Ten of the world’s leading economists have issued a warning about the consequences of the UK leaving the EU as the City prepares for the pound to plunge and shares to fall in the event of a Brexit vote in Thursday’s referendum.
They look purely at the next few years. They are not actually doing economics in fact, they need to be looking for the unseen.
Which is, of course, that we don’t face a choice between the EU today and not-the EU today. We face a choice between the EU of the future and the not-the EU of the future.
One way to think of it is this – so, we’ve people who were told the euro would be an economic disaster of major proportions. They went ahead and did it. When it turns out to be an economic disaster of major proportions they double down and insist that it must continue, the beatings will continue until morale improves.
Who, on economic grounds, would want to join such a bunch of idiots in a system of such lunacy? And that is what they’re promising ever more of, more integration, more Europe, ever closer union with Brussels handling ever more of the cash. They are already, and will keep doing so, pushing for fiscal union. Who wants to be tethered to such stupidity?
Given that our Nobel Laureates don’t actually consider the true alternatives on offer our Nobel Laureates, however distinguished, simply are not doing economics.