The Brexit Vote

[AURaptor 1,122]

Hail Britannia !!

[AURaptor 1,122]

Very dumb move for Britain. This will plague them far longer than it depresses our markets.

They were left with little choice. The EU's heavy bureaucratic hand and non responsiveness to the flood of immigrants turned reluctant supporters into defiant Brexiters.

Globalists had better take notice.

[AUDub 11,147]

Very dumb move for Britain. This will plague them far longer than it depresses our markets.

They were left with little choice. The EU's heavy bureaucratic hand and non responsiveness to the flood of immigrants turned reluctant supporters into defiant Brexiters.

Globalists had better take notice.

They'll have to abide those oh so burdensome regulations anyway when they renegotiate their trade agreements and the "take back control of our borders" argument is a false argument being used to justify a false argument. The anti immigration argument had already won in Britain.

London's days as the financial hub of Europe are numbered. Frankfurt will benefit from that.

[AUDub 11,147]

Pound is losing a ridiculous amount of value against the dollar.

I'll bet if you google the phrase dead man walking, David Cameron's mug will pop up in the results. Bet he's feeling really stupid about right now.

England proper has "leave" up by a million votes.

I expect Scotland to attempt secession again and succeed (secede?) this time. They're voting overwhelmingly to remain in the EU.

Northern Ireland might do the same. Like Scotland, they are being withdrawn from the EU against their will.

[TexasTiger 12,829]

Very dumb move for Britain. This will plague them far longer than it depresses our markets.

They were left with little choice. The EU's heavy bureaucratic hand and non responsiveness to the flood of immigrants turned reluctant supporters into defiant Brexiters.

Globalists had better take notice.

London's days as the financial hub of Europe are numbered. Frankfurt will benefit from that.

Maybe. Unless it hastens the dissolution of the EU.

[AURaptor 1,122]

Ben - see it as you wish, but self governing of Brits by Brits won the day.

That's a good thing IMO

Noteworthy is how gracious PM Cameron was in defeat, in great contrast to our petulant, pouty Selfie President

[japantiger 4,051]

Very dumb move for Britain. This will plague them far longer than it depresses our markets.

They were left with little choice. The EU's heavy bureaucratic hand and non responsiveness to the flood of immigrants turned reluctant supporters into defiant Brexiters.

Globalists had better take notice.

A couple of things; congratulations to a free and independent people for taking their sovereignty, and their right to self determination; back. Hard to figure out how that could ever really be a bad thing. Most of my friends in the UK are pretty happy this morning. My old neighborhood (Surrey Heath) voted LEAVE by 51-49; a narrow margin. Overall, England and Wales voted to leave; Scotland and Northern Ireland to stay...

There is a good short you tube video as part of the Oxford debates that was probably one of the best characterizations around why leaving was a good idea. This should sound very familiar to those on this political forum...about 12 minute video from Daniel Hannan, MEP. Well expressed and thoughtful.

Near the end of the campaign, former London mayor; and a likely next PM for the UK; has gotten a great deal of credit for making more people feel good about leaving...it was about a one minute closing to the proceedings...

Then Boris strode towards the lectern at the front of the stage with an unusual look of determination. He remarked how the other side in this campaign had talked of ‘nothing but fear of the consequences of leaving the EU’ whereas his side had offered hope. He talked of ‘those of us who believe in Britain’. The other side said ‘we have no choice but to bow down to Brussels.’ Lowering his voice, he returned, ‘We say they are woefully underestimating this country and what it can do.’ He pointed out the powers and the money we can take back and said we can speak up for ‘the democracy that is the foundation of our prosperity’. He added that ‘if we stand up for democracy, we will be speaking up for hundreds of millions or people around Europe who agree with us but who currently have no voice.’ Suddenly voting leave became about democracy, self-belief and those who were denied a voice. The idea of leave became aspirational and even heroic. Making his hand into a fist of resolution, he declared that if we vote leave tomorrow and take back control, ‘I believe that this Thursday can be our country’s independence day!’

