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If Corbyn started to advocate for cancelling Brexit half his MPs would discover their inner swivel eyed Brexit loon. After all, the first thing they did once it was clear that the UK's trade relations with the rest of the world were on fire was the chicken coup. All those fluffy moderates had the chance to dominate the parties position on Brexit, since they controlled most of the apparatus and the membership mostly loath it, but they decided to rather use it to get rid of Corbyn.

Also the UK's MMT faction argues that Labour's economic policy is dominated by pretty bad advice. I wouldn't be surprised if the thinking on the complexities of Brexit is also quite bad. Economics 101 would lead you to expect that the cratering of the Pound would lead to an improvement of the terms of trade. However, Economics 101 is worth shit all. I think Corbyn actually brought that up in a recent speech, the one that was shellacked by the Free Press™ for "touting the benefits of Brexit", where he correctly noted that there were none to be observed, as of now.
Investing too much hope in exchange rate adjustments is not a good gamble to take and I hope they keep an open mind. Though to be fair, it might be the only one available.

by generic on Wed Aug 8th, 2018 at 08:33:13 AM EST
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