Reply to: Carney says Brexit already costing UK economy £10B per year

[darmstadt]

Well I do believe in britain we must have pretty crap water management - as evidenced by the fact we have floods for a portion of the year and then 'hosepipe' bans for others.

But yes we build on flood plains without taking proper precautions.

Whether the EU dredging rules are making a difference - who knows...

but we need to sort it out.

I think you'll find it's because the UK privatised their water agencies and they were all bought by foreign companies who only invest the very minimum but make a lot of profit, much like the railways. HTH...

[HugeWhale]

Economists never seem to get it right. Hell, they can never even agree with each other. Economic consensus doesn't exist, and when you get something close to it then they're invariably wrong. Economics is opinion which pretends to be a science when wrapped in the warm comforting glow that only hindsight can offer. Trusting the judgement of economists is like asking an archaeologist to predict future trends - it's guesswork.

Just one example: the Governor of the Bank of England didn't predict the great credit crunch of 2007/8.
There he was, lavishly resourced, right at the heart of the system, and he missed it. Just as almost all the other economists missed it. The business professors at Harvard Business School? Missed it. Chairman of the Federal reserve - missed it. The greatest economic minds in the country - missed it. The advisors to central banks across the globe - missed it. AND IT WAS STARING THEM ALL IN THE FACE.

Here is HW's economic prediction:
We're due a recession.

There was one in the early eighties, when unemployment raced up under Maggie Thatcher before the Lawson boom.
Then one in the early nineties under John Major, before...
the DotCom boom and bust around 2000.
Then another one in 2007/8 - the big credit crunch.

They come around every 10 years or so. So we're just about due.

[original PM]

It's as a result of the devastating floods of Feb 1953, which also affected East Anglia, but the Brits did nothing on their side.

In addition East Anglia is effectively the Norfolk Broads which is really just large amounts of wetland connected by waterways so.....

[original PM]

Well I do believe in britain we must have pretty crap water management - as evidenced by the fact we have floods for a portion of the year and then 'hosepipe' bans for others.

But yes we build on flood plains without taking proper precautions.

Whether the EU dredging rules are making a difference - who knows...

but we need to sort it out.

[Eirikur]

Which is as we know a result of an EU directive.

https://www.adamsmith.org/blog/energ...oding-straight

Or maybe not

https://blogs.ec.europa.eu/ECintheUK...ut-foundation/

Depending on who you believe!

It's as a result of the devastating floods of Feb 1953, which also affected East Anglia, but the Brits did nothing on their side.

[original PM]

It is funny that the Dutch have flooding completely under control whereas the Brits get flooded after every rain shower

Which is as we know a result of an EU directive.

https://www.adamsmith.org/blog/energ...oding-straight

Or maybe not

https://blogs.ec.europa.eu/ECintheUK...ut-foundation/

Depending on who you believe!

[Eirikur]

aye, - right.

Glad you agree

[BR14]

It is funny that the Dutch have flooding completely under control whereas the Brits get flooded after every rain shower

aye, - right.

[Eirikur]

You have to make some serious allowances for Eirikur.

He hails from a country whose greatest hero achieved that accolade simply by sticking his finger in a dyke!! Oooerr missus!

It is funny that the Dutch have flooding completely under control whereas the Brits get flooded after every rain shower

[shaunbhoy]

Rude. And in fact wrong.

I am a remainer.

But I'm over it.

That is Whorty's stock in trade.

He could get hold of the wrong end of the stick if it only had one end!!

But don't upset him though.....he once confronted a plooky teenager that had strayed onto his property. Urban Warrior or what?

[tomtomagain]

He's a brexiter, he doesn't understand facts, just soundbites on the side of buses

Rude. And in fact wrong.

I am a remainer.

But I'm over it.

[Hobosapien]

or depending on your outlook.

Shouldn't be surprised, it's what they do with hard decisions, kick them into the long grass and then down the road for as long as they can.

Look at how they've handled the finances since the 2008 meltdown with seemingly perpetual 'emergency' low interest rates.

[BlasterBates]

Brexit is going well, helped by the fact that it isn't really happening.

Government pushing to extend the Transition period beyond 2021

[DimPrawn]

The UK was lucky to be in a period of world wide economical growth during and after the referendum. If there was just a little or no growth the consequences of the referendum outcome would have been devastating. The impact is there now and visible as Carney rightly says, but brexidiots experience it as no impact, because there is still growth, but what they conveniently ignore is that the growth in most other economic powerhouses is twice that of the UK or even better

Or as the BBC constantly spin it:

"Figures released today are much better than predicted, despite Brexit"

"Figures released today are much worse than predicted, due to Brexit"

[Whorty]

What don't you understand from his link?

He's a brexiter, he doesn't understand facts, just soundbites on the side of buses