity stages one of its sharpest rebounds on record in August
- Eurozone manufacturing growth hits three-month low in August
“In the United Kingdom, while second-quarter growth surprised on the upside, more recent data foreshadow a sharp slowdown after the referendum. Further ahead, the outlook will be affected by the degree to which the future relationship with the European Union can preserve the benefits of economic integration and trade,” it said in a report ahead fo this week’s G20 meeting in China.
“While political uncertainty remains concerning the development of the relationship between the United Kingdom and the European Union, short-term turbulence has ebbed. “ Full Story
After Brexit, the so-called experts continued to pump nonsense and use anything they could lay their hands on to scare the masses. This is what they said in July when the PMI was released
The UK manufacturing purchasing managers’ index (PMI) fell to 48.2 in July, down from an initial reading of 49.1. That’s the worst pace of contraction since early 2013. Levels above 50 indicate expansion. Last week, Markit said the initial reading showed “a dramatic deterioration in the economy” in the wake of the Brexit vote
Then bankers came out and surprised the markets by lowering rates from 0.5% to 0.25%, citing fears of a recession. Additionally, Britain’s central bankers stated they would create $60 billion pounds out of thin air to support the markets and buy up to 10 billion pounds of corporate bonds to support the economy.
“This is the appropriate response to the economic conditions we find ourselves in,” the Bank of England’s governor, Mark Carney, told a news conference. “We took these steps because the economic outlook has changed markedly” since the referendum, Carney said in a statement. “By acting early and comprehensively, the (Bank of England) can reduce uncertainty, bolster confidence, blunt the slowdown, and support the necessary adjustments in the U.K. economy.” Full Story
Analysts and experts usually know nothing, and you are better off doing the opposite of what they suggest. Having said, that Brexit is better for Britain in the long run; the most important question is whether the politicians follow through. They are already stating that it could take two years for this divorce to finalise. The big players make huge sums of money by tricking the masses into buying the crap they sell. The average person is nothing but a puppet controlled by invisible puppet masters; and, it all starts with public education. Make sure you watch Plato’s Allegory of the cave.