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Bank of England: The European Union, NOT Britain, will Suffer from #Brexit...
You may have noticed a lack of mainstream news coverage regarding #Brexit lately. When news first broke of the UK leaving the EU, there was tons of shrieking about the financial doom the Leavers would surely face. Alas, here we are over six months later... And Britain's recent economic success? Nary a headline made. Likely because the media and Remainers are a bunch of sore losers (read Dear 'Dumbfounded' Leftist Media Who Didn't See #Brexit Coming...).
Well, most of them. One such "Remainer" who warned against leaving the Union has recently undergone a change of heart. What with Britain doing super duper fine since beginning the motions to exit stage left from the globalist hive. Cheers, #Brexit!
In a major U-turn, the head of the Bank of England Mark Carney said Brexit is not the biggest risk to the UK economy and the EU has most to lose from it. Before the referendum, he had warned that a Leave vote could trigger a recession...The country's industry has been recently described as "booming back to life." Industrial production rose by 2.1 percent in November, driven by strong manufacturing output. The leading FTSE 100 index of Britain's biggest companies hit record levels on Wednesday. It smashed the 7,300 barrier in intraday trade for the first time in its 33-year history, touching an all-time peak.
Now that Carney has seen Britain begin to sustain itself, he brought up a good point. The European Union isn't in any position to be leveling threats against the UK. Because Britain is a nation with its own rich history, culture, and values. Most of which the EU seems to hate.
Turns out the UK doesn't need the EU to smother it to death in the name of leftist, European progress. Britain's put on their big boy britches and can take care of themselves (see Post-Brexit, UK's Manufacturing Sector Soars. Value of Pound Rebounds...). The Union, on the other hand? Not so much. They depend on everyone else. It's one of the downsides of being a giant, collectivist leech...
[He] said that "financial stability risks around the EU exit process are greater on the Continent than they are in the UK." Carney added the EU was heavily dependent on London for finance and any attempt to cut the UK off would hurt [the EU] badly. According to him, Britain exports £26 billion of financial services each year to the rest of the EU and imports only £3 billion.
To LwC regulars, this should hardly come as a surprise. We've had faith in Brexit from the beginning (see 5 Reasons We're Celebrating #Brexit). After all, the whole independence thing tends to pan out rather well...
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