BBC on Brexit

In case you haven't heard - United Kingdom voted to leave European Union in a referendum.

This was a result of anti-establishment and anti-globalization sentiment within UK electorate that cared little about anything other than sticking it to the establishment that they felt was screwing them over. I am certain couple hundred years ago it would have ended with guillotines. The same sentiment that contorts US politics right now.

I personally think this has a chance to end globalization everywhere. Especially if UK is quickly followed up by second and third acts elsewhere.

Well, the establishment was in fact screwing them over. Honestly, good for the Brits. They might still be screwed by going it alone, but they were certainly screwed had they continued acting as an appendage of German and Belgian interests and dumping ground for refugees. Social welfare states cant have open borders, unfortunately for Europe noone has bothered to tell
the European Council.

I think this is the end of the UK as we know it. Northern Ireland and Scotland are going to bail.

Yep.

Still, I think there is a non-zero chance UK will not back out in the end.

If you put in an idiot as PM like they are planning, it will happen anyway.

I find it amazing how the coastal media has managed to spin devolving legislative authority back to sovereign localities as somehow a bad thing, whether in regards to UK leaving the EU
or various components leaving the UK. Centralization of power rarely ends well. Of course it's a mixed bag, like most things it is neither wholly positive or negative. But as we saw with the
EU's treatment of Greece, it is clear the EU apparatus primarily concerns itself with the well-being of northern European banks and multinationals - and the political fortunes of Germany's
ruling party.

Divorces are often painful, but that doesn't make them wrong.

Europe has become increasingly moribund in recent decades - there is a reason no disruptive businesses or startups flourished. It has also seen drastically increasing social tensions and
strains on infrastructure due to unlimited immigration. Brussels does in fact engage in an enormous amount of micromanaging, and procedures to fix flawed regulation scant exist. The EU is a fundamentally statist existence, and the direction western society in general is moving is the wrong one.

I predict there are multiple economic consequences to this. I have been reading, and this is bad for the UK and the EU.

There probably won't be a UK for long.

That's what many are saying, yes. But keep in mind most of those voices also said that bailing out Wall St was good, that invading Iraq was good, etc. Regarding the Wall St bailouts in particular, note how the Fed still has what in any other time would be emergency measures in place just to avert impending crisis. Being overly terrified of the problem in front of their nose, the underlying issues were avoided and now we are even deeper in the hole, praying the chickens come home to roost later rather than sooner.

In short, it's easy to get large segments of the media riled up about fear-mongering over a given angle, regarding pretty much anything. Principled objectivity is in short
supply these days.

Really, it's up to the Brits as to whether it will be good or not in the long term. If they respond to the circumstance by cleaning up their act and being responsive and basically doing
a better job at governance than the EU, it might be very good. They still have their own currency, as well as the Commonwealth. If they make a muck of it, it could turn out poorly.

Self-governance is just that. Now they will have control over their own policies again, and by the same token will have no one to blame but themselves if things go poorly.

I believe they were very autonomous even in the EU. The information I have read about the economic consequences seems legit. I don't think the populous did they research which resembles Trump supporters here in the US.

I don't think the breakup of the UK was what they had in mind. Time will tell, but it looks pretty grim in my opinion.

Lets follow this to a logical conclusion - small 'local' fractured governments that no longer have an effective way to stand up to multinational corporations or totalitarian regimes.

I personally think Brexit was Russian special op, they are the clear winner in this.

What you read (and I can guess because I have read most of what is out there on the issue, and there is little thematic difference )is about half-true by my estimation.

You are somewhat mistaken on the UK's level of autonomy, but it's not something you can really articulate as a one-liner and be honest about it. The EU has an enormous set of bureaucratic regulations, that cover everything from consumer items to maritime rights to workers law - and also a great deal more. The UK could legislate "within" the EU's regulations, but not supersede them.

You should really examine Greece as precedent, though Greece owed money to various banksters (much of which were bad loans originated by Goldman Sachs in corrupt inside political deals, using US Fed free money, then packaged and resold to EU banks in northern/central Europe) the EU played a large role in clamping down and holds them by the throat now.

As far as negative consequences, there will be some, particularly in the short term. Regarding the more doom and gloom predictions, well those are just "possibilities" that can, in theory at least, be easily avoided.

It is important to note that while the status quo was very beneficial for some, it was certainly not beneficial for all.

While I wouldn't doubt the Russians are pleased by the vote, Nigel Farage is relatively libertarian minded and seems an unlikely candidate for collusion with statists.

I see what you are saying about being too small to stand up to multinationals, but even if that could be the case, it seems moot when the apparatus of central governance itself is in fact the chief vehicle for enforcement of the multinational/bankster agenda.

There are few things that elites like more than unaccountable bureaucrats with large amounts of real power, and little or no meaningful checks or balances.

One of the few good bits of brexit is that Nigel Farage will soon join the ranks of the unemployed

Cameron should never have taken the lead of the remain group he should have sated his view and left it to others to lead the campaign
the pols were 50/50 for weeks before the vote and now that we could use someone to sort out the mess we do not even have a working goverment.

even the opposition is falling apart with the pro EU MP's turning on their leader as he did not convince their grassroots working class voters to vote remain
nicely reinforcing the view that the MP's realy are out of touch

http://www.politico.com/magazine/story/2...ationism-213995

Politico has a good write-up of the situation.

Of course, the author misunderstands the role of markets; specifically how economic rigging, and the cohabitation of central banks and the incumbent institutional megabanks in fact
preclude any true market economics at the monetary level. The reason this issue cannot be addressed, is because so relatively few are even able to grok the crux of the issue. (and as often as the term capitalism has been misused, it is high time the terms capitalism and market economics are etymologically separated )

Otherwise, much is spot-on.

The UK has always been felt as the 52nd US state only in the EU to advance US interests. I can tell you a lot of people are happy with them getting out on their own.

Its the Island thing we can nomore walk to france than we can walk to India.

Sharing land boarders creates a different sence of belonging


PS yes I know the tunnel is there but it does not change the mind set

Curious to know your thoughts on it Instrument.

Insider perspective!!!!

Second

with that kind of a build up i am going to follow Borris and exit the stage

we he is off
UKIP leader Nigel Farage stands down
http://www.bbc.co.uk/news/uk-politics-36702468

FYI UKIP have 1 MP in the uk parliment

Party Seats

Conservative 330
Labour 229
Scottish National Party 54
Democratic Unionist Party 8
Liberal Democrat 8
Independent 5
Sinn Fein 4
Plaid Cymru 3
Social Democratic & Labour Party 3
Ulster Unionist Party 2
Green Party 1
Speaker 1
UK Independence Party 1
Vacant 1 (this is the MP that got shot)
Total number of seats 650

Boris is back.

had to get his hair cut to do it

The world hasn't ended as some predicted for the U.K. That's odd... :P

Has not even started yet. The UK is still part of the European Union LOL. Just wait for it to really happen.

agreed all the same rules apply but now we dont get invited to any of the meetings

Sorry about Nigel Farage after getting all upset about Obama coming to the UK and telling us how to vote, it appears we are no better

Didn't the UK stock increase like 25% or something after the Brexit. Doesn't seem like they are to afraid the Island will flip over on it's side.

FTSE 100 and 250 and the pound all dropped after the vote
the FTSE 100 and 250 is back to where it was in 2015 before this started

the pound however is still down at 1.32 it was 1.45 before the vote and in 2015 it was 1.58 and back in 2008 it was 2.09

at this time the UK is a full paid up member of the EU its still all to come.
and its going to be a mess which it going to cost and the UK will most likely be alot poorer after brexit at least to start with.

However if we keep the death toll below 450,900 its a win
at the moment it stands at 2 1 pole and 1 mp

Japan issued unfavorable terms to UK. Others to follow soon.

Brexit offers Britain a 'tremendous opportunity', Australian minister says


Till it happens its just posturing

now we are building a wall in the south to keep the migrants out and mexico is is going to pay for it.....well 2 out of 3 is true