Brexit's Meaning

Brexit: Farewell to all that

Britain has voted for Brexit -- to leave the European Union.  They did so in spite of the united opposition of the political class across the spectrum of British politics.  Blair supported remain as did Labour's current leader Jeremy Corbyn.  The Conservative Prime Minister, David Cameron, supported remain and now, having lost, he will be exiting.  Even the tragic assassination of Labour MP Jo Cox, a remain supporter, did not tip the scales towards the remain side.

Americans might appreciate the enormous historic implications of Brexit better if they thought of it in these terms:  Imagine a US referendum on some topic where President Obama and Donald Trump held exactly the same position...and a majority of American voters rejected it anyway.  That is what just happened with Brexit.

Business elites, fearful of change, overwhelmingly supported the remain position.  Londoners voted to remain but were swamped by opposition outside of the metropolis.

President Obama weighed in on the Brexit debate in a particularly ham-fisted manner telling Brits that our allies in two World Wars would need to get to the "back of the queue" if they opted for Brexit.  Most Americans would not use the term "queue" so it was clear that Obama was simply parroting talking points supplied to him by Cameron.  Will foreign leaders be less keen on an Obama endorsement / meddling going forward?

Fundamentally, British voters recognized that the EU has turned into a pretty rotten deal.  The membership dues to this club no longer justify the expense.

We know the short term results of Brexit.  Global markets tanked.  The Pound weakened.  Hand wringing ensued.  401ks were diminished this past week.  The media had a field day with dire predictions.

British Pride still sparkles

We do not, of course, know what the longer term consequences of Brexit will be.  We do know, however, that nothing will really change for two years.  Most likely the current market swoon will be followed by an eventual recovery.  Britain will remain an important trading partner with Europe and the world.  EU member states will still want to trade with the world's fifth largest economy.  Tourists will still visit the Tower of London to see the Queen's jewels.  Britain's exit from the EU is unlikely to destabilize the European peace which has endured now for over 71 years since the end of World War II.

There could be a Corbyn government which would likely be disastrous for Britain.  Corbyn is Bernie Sanders without the chutzpah.  Brexit will also likely force another Scottish referendum which would pose a challenge for the UK government.

But Brexit is far from the end of the world.  We ought to remember Monty Python's advice to "always look on the bright side of life".

Boris Johnson: Brexit Winner

More likely, however, this is a huge victory for the leadership of Boris Johnson.  Johnson was a successful charismatic Mayor of London.  He is bright, cosmopolitan and in touch with British sentiment.  He has more than a touch of Churchill about him.  His book, The Churchill Factor, was outstanding (See my review...http://americanconservativeinlondon.blogspot.com/2014/12/boriss-new-book-this-is-outstanding.html).  Boris now heads up the Foreign Office for Britain.

The Brexit vote dealt an enormous blow to the reigning political establishment worldwide.  It is a clear vote against open borders and unlimited immigration.  It is a vote for local over transnational.  It is a vote against bloated bureaucratic meddling which is despised around the world.  It is a vote in favor of national identity but it is not really a vote for a more bellicose foreign policy.  For better of for worse, this vote should cause major shockwaves in the Hillary campaign which is the embodiment of establishment politics.

For more on Brexit see...http://madmonarchist.blogspot.com/2016/06/royal-news-special-report-thoughts-on.html

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