Leaving the EU has reduced Britain’s GDP by up to 8pc, according to a devastating US study

Leaving the EU has reduced Britain’s GDP by up to 8pc, according to a devastating US study

The latest such assessment comes in the form of a paper from the US-based National Bureau of Economic Research (NBER). This concludes that Brexit has reduced UK GDP by 6pc to 8pc, far more than most previous estimates.

Investment is worse off by between 12pc and 18pc, employment by between 3pc and 4pc, and productivity also by between 3pc and 4pc. There have been few more devastating assessments than this.

  • squaresinger@lemmy.worldEnglish
    1·
    49 minutes ago

    IMHO the mask simply came off in 2008 when they bailed out the rich and not the poor. They’re pissing on our legs and telling us it’s raining. As more and more people are forced into poverty while the stock market soars, more of us are rightfully asking these questions. So what are we gonna do about it? Do you trust your savings to someone who insists that the economy is rich people’s yachts?

    It’s all just a matter of goals. Is economics there to help the poor, the middle class or the rich? Depending on your answer, it’s either an absolute failure or an unmitigated success.

    And considering the golden rule (“The one who has the gold makes the rules”), it’s quite clear what’s happening there. All of the economics technobabble is only there to distract and justify, not to actually make sense.