Brexit: A Call for Democracy or an Act of Economic Shortsightedness?

The largest blow the British population has delivered to its establishment in modern history – was it strategic or just plain stupid? Well, that depends.
This last week’s furor over Brexit has filled the news channels. In a pretty close race – 52 % Leave; 48 % Remain, with 70% voting – the British Isles voted to step out of the European Union. The referendum vote has polarized the country and triggered Prime Minster David Cameron’s resignation after the British public rejected his entreaties to remain.
Prime Minister David Cameron had argued that Brexit would be an act of “economic self-harm.”

Numerous heads of government including President Obama, Chancellor Angela Merkel of Germany and President Xi  Jinpang of China, Britain’s’ own conservative government Labor party, the Liberal Democrats and the Scottish National Party chimed in against Brexit, to no avail. In fact, even some of our own Wall Street TBTF banks, J.P. Morgan Chase and Goldman Sachs, who each have a real vested interest in Britain as one in six of their employees are based there and who contributed to the REMAIN campaign, encouraged REMAIN and staying with the E.U., to no avail.


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