Brexit fuss nothing but market fear mongering
I have been watching this Brexit business on CNN for the last two weeks non-stop because it is non-stop. The UK leaving the EU is not going to affect anyone seriously with the possible exception of the EU. Of course there will be minor glitches here and t
All of the fear mongering going on in the news services is just that, fear mongering. And the only real purpose it serves is to give the big players in the world markets an excuse to sell off. When the big sellers sell the little guys begin to panic and they also sell. Once the big boys feel that it has bottomed out, they begin to buy everything back and at a considerably lower price. Of course, the little guys, who have been frightened out of their wits by CNN won’t buy until the price is almost back to where it was and that is how the big investors make their money. I have been watching this circus for decades and it never changes. An earthquake, typhoon, a large corporation going bankrupt or the premier of China passing wind – all excuses to sell and begin the panic.
I assure you that all of the disasters predicted because a minor player in world affairs makes a big move will not happen. It will never happen until the US finally defaults on its national debt, which, as I reckon, will occur in the not-too-distant future. Now that will be something that CNN can build a career on.
John Arnone
