Well, I guess they weren't expecting that! Markets around the world start freaking out I shudder to think what the markets will do on election day if Trump wins.
Discouraging to find that the Brits are even more idiotic than Americans. At least polls show that Trump's chances keep going down. At this point I truly doubt he has a chance of winning unless Hillary is indicted.
It's scary. I'm working for a big German company and I also have a British colleague. He's embarassed and terrifyed what's going to happen to him over here. Right now his job is save, but in two years, when everything is done and the UK has left, he has to go back too. In my company there are plans right now about reducing our workforce in the UK by large and bring back the branches to mainland Europe. Now I wouldn't be surprised if that's the end of the UK. Scotland might now have a chance getting out too and return to the EU. And hopefully the EU doesn't back down now. If the UK wants to do business in Europe, I am sure they want to, they have to do it by our rules. Beggars can't be choosers.
It's ironic that the country that didn't want Scotland to leave, is now leaving the EU. If the Scots would have waited with their referundum until this year, they would have left the UK for sure. I guess in a few years there will be a border in Great Britain.
From a purely selfish standpoint, this seems like good news for the exchange rate I'll get in the Eurozone countries this fall when I'm visiting. Overall though, it seems completely unexpected. I only vaguely followed the story since it seemed like it didn't have any real chance of getting approved, so I'm surprised to hear that it went through I have to imagine that this could come up for a vote again. Part of the Scottish referendum assumed that they would remain part of the EU; now that a major component of that has changed, it seems like it would be worthwhile to revisit the question
On a personal level, curious to see how long the pound stays down. We were already planning a trip to London next March/April, so if it stays down enough that the currency exchanges start offering at the lower price, we will be buying our spending cash sooner rather than later. But oh boy. The markets priced in a remain vote not a leave. So it's going to be a rough ride while everyone readjusts. The collateral damage...yesterday the Fed said the major banks passed their "stress test." Looks like we will see how well everyone holds up under real not simulated stress. And this likely puts Scottish Independence back on the table.
The immediate effects are, of course, any Fed hike is off the table and central banks are pledging more liquidity. So for the elite, the gravy train continues. I don't think that is what the British people were going for.
While it's still terrible for the Brits who voted to remain, I think this gives the EU a new chance, because the UK never contributed that much to the EU in the 40 years of existence. They got so many exceptions from certain agreements and so maybe that the EU might be better off now. Until now the only thing the UK did in the EU was cherry picking. It's not about hurting the UK, but they have to be excluded from our single market and the EU has to remain strong and clarify that out is indeed out. Otherwise other countries start the same thing and want to get out. If they want to participate in the single market, like Norway, they have to accept certain EU regulations, which they don't want to. I wish the UK all the best, but honestly I doubt that they will recover soon. It's also terrible that the future of the UK was determined by voters older than 65. Now the Brexit voters can romance about a new Empire, which I doubt will happen.
I'm glad, that we returned from the US before the vote, because the Euro also got hit. And while the exchange rate wasn't that good before either, we got at least on certain days 1.2 Dollars for one Euro. Now it's nearly equal. Now we will order some stuff on Amazon UK as long as the Pound is that weak, and I guess that will stay that way for a couple of weeks.
Listening to progressive talk radio this morning (Sirius/XM 127), the demographics were broken down for the tally. Over 80% of millennials voted to stay. The majority of London voted to stay, as did Scotland and Northern Ireland. So who were the voters that elected to leave? Yup. The same old rural white farts scared of progress and change, who would also be Trump supporters if American. And there were interviews with Brits who voted to leave, who didn't seem to understand what exactly was at stake. But once they understood what leaving the EU entailed, they admitted their votes were wrong. These people listened to the financial lies and xenophobic messaging of the rich white power dudes and believed BREXIT would stop the immigrants from taking over and save the government billions of pounds outside the EU. Yeah. Stupid low information voters deciding on major economic policy who don't have one stinkin' clue about how the world actually works. Just like the Trump supporters.
If I'm not mistaken, Cameron brought that up during the last election for prime minister. That's how he won back then. Some people should think and get informations before they vote! The Bregretters! Meet the voters who wish they'd chosen to remain
There has been a minor right wing/libertarian political party in the UK known as the UKIPs (United Kingdom Independence Party). Over the last several years the party has gained prominence much like the Tea Party contingent of the GOP here in the US. In the 2015 Prime Minister election, Cameron offered up a promise to vote on EU membership as a way to combat the rising influence of the UKIPs and won despite predictions that it would go to a hung Parliament. And unlike many politicians who might have said, "well that was then, this is now." He actually allowed it. And like the GOP, did not understand how angry and scared a certain contingent of voters is.
I probably overestimate UKIPs actual influence, but the race between the Conservatives and Labour party was close.
Imagine if you had said: "It's also terrible that the future of the UK was determined by (female | black | Asian | homosexual) voters" Do older people's votes count less? What if it had been the senior vote that had swayed the election to "remain"? Would it then be "those good seniors, it's a good thing they voted"?
I know what I've said sounds terrible in a democracy. And of course each vote should count the same. I was just mentioning the statistics from the election. Still I find it wrong, that the future of so many young people got decided by people who will not live long enough to see the consequences. Maybe there won't be any and the UK will be better off without the EU, maybe there will be bad consequenced. Only time will tell. And I will say it again, of course each vote shall count the same.
I say yes. It would. Funny you mention how important it is to count all those elderly people's votes. I'm sure the people 17 and under, who could not vote but will face the brunt of the consequences, are delighted to hear how fair-minded you're being about this. If you haven't seen this, this comment from the Financial Times website has "gone viral" and is about as good a summation as you're going to find: This One Paragraph Perfectly Sums up What the Brexit Vote Says About Modern Politics A quick excerpt: "the younger generation has lost the right to live and work in 27 other countries. We will never know the full extent of the lost opportunities, friendships, marriages and experiences we will be denied. Freedom of movement was taken away by our parents, uncles and grandparents in a parting blow to a generation that was already drowning in the debts of our predecessors."
