Top News Today –
Brexit Passes;
British PM Cameron Resigns

OK, Brexit has passed.  Great Britain is leaving the European Union.  British Prime Minister David Cameron is resigning over the vote.  So, how many of us fully understand what “Brexit” is about and what the fallout will mean for the rest of the world?  Read on…

Top News Today
The European Union (EU)  is composed of 28 nations: Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom (Great Britain).  In Europe, countries are frequently the size of some American states, so the European Union was loosely based on the U.S. model of uniting states.

Being so small and so close together, each of the EU countries entered into an agreement to establish a favorable monetary market, borderless travel (no visa required), the free movement of people, goods, services and capital, among other benefits.  The EU motto: Unification = Less War. More money.

The union has worked well since it was first established in 1958, however some citizens of Great Britain thought of it as unfavorable. Those citizens have long considered England as pure (hence, their own currency bearing a photo of the Queen) and strong enough to stand on its own outside of the EU.  These “pure” Brits also weren’t very keen on foreign immigrants freely flowing into their country.  So, the vote to consider a British exit (Brexit) from the EU was born.

Those who supported the “Leave” vote believed that if Great Britain was a non-EU member, it would be able to negotiate better deals with other nations and protect their markets. They also wanted to seal borders, build walls and preserve nationalism (sound familiar?).

Those who supported the “Stay” vote believed that the continued free movement between countries without a visa would be positive for travel and economic growth. They felt that nations united economically made conflict less likely and international markets more stable.

And so, the Brexit vote happened — and it (unexpectedly) passed — and all hell broke loose.

When Great Britain chose to leave the EU, the British Pound crashed to it’s lowest point since 1985 and caused a domino effect in financial markets worldwide, instantly making the country weaker.

So, how does this affect you?  In the words of Donald Trump, “Bigly!”

Top News Today
First and foremost, anyone with a 401K should check it now.  With Great Britain leaving the EU, banks will be forced to move to other EU nations.  In other words, whenever financial centers have to restructure and spend money or make a major change, YOU get to pay for it. Because Brexit negatively impacts European economic growth, it creates a negative trickle down effect on the global markets.

If any of this sounds familiar to you, it’s because it already happened in America as The Civil War. That ugly episode in American history taught us all that secession, financial ruin and the proposed separation of the races are bad for a nation.  Now, Great Britain finds itself in the exact position. They voted to leave the European Union because of anti-immigration sentiments and economic instability, all propelled by politicians who specialize in selling fear (again, sound familiar?).

Sadly, the voting process in America, in Great Britain and in certain international locations has become the equivalent of voting for a singing contestant on “The Voice” — most people don’t take it seriously and don’t always understand what happens next.

Such is the case in Great Britain, where many who voted to leave the EU are now fully realizing the horrific consequences of their actions and are having 2nd thoughts.

Scotland, Ireland and Wales were all part of Great Britain’s United Kingdom.  Now, they will remain with the EU and break away from The UK.

In London, residents and politicians are contemplating how they too can break free from The UK and keep their city in the EU.   For one British woman, her vote to leave felt like drinking herself into a stupor, then waking up the next day in the gutter with no knowledge of how she got there.

“Even though I voted to leave, this morning I woke up and I just — the reality did actually hit me,” she told ITV News. “If I’d had the opportunity to vote again, it would be to stay.”

Regrettably, she does not have the opportunity to vote again, as voters chose to leave 51.8% to 48.2%. Because British Prime Minister David Cameron was a strong proponent of remaining in the EU, the vote to leave was seen by him as a vote of no confidence, causing him to announce his resignation.

“I was absolutely clear about my belief that Britain is stronger, safer and better off inside the EU,” a visibly shaken Cameron said on Friday. “I made clear the referendum was about this, and this alone, not the future of any single politician, including myself. But the British people made a different decision to take a different path. As such I think the country requires fresh leadership to take it in this direction,” the soon-to-be former Prime Minister added.

As the old saying goes: “It’s all fun and games until someone puts an eye out.  Then laughter turns to tears.”  That feeling of deep remorse is what’s happening today in Great Britain — and could soon happen in America.  Voting to leave the long-established European Union — like voting for president of the United States — is not a game.  It’s not like voting for a contestant on a reality television show.  The vote has consequences and you DO NOT get a do over.

Take a hint Trump supporters America.  You’re now on the clock.

OK WASSUP! tracks the top news today, including
the fallout from Brexit and what it means for the world.