Bwahahaha! Post-Brexit UK economy falls behind California!

MP   |   Published originally May 7, 2018

You may recall that during our fake news era, MFP supported Nigel Farage and Brexit in pro-Russia propaganda articles HERE, HERE, and HERE.

But now that it’s too late to reverse the referen-dumb, we can LOL at the low-information British voters that got tricked into supporting Brexit:

  • California now world’s 5th largest economy, surpassing UK

    And it’s not just tech:

    California’s gross domestic product rose by $127 billion from 2016 to 2017, surpassing $2.7 trillion…Financial services and real estate led the pack at $26 billion in growth, followed by the information sector, which includes many technology companies, at $20 billion. Manufacturing was up $10 billion.

    [Since 2012], the largest U.S. state has added 2 million jobs and grown its GDP by $700 billion.

  • UK economy grinds to a halt

    GDP grew by just 0.1% in the first quarter of 2018 compared to the previous three months, representing the weakest expansion in more than five years…”The squeeze on real pay has held back household spending, and businesses have been grappling with ongoing uncertainty over Brexit”.

  • Eurozone growing faster than the UK

    Growth in the 19-country single currency bloc reached 2.5% year-on-year…doing better than the UK economy, which only grew by 0.1% in the same quarter…”This was the fifth out of seven consecutive quarters that the eurozone grew faster than the UK following the EU referendum”.

    • But the best part about Brexit is that the very wealthy have insulated themselves from its negative F/X through tax loopholes and legislative carveouts.

      The burden of economic recession, increased regulations, travel restrictions, and higher cost of living will be carried almost entirely by the middle and lower classes…

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