Friday, 12 January 2018

Manufacturing Hoodies

Brexiteers are hailing the recent increase in manufacturing output as a vindication of their position; however, what they're not taking into account are the following two and incontrovertible facts - not opinions, but facts:

  1. Sterling has dropped from its value before the referendum, making our products more competitive, and
  2. We are still in the Single Market, meaning no tariffs are being levied on our EU exports. You can check this, but I believe you'll find I'm right.
Rather that it being an argument for leaving the EU, it's a somewhat forceful and cogent argument for remaining in the EU - from a manufacturing perspective, at least. Manufacturing output increasing is a result of a drop in sterling, occasioned by the market's reaction to the mere prospect of us leaving the EU, coupled with us still being in the Single Market in order to be able to take advantage of the drop in sterling AND zero tariffs.

Getting this through some people's skulls is almost impossible, which just demonstrates how emotions governed the Brexit win, rather than rational logic. This alone justifies a 2nd referendum - following a period of enforced, public education at a government Remain Camp.

Now sterling is creeping up again but, once tariffs some into effect, Brexiteers had better hope to Hell that sterling crashes through the floor - which it probably will - so it's no use crowing about sterling's recent rise as if it's some magic talisman. The rise in sterling is down to a variety of reasons, not least of which is the political situation in Germany, the EU's most important economy, and the fact Germany has no government. This has weakened the Euro, but Germany will have a government in the near future.

Of course, the corollary of this is that perhaps we should threaten to leave the EU every couple of years or so, just to give exports a boost.

Ref yesterday's post about the 'racist' hoodie; seems I was wrong about the parent being on-set (one of the few occasions she was not), but right about the parent not seeing the hoodie as racist. There again, she lives in Sweden, a highly evolved country.


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