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Way too early to be taking temperature, of course, but it's interesting to note that the FTSE is only down 2.5%. It's the European markets that are really taking it in the shorts.
That tells me that the British are far less panicked about this than the Germans and French.
The only people who are panicked are the perpetually panicked and outraged. Those who live their lives based on snippets of someone else's thoughts. Those who couldn't find their way to the toilet without instructions.
Many British saw a vote for Brexit as a vote against the globalization and free market capitalism that the European Union supports. Many Labour areas in the north of England vote for Brexit to say f u to unrestricted capitalism. This move will lead to more government intervention and control in the British economy and a decline of the role of the free market. The left should be overjoyed. The old school hard left of Britain, the Tony Benns and Michael Foots, absolutely hated the EU because they believed it was pro-capitalist.
God save our gracious Queen!
Long live our noble Queen!
God save the Queen!
Send her victorious,
Happy and glorious,
Long to reign over us,
God save the Queen.
Good luck to Great Britain and the British people.
The hysteria is merely uncertainty. Once the dust settles, the UK might be less the Scots, but what have they ever brought to the table? Balmoral? Big Whoop!
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