Stu on Nostr: 10 year ago I thought Brexit was a calamitous idea. But if I’m honest it really ...
10 year ago I thought Brexit was a calamitous idea. But if I’m honest it really hasn’t been. It’s been a damp squib. Inconsequential. For all the attention and energy it consumed not much happened. The biggest cost was probably opportunity cost of so much political capital debate going to such a none issue.
Saying all that, before the fact it was certainly a big leap into the unknown.
But people had eyes wide open, they expected to be poorer. They expected to lose 8% of GDP.
They voted for it anyway.
Irrational? No, people were simply willing to pay that price for control of their destiny.
But they got lucky, the price was actually much lower.
The Brexit recession simply did not happen.
Lots of establishment types point to every minor thing and claim aha! brexit or aha! Climate change. But it’s undeniable, the emperor has no clothes. Nobody is listening any more.
We left years ago now.
Covid was 30x more disruptive than brexit.
Some stuff is rebalancing still, but UK has a lot of smart people. Is very agile. Can punch well above its weight. Has gained autonomy to do so.
All it takes is Sterling to return to 2008 exchange rates (or even $1.60) and the broadsheets will be squealing… “what do the Brits know?”.
Saying all that, before the fact it was certainly a big leap into the unknown.
But people had eyes wide open, they expected to be poorer. They expected to lose 8% of GDP.
They voted for it anyway.
Irrational? No, people were simply willing to pay that price for control of their destiny.
But they got lucky, the price was actually much lower.
The Brexit recession simply did not happen.
Lots of establishment types point to every minor thing and claim aha! brexit or aha! Climate change. But it’s undeniable, the emperor has no clothes. Nobody is listening any more.
We left years ago now.
Covid was 30x more disruptive than brexit.
Some stuff is rebalancing still, but UK has a lot of smart people. Is very agile. Can punch well above its weight. Has gained autonomy to do so.
All it takes is Sterling to return to 2008 exchange rates (or even $1.60) and the broadsheets will be squealing… “what do the Brits know?”.