Brexit

[bmags]

So on the banking front, this is kind of interesting from DLA PIper's site:

Post-Brexit, there is, on the one hand, scope for regulated firms which do business both in the UK and the EU to be exposed to two sets of regulatory requirements which may be equally onerous but in different ways; whereas, on the other hand, if the UK takes the opportunity to lessen the burden of regulation, firms may see this as an opportunity.

https://www.dlapiper.com/en/uk/insights/pub...ncial-services/

 

UK could water down their banking regulations. And we'll have iceland part 2

[StrangeSox]

Wonder how much the years of unnecessary austerity policies helped to drive this result.

 

If Scotland leaves the UK, it pretty much guarantees tory political dominance.

[ptatc]

But then if you look at how many people vote that way in the state, more people vote democrat.

Correct, thus the areas with less people don't get heard. All policies would be driven by cities without regard for issues in rural areas.

[bmags]

Wonder how much the years of unnecessary austerity policies helped to drive this result.

 

If Scotland leaves the UK, it pretty much guarantees tory political dominance.

 

But those were TORY policies. They went through double dip recession and knew this would be result. It's because they are old and already "got theirs", who cares about the rest?

[Y2HH]

People who live in cities should have their votes count less than those living in more sparse areas, got it.

 

As opposed to people who don't live in cities should have their votes count less?

 

And by the way, nobody said this. We're merely pointing out that the entirety of the US doesn't revolve around a few densely populated cities. Because, well...it doesn't.

[southsider2k5]

I think a lot of people are coming to the realization that the Brexit means less to us than it does to them...it's also not instant like a lot of people seem to think. It's going to take them over 2 years to exit the EU. And if anything, the UK was like a EU-lite member anyway...they didn't even use the Euro and were exempt from a ton of EU mandates as it was.

 

Totally this. It really isn't a big deal for the US.

[ptatc]

People who live in cities should have their votes count less than those living in more sparse areas, got it.

No but all interests should be represented. This is why I prefer the electoral college and the representative democracy the US has as opposed to a true democracy where only the most populist views are heard.

[Balta1701]

I might be the only one connected to any scientists in Europe here, so I'll add that scientists around Europe are totally freaking out right now. Science funding in Europe has been done by EU grants that the British were a major contributor to - a small slice of the money being sent out went to fund science in Europe, The European Space Agency, etc. Then, much of that money came back in the form of grants that British scientists could apply for or projects they could participate in (there's only 1 CERN). If the British aren't going to contribute to that portion of the fund, then that means multi-year research grants are going to be majorly hurt both in the UK and the rest of Europe until at least they work through the multi-year boondoggle it has now created.

 

Furthermore, students who are working on college degrees have been freely moving between universities using EU funding for decades and they're potentially going to get caught. So either for the next few years, the rest of Europe has to stop funding British grant proposals and stop accepting British students until an agreement is figured out (you can't start funding a project if you know the funding won't last 3 years or the student won't be able to stay there for 4) or there are going to be a lot of students stranded half way through their majors when the money paying for them to be on the continent vanishes at some future date.

 

The British will then have to set up their own peer review system for funding proposals independent of the EU, and if the money was actually directed to the NHS (it won't be) they'd also have to come up with another funding source for that.

 

So basically, for anyone currently at university or potentially at university in the next few years in the UK or the EU, this is a complete disaster. It will hurt people for 5+ years until new systems are figured out.

[bigruss]

I know a friend of mine already mentioned ESA doesn't get impacted by this as it technically isn't part of the EU. Not sure about other scientific agencies.

 

And that isn't to say Britain still doesn't pull funding but it's not an immediate pull out at least.

[Balta1701]

I know a friend of mine already mentioned ESA doesn't get impacted by this as it technically isn't part of the EU. Not sure about other scientific agencies.

 

And that isn't to say Britain still doesn't pull funding but it's not an immediate pull out at least.

