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Joy, Hope And Celebrations Counter #Brexit Fears, Agony And Despair
Brexit Approval Sparks Both Celebration And Fears Of Global Economic Meltdown
Voter approval of the Brexit – Britain’s exit from the European Union – led to celebrations for supporters and fear-mongering over the possibility of a global economic meltdown.
Shortly after a vote of 51.9 percent in favor of Brexit and 48.1 percent against it, world financial markets reportedly went into a tailspin. The U.S. economy could also suffer, The Wall Street Journal reported.
Economic instability sparked by the vote could signal the start of another crisis similar to the one in 2008, according to numerous reports.
“The vote instantly creates the biggest global financial shock since the 2008 economic crisis, this time with interest rates around the world already at or near zero, stripping policymakers of the means to fight it,” Reuters news reported.
But those in favor of the Brexit called it a victory for people who are sick of EU’s unbridled immigration and other globalist agendas. For supporters, the Brexit’s approval was a statement by people who are fed up with the lies and rip-offs perpetrated by big government, big banking, and big business.
Following the vote, Nigel Farage, leader of the UK Independence Party, said the EU is a “doomed project.”
“Dare to dream that the dawn is breaking on an independent United Kingdom,” he said.
European, Asian stocks and S&P futures plummet, as U.K. votes to leave European Union membership. FX carry trades everywhere go haywire, with the Dollar and Yen spiking while the Cable overnight plunged to 30 year lows and at last check was trading just around 1.37, down 1,300 pips from yesterday's highs. A modest rebound was experienced when first the Bank of England and shortly after all other central banks promised to pump virtually unlimited liquidity into the financial system. Ironically, all of this takes place a day after Fed’s stress tests showing all 33 banks exceed minimum requirements - we may find out just how "unstressed" they are as soon as today.
Although it was his responsibility to remain in No 10 to "steady the ship" - including by attending a meeting of EU leaders next week - he announced he would step down in the autumn as he was not the right "captain to steer the country to its next destination".
Potash Price Surge Could Lead To Higher Food Costs For Billions
We are on the precipice of a food fight among 7 billion people, and potash will be right at the center of it. If you can add 200,000 people every day to the global population and account for a significant loss of farmland at the same time, you can begin to understand the dire food situation facing the planet. This is why potash is so important: It’s the fundamental element that everyone takes for granted, despite the fact that a projected 7.7 billion lives will depend upon it by 2020. No commodity is more fundamental than potash—and there is a lot of pressure riding on an element that many people aren’t even familiar with. Of the key commodities taken for granted, potash is on the top of the list. The challenge for farmers—and for the world—is to increase crop yields on less land, which is being lost to climate […]