So first off, WTF is a Brexit?
The “British-Exit” from the European Union was a vote across the United Kingdom or Britain held simultaneously in England, Scotland, Northern Ireland and Wales. It was a referendum, meaning people went to the polls just to vote on a single issue. In this case 51.9 percent voted “Leave” and 48.1 percent “Remain.”
WTF is this really about?
In short, Brexit is the UK’s Trump Vote (Make Great Britain Great again?), led by Boris Johnson. Primary concerns are immigration, terrorism and regulation. Voting “leave” doesn’t make you racist, but it just so happens to be the #1 choice of racists. Here’s a sweet old lady on the BBC doing her nails and talking about how she doesn’t like “negroes.”
WTF is going to happen?
Today the British Pound tumbled 8 percent on opening. By comparison: On the 2008 recession it fell by 7 percent. British goods will remain expensive, but a US citizen traveling to London will have more buying power for hotels and all that fantastic British food. Unfortunately for suit lovers: Savile fabrics are made of imported Italian wool, so those will actually go up in price. Oh, and our number one ally might have trouble scraping up the funds to back us up in an armed conflict.
WTF about booze?
Oh, yeah. England has terrible wine and horrible import duties. Brits coming back from outside the EU are limited to 4 liters of wine. That’s likely to be enforced.
WTF could that mean for us in the states?
Today the Dow tumbled 500 points on opening. To be optimistic: It’ll bounce back so that just means there are a lot of great buys in the market! But maybe not for many years and you could lose your job before that pays off.
WTF is this a recession? I have a 401K, no real estate and no stocks. Should I call my broker?
No. Not selling is the same as buying. Today some markets went down. If you liquidated you 401K you would have the tax problems and fees associated with it. And still the best you could do with that amount of money is buy exactly what you have today. Stay the course. If you’re a gambling man, you might consider buying these low prices.
WTF could be so bad about the EU that Britain would want out?
According to “BREXIT: THE MOVIE” the EU is this vast and complicated machine that chokes all freedom with regulations. For example, this movies says there are 5 laws that regulate pillow cases and 109 that regulate the damn pillows!
But when you actually look up the data it’s actually this: Of the millions of EU laws, 109 of them have the word “pillow” and would come up in a search. Upon closer scrutiny that includes something called a “pillow pump” for camping mattresses. But would you be surprised that this is a very popular source of outrage on the Donald Trump subreddit?
WTF does the UK get out of it if they leave?
No more EU regulations! Except that without free trade with Europe their economy would collapse and never recover until the markets reopened. Oh, and if they want to sell pillows to Europe at all, they still have to follow the regulations there. Not many voters appear to have understood that fact.
Wait. Seriously? WTF did they think was gonna happen?
Not sure, but here is a man who voted to leave, was informed that the leave vote won and then regretted it. Isaac Asimov once said of the US, “The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that “my ignorance is just as good as your knowledge.”
Seriously, who actually voted for this?
In short: old people. Young Britons grew up being able to work, study and travel in any country in the EU. If your boss wants you to go work in Luxembourg for the summer, you can go and leave your passport at home in London. Here’s the breakdown of votes:
WTF indeed. So could we do something this dumb in the States?
We wouldn’t rule anything out. It’s just like when there’s a TV show that you really like and some smug prick says, “Oh, that’s actually a ripoff of this mmmmuch better show on the BBC. The British version is much more interesting.” It’s like that. Thatcherism predated Reaganism. Ricky Gervais came before Steve Carrell on The Office. Did you know Veep is actually a spinoff of a BBC series from 2005 called The Thick of It? Note: Gervais did 16 episodes. The US version went on for nine seasons.
WTF is gonna get F’d first.
We can debate whether he was a good Prime Minister, but David Cameron was a decent fellow who bet his office on this vote. Today he resigned.
WTF can I do?
The vote had 71.8 percent turnout. It was still decided by a 2 percent margin. In 2012 only 58 percent of American turned out to vote. If this at all sounds like something that could happen in the states if 1 percent of the population forgets to get out there and vote: Get registered to vote.
For more info, this John Oliver segment pretty much nails it.