Friday, June 24, 2016

That might not have been the best idea they've had...

The people of Britain voted to remove themselves from the European Union and it's causing a major tumble in the financial markets. The British Pound has fallen against almost all other currency in the world. Yesterday, one pound sterling was worth $1.46. Today it's worth $1.36 That's a loss of  almost 7%.

The Scots, the Irish and the Welsh didn't want to leave the EU and they are all making noise about leaving the British Empire and rejoining the EU.

The French, the Germans and the Belgians are all telling Britain, "Well, if you're leaving, let's get this over with. Invoke the 2-year countdown now. Don't drag this out because if you do, we're going to make it hard on you."

The British, however, are saying, "Whoa, hold on there pardner. There's no need to be hasty. We can talk about this."

Sounds to me like the Brits might have a bad case of the "morning after regrets" and the rest of the EU is probably going to punish them for their vote. I imagine that negotiating new treaties, new tariffs and new border-crossing protocols will not go in Britain's favor.

I told my youngest that this is probably the biggest event in his lifetime but not to fret too much. The markets will go crazy for a few days or weeks and eventually this will all settle out. Britain will deal with it's new (renewed?) status and learn how to fend for itself once again.

Until then, hang on to your hats because it's gonna be a bumpy ride.

Oh, and once it's over with & things settle down, we'll get to deal with the craziest presidential election in my lifetime. You can bet that's gonna shake it all up again.

Yay!


I'm hoping to make it through at least four innings of the 8:15 Red Sox / Rangers game.

While I do that, you should think about visiting these links:

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