The mighty Scottish nation is putting America’s oldest enemy, the British Empire, back to task. Set those royals low, chaps. Pave the way for secessions in Spain, China, Canada, Mexico, and Russia. But don’t you lot in southern California go getting any ideas.
It is absolutely comical the way the Scottish referendum is being spun as a life or death choice for the world. As if we should all of us fret over the implications of five million people deciding they’d like to change how they vote for their incompetent leadership.
The number of legitimate financial institutions screaming about recession is predictable. A third of the UK forming a new government would probably sink the pound sterling and throw into question a lot of debt responsibilities.
So speak up then; who feels bad for the bankers and financiers who might have to rebalance their currency and interest rate bets?
The NATO distraction is by far the most ludicrous of all of the arguments. Oh yes, Scotland will not be a part of NATO immediately, opening them up to attack from foreign enemies. This would be a most terrible risk for this hated nation of peoples.
I am certain that Scotland’s arch nemesis, the Swedes, have already begun plotting to sack Scotland in the peace lull that will ensue. Russian warships will be in Scottish territorial waters any day following a “yes” vote, and no one will do anything because Scotland will be merely in the process of re-joining NATO.
The whole of the doom and gloom predictions are typical. This referendum is threatening to shake up the status quo a little, so the entrenched are clocking overtime stirring up fears of this somehow setting off a European crisis, as if the loss of a unified UK will somehow tip the balance.
Let the Scottish cede. Their plans as they have disclosed them sound pretty terrible. They’re going to spend a ton of oil money showering each other with state bought goods until their productivity drops and the wells run dry. I am sure that will work out splendidly for them.
In the meantime, the UK at large will be mildly inconvenienced by a weaker pound and some nagging legal questions, until foreign investment takes advantage of that and employment picks up, and God forbid they might have to actually address stagnant problems with their healthcare entitlement. Meanwhile, the spoiled eighteenth generation of former aristocrats will face taxes on their hundred square mile estates.
The world weeps…
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The issue is that independence would create uncertainty in Europe yet again. Whose next? Catalonia? What kind of currency will the Scots use, as they have no treasury/central bank/FTA’s with the EU etc. What happens to the North Sea crude if Scotland takes back control, what will prices do?
It’s more of an issue for European stocks as people may start to fear the same type of uncertainty that we saw a few summers ago when people spoke of the EU disintegrating.
I’m not saying that any of these thoughts are legitimate/logical fears, but they certainly could derail markets over there for some time.
Just my view