Friday, June 24, 2016

She's Right: Brexit Just Screwed British Millennials

I really have to agree with this sentiment.
For all intents and purposes, the referendum result is just the latest in a series of attacks on my generation’s future. First came the financial crisis, caused by poor decision-making on the part of baby boomers across the world. Soon after came austerity measures that disproportionately affected young people in favor of protecting British pensions. Now we are being forced from the European Union — against the wishes of the vast majority of young people — in an attack from a generation that will live to see very little of its consequences.
I mean she has been European her entire life and suddenly people that have no skin in the future of the European world have snatched that from her. Now the Brits have to renegotiate everything from the outside instead of making changes from the inside. Their negotiating power just went into the toilet.

I mean if I were Ireland and Scotland its time to break off from Britain and re-join the EU. Suddenly the locus of financial power would move from London to Dublin and Glasgow. US financial firms like how they can send their people over to another English speaking country and London doesn't have to be it.

In any case millennials have been seriously ripped off by the Boomers. Stuck with crisis after crisis and saddled with trillions in debt they will end up being far poorer than their parents. I wonder if there will be youthful brain-drain out of England into the EU going forward? Would be interesting to see.

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