Carney desperately tries to cause ‘Brexit recession’

You’ll remember how, before the Brexit vote, Mark ‘Goldman Sachs’ Carney – the overpaid, over-promoted Governor of the Bank of England – sycophantically joined his boss (George Osborne’s) Project Fear to scare us into voting to stay in the corrupt, undemocratic, wasteful, economically-stagnant, failing EU.

Mr Goldman Sachs (sorry, I meant ‘Mr Carney’) warned us that leaving the EU would create uncertainty that could deter investment and lead to a recession.

Since then, the crooked Canadian has been frantically trying to talk down and rubbish the British economy to provoke a ‘Brexit recession’ to prove that he was right all along and to punish us ignorant, bigoted plebs for daring to defy the elites’ orders to vote ‘Remain’.

Part of Carney’s efforts to cause a ‘Brexit recession’ have involved ’emergency measures’ supposedly necessary to save the British economy from the ‘Brexit recession’ that he and the elites so confidently predicted. One of these ’emergency measures’ was to halve UK interest rates by an amazing, an astonishing, an astounding 0.25%.

Look carefully at the the graph below and you might just be able to see this cut in interest rate:

There it is. Right at the end. Ooooohh look how big it is! Well, not really.

Um, hopefully you’ll notice that this latest interest rate cut is more than insignificant. It’s tiny. It’s nothing. It’s so small that it’s not going to change anything. It’s not going to lead to businesses investing more. It’s not going to lead to Carney’s absurd claim that this will save over 200,000 jobs.

All it does is feed the Establishment’s narrative that we stupid, EU-loathing, racist bigots who voted ‘Out’ now have to be saved from the results of our reckless ignorance by our omniscient and benevolent rulers.

Meanwhile, the mainstream media do all they can to play down the good news since the Brexit vote:

• The £ has fallen by about 10% making British exports more competitive
• This has led to Tata Steel changing their minds about selling a steel works and has thus saved over 2,000 jobs
• Another company is to invest £77m in a Cornish tin mine – more jobs
• Drugs giant GSK is to invest another £275m in manufacturing in the UK – another 1,000 jobs
• Many small companies (the backbone of the British economy) are seeing a surge in exports and are having to hire more people
• The falling £ has led to a boom in people holidaying in Britain – even more jobs
• Employment is at the highest level ever (causing more unemployed EU workers to pour into Britain)
• The FTSE100 is at almost record levels thus boosting the pension pots of those of us who are saving for our pensions
• Britain will have the strongest growth of any EU country this year

But the way Carney might manage to cause his ‘Brexit recession’ he so desperately wants is by driving up the deficits of British companies’ pension funds for those with salary-linked pensions. A tiddly 0.25% interest rate reduction will have negligible effects on most of us. But just this small fall has increased the FTSE100 companies’ pension deficits from £46bn at the end of July to £63bn just two weeks later.

This means that many companies will have to pump ever more money into their salary-linked pension schemes leaving billions less for investment, growth and job creation. This might even bankrupt some companies – even those not already ruined by Philip and Tina Green so they can buy yet another luxury yacht.

Well done Carney! You might manage to cause your ‘Brexit recession’ after all!

Then you can gleefully crow “I told you so”.