tag:blogger.com,1999:blog-5908830827135060852.post1711738860529378440..comments2024-03-29T02:54:56.523-04:00Comments on Bond Economics: Brexit Analysis (Why I Avoided It)Brian Romanchukhttp://www.blogger.com/profile/02699198289421951151noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5908830827135060852.post-43753856209655866662016-06-21T09:52:37.910-04:002016-06-21T09:52:37.910-04:00"Right now, tone deaf continental politicians..."Right now, tone deaf continental politicians are threatening the U.K., but the disastrous state of the euro area economy means that they have a weak negotiating position. An intelligent U.K. government could presumably cut a deal that limits the short-term disruption."<br /><br />That's perfectly put, but you're making the natural assumption that the Brussels autocrats and the UK's EUphiles are willing to be reasonable. The democratic will of the people is at best an irrelevance. As has been obvious for a very long time, this is a political project, and the European political elites are fanatical devotees. Greece is a case in point, although the same can be said of all who have been subject to the Frankfurt-Brussels autocrats. The EU could have easily cut a deal with Greece and the rest. They chose not to do so, even though it would have ended the crisis in short order. It was a political decision: disciplining the EZ is the objective. <br /><br />If we choose to leave the EU, what will happen to the UK? I suspect the Eurocrats will choose a similar course by trying to make life as difficult as possible. This may prove difficult given that nothing changes substantially for up to three years. But that is to forget the UK's political elites (the vast majority of Parliament, the Civil Service, etc) who are mad devotees, even worshippers, of the EU. Even after all that has happened, many wish to join the Euro! There is no possibility that these headbangers will meekly accept the results of a referendum: forty years of UK-EU political integration by elites isn't going to be overturned what they consider to be know-nothing plebs ticking a box for all of one second. After all, they positively loathe referenda, and only accepted one being called because they assumed with total certainty that they would win by a large margin, and in dong so make the issue go away for at least a generation, by which time a superstate may have been erected. <br /><br />The question is, what will the EUphiles do if we choose to leave the EU? Obviously they're not going to do nothing. That's unthinkable. They're readying for a nasty fight, and will try to make life as unpleasant as possible in order for us to change our minds. That seems to me an entirely reasonable assessment of their attitudes. George Osborne gave the game away when he said that he'd have to call an emergency budget, which would see tax increases and spending cuts. This wasn't just more of the incessant scaremongering from the remain camp but a sign of things to come. <br /><br />I'll be voting leave, but in the full knowledge that this is but the first step in a very long road to extricating ourselves from this antidemocratic corporate racket. If we are successful on Thursday, I also know that all our major political parties will do their best to make life as unpleasant as they can, at least until we acquiesce into rejoining. Johnhttps://www.blogger.com/profile/18181631191840432399noreply@blogger.com