Brexit - Congratulations To The British People!

Posted: 6/25/2016

I am in awe to witness this historic moment of a popular vote for the right thing to do!

I am envious that I could not vote! (just kidding)

British history of individual liberty strongly suggested that the British would vote to leave the EU, because the EU has increasingly become a more centralised, homogenized, and bureaucratic power, restricting individual and entrepreneurial freedoms and reducing federalism. Unfortunately, the UK adopted way too much socialism latest since the end of World War II. Margaret Thatcher succeeded only partially to roll back socialism in the UK.

Historically, Europe has greatly benefitted from its variety and diversity of approaches.

London will probably or has the opportunity to reinvent itself to become a far better global financial center than before. First, the British would have to unshackle the financial sector from the many ridiculous government restrictions imposed ever since the Great Depression and, more recently, since the Great Recession.

British businesses are now free to seek global opportunities unencumbered by European hegemonic or radical environmentalist aspirations! The British economy should benefit from it and prosper.

Together, with Hong Kong, Singapore, Australia, New Zealand, and India, the U.K. now could pose a serious challenge to China’s communist, authoritarian, one party regime.

Scotland may first vote for independence from the UK, but later may well decide to leave the European Union as well. I bet, they will eagerly cooperate with a prosperous England.

Ireland has a chance to finally become reunited again!

The European Union will no longer be a one way street anymore. The believers in Europe would be well advised to discover that voluntary cooperation among European countries on issues and more federalism is a better way to go. European monetary policy and the European Central Bank have undertaken disastrous measures for many years now. Important agreements of the European Union were violated with impunity and so on (e.g. Maastricht Treaty).

Given the many misguided and ill-informed anti-American sentiments in Europe, the relationship between the U.S. and the UK should improve a lot unless another Obama is elected. The world will be a better place for it. A win for humanity!

I am sure I am missing something here! :-)

P.S. It amuses me a lot that in the aftermath of the Brexit vote that so many news outlets and pundits pointed to the expected, temporary overshooting of the financial markets as if it was an “we told you so”. Baloney!