Brexit

[SilentSam]

Honestly, I'm not from the UK, but all this talk about the UK leaving the EU is scaring me, as I heard it could really affect the international economy. I thought at first that it would definitely fail, but now it's seeming more and more like it may happen. I think this is really scary.

[Jetthebinturong]

As someone who is from the UK, Brexit is an incredibly stupid move used by fearmongers to control jaded old people, young "patriotic" idiots and people who don't have a clue how any of it works. The polls were very even at last check, which is terrifying.

[Gonff the Mousethief]

I don't know a whole lot about the issue, but it seems in the past couple of years the UK as a whole has had some issues with Scotland leaving and now the whole UK leaving the EU. Some pretty big desicions.

[Wylder Treejumper]

As an avid reader of the WSJ, I can agree that it is worrying. The prospective is basically this: If Remain wins, we'll basically have more of the same of the global economy: questions over US rate raise timing, the Chinese economy, etc. If the Brexit vote wins, then the markets are going to go on one wild ride, and chaos will reign for a while, at least. The biggest concern is the stability of the EU, which is generally weakened by this whole thing and could be jeopardized by a Brexit. As for the UK economy itself, most depends on the effect of Brexit on the strength of the Pound and the regulations effected by Parliament in replacement of the perhaps overly heavy EU regs.

[Jetthebinturong]

Ugh; currently the polls are 70/30 in favour of leaving. Granted they've only tallied up 20 constituencies out of over 300 but this is legitimately terrifying.

[SilentSam]

Ohh... It's so close!!

[Jetthebinturong]

Brexit is winning. It's still early days though. There's four hours yet to go.

[The Skarzs]

What benefits would it really have?

[Jetthebinturong]

None. All of the arguments for leaving are based on misunderstandings of how things work. Both of its main arguments - immigration and economics - are completely wrong.

AND THEY STILL BLOODY WON!!! UNLESS REMAIN WINS AN AVERAGE OF 70% IN EVERY OTHER CONSTITUENCY, BREXIT WILL HAVE WON! I JUST WANT TO PUNCH SOMETHING! IF I EVER MEET A BREXITER I SWEAR I'M GOING TO DECK THEM!

[James Gryphon]

2016 seems to be a good year for pro-nationalist, anti-immigration sentiment. Launching the referendum might have been a mistake, if the powers expected to defend the status quo.

It was my understanding (do correct me if I'm wrong) that the anti-immigration views were largely about Muslims. I don't see that that's an 'argument that's completely wrong', as much as a controversial issue that many people strongly disagree on. The economy is a more complicated animal, and I don't pretend to understand it, but I will say that the EU has experienced a remarkable amount of instability over the last few years, and it isn't impossible to imagine that someone might want out of that system, if they thought they could get trade deals that produced gains similar enough to what they had before.

It will be interesting to see how it plays out. Historically, the British have been remarkably good at wheeling and dealing, so even if commentators think this move is a net loss for them at this point, I wouldn't be surprised to see them pull something out yet.

[Jetthebinturong]

You are wrong. The Brexiters just don't like immigrants. They are literally those stereotypes who are like "them im'grants! comin' over here and takin' our jobs!"

But that wasn't my point. I can't be bothered to explain in any detail, but what the Brexiters think will happen won't actually happen in the way they want it to.

[SilentSam]

Ugh. Brexit won.

[Wylder Treejumper]

Welcome to an independent United Kingdom...

Well, so far two of my predictions are correct. Stocks went nuts, especially bank stocks, and the pound has already fallen 11% to 1.37 on the dollar. So much of what happens now depends on how Parliament steps into the regulatory gap. A strong, simple regulatory system would be a boon for business compared to the EU's notoriously heavy regulations. Trade deals could be harder to come by, though, and that could hurt.

The biggest question of all remains: Is this the beginning of the end of the EU? As much as I dislike extragovernmental authority, a disunited Europe tends to cause problems (such as WWI and WWII).

[Lord Daskar]

So the UK left the EU?

[Wylder Treejumper]

Affirmative. Or at least, it should within 2 years. The action of leaving itself will take a couple years.