Friday, June 24, 2016

Britain Votes to Leave the European Union

In something of a surprise British voters decided to leave the EU yesterday. The vote caused a 500 plus point hit in the US Stock Market, the immediate resignation of British PM David Cameron and began a two year process that will see Britain exit the EU.

England and Wales supported leaving the EU while Scotland and Northern Ireland voted overwhelmingly to remain. After the results were announced nationalist parties in both Scotland and Northern Island began calling for another referendum to leave the United Kingdom.

As for why the so-called Brexit referendum passed. the reasons were primarily centered around immigration, the disaster that many view the Euro as becoming and issues related to British sovereignty and control of its own domestic policies.

Basically it comes down to economic issues and nativism. You know, the same drums that Trump is banging on.

If you're a Trumpette you should be pleased with the Brexit result except of course most Trumpettes are too self centered to even be aware of the situation or at least they were until the media started telling them what a positive for Trump this could be.

Personally I don't think it's going to make much of a difference this November. Americans are far to parochial to let what the Brits or anyone else does have much of an effect on their votes.

Unless of course there is an immediate economic hiccup in the US as a result. That would help Trump immensely. But it sounds like the Federal Reserve is going to try its best to prevent that from happening. How successful they'll be remains to be seen,

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