Financial Fridays: What the ‘Brexit’ Means!
James Altucher

I can’t believe all the positive responses to this. “Means nothing… zero impact… no reason… doesn’t matter…” This appears to be somewhat uninformed and economically and politically naive. Of course we know stock markets are greedy cowards, blowing in the wind, but investment is not the only force at work in history. The UK can NOT “negotiate with each individual country” in the EU — it has to negotiate with the EU as a collective entity because of the nature of the shared standards they all have for e.g. consumer and environmental protection. Will Japan and Detroit sell fewer cars? Of course they damned well will if there is a recession lasting for years in the UK and inevitable economic effects resounding throughout Europe. They’ll sell fewer cars here, won’t they? Is it threatening the stability of the rest of the EU and the viability of the euro, the currency used by a whole number of countries? Is it encouraging the rise of far right parties across Europe? Is it possible that after the only 70 years of peace in 5000 years of European history, this could actually re-create the possibility of European war in the end? I imagine there were people across the world in 1932 who were not concerned about the accession of Hitler, and loads of isolationists in the USA who thought this would never affect them, it was none of their business, they could just buy a few German shares and never worry about the lives of their young soldiers. I’m afraid I think this article was appalling.

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