It's not an immediate pullout, but grant funding is typically done in 3-ish year projects. So if you're applying for a grant this year as a British scientist and 2 years from now the British will have pulled out completely, who pays for the 3rd year? Can you even apply at all? Will the EU just decide not to fund proposals from British scientists this year (that's what I'd do if I were on that review panel because the project couldn't be completed). Can you accept a student on a 3-4 year ph.d. project if you're a scientist in france and they're from the UK?

[ptatc]

I might be the only one connected to any scientists in Europe here, so I'll add that scientists around Europe are totally freaking out right now. Science funding in Europe has been done by EU grants that the British were a major contributor to - a small slice of the money being sent out went to fund science in Europe, The European Space Agency, etc. Then, much of that money came back in the form of grants that British scientists could apply for or projects they could participate in (there's only 1 CERN). If the British aren't going to contribute to that portion of the fund, then that means multi-year research grants are going to be majorly hurt both in the UK and the rest of Europe until at least they work through the multi-year boondoggle it has now created.

 

Furthermore, students who are working on college degrees have been freely moving between universities using EU funding for decades and they're potentially going to get caught. So either for the next few years, the rest of Europe has to stop funding British grant proposals and stop accepting British students until an agreement is figured out (you can't start funding a project if you know the funding won't last 3 years or the student won't be able to stay there for 4) or there are going to be a lot of students stranded half way through their majors when the money paying for them to be on the continent vanishes at some future date.

 

The British will then have to set up their own peer review system for funding proposals independent of the EU, and if the money was actually directed to the NHS (it won't be) they'd also have to come up with another funding source for that.

 

So basically, for anyone currently at university or potentially at university in the next few years in the UK or the EU, this is a complete disaster. It will hurt people for 5+ years until new systems are figured out.

Knowing many of these people as well, it's more for the students outside the UK. The funding for the students in the UK should be fine as much of the money they contribute to the EU funding will stay in-house now.

 

Forming an IRB will not be difficult.

 

However, the groups outside the UK are crapping their pants due to this scenario.

[Chisoxfn]

Totally this. It really isn't a big deal for the US.

It is from the perspective that we are a global economy and this puts negative, downtun presures, not only on the UK economy but an already weak European economy. Additionally, it will push our rates lower (in the never ending fight for quality) and make it harder for us to have interest rates at a level that is appropriate for the health of a long-term economy.

[Texsox]

If it was to protect smaller states they wouldn't have been awarded proportionally.

It still protects them. Montana's population would just be absorbed into a bigger demographic. By awarding specific votes based on Montana only results it forces candidates to specifically try to win Montana instead of lumping them in with North Dakota, South Dakota, Why-oming, etc. It preserves the idea that these are states that are united.

[Quin]

I also find it funny that the only people without a congressional voice are from highly populated areas, DC and Puerto Rico.

[bmags]

Obama giving a pitch perfect speech right now.

 

[ptatc]

People take stable government for granted. For everyone that hates the "x would be worse" arguments, now you'll get to see how true they re.

 

British pound devalued, and they just left the one of the largest trade markets in the world.

 

It kills me that it's driven by older voters too. Burning the world down for their children from immigration scare mongering. Never fails.

According to the demographics here, the highest votes came from the lesser income and lesser educated groups.

 

http://www.theguardian.com/news/datablog/2...it-vote-was-won

[knightni]

According to the demographics here, the highest votes came from the lesser income and lesser educated groups.

 

http://www.theguardian.com/news/datablog/2...it-vote-was-won

http://arstechnica.com/tech-policy/2016/06...ch-trends-tech/

 

"What is Brexit?"

[ptatc]

http://arstechnica.com/tech-policy/2016/06...ch-trends-tech/

 

"What is Brexit?"

Hence the less educated group.

[southsider2k5]

It is really too bad that the big picture is getting missed here. Both with Trump and Brexit, there are a lot of people fed up with the system and the way things are going in their respective countries. They feel like they don't have a voice, and with 21st century politics having turned into it being more important to mock your opponents than to actually learn something from them, these are the ways that people see they can even the score and stick it to the man. It would be nice if we could look at things in gray's anymore instead of black and white. Fixing a flawed system doesn't have to be a victory or a loss. But when the alternatives that get set up are extremes of one side or the other, people can't be surprised when the flow is to the opposite extreme of what we have been doing.

