Saturday, June 18, 2016

In case you are interested: What BREXIT means for the economy--it's important

I would venture to say if one asks the man on the street or even Donald Trump they would have NO clue what in hell BREXIT is let alone how it would affect the global economy -- meaning the US too -- because guess what? We are part of the planet. It is rather important to know what BREXIT is because of its implications for the US economy. I have placed a link below entitled "What BREXIT means for the economy" which I found on Nate Silver's blog. Who is Nate Silver you ask? He is the New York Times genius statistician who created 538 (538 is the total of US electoral votes involved in winning the US presidency) and also wrote a book entitled "The Signal and the Noise." In essence his predictability of all things electoral and other competitive outcomes is near perfect. I did say NEAR perfect. A further short explanation of the European Union (EU) is as Wikipedia states:
"A politico-economic union of 28 member states that are located primarily in Europe with an estimated population of over 508 million. It operates through a hybrid system of supranational and international decision making unions. The EU has developed an internal single market through a standardized system of laws that apply in all member states."

In short before you read the link below explaining the implication of BREXIT I will give you a brief summary -- VERY BRIEF -- because I loathe statistics and hate anything with a number in it. Yes, hating numbers puts me at a distinct evolutionary disadvantage which is why I have not made a gazillion bucks on Wall Street but remain safely behind my computer. I digress.

In essence, as I understand it, BREXIT is a vote that will be taken next week in Britain as to whether they want to leave the European Union or not. You may be wondering why the US should care. Trust me (or not) it should. The vote on BREXIT could have profound implications for the US economy especially for all those who have a vested interest in Wall Street and their 401Ks even for those who do not our economy and the world's economy could tank. We all remember the 2007 Great Recession and historically the 1929 Great Depression. We do not, I suspect, want to revisit either.

Britain is a divided nation on many issues especially immigration--sound familiar? On BREXIT the polls are neck and neck. It should be a no brainer that Britain should not leave the EU BUT they have their rightwingnut nationalists too as we have Trump a/k/a Small Hands Drumpf. Yes, sad but true because the real losers in this will be the little guy like most of us.

The division on BREXIT in Britain has taken a violent turn as a right wingnut nationalist Cretan killed a British Labour (yes, that's how they spell it) member of Parliament, Jo Cox. She was a humanitarian and beloved political figure who was against BREXIT. She was killed by a white racist white nationalist who yelled "Britain first" and also who surprisingly (or not) took instruction from the American National Alliance, an American neo Nazi hate group. My opinion, of course, is that Britain should NOT take a page from our explosive political book but should leave well enough alone and remain in the European Union. But what do I know? Read the link below if you want a professional assessment of this issue and how it applies to you. Then go to your broker or retirement expert specialist and ask for their opinion.

Now we not only have to worry about our crackpot rightwingnut politics we have to worry about Britain's too? Maybe I should have entitled this "Back to Prozac Nation. Stop the world I want to get off!"


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