The columnist who predicted Brexit would be a ‘mere ripple’
Sometimes, you’ve got to take a punt.
Just ask News Corp’sTerry McCrann, who took a big one two days out from the British EU referendum in an angry column headlined “Why Brexit hysteria is unfounded“.
If the Leave camp won, the impact on the global economy would be a “mere ripple” predicted McCrann, just 72 hours before two trillion dollars were wiped off global share market capitalisations. (And $400m after the market cap of his own employer News Corp, as it happens.)
In the not-entirely-prophetic column, McCrann went on to attack the “stupidity” of those who predicted that any such vote would “supposedly wreak havoc”.
Still, as David Cameron demonstrated, you can’t win ’em all.
The London market actually closed on Friday up 2 per cent over the week.
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Think about it this way: In the long run, he’s probably right. Post Brexit is having a bigger short term effect because of the uncertainty.
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The FTSE 250, which is considered a bellwether of the UK economy as a whole because it contains more UK-focussed companies, ended the day down 7.2pc – its worst day since Black Monday. The Dow is down, European markets having a shocker, Nasdaq had its worst day since 2011, S&P saying they may strip the UK of their AAA rating, Moody’s shift UK outlook to negative and Sterling at record lows. Like Greece, the EU will have to smash the UK economy as a lesson to any other nations thinking of a Nexit. It’s not nice, but necessary for its survival. This is just the beginning.
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Dicky B has waded in:
https://www.virgin.com/richard-branson/calling-parliament-take-second-look-eu-referendum
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Good on you Anonymous for not letting any facts get in the way of a rollickingly misguided opinion.
1. The FTSE250 opened on Monday June 20 at 16442.01
2. It closed on Thursday June 23 (before the Brexit poll results and when majority of the pollsters were still incorrectly predicting a Remain win) at 17333.51 – up 5.4%.
3 It closed on Friday June 24 (after the Leave win was known) at 16088.05 – down 2.2% for the week and down 7.2% for the day.
You really should learn how to Google information old chum.
Toodle-pip.
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These words from an Anthony Hilton column for the Evening Standard might just sum it up:
“I once asked Rupert Murdoch why he was so opposed to the European Union. ‘That’s easy,’ he replied. ‘When I go into Downing Street they do what I say; when I go to Brussels they take no notice.”
The Sun still sells approx 1.8m copies in the UK. Murdoch doesn’t like the fact that he is unable to sway votes in most EU countries and he wields more power in the UK, with the UK out of the European Union.
So many angles and so many agenda’s…
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Tuesday and the pound and the UK market is still crashing. The EU has announced it will kick the UK out if it doesn’t leave of its own accord – Boris’ prediction that they would crawl over broken glass to beg the UK to stay has gone in a puff of reality.
Keep dreaming.
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I have a cut out copy of McCrann’s article. All analysis by the experts and evidence shows that Brexit has been a fiasco.
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