This short speech marked a complete change of atmosphere. That is why it was so potent. It was hopeful, ambitious. The Leave side of the audience was thrilled. For the first time in the evening, people spontaneously started standing up as they clapped. The BBC coverage which I saw later showed just a few people standing, but I can tell you more and more people stood up all around the hall and up at the sides. It was an extraordinary moment because finally we were released from the self-doubt, niggling fears and negative claims. It was a moment of ‘Omigod! Of course we can do this!’

http://blogs.spectat...oment-campaign/

[TitanTiger 20,472]

Christopher Hayes (MSNBC) tweeted "I don't want a future in which politics is primarily a battle between cosmopolitan finance capitalism and ethno-nationalist backlash." I get that. I don't think anyone wants to see the rise of anti-"other" nationalism. But as he said, it's a backlash to something else. Rather than just telling your 'inferiors' to quit being that way, why don't you fix the thing that's pushing them in that direction. People are feeling less and less in control of their own affairs and their future due to a swing toward heavily centralized power structures and top-down force feeding of globalist policies that seem to primarily benefit the ruling class.

We'd do well to relearn the Catholic social teaching on subsidiarity . For those unfamiliar with the term, here's a working definition (from Wikipedia):

Subsidiarity is an organizing principle that matters ought to be handled by the smallest, lowest or least centralized competent authority. Political decisions should be taken at a local level if possible, rather than by a central authority...

...[it holds that] government should undertake only those initiatives which exceed the capacity of individuals or private groups acting independently. Functions of government, business, and other secular activities should be as local as possible. If a complex function is carried out at a local level just as effectively as on the national level, the local level should be the one to carry out the specified function.

The principle is based upon the autonomy and dignity of the human individual, and holds that all other forms of society, from the family to the state and the international order, should be in the service of the human person.

Subsidiarity assumes that these human persons are by their nature social beings, and emphasizes the importance of small and intermediate-sized communities or institutions, like the family, the church, labor unions and other voluntary associations, as mediating structures which empower individual action and link the individual to society as a whole.

The European Union and the increasing power of the federal government in the United States is antithetical to this concept and even if people don't know the term or a formal definition of it, I think the reactions you're seeing are a natural reflex of human nature when our system of governance increasingly fails to serve the human person and instead serves other interests primarily. People feel the loss of self-determination and control over their own affairs. The problem is, they just don't always react in the ways that we'd hope. They lash out in frustration, anger, fear and go tribalist on you.

[AUDub 11,147]

Very dumb move for Britain. This will plague them far longer than it depresses our markets.

They were left with little choice. The EU's heavy bureaucratic hand and non responsiveness to the flood of immigrants turned reluctant supporters into defiant Brexiters.

Globalists had better take notice.

London's days as the financial hub of Europe are numbered. Frankfurt will benefit from that.

Maybe. Unless it hastens the dissolution of the EU.

I doubt that is happening. The European Union will probably still be around a decade from now, though I wouldn't be surprised if Greece or Portugal elected to leave.

This will be a market shock and will slow growth a lot in the short term. For Germany, at least, remaining in the Union is the best way to get back on track.

[AUcivE09 582]

This going to be interesting. The UK has a great opportunity, but they have to play it right. Being the 5th largest economy in the world they have a strong hand. The EU needed them more than the UK needed them. I expect some blackballing a bit by the global crowd - including our current president (who should already be there discussing a one on one trade deal). This will hurt them and the markets in the short term until the rest of the EU has to admit they cannot live completely off of Germany.

UK has control of their own courts without oversight of the EU judiciary. They can make trade deals that suit them. They no longer have to play by the over regulation of the EU. The individuals have more power now without belonging to some distant bureaucracy.

First things first - the powers that be still have to approve the exit and there is A LOT of red tape to get through before they can be independent again. Think of it as if Texas gained independence and was suddenly a "foreign nation". There is a lot to set up and put in place.

[maxwere 82]

Is very close. As of now, remain leads with 50.2% of the vote.

http://www.bbc.com/n...erendum/results

And as I type this, leave is now in the lead by about 4,000 votes.

When looking at the results reported, most are surprised the remain vote is so low considering the areas that have reported. Markets are trading like the leave vote will win. My puts look pretty good right now but could get better. If the remain vote wins my losses will be limited.

Pendulum is swinging.

