The voting in the UK-the home of my birth citizenship-is over, and the signs seem to point to Remain over Brexit.
The markets were up sharply-the pound rallied this week from $1.41 to $1.49, and equities have soared. Off the beaten path, the Fed's stress tests went well for the banks, so those could finally be a buy.
But I digress.
Many have noted the similarities in between Brexit and Trump. Breitbart crows of the five reasons-five!-that a Brexit win could signal a Trump win.
http://www.breitbart.com/2016-presidential-race/2016/06/21/five-reasons-brexit-signal-trump-white-house/
If Breitbart has any consistency, it now has to admit that as Brexit seems likely to lose now, that bodes ill for Trump. Of course. you shouldn't look for that piece any time soon.
The clearest sign yet that Remain has closed the goal line is that Nick Farage-before final results are in-is already saying that Remain likely has won.
http://www.telegraph.co.uk/news/2016/06/23/eu-referendum-will-it-be-brexit-exit-poll-and-results-live/
Farage is basically UK's Donald Trump, head of the UK Independence party.
Farage is basically UK's Donald Trump, head of the UK Independence party.
This is certainly good news for Britain-though it's a little uncomfortable how close it may be. The polls show-closet thing they have in Britain to an exit poll-show Remain won just 52-48.
It's also good news if you for any reason expect to receive a payment in pounds anytime soon-as I do.
The pound has been beaten down for over a year. It's' up $.08 vs. the dollar this week. It'd be nice if it jumps further in response.
Sorry about this Mike. It sucks. I'm especially sorry that you were receiving a payment in pounds. Things aren't looking good as I write this. Shoot!
ReplyDeleteTalk about perfect timing. The worse drop in the pound in history when I'm supposed to receive the payment in the very near future.
ReplyDeleteDid you see Simon Wren Lewis on this?
ReplyDeletehttps://mainlymacro.blogspot.com/2016/06/why-do-people-want-less-eu-immigration.html
Now will the scapegoating begin? I'm pretty sure the Leave coalition will spin any follow on problems as being due to others.
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