Overlock Hill Quarterly
June 29, 2016
I couldn’t stand it to wait any longer. A couple of days back, I fired off an E-Mail to my Canadian friend, John Quinn, asking for his views interpretation of the Brexit vote in the UK, given he is citizen of a British Commonwealth nation. John grew up in many places as his father was a General in the Canadian Forces.
John travels a great deal, especially in the UK and he is probably the best read, best informed person I know. So, I imposed myself on him for his views of the recent vote. He forwarded a virtual copy of an article in the New Statesman, Britain’s Current Affairs & Politics Magazine. (see footnote for URL)
In the aftermath of an unpredictable vote in United Kingdom; many around the United States are a bit stunned by the outcome, present company included. And, yes, I agree with the premise that making the “economy argument” to an already disenfranchised group doesn’t work.
Along the same lines, there were a series of Economist pieces a few weeks back about how the delayed/slowed recovery had also contributed to this same disconnect, a kind of degradation of elitist principles (and corresponding distrust on the part of the working class), which bottom feeders like Trump have historically exploited during times of economic inequity. The term “fascism,” of course, was thrown around, but, more interesting (and to point) the idea of two separate realities post-recession was introduced: the economy versus blue collar or main street realities. That being said, the Economist still implied that the [Leave] vote was a long-shot. I think, though, what I am trying to say to me is that this latest bump (or implosion) in the road is indicative of ongoing, still wider divides between the markets and politics and not to be used as a gauge for long-term investment strategy.
On a side note, I could empathize with author – Laurie Penny’s lament of the loss of “The Country of David Bowie,” my “Country that never existed” is the one promised in the Star Trek series, ideas and storylines originally birthed during the post-WWII decade when the United Nations seemed a plausible stepping stone toward the future of a tolerant, outward-looking humanity. This was one united behind the idea that by trusting in our best human traits—curiosity, adaptability, resilience—we might eventually carve out a better future for all.
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