Brexit

The votes have been counted and the decision is in: The United Kingdom will leave the European Union. Professional economists have spoken with an unprecedented unanimity that this will make the UK substantially poorer. The campaign also grossly inflated the extent of the UK's financial contributions to the EU.

The Brexit vote may well be the death knell for Great Britain as we know it. Scotland's First Minister, Nicola Sturgeon, has announced that it is 'democratically unacceptable' that Scotland, which voted overwhelmingly to 'remain', will be taken out of the EU. She describes the prospect of another referendum on Scottish independence as 'highly likely'. The pound has fallen to its lowest level since 1985. Forty five percent of the UK's trade was with the EU, and the terms of trade will now have to be re-negotiated.

Ted Rudow III, MA
CA, USA