What Do You Think Of The Brexit Voting Results?

I have an English friend, Carol, who I have been discussing the Brexit vote with.  It's complicated, and although there are some Brits with strong feelings one way or the other, many Brits see both sides of the issue and feel very conflicted.  For those who have not heard about Brexit, it refers to whether or not Britain should stay in the EU or withdraw and go it alone.

Thursday night Britain voted to leave the EU.  The vote was close, but it's effects were immediate.  The pound plunged to it's level in almost 40 years.  Cameron is set to resign as prime minister.  The American stock market opened -600 points on Friday morning.  I was listening to Alan Greenspan talk about the situation on CNBC Friday morning and here's what he said.  He feels that the Brixit vote is just the tip of the iceberg.  Since real incomes are stagnant throughout Europe, other countries may also be inclined to leave the EU.  He feels the global economy is in serious trouble.  Since we live in a global world, this will effect the American economy and our financial markets.

Some British analysts feel that the vote to leave the EU may put the UK into recession.  Britain decided they don't want Brussels telling them what to do.  They want to restore power to Parliament and control immigration.  Fear drove many Brits to vote to leave the EU.  They fear the EU will control the number of refugees from Syria, Libya, and other war torn nations they are required to take in, and they feel that they already have a huge population of immigrants from the Middle East, which they feel has changed their country.

It will take years to unravel their participation in the EU.  It's hard to see how this will end up, but immediate reactions of analysts warn that financial markets may be unstable, the pound will stay low, and the euro is also lower.  Sounds to me like a good time to visit Europe, and a GREAT time visit England.  The pound hasn't been this low in years.  Pack your bags.  There are unintended consequences to everything that happens, and discounted travel for Americans visiting the UK is one of them from the Brexit vote.