GB literally did not put its money where its mouth is when it came to the EU. Keeping the GBP separate made this move easier than it will be for any other country.

 

Now, the EU has one dominant economy, some so-so economies and some failing ones. And some point Germany will not be able to carry the economic weight. That may not be far off.

Nikkei down 8%

 

Dow Futures way down.

I find this whole Brexit thing fascinating. I was in London in May and to say this dominated news 24/7 is an understatement. I think the gloom and doomers saying how bad the economies of the world will be crushed were greatly overreacting to scare the Brits into staying in the EU. The markets will have a bad few days or week but will rebound. It will take 2+ years for this to take shape and smart heads will prevail. The EU will need to continue to trade with the UK and vice versa - they need each other so they will work out trade deals. Same with the US.

 

More countries will vote to get out IMO. The EU does take sovereignty from its members...it just does. Basically the members are states in what is a EU country. What is worse is the members of these "states" have no say on who runs the EU. The UK was getting hammered with trade deficits in the EU while Germany was getting great benefit. Also, many in GB do not want to accept immigrants into their country just because Germany or France does. They want to control its border (sound familiar??). One other thing...Obama going to GB and threatening them if they left the EU may be what decided this thing. I talked to some Brits when in London about this and I will tell you they were not happy with Obama sticking his nose in their business.

Cameron out.

Is Boris Johnson the next PM? HE looks like Trump's brother:lol2:

Delete...post to a youtube that has word problem in title.

Good for Britain! Do people who think Britain should have stayed not realize, as ggclfan said above, that they had lost all their sovereignty by being in the EU? That people were making policy/law that Britain had not voted for? That they had been told by the head of the EU that they were going to accept UNLIMITED immigration? So, do people who think they should ha e stayed think it would be a good idea for the US to join some sort of similar union should one appear on this side of the world?

 

Imagine if being in the UN was the same as Britain being in the EU. Do you know that there are many in the UN who think private gun ownership should be done away with? Now imagine the UN making law that outlawed gun ownership, and we would have to abide by it because we were in the UN. How anyone could blame Britain for wanting to get out is beyond me.

It's typically British. They wanted integration when their economy was in the tank, now that they're doing ok, they feel other countries are dragging them down.

 

Giving away some sovereignty was part of the deal. The states here in the US gave away the sovereignty they had under the articles of Confederation to create the government we've known ever since. There are benefits and drawbacks.

 

Over half of Britain's exports go to other EU countries. About half the things it imports come from other EU countries.

 

And the immigration goes both ways. There are huge enclaves made entirely of Brits living along the Mediterranean in Spain. That's just one example.

 

Time will tell if they did damage or saved themselves.

It's typically British. They wanted integration when their economy was in the tank, now that they're doing ok, they feel other countries are dragging them down.

 

Giving away some sovereignty was part of the deal. The states here in the US gave away the sovereignty they had under the articles of Confederation to create the government we've known ever since. There are benefits and drawbacks.

 

Over half of Britain's exports go to other EU countries. About half the things it imports come from other EU countries.

 

And the immigration goes both ways. There are huge enclaves made entirely of Brits living along the Mediterranean in Spain. That's just one example.

 

Time will tell if they did damage or saved themselves.

 

Taxation without representation...it's essentially what GB was experiencing being in the EU. And we fought a very bloody war over that very thing many years ago. I couldn't imagine someone from Brazil telling the US it will take...oh, lets say 10 million immigrants from south of the border next year...and oh yeah not only will you take that many, you will take who we tell you to take, you won't have any say in that either. Sounds like the Briits were fed up with what the EU was essentially shoving down their gullets.

Taxation without representation...it's essentially what GB was experiencing being in the EU. And we fought a very bloody war over that very thing many years ago. I couldn't imagine someone from Brazil telling the US it will take...oh, lets say 10 million immigrants from south of the border next year...and oh yeah not only will you take that many, you will take who we tell you to take, you won't have any say in that either. Sounds like the Briits were fed up with what the EU was essentially shoving down their gullets.

 

But they have representation. There are elections to the EU Parliament every five years. The Council of the European Union is made up of ministers from within the elected government of each member state.

 

I won't deny for a moment that some of the less democratic elements of the EU's political structure (especially the European Commission) could use some work. Britain could have helped there and they've been a powerful voice on reform that now won't have a seat at the table.

 

This was a voluntary association that they chose to enter. It's fine that they wanted to leave, but there will be consequences. I think the Remain Campaign did a poorer job at selling the benefits of membership than the Leave Campaign did at selling its shortcomings, but so it goes.

But they have representation. There are elections to the EU Parliament every five years. The Council of the European Union is made up of ministers from within the elected government of each member state.

 

I won't deny for a moment that some of the less democratic elements of the EU's political structure (especially the European Commission) could use some work. Britain could have helped there and they've been a powerful voice on reform that now won't have a seat at the table.

 

This was a voluntary association that they chose to enter. It's fine that they wanted to leave, but there will be consequences. I think the Remain Campaign did a poorer job at selling the benefits of membership than the Leave Campaign did at selling its shortcomings, but so it goes.

 

True, it was voluntary. And yes I think the majority of the populace decided the tipping point had been reached and they wanted their borders back. I think we will go through the very same thing in November, and it will be interesting to see if our tipping point has been reached yet.

The elections don't really elect the people who run the EU.

 

There will be some pains, but this will be a good thing for them.....and the world is starting to wake up and get rid of freeloaders........

True, it was voluntary. And yes I think the majority of the populace decided the tipping point had been reached and they wanted their borders back. I think we will go through the very same thing in November, and it will be interesting to see if our tipping point has been reached yet.

 

I hope, but I doubt it.

It's typically British. They wanted integration when their economy was in the tank, now that they're doing ok, they feel other countries are dragging them down.

 

Giving away some sovereignty was part of the deal. The states here in the US gave away the sovereignty they had under the articles of Confederation to create the government we've known ever since. There are benefits and drawbacks.

 

Over half of Britain's exports go to other EU countries. About half the things it imports come from other EU countries.

 

And the immigration goes both ways. There are huge enclaves made entirely of Brits living along the Mediterranean in Spain. That's just one example.

 

Time will tell if they did damage or saved themselves.

 

Please don't use our Federal system of states as an example it sorta resembles but is a very bad comparison . I've seen many talking heads try this today.

 

In the short term the market will take a hit but this move isn't near as bad as China last fall and the World economy survived.

 

There will be growing pains for sure but I understand the need for soverinity. England will work out trade agreements. It was basically Germany and England supporting most the countries in the EU anyway. The EU itself to me was a poorly conceived plan and a lot of its flaws are coming home to roost.

Those of you who remember our former poster Three Lions from several years back who stayed in touch with him on Facebook would to well to read some thoughts from him, a British ex-pat living in Ky, as well as posts from his friends in the U.K.

 

Wish he was still around to post here. We could use that kind of insider's view.