6.25.2016

BREXIT: Causes and outlook



Links to articles I found valuable:
  1. Bonfire of the EU laws: From crooked cucumbers to powerful vacuum cleaners, the barmy Brussels regulations we can now get rid of
  2. Eight reasons Leave won the UK's referendum on the EU
  3. Fateful decision to hold vote was 'reached in Chicago O'Hare pizzeria' while David Cameron waited for flight
  4. 'Why should I do the hard s***?' Cameron 'told aides he'd rather quit now than spend six months working on Brexit only to hand over to rival'
  5. Liberal Cosmopolitans Lash Out at the Shattering of Their Worldview
  6. Nigel Farage backtracks on Leave campaign's '£350m for the NHS' pledge hours after result
  7. It will take years for the British, Europeans and the rest of the financial world to sort this out. This may not have any long-term impact on your 401(k) or other retirement savings.
My take:

  1. The exit vote was a reaction to unfettered immigration that voters perceive is changing the U.K. Hitherto the EU set the immigration standards. Ordinary Brits opposed that! This point is like the frustrations U.S. citizens have with immigration. (link 2 above)
  2. The exit vote was a reaction to bureaucratic regulations by nameless EU plutocrats / bureaucrats (see links 1 and 2 above)
  3. Cameron overplayed his hand. Why was a referendum even needed?! Obama's "back of the queue" intrusion backfired
  4. Ordinary Brits are tired of supporting the EU. 
  5. Greece and its debt impacted the vote. Greece is a nation of slackers / tax evaders and why be in bed with them?!
  6. It will hurt the U.K. domiciled banks.
  7. It's about state sovereignty
  8. Impact on stocks: I expect a rebound. Many buying opportunities! (Link 7 above)

2 comments:

  1. Given that the "leave" side appears to be the stronger free trade side, I'm actually going to guess this works out well unless Labour wins the next election. Then all bets are off.

    ReplyDelete
  2. The decline of literature indicates the decline of a nation ; the two keep in their downward tendency.
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