The Duran
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
Authored by Mike Shedlock via MishTalk:
In the classic game of Chicken, the first person to blink loses.
The name “chicken” has its origins in a game in which two drivers drive towards each other on a collision course: one must swerve, or both may die in the crash, but if one driver swerves and the other does not, the one who swerved will be called a “chicken”, meaning a coward.
That’s essentially the game the EU is playing with Theresa May and the UK.
Chicken Brexit Style
May has blinked so damn many times the EU fully expects here and the UK parliament to blink again.
May gave away 39 billion pounds, agreed to an odious backstop that has the potential of keeping the UK in a customs agreement forever, and received nothing in return.
May is headed back to the EU now with her head tucked under her legs in a posture of defeat in a futile attempt to win backstop changes that the EU has already nixed.
What’s the point?
Brexit Plans
The Guardian reports One in three UK firms plan for Brexit relocation, IoD says.
That’s a very good thing. The more planning for Brexit, the less fear and pain there will be.
Short-Term Pain
The UK has a choice: Walk away and have a bad 1-2 years with 39 billion pounds in hand, knowing the EU will have a far worse two years, or be made permanent fools of.
That is the choice.
The EU played May for a fool and she was then and remains now. May is on the EU’s side. So why should they blink?
The only chance for a deal is if May and the UK parliament is willing to play chicken accepting a “crash” if the EU does not blink by removing the backstop.
No Chicken Crash
Here’s the most Absurd Brexit claim Ever: “30-Year Recession, Worse Than 1930s”
Contrary to discussion of no food, no medicine, no air travel, and dogs trapped on the wrong side of the English Channel, the process will be relatively smooth.
Sure, there will be some short-term pain.
But the long-term gain is the UK will be able to negotiate its own trade deal, it can control its fishing rights, it will not be under pressure to join the Euro, and it can escape the massive idiocy of EU agricultural policy and over-regulation of virtually everything.
Choice at Hand
- Short-term small amount of pain with enormous long-term benefits
- Long-term idiocy
So UK, which is it?
Mike “Mish” Shedlock
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
May’s job is to tank the people’s choice and to offer the power’s choice of remaining in the EU. If they were competent, they could regain their own sovereignty and work out trade deals. This is a controlled circus.
Hard to believe Britain existed and prospered for a thousand years before the EU and now some can’t imagine life without the EU as their defacto overlords.