FT Complains That the Economy is Doing Too Well

The Financial Times has truly outdone itself with this unintentionally hilarious article from Economics Editor Chris Giles complaining that the British economy has actually been doing too well since the referendum. Which is an interesting position for supposedly the world’s leading financial newspaper to take…

Not content with just being mystified by the fact that people failed to do as they were told in the referendum, the FT is now bemused as to why the markets haven’t done as the FT wants either. Giles bemoans the fact that “relatively benign economics has emboldened politicians to harden their Brexit demands and refuse to compromise” and declares that “it is now too late for markets or the UK economy to exercise much discipline on Britain’s politics before the scheduled exit date of March 29”. Translation: it’s too late for a financial or economic crash to scare people into doing what the FT says they they should do…

Giles says that since the referendum “economic performance has been tolerable while the employment rate has reached record levels.” Which is a bit of an understatement given the UK is currently the fastest-growing European country in the G7 while Italy and Germany slide towards recession. Rather than complaining that Project Fear hasn’t come true – despite the FT’s best attempts to talk it up – maybe they should have a little quiet reflection on why they got their predictions so wrong instead…

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