Hmmm, puts may have been the play. I kinda went the "all or nothing" route.

You have more money to manage than I do. 33% outright short and 66% in puts. All trades in crude oil because it's a market I know. Gave up on the stock market when it forced me out of early retirement

I made quite a bit shorting oil. Lost it all shorting oil. Didn't know when to quit. I knew it was close but, I just couldn't help myself from going back one more time.

UGLexit this AM!

Thing about small time naked options speculation is, theta will always bust your @ss. Direction AND timing.

Lots of progressive coolaid drinkers here. If they can deal with their debt Britain is fine. It's the EU that is done.

[japantiger 4,051]

Christopher Hayes (MSNBC) tweeted "I don't want a future in which politics is primarily a battle between cosmopolitan finance capitalism and ethno-nationalist backlash." I get that. I don't think anyone wants to see the rise of anti-"other" nationalism. But as he said, it's a backlash to something else. Rather than just telling your 'inferiors' to quit being that way, why don't you fix the thing that's pushing them in that direction. People are feeling less and less in control of their own affairs and their future due to a swing toward heavily centralized power structures and top-down force feeding of globalist policies that seem to primarily benefit the ruling class.

We'd do well to relearn the Catholic social teaching on subsidiarity . For those unfamiliar with the term, here's a working definition (from Wikipedia):

Subsidiarity is an organizing principle that matters ought to be handled by the smallest, lowest or least centralized competent authority. Political decisions should be taken at a local level if possible, rather than by a central authority...

...[it holds that] government should undertake only those initiatives which exceed the capacity of individuals or private groups acting independently. Functions of government, business, and other secular activities should be as local as possible. If a complex function is carried out at a local level just as effectively as on the national level, the local level should be the one to carry out the specified function.

The principle is based upon the autonomy and dignity of the human individual, and holds that all other forms of society, from the family to the state and the international order, should be in the service of the human person.

Subsidiarity assumes that these human persons are by their nature social beings, and emphasizes the importance of small and intermediate-sized communities or institutions, like the family, the church, labor unions and other voluntary associations, as mediating structures which empower individual action and link the individual to society as a whole.

The European Union and the increasing power of the federal government in the United States is antithetical to this concept and even if people don't know the term or a formal definition of it, I think the reactions you're seeing are a natural reflex of human nature when our system of governance increasingly fails to serve the human person and instead serves other interests primarily. People feel the loss of self-determination and control over their own affairs. The problem is, they just don't always react in the ways that we'd hope. They lash out in frustration, anger, fear and go tribalist on you.

You hit the nail on the head on the 1st part of this....there are people in these governments; that think the "people" are their inferiors. That is the crux of the issue. And the EU has taken it a step further where somehow the losers in the UK elections somehow wound up representing the UK in the EU parliament..talk about a perverse system.

[TheBlueVue 177]

I'm kinda happy for the British people. Having to fall in line behind a bureaucracy of unelected officials is a complete forfeit of individual and national sovereignty. This is a symptom of the growing discomfort with the globalists vision of one world government. There may be some short term pain the financial markets but long term I see this as a very positive decision for the Brits primarily but also for everyone who isn't interested in forfeiting individual and national sovereignty to the collective.

[maxwere 82]

Christopher Hayes (MSNBC) tweeted "I don't want a future in which politics is primarily a battle between cosmopolitan finance capitalism and ethno-nationalist backlash." I get that. I don't think anyone wants to see the rise of anti-"other" nationalism. But as he said, it's a backlash to something else. Rather than just telling your 'inferiors' to quit being that way, why don't you fix the thing that's pushing them in that direction. People are feeling less and less in control of their own affairs and their future due to a swing toward heavily centralized power structures and top-down force feeding of globalist policies that seem to primarily benefit the ruling class.

We'd do well to relearn the Catholic social teaching on subsidiarity . For those unfamiliar with the term, here's a working definition (from Wikipedia):

Subsidiarity is an organizing principle that matters ought to be handled by the smallest, lowest or least centralized competent authority. Political decisions should be taken at a local level if possible, rather than by a central authority...

