Dow dropped 500+ points the first day Obama was elected, 300+ the 2nd time he was elected. America is not noticeably worse off (unless you're a right wing crazy.) I wouldn't put too much stock in any of the short term dips.
Also, prognostication is not exactly a forte of economics. In the rare cases it can be useful, you need all of:
1) Similar situations from the past
2) Good data from said situations
3) Ability to isolate variables
There are way too many variables in this situation, and there are exactly zero situations where a country has voted to leave a union in the manner GB looks like they will, and if there are there isn't sufficient data from those occasions.
I believe this could go either way for them in the long run, but GB needs some good leadership to get through this (which isn't looking good at the moment.) Brexit isn't even binding so who knows if they even leave.
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06-27-2016, 09:57 AM
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