Brexit and the waning days of the United Kingdom

[The Minsky Moment]

Brexit is still bound to be an absolute disaster for the poor but it looks like it might have upsides afterall for those with desirable skills.

It won't be - the chances of getting a bigger pie slice may increase but the size of that pie is going down.  London's ability to maintain a high concentration of high-end legal work is a function of network economies that Brexit is disrupting.  There's a value to clients if the same place that does their transactional work can provide specialized advice on (e.g.) OAS jurisdictions.  But the people that provide quality advice are all in Madrid, it's just an extra phone call. 

[Iormlund]

Brexit is still bound to be an absolute disaster for the poor but it looks like it might have upsides afterall for those with desirable skills.

Those are already employed. Of course the UK could train hundreds of thousands of nurses, doctors and engineers in the coming years, but that takes a lot more time and money than simply outbidding someone who already did so. And you need kids to go to nursing, medical or engineering school ...

[Tamas]

Brexit is still bound to be an absolute disaster for the poor but it looks like it might have upsides afterall for those with desirable skills.

Those are already employed. Of course the UK could train hundreds of thousands of nurses, doctors and engineers in the coming years, but that takes a lot more time and money than simply outbidding someone who already did so. And you need kids to go to nursing, medical or engineering school ...

To paraphrase a lot of government officials, what is needed is more positive attitude toward Brexit. This defeatism just won't do! Will it, and Empire 2.0 will come!

[Josquius]

Brexit is still bound to be an absolute disaster for the poor but it looks like it might have upsides afterall for those with desirable skills.

Those are already employed. Of course the UK could train hundreds of thousands of nurses, doctors and engineers in the coming years, but that takes a lot more time and money than simply outbidding someone who already did so. And you need kids to go to nursing, medical or engineering school ...

As said, society as a whole is fucked.
But if you've got in demand skills then you can watch the streets burn from your penthouse paid for with the massively artificially inflated wages you're now enjoying.

I doubt I will be amongst the winners of course. My eye is on Dublin.

[garbon]

But if you've got in demand skills then you can watch the streets burn from your penthouse paid for with the massively artificially inflated wages you're now enjoying.

With your devalued currency?

[Iormlund]

But if you've got in demand skills then you can watch the streets burn from your penthouse paid for with the massively artificially inflated wages you're now enjoying.

It doesn't work that way. I'm in the 90 percentile. Someone in my position will be in a similar place in the UK. We don't need to work overtime to live comfortably. Most of us would rather get home to see our friends, families or even play videogames than stay doing overtime because Lazlo, Pepe and Piotr went back home.

[Tamas]

Latest data shows British exports to EU increase, exports to outside of EU decrease:
https://www.theguardian.com/business/2017/sep/08/uk-exports-eu-weak-pound-trade-europe


To quote one of the comments: these blue passport covers had better be really fucking impressive!

[Josquius]

But if you've got in demand skills then you can watch the streets burn from your penthouse paid for with the massively artificially inflated wages you're now enjoying.

It doesn't work that way. I'm in the 90 percentile. Someone in my position will be in a similar place in the UK. We don't need to work overtime to live comfortably. Most of us would rather get home to see our friends, families or even play videogames than stay doing overtime because Lazlo, Pepe and Piotr went back home.

I don't get it.
Companies having to pay top people more would also tie in with having to give them better conditions in general.

[Tamas]

There is no economy that has ever benefited from closing itself from new talent coming in. None.

[Josquius]

There is no economy that has ever benefited from closing itself from new talent coming in. None.

And Britain won't be the first.

[Iormlund]

But if you've got in demand skills then you can watch the streets burn from your penthouse paid for with the massively artificially inflated wages you're now enjoying.

It doesn't work that way. I'm in the 90 percentile. Someone in my position will be in a similar place in the UK. We don't need to work overtime to live comfortably. Most of us would rather get home to see our friends, families or even play videogames than stay doing overtime because Lazlo, Pepe and Piotr went back home.

I don't get it.
Companies having to pay top people more would also tie in with having to give them better conditions in general.

To put myself forth as an example:

I'm in charge of manufacturing processes for certain product. Projected sales are around 300 million € give or take. Had I not been hired, either my colleagues would have had to work overtime to compensate (and then you risk losing them), or the company might decide not to bid for the contract and around a hundred million €s worth of blue collar workers would be laid off (plus impact on local suppliers).

I'm just one guy, Now imagine what happens when a sizable portion of your highly skilled vacancies are not filled.

[Zanza]

You know how those Global Britain Brexiteers want to make Britain into the Singapore of the North Atlantic? Well, Singapore has massive foreign immigration of skilled and unskilled labor. But then Theresa May wants to reduce immigration a lot to placate the UKIP wing of her party. So there seems to be a severe confusion about the vision of Britain after Brexit...

[Valmy]

Can what works for one city translate to an entire nation?

[Zanza]

Not really. Singapore is the financial and logistics center for the ASEAN region with its 600 million people and has always been open for trade and immigration. Britain is just leaving its market of 450 million customers behind. Singapore also has very heavy handed state intervention into its economy that would not be palatable for the proponents of Global Britain.

[Tamas]

Not really. Singapore is the financial and logistics center for the ASEAN region with its 600 million people and has always been open for trade and immigration. Britain is just leaving its market of 450 million customers behind. Singapore also has very heavy handed state intervention into its economy that would not be palatable for the proponents of Global Britain.

That is not red white and blue talk, mister!