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US PRESIDENT BARACK Obama has said the UK’s decision to leave the EU raises “ genuine longer-term concerns about global growth”.
Speaking at a summit in Ottawa with the leaders of Canada and Mexico, Obama said it was possible a Brexit could freeze the possibility of investment in Great Britain “or Europe as a whole”.
Obama said the US government was monitoring the situation very carefully and he expressed confidence in the global financial system’s resilience and stability, and the ability of all parties in Europe to work out a smooth transition.
He said preparations done by central banks and other financial institutions “indicate the degree to which the global economy in the short run will hold steady”.
However he added: “I think there are some genuine longer-term concerns about global growth if in fact Brexit goes through and that freezes the possibility of investment in Great Britain or in Europe as a whole.”
At a time when global growth rates were weak already, this doesn’t help.
Obama also called on the UK prime minister David Cameron and other EU leaders to ensure an orderly process for the British exit.
Additional reporting: - © AFP, 2016
All the growth the world has seen has left the rich half in misery wanting more and the poor half poorer living on less. World leaders chose not to see this to keep the investors happy.
Do we want growth? Doesn’t growth lead to bubbles which are ultimately unsustainable and eventually burst leading to misery? Some slight controlled growth can be sustainable but just hunting growth might pander to the masses in the short term while hurting them over the longer term.
Sober up.
“Anyone who believes exponential growth can go on forever in a finite world is either a madman or an economist.”
Kenneth boulding
Golden wasn’t an economist. That leaves one option.
“Is I. P. Freely here? Hey, everybody! I. P. Freely!”
Moe from the Simpsons.
The peasants revolt while xenophobia is the Patsy of the Brexit vote
http://www.tworoundcorners.com/the-peasants-revolt-while-xenophobia-is-the-patsy-of-the-brexit-vote/
One element always has me cautious, and that is when we see a neverending line of ‘magnates’ warning death and destruction. I am not saying the exit is a negated cost exercise, but if we look at the horizon, the inevitable GFC reloaded, even without the exit. (US economy is headed for adjustment, hard to argue otherwise) I do wonder if it is better to cut off the arm now, than try to save it, only to develop gangrene.
Hate to say it, Patrick, but I couldn’t help but agree with much of what you have to say there. I’m getting more than a little aggrieved at the amount of people laying this vote at the feet of xenophobia and hankering after lost empires. It was a vote of generalised protest with little concerned for ramifications. Mainly because the leaders of both factions in the pre referendum debate seemed only able to paint in broad strokes and seemed unwilling to articulate to the electorate.
Ok so Farage is not a xenophobic populist!
It is not about the 1/3 concerned about immigration Proinsias, rather the undeniable fact that millions are concerned with a plethora of issues. No one is saying there was/is not a concern for immigration, however, that is being extrapolated for the agendas of many.
Quite right Democies, it is also allowing for a complete sidestepping of the real issues. People like to say it is not about (Irish Water) rather the 101 pushed to the edge issues we all face, it is a similar story.
Remember months ago, Obama said it would put UK to the back of the line for trade and then on the same day as the result America along with Canada wanted special trade deals with the UK. Total liar.
Obama still pushing for ttip to happen.the man has been bought off long ago
Germans will still do business they need UK to buy their products in the region of 80 billion a year. Obama is a fool and the EU growth was slowing long before any brexit
F@#k off Barrack!!
Wars, trillions to bailout dodgy banks, disasterous trade deals, the pauperisation of middle class working class and continuous QE ponzi schemes devaluing currencies has nothing to do with it of course. Best blame 17 million Brexiters defending their ancestral history and civil rights.
Concerns about immigration need not imply massive racism. It seems odd to some people that’s it’s easier for a jobbing Romanian plumber to enter the gates of Britain than it is for a qualified Indian doctor.
More to life than money what about global peace and justice
Both of those are dependent on personal and social capital, which is influenced greatly by inequality that in turn needs a healthy financial position. So really, unless we change the model of capitalism in society, money is the major factor in life.
I think Eddie meant his comment as a stand alone rather than a response. Either that or:
1. He believes Romanian plumbers are fighters for “global peace and justice”, and that Indian doctors oppose those ideals. In which case he’s confused Romanian plumbers with Italian plumbers and Indian doctors with a variety of creatures depending on which game you’re playing.
2. He believes a non sequitur is a proper response. Which it ain’t.
The kind of exponential growth the globalisation economic crowd are after is not necessary, desirable or even possible in the long run
The sky is going to fall….peace in Northern Ireland is under threat…..what next ?
In a World where people are becoming more & more depressed, despondent, and despaired, while at the same time becoming dependent on drugs, alcohol, & prescription pills, it boggles my mind that people still buy into the false meaning of life sold to us by the political system. Global growth, money, economics…come on folks, none of this really matters. Humanity needs to reconnect to itself, before we create our own extinction. Forget all the bull sh*t being fed to you by the media!
The sky is going to fall….peace in Northern Ireland is under threat…..what next ?
Three absolute failed entities these lads.
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