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Re:Bank of England expects UK to fall into longest ever rece... by brookst on Thursday November 03, 2022 @03:25PM (#33456088)
And since recessions are partly a product of mass psychology, announcing that this will be the worstest recession ever makes it more likely to be the worstest recession ever. Even now they can't stop punching themselves in the face.
Re:Bank of England expects UK to fall into longest ever rece... by _puk on Thursday November 03, 2022 @03:35PM (#33456258)
"While it will not be the UK's deepest downturn, it will be the longest since records began in the 1920s, the Bank said."

They didn't say it would be the worst, just the longest.

They've also indicated that they aren't going to just keep madly raising interest rates, but expect to top out by next autumn:

"The Bank has done something it doesn't normally do in the published minutes of its decisions - it has given guidance that seems to suggest a peak in interest rates of about 4.5% next autumn.".

So it's far from scare mongering (on the bank's part, can't control how the media portray it), and more "this is not going to be a quick fix, we have some idea of how bad it'll get, and it's not as bad as the 80s. Please don't panic".

Quite a measured response in reaction to some bad news IMO.

Re:Bank of England expects UK to fall into longest ever rece... by brookst on Thursday November 03, 2022 @04:05PM (#33456742)
I fail to see any upside from the bank forecasting a long recession. It's hard to believe it's a high accuracy forecast; the central tenant of economies is that they usually do what you don't expect.

Agreed with everything else you said. "This is not going to be a quick fix, we have some idea of how bad it'll get, and it's not as bad as the 80s. Please don't panic" is perfect phrasing. But saying it will be the longest recorded absolutely is fear mongering, and partly self-fulfilling.

Re:Bank of England expects UK to fall into longest ever rece... by JohnJamesRambo on Thursday November 03, 2022 @03:34PM (#33456232)
Did they punch themselves in the face or was it Cambridge Analytica type meddling from groups with a vested interest in Brexit happening stomping them in the face with a boot?
Re:Bank of England expects UK to fall into longest ever rece... by jfengel on Thursday November 03, 2022 @04:34PM (#33457123)
Mostly column A, a little column B.

There's also a big chunk of column C: the leading opposition party did a terrible job of opposing it. There was a chunk of the Labour party, including its leader, who also favor Brexit, albeit a very different kind of Brexit from the Tories. For them, it's more about anti-globalism and anti-corporate-control.

That leader eventually resigned, but by that point the damage was done.

I can't predict what would have happened if the Labour party had chosen to unify on a pro-Europe platform, but they were soundly defeated. The Tory party won resoundingly, and they had run on a pro-Brexit platform.

There is always skullduggery, but it's really just something the UK did to itself.

Re:Bank of England expects UK to fall into longest ever rece... by DonaldFisk on Thursday November 03, 2022 @05:28PM (#33457934)
This is not true. There were a small number Labour MPs who wanted to leave, including Gisela Stuart, Kate Hoey, and Graham Stringer, but by the time of the referendum, Jeremy Corbyn had long changed his mind, accepted we should remain in the EU, and campaigned for that: https://www.theguardian.com/politics/2016/jun/22/corbyn-fina...
Re:Bank of England expects UK to fall into longest ever rece... by jfengel on Thursday November 03, 2022 @05:50PM (#33458258)
The problem wasn't just the referendum itself, but again in 2019. Corbyn said he had "a neutral stance on Brexit".

https://www.bbc.com/news/election-2019-50530163

The actual referendum was very close, and there was a lot of room for Labour to argue that it wasn't intended to be binding, or at least a Brexit In Name Only. The result was that Labour was creamed and the Tories got a real majority, whereas previously they'd been saddled with UKIP.

Corbyn also failed at the referendum, arriving at a belated and wishy-washy stance, and without compelling Labour to follow it. Had he resigned then, things might have been very different. Instead, he continued to lead Labour in a way that left people confused about where they stood on Brexit when put in the form of a Parliamentary election. Nobody could read the results as anything but "The nation voted strongly for Brexit."

I don't believe that really reflects what voters wanted, but elections are poor tools for sending messages. What they do is put people in office, and the people in office were people strongly for Brexit.

Re:Bank of England expects UK to fall into longest ever rece... by DonaldFisk on Thursday November 03, 2022 @06:33PM (#33458844)
Labour offered another referendum on membership, which none of other parties offered or were in a position to deliver, so the decision to leave could have been overturned if enough people wanted it to. A Labour victory would have given them the chance, regardless of Corbyn's stance.
Re:Bank of England expects UK to fall into longest ever rece... by jfengel on Friday November 04, 2022 @09:55AM (#33466730)
The Liberal Democrats took an even stronger position, basically ignoring the referendum. But the LibDems are still out in the wilderness, and got very few votes. All they did was to highlight that Labour was not the anti-Brexit party.

The impression I get was that by 2019, Remainers were tired of fighting about it, weren't enamored of Corbyn's version of Labour (Brexit was only part of it), and weren't going to rush over the LibDems.

And that overall, Brexiteers were enthused. Probably for very bad reasons, but they genuinely believed them. As for the original question, they might have been nudged along by some foreign propaganda and targeting, but it wasn't anything that their own leadership wasn't encouraging them to believe.

Re:Bank of England expects UK to fall into longest ever rece... by gghhzzgghhzz on Thursday November 03, 2022 @07:10PM (#33459260)
Biggest ever investigation by the Information Commission. No CA were not involved.

If you understood the political situation at the time, then it was all but obvious there would be a massive anti-establishment vote, facebook ads or not.

https://www.theguardian.com/uk-news/2020/oct/07/cambridge-an...