In the early hours of Friday morning, the world learned that voters in the United Kingdom had decided to leave the European Union. Some of the people who voted in favor of leaving the EU were stunned, they couldn’t believe it had actually happened. One man even told BBC News that he didn’t really expect his vote to count — proving just how dangerous low-information voters can be.
As soon as word got out, the stock markets lost billions of dollars. The London Stock Exchange’s top-tier FTSE 100 index fell 500 points, the biggest loss since the 2008 financial crisis that crippled the world. The FTSE 250 index dropped 11.4%, its biggest drop on record.
The pound’s value dropped to the worst levels in decades:
According to Buzzfeed, banks were hit incredibly hard:
High street names such as Barclays, RBS, and Lloyds were always likely to be hardest hit by Brexit, which puts as the future of the UK’s place as the centre of finance for Europe under threat.
Barclays plunged by 40% at one point, but after conciliatory words from Leave frontman Boris Johnson and German chancellor Angela Merkel, it settled to a fall of 20% instead.
These dire financial repercussions, caused one senior banker to lash out when Buzzfeed asked his opinion about the Brexit vote:
Fucking disaster. Single most irresponsible, grossly misconceived act of self-harm in history. Every single one of the leave leaders must be held accountable and not allowed to slope off. Johnson’s speech was grotesque, our own homegrown Trump. Boris Trump. C*nt.
He’s absolutely spot on. Just like Donald Trump, Boris Johnson wanted to make “Britain great again.” By “great” they both mean discriminating against minorities by pushing for white supremacy and nationalism. Both men believe that immigrants have no place in their countries, which is ironic because both countries were built on the backs of immigrants. Both men appeal to “poorly educated” voters who don’t think about the consequences of their actions. These voters are the ones who say,”Hold my beer and watch this!” Both men also appeal to the rich, white elites who won’t really feel the ramifications of their stupidity.
What is so scary about the Brexit vote is that this could be us in just a few months. Americans could very well wake up one November morning to the reality of President Trump. Our stock markets would plunge too. Our banks would lose their value. Our country would be thrown into economic uncertainty if we do not all come together and vote blue.
This isn’t a game. The world markets could not survive both the UK and the USA screwing around. I guarantee we would make us all look back on the 2008 financial crisis with fondness.
Featured image via Spencer Platt/Getty Images