GRcade

Blue Eyes wrote:Stop saying Netflix in here.

BANK OF AMERICA: Theresa May's Brexit plan means 'lower incomes all round'

LONDON — Prime Minister Theresa May's plan for a "hard Brexit" will lower UK incomes and cost up to 10% of GDP over 15 years, according to analysts at Bank of America Merrill Lynch.

In a note to clients, the US investment bank highlighted the economic benefits of the customs union and single market, as well as the costs of leaving.

Free trade via the customs union with the EU "has been a key driver of rising average living standards in recent decades (though of course there is much debate about the distribution of income)," analysts led by global economist Ethan S. Harris said in the note. "So cutting trade with the EU would be economically negative in our view."

Meanwhile, the single market "helps economies of scale," the analysts said. "The UK attracts foreign direct investment from abroad in part because of its membership, which often boosts productivity by bringing in external expertise."

"So exiting both the customs union and the single market would therefore be economically costly: it would introduce frictions to UK/EU trade that do not currently exist, which means reduced trade volumes between the UK and EU and therefore lower incomes all round."

"What will be the precise economic costs? No-one can be sure because there are no recent precedents for this type of action," Bank of America said. "But the evidence suggests that the costs will be large, of the order of 5-10% of GDP over perhaps 15 years. This is one reason we are pessimistic about UK trend growth."

Preezy wrote:I feel sorry for Moggy. He's been led down the garden path by liars and truth haters that try to make Netflix out to be the Big Bad, but just you wait. After a couple of years of no Netflix you'll still be suffering with all the same problems and you'll be looking for something else to blame.

Preezy wrote:I feel sorry for Moggy. He's been led down the garden path by liars and truth haters that try to make Netflix out to be the Big Bad, but just you wait. After a couple of years of no Netflix you'll still be suffering with all the same problems and you'll be looking for something else to blame.

Moggy wrote:

Blue Eyes wrote:Stop saying Netflix in here.

Somebody hasn't had Netflix and chill this weekend...

Garth wrote:

BANK OF AMERICA: Theresa May's Brexit plan means 'lower incomes all round'

LONDON — Prime Minister Theresa May's plan for a "hard Brexit" will lower UK incomes and cost up to 10% of GDP over 15 years, according to analysts at Bank of America Merrill Lynch.

In a note to clients, the US investment bank highlighted the economic benefits of the customs union and single market, as well as the costs of leaving.

Free trade via the customs union with the EU "has been a key driver of rising average living standards in recent decades (though of course there is much debate about the distribution of income)," analysts led by global economist Ethan S. Harris said in the note. "So cutting trade with the EU would be economically negative in our view."

Meanwhile, the single market "helps economies of scale," the analysts said. "The UK attracts foreign direct investment from abroad in part because of its membership, which often boosts productivity by bringing in external expertise."

"So exiting both the customs union and the single market would therefore be economically costly: it would introduce frictions to UK/EU trade that do not currently exist, which means reduced trade volumes between the UK and EU and therefore lower incomes all round."

"What will be the precise economic costs? No-one can be sure because there are no recent precedents for this type of action," Bank of America said. "But the evidence suggests that the costs will be large, of the order of 5-10% of GDP over perhaps 15 years. This is one reason we are pessimistic about UK trend growth."

http://www.businessinsider.com/bank-of- ... ?r=UK&IR=T

Lucien wrote:

Rocsteady wrote:

Garth wrote:

BANK OF AMERICA: Theresa May's Brexit plan means 'lower incomes all round'

It's cool, they're only experts.

They're the people who expertly strawberry floated up the world economy in 2008.

Lagamorph wrote:Looking at today's Telegraph headline makes no sense to me.
May is claiming a trade deal will open the door to US Jobs.
Isn't that more or less the exact opposite of Trump's American jobs for American people rhetoric?

Everything May says just seems to make her sound more and more like she's living in some fantasy land.

lex-man wrote:

Lagamorph wrote:Looking at today's Telegraph headline makes no sense to me.
May is claiming a trade deal will open the door to US Jobs.
Isn't that more or less the exact opposite of Trump's American jobs for American people rhetoric?

Everything May says just seems to make her sound more and more like she's living in some fantasy land.

I guess the hope is that the US doesn't look as the UK as a foreign country, or at least not wholly foreign.

Moggy wrote:

lex-man wrote:

Lagamorph wrote:Looking at today's Telegraph headline makes no sense to me.
May is claiming a trade deal will open the door to US Jobs.
Isn't that more or less the exact opposite of Trump's American jobs for American people rhetoric?

Everything May says just seems to make her sound more and more like she's living in some fantasy land.

I guess the hope is that the US doesn't look as the UK as a foreign country, or at least not wholly foreign.

We don't speak Mexican we speak American and so we is fine.

Squinty wrote:https://www.theguardian.com/politics/2017/jan/23/theresa-may-donald-trump-us-uk-immigration

So. A big bunch of racist bastards then.

Edit - oh, we are already talking about it. Carry on.

KKLEIN wrote: (though Eastern Europeans are white and that was still a problem for some)