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When nations, companies or movements throw vengeful tantrums

Every grownup knows what a temper tantrum looks like. The kid didn’t get his way. It’s time to make the grownups pay – by causing obstacles, by screeching about anything and everything, by hitting, and so forth. The kid might still not win on the immediate issue X. But who knows, the grownups might just try to mollify him on another issue Y. It’s part revenge, part blackmail. We can expect a lot of tantrums now over Brexit.

Brexit doesn’t change much, “in the now”. First, it hasn’t even happened. (It will be weeks or months before Britain invokes Article 50.) Second, if and when it happens, it need not affect the existing terms of European trade, finance or hardly anything other than British border control. All that it will take to keep the existing trade going is a few new pieces of paper with a few new signatures.

No, Brexit is more of a matter for the future. Assuming it happens, it will mean that the UK’s -future course- is to avoid a full-on political merger with the rest of Europe; avoid the destruction of its borders and sovereignty; etc.

And, to the various socialist cronies of Europe, that’s unforgivable. And for years, vast problems (unrelated to Brexit) have been piling up for them. And for years, they’ve tried to not admit the full extent of their problems. Problems which they have caused and/or failed to deal with.

Guess what? Now that they didn’t get their way on Brexit, they’re going to blame everything on Brexit. Even though Brexit is mostly unrelated.

It’s as if termites have eaten away at your home for years. Your home is ready to crash. You have failed to deal with it. Now your partner insists that you stay home on Saturday night and don’t go to that casino. Guess what? Your plan is to light a little fire to help your termite-eaten home crash faster; and when the cops arrive, you’ll blame your partner for everything. Now that’s a tantrum.

It’s already begun. Earlier we had the credit downgrades on the UK. It’s pure payback, of course. Nothing fundamental has changed about the UK’s finances. The ratings companies became political, some years ago. Governments can and will torture the ratings companies; therefore, they do the bidding of governments. The downgrades then add to market turmoil. In other words: Kid throws tantrum.

Another example is, crashing Italian banks that demand massive new bailouts. European banks’ finances have been rotten for years. Their stocks were inevitably going to crash at some point, when the world admitted the reality. But guess what? Brexit! So give us new bailouts!

It’s the new Climate Change, or maybe the new Salted Caramel. Everything this year is going to be Brexit. Decaying art? Brexit! Venezuelan collapse? Brexit! Fukushima radiation levels? Brexit! Solar flares? Brexit! U.S. recession? Personal negativity? Brexit!

Why not? The world – or at least, the media-socialist-crony world – hates UK Independence (and border control) that much. Everyone will agree to join the fun and not be honest about the longstanding, real causes of a great many problems.

UPDATE – it continues: The European Central Bank’s leader, Mario Draghi, predicts low economic growth and currency devaluations from Brexit. Let’s be clear.

  • Europe was already going to be stuck in years of low growth.
  • Currency devaluation is what Draghi has already been wanting and attempting, for years.

But guess what? The new scapegoat, Brexit!

Something happy

Posted by Jeff (ILoveCapitalism) at 3:33 pm - June 27, 2016.
Filed under: Random Thoughts

Don’t worry. “Cute animal” vids will NOT become an annoying, regular feature of GP.

But I’d never seen this one. And, with all that’s going on in the world (not to mention some of the bizarro weirdness in certain comments), it’s good to switch gears occasionally. Enjoy!

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Brexit: passed by the working classes?

Posted by Jeff (ILoveCapitalism) at 9:31 am - June 27, 2016.
Filed under: Freedom,Liberal Hypocrisy,Politics abroad

It seems so.

As Britain voted to leave the European Union last week, the leader of the UK Independence Party, Nigel Farage said, “The election was won in my view in the Midlands and the North and it was the old Labour vote that came to us…” This morning, Deutsche Bank’s Jim Reid puts some numbers on it:

In terms of socio-economic groups, 57% of ABs (upper/middle class – professional/managers etc) voted remain, 49% of C1s (lower middle class – supervisory/clerical or junior management/administrative), 36% of C2s (skilled working class) and 36% of DEs (Ds – semi & unskilled manual workers; Es – casual/lowest grade worker or state pensioner).

By implication, the ones who didn’t vote for Remain, voted for Leave. In other words, over 60% of rank-and-file British workers voted for the Leave campaign. (Note: ZH provides no link to the original. If you have a link to the original, please post it in the comments.)

We could take this interesting tidbit, if it’s true, in any number of directions.

  • Among workers, is this a rise of protectionism? Or is it a rise of appropriate national pride and common sense?
  • Is the recent day or two of market turmoil really just the ruling classes throwing a temper tantrum?
  • What should be made of all these leftists saying that Brexit passed because of old people, conservatives and racists? Are left-wingers name-calling their own base? The Party apparatchiks are mad at their base? Is the spat temporary, or something deeper?

UPDATE: Can there be any doubt that the EU hates democratic accountability? (Being accountable to the People it presumes to govern) One of its various Presidents, Martin Schultz, has now said:

“The British have violated the rules. It is not the EU philosophy that the crowd can decide its fate”.

I saw that coming.