Brexit Project Fear to Project Hysteria!

In my video last night I said it was the return of project fear. But I got it a bit wrong. Project Fear is now morphing into Project Hysteria and you can only wonder what is going to come next.

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The Bank of England has pushed out an economic forecast that is so bleak on a no deal WTO exit from the EU, you have to question its credibility. And many have, with Mark Carney the Bank of England Governor being accused of playing politics.

This ‘analysis’ basically puts forward that there will be total chaos, a reduction in GDP of eight percent, a spike in unemployment and a house price crash of 30 percent.

And surprise, surprise, the least worst option it says is Theresa May’s Fake Brexit, her Brexit In Name Only (BRINO).

But as City.A.M points out, the whole thing assumes that the UK establishment and the Eurocrats will just sit back and do nothing to mitigate any of this. I personally think they will do all they can to cause disruption - keep a close eye on them.

And all just after a Treasury report saying the same thing.

Tory MP and Brexiteer, Jacob Rees-Mogg told the Telegraph:

“This is Project Hysteria. Before the referendum, we were threatened with the plague of frogs. Now they warn of the death of the first born. The Bank of England has gone from being discredited to being hysterical.”

And another Tory MP, Brexiteer Charlie Elphicke, said:

“The other day Dr Carney told the Treasury Select Committee that interest rates could go down in a no-deal Brexit. Today he says they will rise. The Bank of England is all over the place.”

And even a former member of the Bank’s Monetary Policy Committee that sets interest rates, Andrew Sentence, has waded in, Tweeting:

“The Bank of England Brexit analysis is highly speculative and extreme.
“It will add to the view that the Bank is getting unnecessarily involved in politics and that will further undermine perceptions of its independence and credibility.”

These establishment types are using project terrify and taking the voters for mugs and hoping that MPs will be swayed by a resultant wave of public support for May’s awful plan.

But we’re no longer listening!

All they needed to top the Bank of England press conference off, was Private Frazer from Dad’s Army in one corner repeatedly chiming in with his famous line of ’we’re doomed’ and Corporal Jones rushing around in little circles on the other side repeatedly shouting ‘Don’t Panic’!

Anyway, what do you think? Please leave a comment below and thank you for watching.

Sources:

https://www.telegraph.co.uk/po....litics/2018/11/28/ma

http://www.cityam.com/269879/c....ritics-accuse-bank-e