Which is why the pound went down today when May postponed the vote. Her ostensible reason - to go talk to the EU and get better terms - is delusional. The EU has no interest in helping her, especially at this stage. They, like everyone else, wants her to f*ck off. There was a fair chance that today's vote would have been so disastrous that she would have been forced to f*ck off, in which case other more pleasant options come into play. All she has done is delay those better options.
The path forwards
There are many scenarios from now. Here's my most hopeful one: the vote occurs and goes badly for May. She is forced to resign, and either some vaguely sane leader takes over or perhaps with the leadership weakened the MPs reassert themselves- unlikely I know, they are spineless disorganised and useless, but I can hope. And since we can just rescind article 50, we do so.
Given the cowardice of our MPs, I think my "hopeful" scenario somewhat unlikely; which makes the next-best another referendum, with all the perils of what-should-be-the-question(s); but it would probably work.
The Brexiteers impartially consider'd
Although I voted remain, I have some sympathy for some of the Brexiteers programme: the portion that is Free Trade and freedom from over-regulation. But it has become clear that they are incompetent to achieve these aims. The "hard Brexiteer" faction is now shutting it's eyes, wishing very hard, and hoping to get a Brexit at any cost, in order to renegotiate the deal - or simply break it - when the political climate becomes more favourable to them. Or at least that's their plan, but it is hopeless (the only kind of Brexit that makes any sense and that I could support is a Hard one, and the country will never have the political courage for that). And just as Hobbes teaches us that rebellion is only permissible if you can win, so Brexiting in that manner is only permissible if you can achieve your aims; and they can't.
To be fair, the incompetence is not limited to their side: the Remainers and the Soft Brexiteers and (IMO) the EU are also incompetent; but that's rather the point: there's no-one around competent to negotiate a change of this magnitude.
I'd rather not. It is slow and error prone. We run a parliamentary democracy, the referendum is advisory, the only thing preventing us from saying "it was a giant mistake, let's not do it again" is the cowardice of MPs.
Is rubbish. But what mystifies me is why she is so dedicated to Leave. Before the referendum she was remain, albeit weakly; she is not a person of any great principle. I can only attribute it to blind stubbornness, which rather fits her image from the Home Office. She still looks to me like a politician - and a person - of no vision, substance, or quality. Her only ability, much touted, is surviving, for which I give her no credit.
Update: 2018/12/12: Brexit in chaos as Tory MPs trigger vote of no confidence in Theresa May.
Update: 2018/12/13: Theresa May survives confidence vote of Tory MPs although "survives" only in May-land.
Update: 2019/01/15: May's shit deal is thrown out by a vast majority. At least one MP - Cambridge's Daniel Zeichner - comes out for just-revoke-A50.
Update: 2019/01/16: That fuckwit Corbyn tries a vote of no confidence and inevitably loses, thereby if anything strengthening "cockroach" May.
James Annan has been predicting Brexit-will-not-happen for a while, and now has a post up with more detail (note: I wrote this post, except for this section, before reading his). Although I think will-not-happen is quite likely, I still fear that our idiots pols could yet by blind stubbornness and cowardice end up leading us over the cliff anyway. But he's been right about a number of things so I'm cheered that he may be right about this too. He's probably right about the value of academics and journos too.
* Boris Johnson is a tosser.
* Boris in the bunker.
* Brits Could Have a Brexit Cake and Eat It Too - not realistic, but the direction of my thinking.
* Devastating Review of Nancy MacLean’s Fictional Work “Democracy in Chains” - CH
* Just blow it all up? - by Scott Sumner, EconLib
* One Year Ago Today, the FCC Killed the Internet