...[it holds that] government should undertake only those initiatives which exceed the capacity of individuals or private groups acting independently. Functions of government, business, and other secular activities should be as local as possible. If a complex function is carried out at a local level just as effectively as on the national level, the local level should be the one to carry out the specified function.

The principle is based upon the autonomy and dignity of the human individual, and holds that all other forms of society, from the family to the state and the international order, should be in the service of the human person.

Subsidiarity assumes that these human persons are by their nature social beings, and emphasizes the importance of small and intermediate-sized communities or institutions, like the family, the church, labor unions and other voluntary associations, as mediating structures which empower individual action and link the individual to society as a whole.

The European Union and the increasing power of the federal government in the United States is antithetical to this concept and even if people don't know the term or a formal definition of it, I think the reactions you're seeing are a natural reflex of human nature when our system of governance increasingly fails to serve the human person and instead serves other interests primarily. People feel the loss of self-determination and control over their own affairs. The problem is, they just don't always react in the ways that we'd hope. They lash out in frustration, anger, fear and go tribalist on you.

Also of note, you can't exegete these principles entirely from the New Testament.

[homersapien 11,362]

Very dumb move for Britain. This will plague them far longer than it depresses our markets.

Agreed.

[homersapien 11,362]

This going to be interesting. The UK has a great opportunity, but they have to play it right. Being the 5th largest economy in the world they have a strong hand. The EU needed them more than the UK needed them. I expect some blackballing a bit by the global crowd - including our current president (who should already be there discussing a one on one trade deal). This will hurt them and the markets in the short term until the rest of the EU has to admit they cannot live completely off of Germany.

UK has control of their own courts without oversight of the EU judiciary. They can make trade deals that suit them. They no longer have to play by the over regulation of the EU. The individuals have more power now without belonging to some distant bureaucracy.

First things first - the powers that be still have to approve the exit and there is A LOT of red tape to get through before they can be independent again. Think of it as if Texas gained independence and was suddenly a "foreign nation". There is a lot to set up and put in place.

They were the 5th largest economy in the world.

[Grumps 3,704]

This going to be interesting. The UK has a great opportunity, but they have to play it right. Being the 5th largest economy in the world they have a strong hand. The EU needed them more than the UK needed them. I expect some blackballing a bit by the global crowd - including our current president (who should already be there discussing a one on one trade deal). This will hurt them and the markets in the short term until the rest of the EU has to admit they cannot live completely off of Germany.

UK has control of their own courts without oversight of the EU judiciary. They can make trade deals that suit them. They no longer have to play by the over regulation of the EU. The individuals have more power now without belonging to some distant bureaucracy.

First things first - the powers that be still have to approve the exit and there is A LOT of red tape to get through before they can be independent again. Think of it as if Texas gained independence and was suddenly a "foreign nation". There is a lot to set up and put in place.

They were the 5th largest economy in the world.

Have they fallen already?

[homersapien 11,362]

This going to be interesting. The UK has a great opportunity, but they have to play it right. Being the 5th largest economy in the world they have a strong hand. The EU needed them more than the UK needed them. I expect some blackballing a bit by the global crowd - including our current president (who should already be there discussing a one on one trade deal). This will hurt them and the markets in the short term until the rest of the EU has to admit they cannot live completely off of Germany.

UK has control of their own courts without oversight of the EU judiciary. They can make trade deals that suit them. They no longer have to play by the over regulation of the EU. The individuals have more power now without belonging to some distant bureaucracy.

First things first - the powers that be still have to approve the exit and there is A LOT of red tape to get through before they can be independent again. Think of it as if Texas gained independence and was suddenly a "foreign nation". There is a lot to set up and put in place.

They were the 5th largest economy in the world.

Have they fallen already?

They are falling as we speak. But it will probably take two more years before they are actually out of the EU.

http://www.economist...c=permar|image1

http://www.economist.com/blogs/economist-explains/2016/06/economist-explains-23

[cptau 169]

This going to be interesting. The UK has a great opportunity, but they have to play it right. Being the 5th largest economy in the world they have a strong hand. The EU needed them more than the UK needed them. I expect some blackballing a bit by the global crowd - including our current president (who should already be there discussing a one on one trade deal). This will hurt them and the markets in the short term until the rest of the EU has to admit they cannot live completely off of Germany.

