Farsun wrote:It's funny because the UK was, from people I know and have spoken to, have said that electing MEP doesn't even matter because most of the EU is run by bureaucrats and non-elected officials. How is that deliberative discussion when the EU Parliament is useless except for infringing on sovereignty?
The deliberation should've been done by Cameron and his staff in deciding when and how to exit the EU. Instead he cowardly ran away from standing up to the far right-wingers in his party and called a public vote to avoid blame. Now he's ended his own career as a result. Exactly what he deserves.
hts wrote:I have a good amount of money in the stock market, well at least a good amount for a teenager, and I honesty think that the market is overreacting. Brexit has caused a massive sell off in the American stock market, some of which is simply uncalled for. There are many companies that are not tied to British markets, and whose growth is more secular in nature, that are also taking a dip. I am viewing this as an opportunity to get shares in some of these companies at a discount.
I think that soon everyone will calm down and realize that the Brexit is not the end of the world, and that the global economy will survive.
It is an overreaction, but losses like this are losses nonetheless. Prices will try to correct Monday, but they won't get back to level. There is serious risk of another recession due to this and because it would be occurring during a very poor recovery it could very plausibly turn into a deep downturn. Reddy and Siggon are right that the role of the UK in the EU is minor and that the fundamentals aren't much affected by stay or go. But when you have 3% losses in the Dow Jones and 15% losses in most major currencies in a matter of hours, the fundamentals don't matter.