“Brexit Is A Lose-Lose” – George Soros Slams Brits’ “False Hopes” As UK Economy Nears “Tipping Point”

A day after Brexit negotiations officially began, and seemingly unable to get over the result of democracy, George Soros is once again rattling his op-ed sabre, proclaiming the ignorance of British 'brexit' voters is about to get its come-uppance…

Economic reality is beginning to catch up with the false hopes of many Britons.

 

One year ago, when a slim majority voted for the United Kingdom’s withdrawal from the European Union, they believed the promises of the popular press, and of the politicians who backed the Leave campaign, that Brexit would not reduce their living standards. Indeed, in the year since, they have managed to maintain those standards by running up household debt.

 

This worked for a while, because the increase in household consumption stimulated the economy. But the moment of truth for the UK economy is fast approaching.

Soros said Britain’s eventual exit from the EU will take at least five years to complete, during which the country will probably hold another election.

“If all went well, the two parties may want to remarry even before they have divorced,” he wrote.

Bank of England Governor Mark Carney, in a speech at London’s Mansion House on Tuesday, said domestic inflation pressures remain subdued and signaled he isn’t in a hurry to raise interest rates. In his first major comments in six weeks, he also said he wants to see how the economy responds to the “reality of Brexit negotiations.” However, Soros warns that time's up…

“We are fast approaching the tipping point that characterizes all unsustainable economic developments,”

 

“The fact is that Brexit is a lose-lose proposition, harmful both to Britain and the European Union. It cannot be undone, but people can change their minds. Apparently, this is happening.”

If the Brits had just left it all up to him and his elite brethren, everything would be awesome we are sure… and Soros has a final solution…

If May wants to remain in power, she must change her approach to the Brexit negotiations. And there are signs that she is prepared to do so.

 

By approaching the negotiations in a conciliatory spirit, May could reach an understanding with the EU on the agenda and agree to continue as a member of the single market for a period long enough to carry out all the legal work that will be needed. This would be a great relief to the EU, because it would postpone the evil day when Britain’s absence would create an enormous hole in the EU’s budget. That would be a win-win arrangement.

Simple enough – despite the majority of Brist now in favor of Brexit, you should all shut up and do as your told!

source http://capitalisthq.com/brexit-is-a-lose-lose-george-soros-slams-brits-false-hopes-as-uk-economy-nears-tipping-point/