Saturday, June 25, 2016

JUST MY 2 CENTS PLAIN

I think the markets r like a little old hysterical lady reacting and overreacting to the news of the day.

I'm no economist, but I don't think Brexit is all that big a deal. The British were always in with one foot, keeping their pounds and wary of the EU.

I haven't been in Europe for a while now, BUT whenever I was there everyday people cursed the EU and the Euro saying it was a ginormous mistake. So if the EU collapses and every country returns to their original independent status and currency SO WHAT? It worked before and it will work again. There was a certain charm to have to switch currencies when going from country to country.

Briton is the 5th largest economy in the world, and my guess is that it will continue to prosper and thrive no matter what.

At the end of the day, as my British friend would say, it's probably not about economics as much as it is about bureaucrazy and immigration. As I have said before, Europe has mismanaged the migrant surge led by Ms. Merkel, who was thinking more from her heart as an East German refugee, than from her head. It has been one of the biggest bungles that cost many lives, but also displaced hundreds of thousands of people who got no where. They came from one hell hole and ended up in another. I don't even understand the Turkey deal that will send many back.

Just as the glorious US of A demanded freedom and independence from "taxation without representation" and many other inequities as well, Briton deserves its independence as well, given her multiple frustrations.

May the markets calm, heal, and realize that it is not as big a deal as Friday suggested. Hysterical grandmas should not affect my investments to the extent that they did. Briton and the rest of the world will survive Brexit best as I know, and I think you can take that to the bank.

Bye for Now,

Bill

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