Credit: www.funds-europe.com
There are still four and a half months to go before the presidential election. But there’s a vote next week that could matter as much for the world’s future as what happens here: Britain’s referendum on whether to stay in the European Union.
Unfortunately, this vote is a choice between bad and worse — and the question is which is which.
Not to be coy: I would vote Remain. I’d do it in full awareness that the E.U. is deeply dysfunctional and shows few signs of reforming. But British exit — Brexit — would probably make things worse, not just for Britain, but for Europe as a whole.
The straight economics is clear: Brexit would make Britain poorer. It wouldn’t necessarily lead to a trade war, but it would definitely hurt British trade with the rest of Europe, reducing productivity […]
This is all fallacy of consequences. No one knows how this will affect things. There are no facts about the future. They predicted disaster when Britain failed to give up the pound.