‘We told you so’: Brexit to blame for soaring inflation, former Bank of England boss

mraniki@lemmy.worldmod to Brexit@lemmy.world – 54 points – ‘We told you so’: Brexit to blame for soaring inflation, former Bank of England boss
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“We [the Bank] laid out in advance of Brexit that this will be a negative supply shock for a period of time and the consequence of that will be a weaker pound, higher inflation and it will end weaker growth,” he told The Daily Telegraph. “And the central bank will need to lean against that now that’s exactly what’s happened. It’s happened in coincidence with other factors, but it is a unique aspect of the economic adjustment that’s going on here.”

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Brexit ripped me and my LDR English partner apart and it‘s been a struggle to try and navigate ever since. We had planned for me to go there due to my English being better than his German, but Brexit was what changed our course. So they lose two people with skills in IT and welding! Hope that helps with inflation, eh?

The only upside of this is that once we are done with this horrendous immigration process (fuck Austria too for that), he will be away from England/UK for good, which I see only as going downhill, as they don‘t invest in infrastructure or healthcare, but instead in surveillance and protest suppression.

My right winger family members here are cheering this on too and are already hoping Austria will leave the EU as well, in which case we plan to move to Germany. I‘m not dealing with the fallout from nationalist stupidity again.

From an outsider’s perspective, it looked like insanity had taken over your country since the downsides of Brexit were so obvious.

Whenever I hear inflation I instantly think "how much do you want to bet a bunch of greedy landlords and whatnot jacked up their prices without any of their costs going up even remotely as much, while blaming it on inflation?" and I feel like it's literally every landlord, capitalist who's money makes them money and they have an overinflated sense of importance and societal value

And banks on mortgages, and supermarkets on food, and oil companies on fuel, and energy companies on utilities……

Nope just landlords...otherwise economic complexities make head go ouchies.

I'm not from the UK, but I found it really sad that my dads company decided to switch a lot of their British suppliers with German and French ones due to the increased bureaucracy of dealing with the UK.

It's mostly just old farts that voted in favor. Most of them aren't around anymore or won't be in the next 5 years. Such a shitty way of doing it imo

Important decisions like that should always be some sort of majority vote, the way all of it came about is just odd

Technically it was a majority vote. It's just the arrogance of the people that set up and agreed to the referendum that thought nobody would vote for it meant that they didn't define what the majority should be. >50%, 60%, 75% etc. It was a massive failure of state craft made easier because the case to remain hinged on a "if you're not with us you're a racist" argument that didn't go down well to win people over.