Quite against the widely held consensus of all those elites – in the media and politics, and experts of all kinds – who know everything about everything, the British people decided by a huge margin of 1.27 million votes to ‘Leave’ the EU in the just-concluded referendum, with a turnout of 72%, the highest in any elections since 1992. The first casualty was the media, which looked gutted like a fish, with all their certitudes upended. The financial markets had convinced themselves that ‘Remain’ had the edge, especially after the unfortunate murder of the MP Jo Cox the week before the referendum was due. After all, the political experts, the talking heads on TV, the polling outfits and the media, which are supposed to have their pulse on the public mood, were unanimous in saying that the momentum in favour of ‘Remain’ after the murder was remarkable and unstoppable. Unfortunately, it was not, and the reading of the public mood was terribly and tragically wrong. Financial markets are paying and will pay the price. But unlike what some Tory ministers of the ‘Remain’ faction are saying – “I told you so: Britain has made a terrible mistake, the sky is going to fall on all our heads” – the markets will settle down after some bloodletting and losses. That will of course, mean some people will lose their jobs but this is not 2008. There is no fundamental crisis. Will the UK or the EU go into recession, as some are speculating? Perhaps, but not because the British people – or more accurately the English and Welsh – voted to leave the EU. If there is a recession, it will more likely hit the EU than the UK, and for reasons that are endemic to the slow train-wreck the EU is beginning to resemble.

lets face it... the real reason many people wanted to "leave" was because of immigration. that is the single largest reason. The english were walking around looking at an increasing number of people who didn't look like them and said... hmm... We should kick these fellows out!

I was amazed to hear that Brits wre busy googling what the EU is hours after the results were out.