It has been a week since the history making vote by the UK to leave the EU. Going by all the buzz in the media, it would almost seem that the UK had left the EU already. Obviously not the case. Not yet, if at all.
Everything is getting hyped; hype being a specialty of the British. It’s as though the world would end for the UK if they left. Not so. There’s uncertainty, sure. But, so what?
Scotland asserted itself, being almost unanimous by local district and regional count, but their numbers were overwhelmed by those of the land of the Angles.
Scotland (their leader(s)) threatened some sort of breakup or separation, I hear. Again, so what? It forces England to look beyond oil? And while size matters, it isn’t everything.
The thing is, England has also asserted itself. And they have a queen.
London, being ‘extremely’ international voted to stay; not surprising. She got her current status from the historical Romans who had successfully unified Europe (for a while) and whose name for her still stands.
Let’s see how the politics will play out in this battle of the blocks.
Soon after the results were announced, the British Pound (GBP) lost a lot of its value, and there was a lot of upset in the stock market. But we know that stock prices do not measure the real value of their corresponding companies exactly. So any associated hype in/by the markets should be taken with a spoon of informed salt. (Now might be a good time to buy ‘great stocks’ for cheaps. Those who play the market well could make a killing.)
Granted that it might be that the UK’s trade with European countries would be affected (positively or negatively), but they all have two years to adjust at least. So why the suddenness in the market crash? Invisible hands perhaps. Algorithms, maybe.
And really, I think, the GBP going down in relative value to the Dollar, is just the GBP going closer to its true value. Its been kept artificially high for way too long. And the importers loved it so.
So what if the UK breaks up? Would there be irreparable losses? That’s one question for the hype machine against leaving. For the hype machine that supports leaving, if your motivations go much beyond reasonable concerns about sovereignty, the loss of identity, and tangible economic benefits, then you might fall guilty of some sins in the future.