I have been asked over the week my thoughts on the Brexit situation and how it impacts our country. I know this is away from my usual opinions on the worsening Connecticut economic debacle and the highly corrupted state political situation however as an economist I feel I should offer thoughts on it.
First in my opinion I feel it is an excellent choice on the part of Britain to regain its independence and economic sovereignty. I do not believe nor have seen enough economic evidence that the European Union has created such economic prosperity in Europe and for other countries in the world to justify its expense. Also I do not believe nor have seen enough economic evidence that the Euro currency has created great economic excitement nor economic stimulation for it to continue to thrive as a viable unified currency. To me all it has done is propped up weaker countries and placed economic strain on stronger countries (like the United Kingdom).
Secondly the issue of radical terrorism has expanded in the European Union due to open borders and unlimited immigration policies that have been able to allow and nurture terrorism cells especially in France and Belgium. Europe is far less safe than what it was in 1990. The European Union liberal drum roll of being politically correct when it comes to immigration and radical terrorism/lack of profiling has created an unsafe and highly dangerous situation for both Europe and the United States. The citizens of England had enough and chose freedom and sovereignty as a nation.
To me all the European Union has evolved in is a bureaucratic liberal experimental think tank that has no checks and balances in it. They wish to force feed the Union with failed liberal social and economic experiments.
England in my opinion now will prosper economically and terrorists will have a much more difficult time in their operations in the United Kingdom. The fear mongering manipulations of our financial markets here in our country make little sense to me economically. Why the stock market dropped the way it did on Friday proves that fear when properly placed in the media allows for financial/stock swings to beat up the small investors in the market while allowing for massive profits for the stock shorting gamblers and large institutional investors to gain. There should be no fear over this exit.
Former British Prime Minister Margaret Thatcher summed up the issues of the European Union in her famous quote "What we should grasp, however, from the lessons of
European history is that, first, there is nothing necessarily
benevolent about programmes of European integration; second, the desire
to achieve grand utopian plans often poses a grave threat to freedom;
and third, European unity has been tried before, and the outcome was far
from happy." -- Margaret Thatcher margaretthatcher.tv
God saved The Queen this past week and God saved England. Can God save America next?