Well, I had to look it up in a dictionary, just now, to check what it meant. Been looking for an excuse to use it because it reminds me of Python silliness. Anything to lift the mood.
The starting point of UKIP even I find it hard to find fault with. You join a club fully expecting to get slightly more out of it than you pay in subscriptions because of the synergy of group effort producing more than members ever could on their own (clubhouse, entertaining activities, day trips, whatever), plus you get intangible benefits like companionship, conversation.
Take it to federal level, however, the synergy might still be there but the intangibles don't scale up. If you get back, in terms of infrastructure builds, exactly the value of what you paid in, then what is the point? If the club allows new, poorer members to join then obviously our taxes are going to be syphoned off to pay for upgrading their roads to a standard good enough that French and German trucks can take goods to Eastern Europe. We're far enough away that travel distances would wipe out potential profits. So we're improving some other country's infrastructure to no benefit to ourselves and the people who set up the club (France and Germany) are chuckling at us behind their hands. We could protest about new countries joining but we were outvoted and could not prevent it.
We *should* leave but we will need innovation, to survive: a product that the whole world wants, on the same scale as Apple/Samsung, where non-membership of the EU is not an obstacle to demand.
And no, I don't mean our 'usual', the weapons industry.