Best of the Week
Most Popular
1. Trumponomics Stock Market 2018 - The Manchurian President (1/2) - Nadeem_Walayat
2.Yield Curve Inversion a Remarkably Accurate Warning Indicator For Economic & Market Peril - Dan_Amerman
3.China is Now Officially at War With the US and Japan - Graham_Summers
4.Markets Pay Attention Moment - China’s Bubble Economy Ripe for Bursting - 16th Jul 18 - Plunger
5.Stock Market Longer-Term Charts Show Incredible Potential - Chris_Vermeulen
6.U.S. Stock Market Cycles Update - Jim_Curry
7.Another Stock Market Drop Next Week? - Brad_Gudgeon
8.The Death of the US Real Estate Dream - Harry_Dent
9.Gold Market Signal vs. Noise - Jordan_Roy_Byrne
10.The Fonzie–Ponzi Theory of Government Debt: An Update - F_F_Wiley
Last 7 days
Why Oil Prices Fell -- Stockpiles or Price Pattern? - 18th Aug 18
Why The Uranium Price Must Go Up - 18th Aug 18
Land Rover Discovery Sport 90% Motorway Driving MPG Fuel Economy in ECO Mode - 18th Aug 18
GDX Gold Mining Stocks Q2’18 Fundamentals - 18th Aug 18
SPX Losing Gains - 17th Aug 18
What Gold Is Not - 17th Aug 18
Dollargeddon - Gold Price to Soar Above $6,000 - 16th Aug 18
Stock Market Higher Again, Correction Over? - 16th Aug 18
Up Your Forex Trading Game - 16th Aug 18
Large Caps Underperformance vs. Small Caps is Bullish for Stocks - 16th Aug 18
“The Big Grab” - Failing Pension and Retirement System - 16th Aug 18
How US Indo-Pacific Vision Forgot Asian Development - 16th Aug 18
Impulse Moves in the Currencies - 15th Aug 19
Best Merlin UK Theme Park Summer Holiday 2018 - Thorpe, Alton Towers, LegoLand or Chessington? - 15th Aug 18
The Essence of Writing an Essay that Must be Understood - 15th Aug 19
Is Solar Energy Rising From The Ashes Again? - 15th Aug 18
A Bullish Bond Argument That Hides in Plain Sight - 15th Aug 18
Jim Rogers on Gold, Silver, Bitcoin and Blockchain’s “Spectacular Future” - 15th Aug 19
A Depressed Economy And A Silver Boom - 15th Aug 19
Moving Averages Help You Define Market Trend – Here’s How - 14th Aug 18
It's Time for A New Economic Strategy in Turkey - 14th Aug 18
Gold Price to Plunge Below $1000 - Key Factors for Gold & Silver Investors - 14th Aug 18
Dow Stock Market Trend Forecast 2018 - Video - 13th Aug 18
Stock Market Downtrend to Continue? - 13th Aug 18
More Signs That the Stock Market Will Rally Until 2019 - 13th Aug 18
New Stock Market Correction Underway - 13th Aug 18
Talk Cold Turkey Economic Crisis - 13th Aug 18
Which UK Best Theme Park - Alton Towers vs Thorpe Park vs Lego Land vs Chessington World - 12th Aug 18
USD is Rising. What this Means for Currencies and Stocks - 12th Aug 18
Hardest US Housing Market Places to Live - Look Out Middle Class - 12th Aug 18
America’s Suburbs Are Making a Comeback - 12th Aug 18
Stock Market US Presidential Cycle, Seasonal Analysis and Economy - Video - 12th Aug 18

Market Oracle FREE Newsletter

Trading Any Market

Why the SNP WILL Destroy Scotland, Exit UK Single Market for EU - IndyRef2

Politics / Scotland Mar 19, 2017 - 04:36 AM GMT

By: Nadeem_Walayat

Politics

The SNP have declared that their primary reason for demanding a second Independence referendum barely 2 years on from the last 'once in a lifetime' referendum was as a consequence of the UK intending to LEAVE the European Union including exiting the EU Single Market.


Therefore the SNP are seeking protect trade with European Single Market comprising of exports totaling £12.3bn, 8% of the Scottish economy. The disruption of which the SNP sees as being disastrous for the Scottish Economy. Therefore the SNP is seeking to EXIT the UK and ENTER the EU single market in pursuit of protecting this £12.3 bln of trade with the EU, whilst making unsubstantiated statements that the EU will welcome Scotland into the EU with open arms and thus it would not be necessary for Scotland to actually leave the EU. However these SNP hopes have not been matched by statements out of the EU whose member states fear their own Scotland's demanding their own independence referendums and thus have stated that Scotland would need to apply for membership of the EU.

However, the SNP are deliberately hiding the big elephant in the room consequence of Scotland Exiting the UK from the Scottish people, which is that Scotland would LOSE access to the UK SINGLE MARKET, one of Scottish exports worth more than £55bn to the rest of the UK, 36% of the Scottish economy, and more than four times the amount of Scottish exports to the EU.

Therefore the SNP in seeking to protect £12.3bn of exports to the EU, 8% of the Scottish economy, seek to sacrifice £55bn of exports to the UK, 36% of the Scottish economy, demonstrates that the SNP's argument for Independence is wholly based on spite, determined to disrupt the Brexit negotiations with the ultimate objective of destroying the United Kingdom at any cost to Scotland AND the UK. If this is not fundamentalist fanaticism, then what is it? For the arguments put forward by the SNP based on trade and access to markets does not stand up to any close scrutiny. The SNP's propaganda is akin to Trumpism, based wholly on a fake reality.

Scotland losing access to the UK single market would be near FIVE TIMES as damaging to the Scottish economy then Scotland losing access to the European single market. And this is before one considers the fact that an Independent Scotland would have NO currency, which means Scotland would immediately need to to adopt the Euro without any transitional period, that is even if the euro-zone would allow such an destabilising event to take place.

Scotland would have NO £12 billion annual subsidy from the UK, and there is no way that the EU would pick up this annual bill, seeking to replace the UK a net £11billion contributor with an net £12 billion recipient, it will never happen in reality only in SNP fantasy.

Therefore just as my analysis in the lead up to the September 2014 Independence Referendum made clear that Scotland would NOT survive an Independence Referendum vote outcome and therefore what the SNP, Scotland's Donald Trump's in their fake reality zeal are seeking is the defacto destruction of the Scottish state.

More in my recent analysis -

14 Mar 2017 - SNP Declare Scotland to Commit Economic Suicide Early 2019, 2nd Independence Referendum

And the following video on SNP fanaticism.

Scotland Second Independence Referendum War

The bottom line is most Scots are rational and based on rational thought are unlikely to vote to commit suicide. However the SNP in pursuit of their I.S. ideology in the meantime can do huge damage to the UK as they attempt to subvert the Brexit negotiations and ultimately kill the United Kingdom.

Also ensure you are subscribed to my always free newsletter for my next in-depth analysis which will be on what Game Theory says Britain Should do following triggering of Article 50.

By Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2017 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 25 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Housing Markets Forecast 2014-2018The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules