Well it seems our friends over in the UK have said “Cheerio!” to the EU, and though that may seem like news that doesn't really have anything to do with the U.S. due to the large geographical distance between us, I’m here to burst your bubble, ol’ chap.
See, Friday I was in a café when I overheard two young ladies talking about the Brexit results. Being the nosy person I am, I began listening to their conversation, when one of them said something that I couldn't believe:
“Why are people freaking out over this Brexit sh*t? It's not like we live there or anything.”
My dear American brothers and sisters, please do not fall into the trap of ignorance that this poor unfortunate soul has, as you (and your parents) will find that it does NOT equal bliss, especially when the post-Brexit economic slide hits you. The UK’s decision to leave the EU has a global impact that no one could see coming — oh wait, literally anyone who knows anything about global economy could see it coming. So here I am to help you see some of the effects that Brexit has on the land of the free and the home of the brave.
- Did you feel that? That was a sucker punch right in your 401k. I know, it hurts, especially if you wanted to retire within the next half decade or so (p.s. that’s a hearty group of people in the U.S.). Americans are dipping into their savings to try to fill the deficit their plan’s sudden shrinkage caused after the cold water hit. Now for you youngsters who think that doesn’t really apply to you, ask your parents or grandparents how they're feeling — I’ll bet you good money they aren’t too thrilled.
- If this upcoming presidential election is the first time you’re legally able to vote, Brexit could be throwing a bit of intensity into the mix, and your favorite orange candidate suddenly has a lot more to say (I know, I didn't think that was possible either). Donald Trump’s platform on immigration is now going to be more hardcore then ever #buildallthewalls. Sine the UK’s fear of the recent major immigration shifts holds a parallel with what the US is feeling too, Trump’s going to be all over this.
- The UK is now not in our Top 8 spaces; no, I’m not talking about Myspace, I’m talking about trade deals. Though our relationship with them has kind of resembled a "friends with benefits" dynamic, the UK may be getting a lot less loving from the US, whether it be trade deals or basic sharing of information, now that our big leeway into the EU’s major policy-making power is now the union's ex. That’s what I'd call a messy breakup.
- For all of you US students whose friends are saying “Dude, we should totally go to London!”, you may actually want to take your stupid friend’s advice. It’s cheaper now then ever to go to the UK, since the pound is seeming more like an ounce after it’s rapid depreciation. Also, there is going to be way less tourists heading in the UK’s direction now that all the EU tourists won't be making visits, so your dream of seeing a big clock named Ben is closer to being reality.
- There is a small chance your mortgage will be cheaper — but don't bet on it. The Federal Reserve is now more cautious about their initial plans to raise interest rates, and with the small decline in average rates for certain mortgages, you could catch a small break. Not if you're looking for new real estate, though, so hold off on that two-bedroom, two-bath with the hardwood floors you love so much until some of this dust settles.
- Just all the instability. Now that the UK has left, who else will want to leave? A lot of European countries are now saying, “Wait, we’ve wanted this for a while!” I’m looking at you, Greece. Scotland’s not on board, though, since they voted to not leave with their friends with equally cool accents. Do I smell a referendum in the future? With all of this tension, the chances of something less-than-friendly sparking in the near future are substantially higher.
If you have no idea what I’ve been talking about for this entire article, you can click:
In summation, Brexit DOES affect you as a US citizen, mostly in regards to your wallet. And even if it didn’t, you should really know about this stuff anyways. Stay woke, my friends.
