chalga Posted February 2, 2017 Share Posted February 2, 2017 The story isn't out yet Carney reckons this Brexit thingy is just at the beginning,and there's going to be more twists and turns than a twisty turny thing. Link to comment Share on other sites More sharing options...
unbeliever Posted February 2, 2017 Author Share Posted February 2, 2017 (edited) Well they've done it. The BoE have changed their near enough meaningless growth prediction for 2017 from 1.4% to 2%. Whilst it's nice to finally have the economic experts from project fear doing a mea culpa, I strongly suggest that we remember this time and treat all economic growth predictions with the enormous scepticism they deserve. It's not the economists are stupid. It's that they're practising a soft science and don't seem aware of its limitations. Edited February 2, 2017 by unbeliever Link to comment Share on other sites More sharing options...
Jacktari Posted February 2, 2017 Share Posted February 2, 2017 Well they done it. The BoE have changed their near enough meaningless growth prediction for 2017 from 1.4% to 2%. Whilst it's nice to finally have the economic experts from project fear doing a mea culpa, I strongly suggest that we remember this time and treat all economic growth predictions with the enormous scepticism they deserve. It's not the economists are stupid. It's that they're practising a soft science and don't seem aware of its limitations. So you can calm down now. We will live in glorious sunlit meadows forever. No houses or industry, but plenty of grass to eat. Link to comment Share on other sites More sharing options...
unbeliever Posted February 2, 2017 Author Share Posted February 2, 2017 (edited) So you can calm down now. We will live in glorious sunlit meadows forever. No houses or industry, but plenty of grass to eat. You know if you cooked those mushrooms before you ate them you're technically breaking the law. ---------- Post added 02-02-2017 at 17:50 ---------- Perhaps the time has come for the matter of economic forecasting to be taken out of the hands of the BoE, IMF and Treasury and handed over to somebody with a better track record. I wonder if that octopus from the world cup is available. https://en.wikipedia.org/wiki/Paul_the_Octopus Or we could find one of those old ladies who read entrails, or palms or tea-leaves and such. Edited February 2, 2017 by unbeliever Link to comment Share on other sites More sharing options...
apelike Posted February 2, 2017 Share Posted February 2, 2017 You know if you cooked those mushrooms before you ate them you're technically breaking the law. ---------- Post added 02-02-2017 at 17:50 ---------- Perhaps the time has come for the matter of economic forecasting to be taken out of the hands of the BoE, IMF and Treasury and handed over to somebody with a better track record. I wonder if that octopus from the world cup is available. https://en.wikipedia.org/wiki/Paul_the_Octopus Or we could find one of those old ladies who read entrails, or palms or tea-leaves and such. Time to learn octopod.. Link to comment Share on other sites More sharing options...
El Cid Posted February 2, 2017 Share Posted February 2, 2017 Perhaps the time has come for the matter of economic forecasting to be taken out of the hands of the BoE, IMF and Treasury and handed over to somebody with a better track record. Is that your specialty Link to comment Share on other sites More sharing options...
999tigger Posted February 3, 2017 Share Posted February 3, 2017 You should ask UKIPper Jeffrey Shaw. After all, that's his argument in post #2961 above, which 999tigger then asked him to clarify with his question at post #2974. I find it a bizarre statement. As Jeffrey has a brain, then I thought he might do us the courtesy of clarifying the comment. Ive never seen anyone deny the existence of EU or international law before, which means there must be some context to his statement that I missed? ---------- Post added 03-02-2017 at 00:55 ---------- No EU law? Has that not been the issue most people have with the EU, that an unelected commission that has the sole right to propose legislation which is then enforced on EU member states. I think a lot of people misunderstand how the EU works. the commission is just the civil service. Ultimate decisions are made and voted on either by the EU parliament or for the really important ones then the Council of Ministers. Major legislation doesnt come into force unless approved by the Council who get to vote. The voters are the democratically elected representaives of the members i.e government ministers. Its hard co oridnating policy for 26 countries. the alternative is to let the EU parliament decide everything. Link to comment Share on other sites More sharing options...
phil752 Posted February 3, 2017 Share Posted February 3, 2017 I find it a bizarre statement. As Jeffrey has a brain, then I thought he might do us the courtesy of clarifying the comment. Ive never seen anyone deny the existence of EU or international law before, which means there must be some context to his statement that I missed? ---------- Post added 03-02-2017 at 00:55 ---------- I think a lot of people misunderstand how the EU works. the commission is just the civil service. Ultimate decisions are made and voted on either by the EU parliament or for the really important ones then the Council of Ministers. Major legislation doesnt come into force unless approved by the Council who get to vote. The voters are the democratically elected representaives of the members i.e government ministers. Its hard co oridnating policy for 26 countries. the alternative is to let the EU parliament decide everything. I think you are missing the point, vote are taken but only on the proposals that are put before them by the unelected Commission. Link to comment Share on other sites More sharing options...
999tigger Posted February 3, 2017 Share Posted February 3, 2017 I think you are missing the point, vote are taken but only on the proposals that are put before them by the unelected Commission. Not at all. the Commissioners are appointed by the member states. The ultimate say of whatever becomes law lies with the member states. Link to comment Share on other sites More sharing options...
El Cid Posted February 3, 2017 Share Posted February 3, 2017 Whilst it's nice to finally have the economic experts from project fear doing a mea culpa, I strongly suggest that we remember this time and treat all economic growth predictions with the enormous scepticism they deserve. It's not the economists are stupid. The BoE have said its likely that living standards will fall; for some reason the media are saying the BoE has released a positive report about the economy. WHY? Link to comment Share on other sites More sharing options...
Recommended Posts