Saturday, July 09, 2016

More Brexit Fallout

  People don't recognize how huge this Brexit vote is. The implications and fallout will be felt for a long time and across many sectors of society. Something tells me that the Brexit vote was not very carefully thought out.

Guardian UK: Disaster looms if British film disconnects from Europe, says studio head - Chief executive of StudioCanal UK, French-owned British mini-studio, says without EU support UK film industry could unravel

2 comments:

Glynn Kalara said...

I somewhat disagree having just been in the UK for a few weeks. The truth is EU membership didn't confer it's benefits on everyone equally or at all. Many residents of the UK felt cut out of the prosperity it seemed to give the elites in and around London and oddly Scotland and N. Ireland. It wasn't just about racism and anti-Immigration it was also about work and the lack of it in huge areas of the country as neo-Liberal trade policies have gutted the Industrial mid-lands and Wales of the UK. Anyway, all of this played out as a rejection of the elites and it might happen here as well.

Jim Sande said...

Interesting. What I see is how the result will work out. For one, the pound itself is now devalued. How can that benefit any Brit? Their money is now worth what, 85% of what it was a few weeks ago. This makes people less mobile, traveling is now pricier for these people because their currency rate of exchange puts them in a weaker position. It's not that Britain didn't have the issues that you mention, it's how does that improve now after the Brexit in a situation where Britain heads into a recession and unemployment increases. It's strikes me that it's like cut off my nose to spite my face. Maybe i don't get it, I'm definitely willing to learn more. One thing that I read is that the Brits are like us, they have high levels of credit debt. So move that pressure into a recession and less employment and we get foreclosures, bankruptcies if they are allowed, and tremendous financial pressures like many of us are facing.