Brexit was not expected – most people assumed that the British will vote to stay in the EU and hence when the results came out yesterday, there was shock and surprise. The dollar strengthened, the pound weakened and stock markets as usual over reacted and fell globally and gold rose by about 4-5%. But these are all reactions from a market that is full of traders who try to predict what will happen in short term and try to make money on a daily basis. In the long run, I believe that not much will change. Brexit does not mean that UK will stop being part of the global trade and that the British will close down their country and will become an Albania. Life will go on in the UK and over time they will untangle the mess and will live happily ever after.
Having said that, one still needs to look at reasons for Brexit and see how it will impact us in the long run.
Globally the gap between the rich and poor has increased in the last 50 years and with the tremendous