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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Can someone explain Brexit to me like I am in fourth grade?

I understand what the EU is.
I understand there was a referendum and the British people voted to leave the EU.

Why did they want to leave the EU?

What I really  don't understand is "deal or no deal".  Didn't they have an outlinei in the agreements when they  formed the EU, how that divorce happens?  A prenup if you will?

So "deal" Brexit is Britain negotiates for some stuff they want in leaving the EU, right?

What is "no deal" Brexit and what are the consequences to Britain?

Thanks.

[/quote]

Yes, article 50 is the exit strategy. [b]The "no deal" Brexit will destroy the British economy[/b] because of the European supply chains. Further, the common boarders with Ireland and to a lesser extent, Scotland would be problematic to enforce. The whole thing was a manipulation by Putin to divide both England and the EU and weaken the G7. There was never a plan to a smooth exit, but this was never discussed or disclosed to the voters. It is sort of like how Mexico was supposed to pay for the wall but now US servicemembers are.[/quote]

It may cause some disruptions but these type of things work themselves out pretty quickly. The markets adjust and people adapt. [/quote]

These are the types of simplistic, bold faced lies that caused Brexit.

They will not work themselves out quickly. Something like 70% of the items in UK grocery stores are from the EU. Those items will not be restocked quickly. Similarly, the price of those items will go up. Essentially, Brexit will be a large tax increase on UK citizens.[/quote]

They are also predicting widespread prescription drug shortages. And all they trucks and ships and cargo planes that now come from the EU and bypass customs with have to stop, and be searched and processed.  There is no plan in place to do this and no infrastructure. So rather than just crossing border, they expect trucks, ships and planes to sit in line for days waiting their turn.  Supplies, like medication and food won’t get into Britain without a huge delay, and huge expense while they pay people to sit and wait.  Any parts of the supply chains for British goods from the EU will become expensive and getting the, will not be reliable.

And the EU can’t let Britain out with a decent deal. If they do, Germany will next in line, and demand the same deal. And the EU will collapse.

This is Putin’s wet dream. And I really wish Trumptwats would quit destroying things it took decades of hard work to build and saying it will all work out or something great will magically appear to fill the void. That’s not the way it works. [/quote]

LOL yes everyone has been sitting around picking their noses since June 2016. You are right the EU does not trade with anyone outside the EU. Oh how will the Brits figure it out? You think with almost 3 years of warning retailers in Britain would be able to stockpile supplies, line up other manufacturers/suppliers, work around import/export red tape? Guess everyone will starve in Britain because they are incapable of getting food from any place but the EU? What do you think will happen if there are shortages? Do you think the government will continue with arbitrary bureaucratic rules stopping food for coming in or will they roll back the rules? The EU will be under extreme internal pressure from business groups losing the British market. Things change and the world goes on.[/quote]

How do you stockpile fruit and fish and cheese? How do you stockpile nurses?

How do you build manufacturing infrastructure from scratch for an industry that operates overseas and there are no trained workers in your country, no trained managers, no trained engineers, no trained builders....? How do you manufacture things affordably within your one small country compared to the price you were getting from companies selling at an international scale in a free market?

How do you get around red tape when the rules haven't been written? When your country has been using EU rules to govern things like internet sales that didn't exist prior to the EU, so there are no local rules to fall back on? And now agreements have to be negotiated with multiple countries that you are going to import and export to?

[/quote]

Your questions all show you clearly have no idea how trade or even the economy works. Trade doesn't stop overnight. Supply routes shift to new ones. They'll import fresh food from Canada if it turns out to be cheaper than importing it from the EU on WTO rates. There will still be goods imported from the EU. There are food imported to the UK from outside the EU as we speak.

The UK is a large country, sixth or seventh largest economy in the world and has 63 million people. It's twice as large as Canada or Australia population-wise, to put in perspective. [/quote]

The problem is not that they won't let things in from the EU. Its that they won't let things in from the EU without going through customs. Anything coming from Canada or anywhere else in the world will also have to go through customs. If you have no customs infrastructure to deal with the fact that over 50 percent of your imports are now going to have to be inspected, taxed, etc. it doesn't matter where they come from. There will be delays and costs. This is not rocket science. Its barely even Econ 101. [/quote]

It also is not only or even mostly about finished goods. Companies have organized and invested in multinational supply chains. Goods could be finished in Britain with components from elsewhere and sold to all of Europe. Now, in most cases, it will not be an option to make all the components in Britain. The better plan will be to relocate the assembly plant to Ireland or Denmark or another EU country that is so dependent on trade that it will never be taken over by protectionists. [/quote]

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