I’m sure I speak for the 20 people in Montana who were paying attention when I say I’m shocked at Britain’s decision to leave the European Union. My opinion of Brits intelligence is fairly low as a result of watching too much BBC on Hulu, but I did believe they were smarter than this. I sincerely hope it’s not a harbinger of the U.S. election.
The vote to leave was mostly a protest against the austerity that has stifled a number of EU economies and the sad fact is this will only make that austerity worse than ever. England’s Trump doppelganger Boris Johnson will very likely be the new Prime Minister at a time when calm levelheaded thinking is needed.
If you have a 401(k) this is going to hurt you. If you are on a fixed income from any source, this is going to hurt you. Even though you’re not British. This is the problem with globalization and Wall Street speculators trading on all kinds of sketchy securities with your money. Income inequality is at the root of this and it actually has a simple cure – give everybody a raise! Raise wages for the poor and working class and taxes for the uber-wealthy and corporations. Invest in infrastructure and education and diplomacy and divest from fossil fuels and instead build a new Smart Communications and Energy Grid nationwide, installing broadband communications in every home, and do it in the next 15 years!
Brexit will keep interest rates in the basement so there will never be a better time to sell Treasury Notes, and at an effective negative interest rate! That’s right, the richest people in the world are begging to invest in America, even interest free, because they know it will never renege on its debt. They didn’t get rich being stupid. I should say stay rich – most got it from daddy to begin with but that’s another story. My only advantage is I’m so used to being poor it won’t change my lifestyle a bit.
Education is the root of liberty and ignorance is the seed of tyranny.
Robert Petersen
Evergreen