'Brexit Is Stupid,' Says Peterson Institute's Posen

No serious person thinks it's a good idea to leave the EU simply so the UK can "do its own trade deals". You're talking about leaving the most sophisticated free trade relationship in the world with 31 (EU27+4) states on your doorstep including most of your main trading partners, scrapping EU free trade deals with around 50 non-EU states overnight (e.g. Japan, Mexico, Canada) and then going off and somehow trying to replicate this despite the fact you have far less leverage than the EU did when it negotiated these deals as you're a smaller economy. Stupid is absolutely the right word for that. And even the people who make this argument don't believe it. It's just a soundbite Brexiteers came up with because it sounded superficially appealing to voters when they were campaigning. We now have a government throwing its own citizens' interests down the drain to pay lipservice to a silly campaign line everyone knows doesn't make the slightest bit of sense.

We were lied to. The ones who realised what the consequences would be were accused of creating project fear. Sadly the consequences are as predicted are coming true. We rejected our ties with a large trade block on our doorstep and ejected part of the labour force by ending freedom of movement. As of September 2021 the resulting problems are compounding week by week, and the govt. refuses to do anything to stop, or even slow, the decline. £2 billion reduction in EU/UK trade in six months has to be a portent of disaster.

Brexit is stupid, so true!

This aged well :))))

UK has shot itself in both feet

Three years later, Adam Posen has been proven right in his predictions.

Feel sorry for UK. Brexit was a big mistake.

Is he saying that 17M+ voters are stupid? The fact that 17M+ viewers watch Love Island is just a horrible coincidence. (Not my own work!)

Yes, Brexit is truly stupid... but the question is, 'who is truly stupid to believe or admit on a public forum that they were 'stupid' enough to vote for it... I suspect there will be a few....

July 2021 and his words couldn’t ring truer. Especially about the Northern Ireland protocol

This guy is knowledge no bull.

David Cameron needs to go to jail for treason...

Thank you for a big chunck of your banking business, says Frankfurt :-P

Brexit is stupid, but the arguments for Brexit weren't. They appealed tl the lowest of the low feeling, yet the Remainers tried to talk sense into Brexiters. That was stupid, using Posen's parlage. Never has "taking sense" worked with stupid people. You should have told Brits "you'll be waiting for an hour at the border" and "forget your holiday home in Spain". That would work miracles.

Good wine: even better with years...

Posen talks sense brexiteers need to listen as this is not a game. People’s jobs are on the line. Peace and stability in the UK is also on the line.

7 months ago and prophetic.

Big big mistake

What blows my mind is that the single market - with all of its associated rules and regulations that we're supposed to hate And the free movement of goods, services, capital, and labour - which we're also supposed to hate Were all the brain child of Margaret Thatcher and her free market ideology. But this fact - and it is a fact - read her speeches campaigning for the single market back in the 80's - has been revised from the minds of right wing brexiteers to the extent that she is now viewed as some kind of eurosceptic collossus which she never was. And thus we have the massive dissonance between a conservative voter base who (mostly) want us to leave - and a conservative party who really doesn't want to

As Barnier was telling yesterday: Canada or South Korea. He said Britain made its choices and the EU 27 too. The council wants the damage caused by Brexit to be minimized. I fully do agree! By the way ... I am getting fundings too :-)