Friday, June 24, 2016

Trump in Scotland mouths off about BRexit vote, Trump happy about British pound dive

The UK voted to leave the EU, 52 to 48. The BBC reports Trump's reaction.

Mr Trump was asked about the EU referendum result, which saw Leave beat Remain by 52% to 48%, shortly after he touched down at Turnberry in a helicopter.

The US billionaire answered: said: "I think it's a great thing that's happened. It's an amazing vote, very historic.

"People are angry all over the world. They're angry over borders, they're angry over people coming into the country and taking over and nobody even knows who they are.

"They're angry about many, many things in the UK, the US and many other places. This will not be the last."

That's the world according to Trump.

But Trump was not there for statesmanly business. He was there to shore up his failing golf course. And he was all too happy about the British pound tanking (quote from YouTube).

Reuters reports that world stocks took a big hit.

World stocks saw more than $2 trillion wiped off their value on Friday as Britain's vote to leave the European Union triggered 5-10 percent falls across Europe's biggest bourses and a record plunge for sterling.

Such a body blow to global confidence could prevent the Federal Reserve from raising interest rates as planned this year, and might even provoke a new round of emergency policy easing from all the major central banks.

Risk assets were scorched as investors fled to the traditional safe-harbors of top-rated government debt, Japanese yen and gold.

Almost $1 trillion had been lost from European share prices ahead of what is expected to be a nearly 4 percent fall on Wall Street when it opens later.

British pound on the skids ...

The British pound dived by 18 U.S. cents at one point, easily the biggest fall in living memory, to hit its lowest since 1985. The euro in turn slid 3 percent to $1.1050 EUR= as investors feared for its very future.

... and Cameron set to resign.

Having campaigned to keep the country in the EU, British Prime Minister David Cameron announced he would step down.

From the NY Times:

"Not long after the vote tally was completed, Prime Minister David Cameron, who led the campaign to remain in the bloc, appeared in front of No. 10 Downing Street to announce that he planned to step down by October, saying the country deserved a leader committed to carrying out the will of the people."

And what kind of leader would that be? That is scary.

Scotland may revisit UK vote (Reuters)

More angst came as Scotland's first minister said the option of another vote for her country to split from the UK -- rejected by Scottish voters two years ago -- was now firmly on the table.

And more shaking is to come when the US markets open today.

Ya think Trump will explain why all this is a good thing?

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