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It's all crooked Hillary's fault! That's what Donald is saying.
"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
Its one of the rare examples of true democracy at work these days, despite months of a continual barrage of an impending Doomsday scenario of economic, social and political catastrophy, together with a viscious smear campaign of being called xenophobic directed at anyone who mentioned that the current immigration policy is completely unsustainable.
Add to that the MSM bias and the deliberate burial of the central issue of a complete lack of democratic representation, accountability or oversight that's at the core of the EU as a political institution. The majority of people said they no longer want to be ruled, regulated and taxed by an institution of 28 commisioners that they cannot elect, or unelect, who do the bidding of the global corporate and banking elite. There was enough discontent and anger at anti-democratic EU control within Britain for the Brexit to have happened before the US created Al Qaeda, ISIS and fuelled the war in Syria. The people in the UK said to the political, corporate and financial elite - you lied to us in the first referendum 40 years ago - and you're lying to us again. They said - we fell for it then, but not now. They said plain and simple - we want our democracy back.
I don't think that's a sad day at all....Quite the opposite.
Is there such a thing is a true democracy? What we now have is momentum for the anti-establishment political movement.
"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
I agree -its anti-establishment -& part of a broader movement. In this particular instance demonstrated through the voice of the people in a national referendum. Rare - only the third time in British history. But as clear an example of democracy as you're likely to get in the current political wasteland. Or do you have a different definition of democracy?
I was laying in bed earlier on, but curious to check the news. There was this period of time between me waking up and checking the news where I said to myself 'I'm waking up and getting up to the UK staying anyway'.... and the first news I read is "Britain votes to leave the EU"....
I am quite stunned to be honest. I didn't think this would have happened. But clearly many people are fed up and as many of you said, this sounds much like an anti-establishment revolt....
Politicians will have to readjust themselves....
Anyone heard from any politician's reaction from other EU countries yet....?
Didn't expect this either and in hindsight, betting on Britain exiting would have been a really good risk/reward trade. If Britain did not exit, risk would have been pretty low in that there would not have been an upside shock. If Britain did exit, odds of a downside shock would have been pretty high. Thus, shorting the market would have been a good trade.
While I was fully covered with options, I did not go net short. My portfolio was constructed with probabilities in mind and not expected payoff. I guess seeing things like this before they happen is what made Soros & Druckenmiller such good traders. Something I most definitely need to work on.
European leaders expressed shock at a Brexit result that represents the biggest setback in the EU’s history and will plunge the bloc into a new era of crisis and uncertainty.
Sigmar Gabriel, Germany’s deputy chancellor, summed up the mood in a terse tweet: “Damn! A bad day for Europe.”
Brexit was a “political earthquake for Europe”, which would now require “swift changes to become more than just the EU minus Great Britain,” said Sebastian Kurz, the Austrian foreign minister.
The seismic vote will deprive the EU of one of its largest member countries, a state with a UN Security Council veto which accounts for around a sixth of the bloc’s total economic output. It will also initiate two years of messy divorce proceedings, plunging the EU into a long era of uncertainty.
