History suggests leaving Europe is great for Britain

The almost universal disdain for what Britain did on June 23 is based on four mistaken perceptions. First, most people seem to believe that the country voted against free trade and globalization. This voters did not do. They voted against being members of the European Union (EU), an institution bent on creating something like the United States of Europe, establishing a common European sovereignty over all its members. Voters have not said that they want to isolate Britain. On the contrary, they have said that they want to remain a globalized country and very close to Europe.

Second, most people got the impression that the voters who wanted to get out of the EU were primarily manual laborers, people with lower-than-average education, those who live outside fashionable London, and the elderly. This characterization is not entirely true. Many young, well-educated, fashionable Londoners and southerners voted Leave. Moreover, in any case, the implied idea that the opinions of voters who fall into the former categories should somehow be disqualified is relevant only if the decision had been made not in a full democracy but in one in which the votes of the younger, richer, more intellectual Londoners had extra value.

Read more at https://uk.finance.yahoo.com/news/keep-calm-brexit-history-suggests-090046436.html

Some reasons BREXIT is good

In a variety of imperfect ways, Brexit promoted liberty, community, democracy and the rule of law. In short, the good guys won.

Here are some  reasons why the United Kingdom was better off Brexiting: 

1. Average folks took on the commanding heights of politics, business, journalism and academia and triumphed. Obviously, the “little guy” isn’t always right, but the fact he can win demonstrates that a system whose pathways remain open to those the Bible refer to as “the least of these.” The wealthiest, best-organized and most publicized factions don’t always win.

2. Told to choose between economic bounty and self-governance, a majority of Britons chose the latter.It’s a false choice in this case, but people recognized that the sum of human existence is not material. The problem is not just the decisions previously taken away from those elected to govern the UK; it’s also the decisions that would have been taken away in the future had “Remain” won.

3. Those governed decided that they should make fundamental decisions about who would rule over them.The Eurocrats, a gaggle of politicians, bureaucrats, journalists, academics, lobbyists and businessmen were determined to achieve their ends no matter what the European people thought. A constitution rejected? Use a treaty. A treaty rejected? Vote again. A busted monetary union? Force a political union. And never, ever consult the public. No longer, said the British.

Jim Rogers on Brexit: 'Worse than any bear market you’ve seen in your lifetime'

The UK's decision to leave the European Union will lead to an economic crisis more severe than what the world faced in 2008, according to legendary investor Jim Rogers, chairman of Rogers Holdings.

“This is going to be worse than any bear market you’ve seen in your lifetime,” he said on Yahoo Finance’s “Market Movers” program Monday. “2008 was bad because of debt. The debt all over the world is much, much higher now. Stocks in the US, for instance, have been going sideways for 18 months to 24 months. That’s called a distribution by many people. When you have distribution for a year and a half, it usually leads to bad things.”

Rogers — who cofounded the Quantum Fund with George Soros in the 1970s — believes the “leave” movement’s victory last week may threaten the British union. While any negotiated deal may help assuage the market’s Brexit fears, Rogers foresees a “bad case scenario” where Scotland and Northern Ireland leave the UK and London’s clout diminishes significantly as financial institutions move towards continental Europe.

“The UK already has huge international debts and it has balance of trade problems and budget problems,” he said. “The bear case is the pound disappears. England becomes Spain or Poland or Italy or something.”

Read more at http://finance.yahoo.com/news/jim-rogers-on-brexit---worse-than-any-bear-market-you-ve-seen-in-your-lifetime-154317566.html#

FTSE index 600 points wild swing Brexit

Google Trends: Brexit searches AFTER the vote

If you judge a country's interests only by prevalent Google searches, it was AFTER  the polls closed when British voters started to think seriously about the implications of their choice.

After Brexit Vote, Britain Asks Google: 'What Is The EU?' and interesting links

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Brexit: Global Trigger Event, Fake Out Or Something Else?

Those people who do not avidly track global economic events may be a bit confused by the growing tensions surrounding the U.K. referendum to exit the European Union, otherwise known as the “Brexit.” Or, they are completely indifferent. Unfortunately, the potential fallout surrounding the event could very well affect the entire world, but perhaps not in the manner the mainstream media and international financiers would have us believe...

I would point out that under normal global economic conditions, the Brexit really shouldn’t matter much to anyone outside of the U.K. If the EU was fiscally stable, if its banks were solvent and its national debts well in hand, if the EU was actually a practical and successful supranational body, then the damage done by a British vote to leave the union would be minimal. Of course, this is not the case. As many other independent economic analysts and I have been outlining for years, the European Union is on the verge of economic breakdown. Look at it this way — if financial turmoil in a tiny member state like Greece can cause widespread doubts about the EU’s stability, then there is something fundamentally volatile about the entire structure.

The Brexit matters greatly to the future of the EU because, theoretically, if one of its most prominent members says adios, then other members may do the same. As it stands now, the EU cannot afford to have even one member, economically large or small, drop out of the system.

The Brexit matters to the rest of the world including the U.S. because of the brilliantly-destructive program of interdependency and globalism that has shaped our financial house for decades. Interdependency leads to extreme economic weakness because no piece of the global system has the tools to survive without the other pieces; and on top of this, when one part of the machine goes down, ALL the other parts are affected.

Read more at http://www.zerohedge.com/news/2016-06-22/brexit-global-trigger-event-fake-out-or-something-else