Just a couple of thoughts about Brexit, which I haven't really paid much attention to, despite having lived in England when I was a graduate student at Cambridge:
First of all, as usual, to American commenters, it's all about us, ranging from some guys on right wing websites blaming the whole thing on Obama (naturally,) to the standard mainstream take that, just like with Trump, it's about a bunch of angry working class white people who hate minorities in their country. This, of course, ignores another, and potentially much more damaging issue, "austerity." Under the doctrines of austerity, the entire economy of Europe has to be subservient to the banks and seeing that investors don't lose a nickel on their loans, regardless of how irresponsible they were. And the unfortunate reality is that the countries within the EEC who have all the power are the rich ones (I'm talking you here, Angela Merkel) which, of course, are home to all the bankers and investors. So, guess who calls the tune?
Making the whole economy respond to the interests of the rich is, of course, hardly a new idea. If you are interested in how it works out, you might care to look at the Presidency of Calvin Coolidge, who turned the running of the economy over to one Andrew Mellon, one of the richest and greediest people in history, who proceeded to set the government on a course of financial support to bankers and investors, and no one else.
Well, a lot of people in Europe are sick of this kind of thing, but to read most of the reporting, it is all about hating immigrants. The truth is, the real powers behind the throne in Europe could have easily avoided the exit of Britain by recognizing the damage they were doing by catering to their rich friends' interests, but of course, as in the United States, a large part of the guys who vote on such things don't give a damn about how much damage they cause, and so we end up with Cyprus, and Portugal, and now Brexit. If the European Union does fall apart, it will not be because of immigrants, but because of the intransigent refusal of corrupt leaders to budge one inch from their servicing of the rich.
By the way, just to return to some good old American self-obsession, separating these two issues pretty much defines the difference between Bernie's campaign and Trump's. Of course, the mainstream press will do whatever it can to suppress awareness of any rational opposition to what is economically off kilter in this country, so they try to conflate the two candidates and their followers.
Well, in the end, despite the current panic by the chicken littles on Wall Street, my guess is that in the end this will not make all that much difference. The economic damage that the British exit from the European Union causes is, I suspect, far less than the continuing bleeding that "austerity," i.e. giving everything to the rich, would have done in the future.