Daveslist #4: Brexit Breakdown Special Edition

This entire issue is devoted to what just took place in Europe. The United Kingdom (Britain, Scotland
Daveslist
Daveslist #4: Brexit Breakdown Special Edition
By Daveslist • Issue #4
This entire issue is devoted to what just took place in Europe. The United Kingdom (Britain, Scotland, Wales, Northern Ireland, and the remaining British protectorates - that’s a fancy word for colonies) voted yesterday to LEAVE the European Union. 
I am not overstating things when I say this move is on par with South Carolina seceding from the United States in December 1860. That isn’t to say I believe a European civil war is imminent (I don’t, of course), but that the follow-on effects of this vote will be far reaching.
Hopefully this issue answers all your questions about the significance of this event. Let’s get to it:

Shit just got real.
Shit just got real.
A little background leading up to the vote:
Britain Leaving the EU - For and Against
This is a quick (and cheeky) primer on the arguments for and against leaving the EU, done as only exurb1a can do it. After these five minutes you’ll at least know what’s at stake for both sides.
Last Week Tonight with John Oliver: Brexit
Now we get a little more in-depth analysis from the one and only John Oliver. Over the course of this 20-minute rant, Oliver lays out the case for Stay in such a way that you probably feel like a moron if you’re on the Leave side. You can tell he’s pretty passionate about this but, in the end, his arguments were all for naught.
The vote itself:
Britain's Brexit: How Baby Boomers Defeated Millennials in Historic Vote
Old people are the worst. The youth vote was overwhelmingly to remain in the EU because, you know, they’re actually going to have to deal with this for decades. Old folks? Not so much. 
We have the same problem on this side of the pond, and it’s why we’re going to put someone in the White House long after they should have been set adrift on an ice floe. (Was that kinda harsh? Cause it felt kinda harsh.)
The British are frantically Googling what the E.U. is, hours after voting to leave it
Low information voters are the same on both side of the Atlantic, so when the average Brit woke up this morning and realized what happened, they figured it might be a good idea to Google it and see what it was that they actually voted for. I’m guessing the results were unpleasant for most.
Repercussions:
British PM David Cameron Announces He Is Resigning, Says UK Needs 'Fresh Leadership'
British Prime Minister David Cameron quit this morning after the resounding defeat. This adds even more political chaos to an already incredibly volatile situation. Everyone’s fear is that UKIP will become more powerful in the aftermath, and that isn’t good for anyone.
Jeremy Corbyn could face leadership challenge within days as Labour MPs submit no confidence motion after Brexit
David Cameron’s chief antagonist in the Labour Party is on the hot seat as well, after members of his party submitted a No Confidence motion against him. Thus far he has refused to resign, but the chips are only now beginning to fall and could easily take him down as well.
European stocks plummet on Brexit vote; DAX, CAC slides 10%, pound falls
British stocks dropped as much as 7% in at one point today. It’s probably only the beginning.
The pound is crashing on UK vote to leave the European Union
The pound has crashed to levels not seen since 1984.
And it's only just beginning:
The Brexit contagion: How France, Italy and the Netherlands now want their referendum too 
When people talk about this leading to the disintegration of the EU, it’s not hyperbole. These things tend to take on a life of their own (of which the US is painfully aware), and once one of the cool kids leaves the party everybody else starts looking for the door. 
Brexit: Nicola Sturgeon says second Scottish independence vote 'highly likely'
The United Kingdom is about to be a little less united. Scotland voted overwhelmingly in favor of remaining in the EU, and since the vote went the other way they’re now preparing to leave the UK.
Thousands Of British Refugees Make Dangerous Journey Across The Irish Sea
You can always count on the Irish to turn it all into a joke (especially since they only stand to benefit from the Leave vote). With multinational companies like J.P. Morgan and others contemplating leaving London for Dublin, the Irish are laughing all the way to the bank (no pun intended)
That’s it for this special edition. These are the days that make me wish I were still a currency trader. Have a fantastic weekend, and feel free to forward this to anyone you think may be interested.
DAVE
Did you enjoy this issue?
Daveslist
The 10 best stories you probably missed, delivered to your inbox every Saturday morning.
Carefully curated by Daveslist with Revue. If you were forwarded this newsletter and you like it, you can subscribe here. If you don't want these updates anymore, please unsubscribe here.