Back last year, when the Brexit vote was first mooted all the prophets of doom were running around screaming about the economic damage leaving the EU would do the dear old UK, I cautiously espoused an opposing view here and here and here.
Now Mark Carney, Chairman of the Bank of England has seen the light. Seven months late, but that’s why I put not my trust in Princes and watch the truth of real numbers. The City of London, like any other financial market, floats on a sea rich and royally reeking of bullshit, but, and it’s a massive curvaceous booty to boot, the numbers say that the EU is overstretched financially, and with the exit of the UK beginning in March 2017 will likely lurch into a deeper crisis than the one it is in already.
In the UK however, all the future indicators are positive. Countries are queuing up to do deals with one of the major trading hubs of the western world. For too long the UK was trapped as a satellite, bound into a fairly restrictive single market without all the global links it needed to really catch fire, financially speaking. Now those markets look set to burst wide open, and for a few years there should be an expansion as old and new relationships are exploited. More jobs, an expanding economy, and maybe even a loosening of the bondage ties of EU mandated directives. Of course there will be winners and losers, but for the guy who is quick off the mark, the rewards will be out there.
These are exciting times. At least for an investor with their eyes wide open. With a pro-UK man in the White House for a change, a deal maker at that, and with a possible new and more positive relationship with Russia in the offing I’m feeling quite sanguine. For too long the world has been fighting itself like a dog in a sack, now the sack can be opened, and the dog can go chase all the juicy bones out there. Sure, it won’t be all plain sailing, but this is the beginning of a new era, and with luck the morbidly obese bureaucracy of the EU will be a distant fading memory in a couple of decades time.
Wonder what they’ll do with all those grandiose insults to architecture the Eurocrats were so fond of?