Brexit - Should they stay or should they go?

So how low can the Pound go and what will that mean for British Import/Export? Will the low pound create enough jobs to offset the increased cost of imports?

We're about to become a great place for you guys to come for a holiday.

The following link has a five year chart of the Sterling vs the US Dollar:British Pound to US Dollar Exchange Rate Chart | XeThe pre-Brexit high was 1.69 to the US dollar. The downward trend started around 2014 to 2015. Which I believe was when they announced the Brexit referendum. And of course, it cratered when the vote occurred. And is now trading around 1.22 to the US dollar.Some of this is also attributed to the strengthening of the dollar post the Great Recession. But still, a pretty massive drop considering how strong the currency was at the peak.

I'm focusing on buying everything I want from the UK in the next few months, while the pound is cheap and before there are any customs dues.

A cheap coin is usually good for business that export products or commodities. IIRC fuels, beverages, tobacco products, and materials were the major categories. But other than the US, the major importers were EU nations.But again, IIRC UK imports were almost double the exports.As has been the case for at least several hundred years the UK relies on imports for its very existence.A lower pound would make all imports more expensive even ignoring tariff issues. It will make exports more attractive even ignoring tariff issues.Can the UK increase exports and also reduce the demand for imports to at least keep the economy relatively stable?If so, how?

I think the answer might be yes and no.Depending on the commodity, a weaker pound might incentivize investment in local production of a particular good or service since it now becomes more economically feasible to produce that locally. But I think you can only take that so far.There are a great many consumer staples that simply can't be produced in the UK. Various produce and fruits for example. I don't know the full details to articulate exactly how that would play out. But regardless, its not like anyone can flick a switch overnight and suddenly start producing more goods and services on a whim. So in the near to medium term, an import economy like the UK will get a double whammy from a lower sterling and potentially, tariffs.I am wondering if Boris is thinking he will flip a proverbial F U to the EU and start importing more from Canada and the USA. That could offset the tariff issue if he negotiates some deal. Trump would of course love that. But even still, the weaker pound would still make that expensive. Maybe slightly less so since the US dollar is a little weaker than the Euro.And can someone smarter than me explain how they will fix the Irish border?

I don't qualify but let’s see ...

They could do away with a land border altogether by annexing Ireland and thus start a war.

They could do away with a land border altogether by ceding Northern Ireland to Ireland and thus start a war.

They could control the Irish border like any other which would violate of the Good Friday accords and thus start a war.

They could leave the border free and open defeating a major reason for the Brexit vote and thus start a war.

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Hmm I think they’re fucked.

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Eschew obfuscation. Habituate elucidation.

They need a WALL.Edited by jar, : spallin

Agreed, they really didn't consider this at all.this twitter thread show the absolute impossibility of any "technology" managing the British border in Ireland. Edited by Heathen, : No reason given.

I may be asking a silly question, but why wouldn't Northern Ireland and Scotland form their own UK (capital in either Belfast or Edinburgh). Northern Ireland has to go this way because of the risks associated with a hard border with Ireland just for their own peace and tranquility. Scotland's been unhappy with the UK and nearly voted to withdraw a few years ago, and I'm guessing that when Scotland says they're unhappy with the UK that they really mean England and Wales, not Northern Ireland.They'd need to work out trade/immigration/military deals with Wales and England, but wouldn't that be preferable to walking down the no-deal Brexit path? And they'd have open borders with the rest of the EU, and it would just be England and Wales walled off in their nice comfortable little realm of passport carrying citizens.--Percy

Because the population of Northern Ireland is comprised of two (main) factions
Unionists: Staunchly Pro-Union, Loyal to the Crown.
Nationalists: Desiring reunification on the Island of IrelandA union with Scotland would be against the wishes of both of these two factionsEdited by Heathen, : No reason given.

Well, here's another silly idea, then. Scotland and Northern Ireland both leave the UK. Scotland's leaving makes sense because they almost achieved it a few years ago, and now it makes even more sense. Am I right to assume that as an independent nation newly outside the UK that they'll have to apply for EU membership? If so they might want to time their exit from the UK to coincide with their admittance to the EU.Northern Ireland's leaving will be a close thing, but at least some Unionists will see the danger of a hard border with Ireland as greater than parting with the UK, and Sinn Fein and the Social Democrat and Labour Party will tend toward parting, also. Again depending upon the details of entry to the EU, Northern Ireland may want to delay exit from the UK until they're admitted to the EU. Northern Ireland will do a long dance with Ireland that possibly results in eventual reunification, though if reunifying with Ireland automatically makes them an EU member then that could accelerate the process.--Percy

Scotland, maybeBut Northern Ireland leaving the UK will end in civil war.

Hey, they could all (England, Wales, N.Ireland and Scotland) seceded from the UK and join the EU en masse.

Ireland could even secede from the UK and retain connection to the Monarchy as have so many other of the British Colonies.