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 ...
AlthoughI am not on Facebook, I’d love to see the Union Jack on everybody’s profile pictures. :-)
You wrote: “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.”
I think the EU made this becoming a long good bye a lot less likely this morning when they issued their sour grapes communique that the separation should begin ASAP and be concluded just as quickly.
The long good bye scenario was cast by the losers. It is one of the first stages of grief / loss.
The five stages, denial, anger, bargaining, depression and acceptance.
One down and four to go, maybe three?
I’m laughing today. Interested and curious about it all but laughing and I’m only about 35% out of the market. This is a flat year. Things will either get better from here or pretty much fall apart. We are in a holding pattern.
To those with any common sense what so ever the British voters did not “shock” anyone. They did the right thing, period.
Nailed it!
"Well, she’s [Hillary] always misread everything. She’s misread this, and I was surprised that she was so bold," Trump said of his likely Democratic opponent. "The only reason she did it is because Obama wanted it. You know, if Obama wanted it the other way — if he said 'leave,' she would have said 'leave.' She does whatever he wants her to do."
He added: "They're always wrong, and that's the problem with them.".
Devastating.
I’m seeing the five stages of grief at work:
The five stages, denial, anger, bargaining, depression and acceptance.
All the while I’m being greatly entertained by this today and LMFAO!
Can’t wait to hear what Rush has to opine today. I expect he will be eboullent.
If only Obama had the intellectual honesty, the moral courage and the patriotism to do the same after the 2010 or 2014 elections. Oh, yeah, its Obama. Never mind.
They also ignored President Barack Obama
No, they told Obama to sod off.
This is the best of signs, very reminiscent of the 1979-1980 timeframe. Then, Britain and the US were in the doldrums, both economically and from the standpoint of national morale. The external enemy (then the Soviets) was running wild, and there seemed no way to reverse the slide. Then the Brits tossed Labour out on its ass and elected Thatcher. The next year, we tossed Carter out on HIS ass, and elected Reagan. Pray that Brexit and Cameron's resignation similarly presage the election of Trump!!!
The more that each day passes, the less likely Hillary is going to win. There is I sense a growing revolt for freedom happening.
We hope, we always hope. I just wonder what the october surprise will be? They always have one and the good guys never do. Maybe this time it will be different.
I’m always careful of myself becasue we so often see the world as we want it to be instead of the way it really is.
Yes, the pundits always try to cause alarm and panic in the markets to get website hits, sell newspapers or get viewers and listeners. Meanwhile, Exxon, Chevron, Coca-Cola, Apple, Cracker Barrel, General Mills, AT&T, Verizon and thousands of other publicly traded companies are still making products, selling goods and services and making profits. Nobody is declaring bankruptcy or going out of business.
The world will settle down.
The Leftist media was believing their own predictions and “hopes” again and reality upset their apple cart.
Same thing happening here, Trump will skunk Hitlery in a landslide.
YAY! This was a referendum on liberal globalism. Everyday people have suffered the bite of reality actually, while elitist politicians have intentionally removed themselves from the effects of their misguided, naive, and downright evil attempts to create a government controlled utopia. We are all sick of it! I would not be surprised to see the governments of the West fight the will of the people every inch of the way through every means available— just as Jefferson predicted.
I’m seeing the five stages of grief at work:
The five stages, denial, anger, bargaining, depression and acceptance.
All the while I’m being greatly entertained by this today and LMFAO!
Can’t wait to hear what Rush has to opine today. I expect he will be eboullent.
______________________________
Yes, this event is a beautiful thing to watch! :-)
He'd be too worried about losing his Nobel Peace Prize to force Texas' hand. They'd probably walk free and if they said they were going to build some gay or muzzie communities, 0 would probably dump a pile of cash on them.
Carpe Diem
There’s going to be some great bargains out there. Back up the truck.
Politico, you haven’t seen anything yet!
If anything, our trade policies should be based on who is most like us and who is least like us. Those most like us should get free trade. Those nations least like our traditions like the Chinese should not be granted free trade privileges. Yes, trade with the USA is a privilege one has to earn.
Nations like Mexico in my economic trade scheme would fall somewhere in the middle as a nation that kind of is like the USA in institutions but fails at achieving their running to our standards.
Don’t forget Nancy Pelosi and her ilk. They lost too.
Percentage-wise, 600 points are meaningless.
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