Posted on 06/24/2016 7:39:13 AM PDT by mandaladon
LONDON — British voters didn’t just shock the world and the financial markets by voting to leave the European Union hours ago: They also ignored President Barack Obama, handed Hillary Clinton a potential economic burden and injected new energy into the populist currents roiling politics on both sides of the Atlantic.
The surprise 52 percent - 48 percent result in favor of leaving the European Union — which British networks projected just before 5 a.m. local time — came after a tense night of vote-counting throughout the United Kingdom. British Prime Minister David Cameron later announced he's resigning, citing a need for "fresh leadership." The British pound rose and fall rapidly as the anti-EU “Leave” movement piled up big margins in the northeast, swamping wins by the “Remain” camp in London, Birmingham and Scotland.
In addition to driving down the pound by nearly 10 percent, the vote slammed global markets, with shares in Asia down well over 3 percent in early trading. Futures markets also indicated a big swoon coming on Wall Street early Friday morning with shares expected to drop more than 3 percent. That would amount to a Dow drop of close to 600 points, a plunge frighteningly reminiscent of the 2008 financial crisis.
Market analysts struggled overnight to reckon with the potential global impact of the Brexit vote. "Massive institutional uncertainty is now being superimposed on economic fragility and financial fluidity," said Mohamed A. El-Erian, chief economic adviser at Allianz.
Central bankers and heads of state around the world sought to calm the financial markets and limit the damage from the vote on Friday morning.
(Excerpt) Read more at politico.com ...
I hope Texas finds the inspiration from this instance to begin secession.
“The Brits have a longer history of being ruled by foreigners, and they don’t like it.”
Yeah, we’ve only had that experience for going on 8 years now.
YES THERE IS!
A revolt Democrats and the Paul Ryan, Joe Scarborough, GOPe types totally missed!
The real enemy within.
re: “The larger issue for the Clinton campaign will be potential economic fallout from the UK’s decision to leave the EU. Indeed, if the apocalytpic economic predictions leading up to Thursday’s vote turn out to be accurate, get ready for a Brexit-fueled economic slowdown that could bleed into the presidential race.”
I am going to call BULLCHIT on this one.
I fully expect the stock markets to drop a little and British pound to take a short term hit. BUT I expect both to be short lived.
I still do not trust the American Stock Market. I think it is being artificially propped up by the Regime.
I Fully expect the Pound to rebound in short order and be even stronger over the next year.
With that in mind, I would suggest anyone importing British goods from the UK to stock up now, while the price is right.
He's probably just rolling out of bed now and learning the news.
From my own point of view, without the EU issues themselves and the blatant lies coming out of Downing Street , it was the disgusting treatment of The Donald and the final intrusive insult from O’barry that sealed the deal for me.
I find Democrats and RINOs very revolting.
And in a special way aftter what happened in the House with those big Dem crybabies.
The drops in 2008 were triggered by financial events. This drop was triggered by a political event. While the immediate reactions are similar, the mid to long term reactions can be quite different.
Look at it this way, WWIII was not declared. No cities vaporized, no tanks rolling. Everything will be like it was come monday morning as we see how politicians handle this. Will they listen to the people? How often have they in the past might be a guide. They are already saying it will take 2-4 years to make an exit happen. Read that as we have 2-4 years for another vote.
Had this been a financial problem, say like in 2008 where liquidity became a severe problem, we would see different trading, mostly down, until it was apparent the liquidity panic would be contained. Up from there.
My long winded comment saying I’d be careful to not day trade this market and especially not trade on borrowed money.
So far as I am concerned a buying opportunity is passing. The dow is down less than 400.
Politico is going to have to hurry to spread panic on this one as they have tried to do already.
Yeah, I call bullchit and a goodly dose of horsechit to go along with it. All press and talking heads want a limelight. The loudest and most sensational mouth seems to get all of the attention.
Good point. If Obama & Hillary denounce Brexit, that does her no good in November. They don’t like this one bit.
Maybe they’ll criticize Trump for being in Scotland & spreading his bad vibes throughout the British Isles. Undue influence, yeah, that’ll work.
;^)
Politico ;)
ahh, I love the smell of pundit fear in the morning!
——handed Hillary Clinton a potential economic burden——
I can accept much of the rest of the article but don’t understand why the event in UK is an economic burden for Hillary.
Trump chose the right side of the issue and then was in Scotland where remain was in favor to chose very wisely not to make a strong pronouncement.
It occurred to me that the global meltdown over the Brexit vote will effectively Trump (pardon the pun) any move by bammy and hitlery to cause an economic crisis right before the election. The economic crisis is here now apparently, and several months before it might have benefited the demonrats.
Damn right it is...
So far as I am concerned a buying opportunity is passing. The dow is down less than 400 as I write.
Politico is going to have to hurry to spread panic on this one as they have tried to do already.
I call bullchit and a goodly dose of horsechit to go along with it. All press and talking heads want a limelight. The loudest and most sensational mouth seems to get all of the attention.
This financial emotion will pass. Probably soon but we still have more to go this year. I sincerely hope that the overt rejection of socialism and all that goes with it will only continue to grow in depth and breadth and that it will infect enough people in the United States to get us back in the mode of Borders, Common Language, Common Culture, Exceptionalism and a positive Vision. My most fervent hope though is for a rejection of freaks, filth and perversion and just a little start to moral God respecting if not fearing leadership.
If shillary is elected the deal is all over. Life has been one big downer for the last 7 years. It won’t be worth spit for freedom loving people if she is elected.
Aren’t you shocked that he has not mouthed off already? I am.
I thought by now he would have interrupted all media for an announcement to protect his legacy.
Where is shillary? Have not heard a peep from her highass all day.
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They are having a major conference call. Maybe another 60’s sit-in....nah...that didn’t work so well. HA!
Look back to the 60’s for what the dems will do next to divert attention away from how popular Trump is with the “real” Americans.
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