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Money is not everything. Control and immigration control are the important things, however the majority of the immigrants from 3rd world countries enter the UK due to the commonwealth agreements, not due to the EU. You will continue having those, but will lose hundreds of thousands of paying taxes educated European immigrants. Way to go!
You mean Bulgarian gypsies their own country can't believe they've seen the back of? Those gangs of Romanian pickpockets, trained from childhood? Those Eastern European Pimps importing poor girls, also running drugs? Those tax payers?
What is so hard for folks to understand? We can't carry on with current levels of immigration. It's as simple as that. We haven't got massive plains waiting to be turned into farmland by eager immigrants.
We have a housing crisis here of epic measure. Something had to give.
As for immigrants from 3rd world countries. Well, once we're out of the EU, our new Prime Minister will have to explain why such immigrants are allowed into my country. We want to know why, and we will want answers. Plus once we're out, other EU countries, that hand out passports to immigrants like candy...... those 'new' citizens won't be able to come to my country, and then stay as they do, without a visa.
And we've kicked the can down the road about as far as we can. There is a reasonable good chance that we will have a great depression kind of event. A reset is going to happen.
Possibly the UK, not the USA. Not a 'great' one at least. IMO of course.
The EU reminds me a lot of the USA pre the constitution. It's just a loosely bound league of states with very different viewpoints, mainly focused on regulating trade. In it's current form it is not sustainable to handle a real crisis and the refugee crisis has revealed that. If Russia started invading Eastern Europe it would be equally inept. The EU will either reform itself into sustainability or it will go the way of the dodo bird.
The money union without the political union has doomed the EU to failure from the start. Now if Russia's actions unify the EU into one political entity, then they would be cooking with real gas!
There are several ways that our current situation can play out. Hyperinflation is one of them, Deflation with high unemployment is another, A stagnant growth middle ground until we hit a session is what we are getting.
But we are on an exponential growth in national debt curve and that needs to be reset.
Over time I would anticipate more debt vs more GDP. Just not exponential.
Right now our GDP and debt are about equal. In 100 years it will 'look' worse. To most people.
But not worse to the owners of the other side of the balance sheet. And definitely not worse to those who realize that deficit spending has created their job, improved their lot through education or saved their life through HC.
Over time I would anticipate more debt vs more GDP. Just not exponential.
Right now our GDP and debt are about equal. In 100 years it will 'look' worse. To most people.
But not worse to the owners of the other side of the balance sheet. And definitely not worse to those who realize that deficit spending has created their job, improved their lot through education or saved their life through HC.
What happens when interest rates go up? A 5% yield on federal debt would put the interest payments at 5.25% of GDP. That is $0.960 trillion or it would triple our current deficit if we don't have more tax revenue or cut spending.
That would put us at an 8% deficit in terms of % of GDP. And that is only looking at interest on national debt not anything else.
The current low interest rates aren't long term sustainable.
The Leavers don't care if their first industry collapses. They will have control over their misery and they will be join only by Indians, Pakistanies and Nigerians, no European allowed in the pity party!
The Leavers have no problem with even higher taxes and fewer jobs.
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