“Dow Drops 600+ Points in Wake of UK Vote.”
Cowards? Paranoid? Overreaction?
SNAGGLEPUSS BRITON EXIT OF EUROPEAN UNION – REASONS EXPLAINED BY MARKET WATCH
Editorial Article by Jim Lantern
Freak-out Friday 24 June 2016
I found what I believe to be the best article about this “BREXIT” [Briton Exit] issue and related issues, by Market Watch, 23 June 2016, listing 5 reasons for it and 5 reasons against it. This has helped me to understand the comparison by Donald Trump to the United States, including the immigration issue. Read it there [click on article title for link]…
The use of the “BREXIT” for Briton Exit somehow reminded me of a long ago cartoon show on Saturday mornings titled Sangglepuss – first appeared on TV in 1959. [I was born 5 March 1956 – age 60 now.] The cartoon character was known by his frequent words “Exit stage left” or “Exit stage right” – which I have remembered. Snagglepuss is “a pink anthropomorphic mountain lion sporting an upturned collar, shirt cuffs and a string tie with a great desire to be a stage actor.” The crest of the Royal Coat of Arms of the United Kingdom is a statant guardant lion wearing the St Edward’s Crown. Thus, further comparison to Snagglepuss, with a bite of humor…
…Perhaps this is more representative of the bad reaction – possibly an overreaction – of Wall Street and the rest of the money world, than representative of Briton to leave the EU. The paranoid cowards are running away from a perceived or misperceived disaster – as if an asteroid is going to crash into our planet and end all life. Dow Jones could become Dow Bones.
Keep in mind, Briton has only VOTED in favor of leaving the EU. It hasn’t actually happened yet! It does not automatically and instantly happen just because of the voting result. So the financial world is reacting – and might be overreacting – to an event and related events that haven’t happened yet – the results of which are more speculation than established fact. There is to be a meeting next Wednesday, 29 June 2016, between Briton and the EU to work out the details of the divorce, by which means the impact might be reduced to least amount of damage to the EU, Briton, and the rest of the world.
European Union – Wikipedia Article
United Kingdom European Union membership referendum, 2016 – Wikipedia Article