Was trying to stay up the whole night to get the Brexit results 1st hands in London but alas, fatigue and sleep got in the way, and went to bed around 2 a.m. with 20+ of 382 results in.
When I woke up this morning in London, UK voters had voted to be 'Out of EU' by 51.8% to 'Remain in EU' of 48.2% at 7+ a.m. The next thing I learn is that the British Pounds dropped by more than 11% as the 'market' was expecting UK to vote: 'Remain in EU'!
Then the rest of the world financial market started trading and everywhere you see 'blood on the streets', it is very interesting to learn that Brexit has such powerful power to decimate the world financial market when UK's trades with the rest of world is surely not as big as the damages its exit from EU had inflicted!
Someone from Asia asked me if the UK folks are in party mood or in remorse? Well, the answer is: the 'out' are elated while the 'in' are deflated. The traders who bet 'out' are smiling all the way to the banks and those who bet 'in' are crying till the tears run dry! Such, is the case with financial market. Nothing physically or real had happened and yet the amount of money gained and lost is simply staggering.
Personally, I feel that any national referendum CANNOT be decided by a simple majority since millions of lives are impacted by this one decision. A better solution will be the motion is carried only when there is more than 75% majority!
Will this ever be conducted in Singapore? Think about the 'disgruntled voices against the massive influx of foreigners' in 2011. Had that been put to a national referendum and with a simple majority carrying the motion, Singaporeans would have voted: stop the influx of massive foreigners. Maybe even more than 66%!
What will happen to EU besides what will happen to UK is the next big question. European Common Market was a miracle. EU brought it to the next level. Yet, it is a creation that is destined to fail when some members are just parasites and expecting Germany to shoulder all the bad things that come about due to the very same members who are not pulling their weights and working hard.
EU is a collection of countries with diverse cultures and customs and work ethics. Some are still blaming Germany for not taking all the refugees and not bailing out Greece even if the Greeks are not interested to 'cut their standard of living'!!
Someone quoted our late Mr Lee Kuan Yew on 'EU is not an inspiration for Asian or Asean and that it is destine to fail' in 2012 or around that time. Well, many EU skeptics had predicted the demise of EU for many years. Someone has to be right!
Notes: the analysis of the UK 'In or Out' votes revealed potentially more problems: N. Ireland, Scotland and most of London voted 'In' and may trigger these regions to want their own referendum to be Independent so they can be IN the EU!! Also, the younger folks want to be 'IN EU' while those middle aged are split while those above 65-year old predominantly voted 'OUT of EU' and you can see troubles ahead! The OLD folks will not have any YOUNG people working and paying taxes to support them!
When I woke up this morning in London, UK voters had voted to be 'Out of EU' by 51.8% to 'Remain in EU' of 48.2% at 7+ a.m. The next thing I learn is that the British Pounds dropped by more than 11% as the 'market' was expecting UK to vote: 'Remain in EU'!
Then the rest of the world financial market started trading and everywhere you see 'blood on the streets', it is very interesting to learn that Brexit has such powerful power to decimate the world financial market when UK's trades with the rest of world is surely not as big as the damages its exit from EU had inflicted!
Someone from Asia asked me if the UK folks are in party mood or in remorse? Well, the answer is: the 'out' are elated while the 'in' are deflated. The traders who bet 'out' are smiling all the way to the banks and those who bet 'in' are crying till the tears run dry! Such, is the case with financial market. Nothing physically or real had happened and yet the amount of money gained and lost is simply staggering.
Personally, I feel that any national referendum CANNOT be decided by a simple majority since millions of lives are impacted by this one decision. A better solution will be the motion is carried only when there is more than 75% majority!
Will this ever be conducted in Singapore? Think about the 'disgruntled voices against the massive influx of foreigners' in 2011. Had that been put to a national referendum and with a simple majority carrying the motion, Singaporeans would have voted: stop the influx of massive foreigners. Maybe even more than 66%!
What will happen to EU besides what will happen to UK is the next big question. European Common Market was a miracle. EU brought it to the next level. Yet, it is a creation that is destined to fail when some members are just parasites and expecting Germany to shoulder all the bad things that come about due to the very same members who are not pulling their weights and working hard.
EU is a collection of countries with diverse cultures and customs and work ethics. Some are still blaming Germany for not taking all the refugees and not bailing out Greece even if the Greeks are not interested to 'cut their standard of living'!!
Someone quoted our late Mr Lee Kuan Yew on 'EU is not an inspiration for Asian or Asean and that it is destine to fail' in 2012 or around that time. Well, many EU skeptics had predicted the demise of EU for many years. Someone has to be right!
Notes: the analysis of the UK 'In or Out' votes revealed potentially more problems: N. Ireland, Scotland and most of London voted 'In' and may trigger these regions to want their own referendum to be Independent so they can be IN the EU!! Also, the younger folks want to be 'IN EU' while those middle aged are split while those above 65-year old predominantly voted 'OUT of EU' and you can see troubles ahead! The OLD folks will not have any YOUNG people working and paying taxes to support them!
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