Alternative Visions – Brexit—What are the Consequences of the June 23 Vote – 06.17.16

Jack reviews in detail the upcoming UK vote to leave the European Union. Cameron’s ‘faustian’ bargain is coming. What will the ‘devil’ demand? The origins of the vote and likely consequences of a Brexit are considered, for the UK, for the EU and for the US and rest of the global economy.  The likely effects on the real economy, as well as more volatility for global currencies, more central bank money injections, more negative interest rates, slowing real investment and declining productivity.  Brexit as a proxy for discontent over the conditions in the UK economy, immigration effects, cultural and sovereignty issues. Brexit as a reflection of discontent with supra-national free trade agreements and cross-nation capitalist integration efforts by global financial and economic elites. Jack compares Greece efforts to reform the EU to current UK efforts to do the same and predicts UK will also fail.  An alternative scenario post-Brexit: nothing happens for another two years under Article 50 of the EU treaty.