Friday, July 01, 2016

The Mess Of Brexit
Yra Harris sees Brexit as a democratic outcome to get rid of the non-democratic European Union: "The arrogance of the European elite (nomenklatura) was so great that the idea of Brexit being voted in was beyond the bounds of their gated communities. But the majority did vote in favor of LEAVE causing great losses for portfolio and power holders. The decision will have short-term repercussions as the French and their Piss BOY Jean-Claude Juncker attempt to punish the entire British citizenry for the temerity to SHUN the high and mighty of the Brussels ivory tower. The British are better off out of the EU because the cost of maintaining a perpetual transfer payment regime to support the debt-burdened European nations will be too great a cost for the British Treasury. Then there was a major mistake when the equivalent of Moe, Larry and Curly rushed to downgrade the British debt to AA. Too bad these are the same rating agencies that failed to downgrade U.S. mortgages. I would ask MOODY’s, S&P and FITCH: How is it possible to grade European debt when the ECB has no centralized taxing authority to stand behind it? The ECB is a bottomless pit and the U.K. will be proven smart by relieving itself of an enormous liability."
LINK HERE to the commentary

No comments: