Famed American football coach Vince Lombardi once remarked, “Winners never quit and quitters never win.” This saying suggests that triumph is only for those who push through challenges, while those who surrender face defeat. It’s a catchy phrase, perfect for a motivational poster or a tired marathon runner looking for a last burst of energy at mile 20.
Yet, what of those who persist yet still find themselves losing? Does that make them losers, or perhaps just determined but misguided individuals? Similarly, what about those who remain committed without ever being sure of their goals? Are they merely lost or, perhaps, something else entirely?
Clearly, there are no straightforward answers to these questions, as they largely depend on personal interpretation. Each individual’s perspective is shaped by their unique experiences and values. This exploration serves as a prelude to today’s thoughts.
“Brits Don’t Quit”
Recently, ahead of the Brexit vote, Prime Minister David Cameron distilled the issue of Britain’s independence into a rather simplistic slogan: “Brits don’t quit.” Undoubtedly, he felt a misplaced sense of national pride in making that declaration.
However, it seems Cameron didn’t stop to consider the potential benefits of Britain leaving the European Union. Instead, he simply reiterated the mainstream notion that Brexit would hinder the British economy. But is that truly the case? To gain insight, let’s refer to Russ Lamberti of ETM Analytics.
“Common belief holds that Britain would suffer economically outside the EU’s common market, facing the European Union’s import tariffs as a consequence. However, this viewpoint overlooks significant details. Europe is not a mere ‘free trade zone,’ as zero tariffs alone do not define it as such. The EU imposes substantial import duties, which contradicts the essence of free trade,” he explains.
“Moreover, trade within the EU is burdened by rigorous regulations concerning standards, safety, labor, and logistics. The Union also practices significant industry protectionism, especially in agriculture, culminating in higher prices, reduced efficiency, and diminished competitiveness. A Brexit would enable Britain to challenge this restrictive protectionism.”
“Concerns have been raised about the impact of stricter immigration policies potentially making Britain’s economy less dynamic. While this may be true if such measures were enacted, the British are inherently not isolationists.”
“With London acting as an international hub, Britain’s economy relies heavily on global integration. A Brexit might actually provide the opportunity to implement a balanced immigration policy, allowing for greater national control that doesn’t detract from its economic vibrancy.”
As of this writing, it seems the British people have chosen to leave the European Union, a decision echoing a desire for autonomy. If these preliminary results bear out, this will be celebrated by anyone who values freedom.
Quitting the Cucumber Affair
The reality is that smaller, decentralized governments often provide the best environment for safeguarding individual freedoms. By ceding economic authority to bureaucrats in Brussels, Britain had to comply with ludicrous regulations. While some of these rules seem trifling, collectively they impose significant restrictions.
For instance, did you know the EU mandates that bananas and cucumbers must be “free of abnormal curvature”? According to Regulation No. 1677/88, cucumbers categorized as “Class I” can only bend at a rate of 1/10, with “Class II” cucumbers allowed to bend twice as much. Any cucumber exceeding this curvature is rendered unsellable.
The rationale behind such regulations remains unclear. Do bent cucumbers harbor harmful bacteria? This absurdity is just one of many bizarre EU rules.
Additionally, a restriction enacted in September 2014 limits vacuum cleaner sales to those consuming fewer than 1600 watts. This restriction will tighten further in 2017, allowing only models under 900 watts. Furthermore, from 2017 onward, vacuum cleaners will need to display an energy efficiency label graded from A to G, with A on a green background denoting low energy use and G on a red background signifying high energy consumption.
The benefits of these regulations remain ambiguous. Do they save the planet? Furthermore, the meanings of labels showing A on red or G on green are unclear.
Other nonsensical EU regulations include: forbidding bottled water from suggesting it hydrates, outlawing the sale of prunes as a laxative, and requiring eggs to be sold by weight rather than by the dozen. The list goes on. This is merely a glimpse of the overbearing regulations that Britain has decided to reject.
In the coming weeks, we will see how valid the fears surrounding a potential financial crisis triggered by Brexit truly are. The reality is, alea iacta est – the die is cast. Whether a financial collapse looms is independent of Brexit.
The Brexit may act as a catalyst, but it is not the root cause. The inevitable economic downturn predominantly stems from decades of cheap credit fueled by central banking practices. No amount of cucumber monitoring or vacuum cleaner grading in Brussels can alter this fundamental truth.
Sincerely,
MN Gordon
for Economic Prism