"What an amazing vote.
The people of the United Kingdom defied the supposed experts, rejected a fear-based campaign by advocates of the status quo, and declared their independence from the European Union.
Here are some takeaway thoughts on this startling development.
- 1. The UK has voted to leave a sinking ship.
Because of unfavorable demographics and a dirigiste economic model, the European Union has a very grim future.
- 2. Brexit is a vote against centralization, bureaucratization, and harmonization.
It also is a victory for more growth, though the amount of additional long-run growth will depend on whether the UK government seizes the opportunity for lower taxes, less red tape, and a smaller burden of government.
- 3. President Obama once again fired blanks.
Whether it was his failed attempt early in his presidency to get the Olympic Games in Chicago or his feckless attempt in his final year to get Britons to remain in the EU, Obama has a remarkably dismal track record.
Maybe I can get him to endorse the Boston Red Sox, thus ensuring the Yankees make it to the World Series?..."
Read on!
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