UK has control of their own courts without oversight of the EU judiciary. They can make trade deals that suit them. They no longer have to play by the over regulation of the EU. The individuals have more power now without belonging to some distant bureaucracy.

First things first - the powers that be still have to approve the exit and there is A LOT of red tape to get through before they can be independent again. Think of it as if Texas gained independence and was suddenly a "foreign nation". There is a lot to set up and put in place.

They were the 5th largest economy in the world.

Have they fallen already?

They are falling as we speak.

There are other EU members ready to vote out. Germany and France have damaged the EU. Lots of their economies may shrink.

[TitanTiger 20,472]

This going to be interesting. The UK has a great opportunity, but they have to play it right. Being the 5th largest economy in the world they have a strong hand. The EU needed them more than the UK needed them. I expect some blackballing a bit by the global crowd - including our current president (who should already be there discussing a one on one trade deal). This will hurt them and the markets in the short term until the rest of the EU has to admit they cannot live completely off of Germany.

UK has control of their own courts without oversight of the EU judiciary. They can make trade deals that suit them. They no longer have to play by the over regulation of the EU. The individuals have more power now without belonging to some distant bureaucracy.

First things first - the powers that be still have to approve the exit and there is A LOT of red tape to get through before they can be independent again. Think of it as if Texas gained independence and was suddenly a "foreign nation". There is a lot to set up and put in place.

They were the 5th largest economy in the world.

Have they fallen already?

They are falling as we speak. But it will probably take two more years before they are actually out of the EU.

http://www.economist...c=permar|image1

http://www.economist...ist-explains-23

Markets abhor uncertainty. They worship the golden calf of predictability. I think it's far to early to say Britain will drop dramatically and shrink based on initial panic. We'll have to see what happens when the dust settles before making such a determination.

[AUDub 11,147]

Oh no what have we done?!

Always remember your vote counts people. Too late for buyer's remorse now.

[AUDub 11,147]

Oops.

In the opening hour of trading on Friday morning, 120 billion pounds of stock market value evaporated. EU nationals working in the United Kingdom must wonder how long they can stay, and so must British retirees now enjoying the sun of Spain, Italy, and southern France. Will London’s overheated property market come off the boil? What’s the future of the vast industry that finances and insures the commerce of the European continent?

[homersapien 11,362]

This going to be interesting. The UK has a great opportunity, but they have to play it right. Being the 5th largest economy in the world they have a strong hand. The EU needed them more than the UK needed them. I expect some blackballing a bit by the global crowd - including our current president (who should already be there discussing a one on one trade deal). This will hurt them and the markets in the short term until the rest of the EU has to admit they cannot live completely off of Germany.

UK has control of their own courts without oversight of the EU judiciary. They can make trade deals that suit them. They no longer have to play by the over regulation of the EU. The individuals have more power now without belonging to some distant bureaucracy.

First things first - the powers that be still have to approve the exit and there is A LOT of red tape to get through before they can be independent again. Think of it as if Texas gained independence and was suddenly a "foreign nation". There is a lot to set up and put in place.

They were the 5th largest economy in the world.

Have they fallen already?

They are falling as we speak.

There are other EU members ready to vote out. Germany and France have damaged the EU. Lots of their economies may shrink.

True. On the other hand, Scotland may leave the UK and remain in the EU.

[TitanTiger 20,472]

Oh no what have we done?!

Always remember your vote counts people. Too late for buyer's remorse now.

One lady expressed that. It could have been that the "remain" side were the main people Googling that now that their worst fears were realized. Or it could have been "leavers" wanting to see what the world was saying about the result of the vote and what they were saying the consequences were.

[AUDub 11,147]

Oh no what have we done?!

Always remember your vote counts people. Too late for buyer's remorse now.

One lady expressed that. It could have been that the "remain" side were the main people Googling that now that their worst fears were realized. Or it could have been "leavers" wanting to see what the world was saying about the result of the vote and what they were saying the consequences were.

She's not alone:

There will be a lot of this as the implications sink in. One wonders if the referendum would have the same outcome if held again next year or the year after.