Pro Globalists Pounce on Britain, Crash in Sterling Underway

The British people are being regaled for having  a ‘red faced insistence‘ for wanting to separate themselves from the very obvious failures of the EU.  What this gent from the Guardian fails to acknowledge is the indelible fact that we’re up against the ebb tide. The effervescent days of transferring wealth from west to the east is coming an an abrupt halt. It’s not  make believe when citing massive currency account surpluses in China and the Middle East, while accounting for a debt burden in the west that could literally bring it to its knees.

Once the printing presses at the ECB stop, it’s all over for the EU and Britain will be proven to be prescient for removing itself from the virus in Brussels.

Drivel from The Guardian

Think about those figures: a Britain that doesn’t make things, that can’t pay its way in the world and where two generations have been brought up believing that what your wages won’t pay, your credit will buy. As the promises for Brexit are broken and people get poorer; as the consumerist model breaks down, who do you think will pay the price?

The answer, I’d suggest, was on show in Birmingham last week. Without Brussels, the right still has one set of scapegoats left. They number the Muslim woman in the headscarf, the Pole in the wrong kebab shop, and the African cleaner on the nightbus.

This didn’t occur by happenstance, but by design — courtesy of globalism.

So, now that the west is moving away from a model that has proven to be suicidal, the pundits and the weak are bending to the rhetoric out of the east and the money changers who profit by hallowing out America and Great Britain.

This from the venerable WSJ.

Brexit is thus turning out to be a useful test case for deglobalization. Raising barriers to the free flow of goods, services, capital and people need not entail recession or panic. It may even redress some of the grievances behind the anti-globalization backlash. If Britain exports fewer financial services and more manufactured goods and tourism, the income gap between London and the rest of the country should narrow.In the end, Britons may be a bit poorer than if they’d stayed, but more self-reliant and more in control of their own borders. That’s the tradeoff.

Today’s pressure on the pound is both impressive and scary. It’s not an ordinary day at the office when Sterling drops 1.8% v the dollar.

Interestingly, we’re fast approaching the abberational flash crash levels at 1.18 reached briefly last week. The Dow is off by 180. I view the crash in the pound as something to talk about at night, scare the plebs from investing in the morning.

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