 

Brexit should scare the crap out of anyone here in the United States because that same undercurrent of anger, resentment, and frustration exists right here in the US, and has already given us Donald Trump. More important than what the guy actually stands for is why people are actually gravitating towards people like him, and even Bernie Sanders to a large extent. Hopefully people starting paying attention the "why" before it is too late here.

[bmags]

According to the demographics here, the highest votes came from the lesser income and lesser educated groups.

 

http://www.theguardian.com/news/datablog/2...it-vote-was-won

Those aren't mutually exclusive.

[ptatc]

Those aren't mutually exclusive.

No they aren't but age also wasn't the demographic that had the highest correlation to the vote. Just thought I would add to the information.

[ptatc]

It is really too bad that the big picture is getting missed here. Both with Trump and Brexit, there are a lot of people fed up with the system and the way things are going in their respective countries. They feel like they don't have a voice, and with 21st century politics having turned into it being more important to mock your opponents than to actually learn something from them, these are the ways that people see they can even the score and stick it to the man. It would be nice if we could look at things in gray's anymore instead of black and white. Fixing a flawed system doesn't have to be a victory or a loss. But when the alternatives that get set up are extremes of one side or the other, people can't be surprised when the flow is to the opposite extreme of what we have been doing.

 

Brexit should scare the crap out of anyone here in the United States because that same undercurrent of anger, resentment, and frustration exists right here in the US, and has already given us Donald Trump. More important than what the guy actually stands for is why people are actually gravitating towards people like him, and even Bernie Sanders to a large extent. Hopefully people starting paying attention the "why" before it is too late here.

Agreed. This is the bigger picture and bigger worry. Too many people want black and white or right and wrong and this polarizes the field.

[Texsox]

More important than what the guy actually stands for is why people are actually gravitating towards people like him, and even Bernie Sanders to a large extent. Hopefully people starting paying attention the "why" before it is too late here.

 

This is the second time today the comparison was made between Bernie and Don. I believe it is a very good point.

 

[Balta1701]

It is really too bad that the big picture is getting missed here. Both with Trump and Brexit, there are a lot of people fed up with the system and the way things are going in their respective countries. They feel like they don't have a voice, and with 21st century politics having turned into it being more important to mock your opponents than to actually learn something from them, these are the ways that people see they can even the score and stick it to the man. It would be nice if we could look at things in gray's anymore instead of black and white. Fixing a flawed system doesn't have to be a victory or a loss. But when the alternatives that get set up are extremes of one side or the other, people can't be surprised when the flow is to the opposite extreme of what we have been doing.

 

Brexit should scare the crap out of anyone here in the United States because that same undercurrent of anger, resentment, and frustration exists right here in the US, and has already given us Donald Trump. More important than what the guy actually stands for is why people are actually gravitating towards people like him, and even Bernie Sanders to a large extent. Hopefully people starting paying attention the "why" before it is too late here.

What I find particularly interesting is that I think you're generally right with the "scare the crap out of anyone" part, but your answer for the why is "more important to mock your opponents" and I think that's 100% as much being in denial as what you try to condemn. I think this is a complete failure to acknowledge the major driving force - actual economic grievances. The provinces that voted strongly for this, away from the financial center in London that has grown rapidly, are people who have had 5 years of 2 recessions followed by the Austerity program. They've had health benefits and jobs cut as the Conservative government cut its budget, and the only place that was growing at that time was a financial center/industry.

[Texsox]

What I find particularly interesting is that I think you're generally right with the "scare the crap out of anyone" part, but your answer for the why is "more important to mock your opponents" and I think that's 100% as much being in denial as what you try to condemn. I think this is a complete failure to acknowledge the major driving force - actual economic grievances. The provinces that voted strongly for this, away from the financial center in London that has grown rapidly, are people who have had 5 years of 2 recessions followed by the Austerity program. They've had health benefits and jobs cut as the Conservative government cut its budget, and the only place that was growing at that time was a financial center/industry.

 

Another good analysis. I don't think either party really "feels the pain" of the working poor and over worked middle class.