Comment

Britain Votes to Leave the EU

145
Testy Toad T6/23/2016 9:38:18 pm PDT

re: #139 freetoken

Today’s reaction in the markets will subside… and probably everything will smooth out sooner than later.

The real immediate change will be in the political leadership of the UK.

After that, long term loss of economic opportunity… and a few immigrants leaving.

Now the latter is what the xenophobes always wanted. But jobs are created by people having needs, and with fewer people that means less demand. And the immigrants do the lower paying jobs in many cases - agriculture, etc. So the natives will find lower paying jobs available, but not higher paying jobs, like in finances.

It’s such a vicious cycle. And all because the nativists fail to accept the basic reality - the UK is an island nation incapable of producing enough goods for its own people, thus it trades services for goods from the Continent.

I emphasize this is one of the most optimistic reads on the situation I have seen tonight.