For some it’s a normal Friday, for others today is a day of great concern over the stability of the financial markets around the world. Why? If you haven’t heard already the Britain voted to leave the European Union — the 28-nation governing body in Europe.
This decision was made by a referendum where millions of voters in the U.K. had to choose whether or not to remain in the EU. The outcome was a shock to many who predicted that side favoring remaining in the EU would eke out a victory.
Today, Britain’s Prime Minister David Cameron announced he would resign by October and the markets plunged. The Dow Jones Industrial Average was down 500 points in the first minutes of trading and by mid-day still have not recovered. While this was the worst drop since the economic crisis, financial analysts urged people not to worry — they say this is sell off is “organized disappointment” and not panic trading.
Well that’s a little background about the ‘Brexit.’ But what does this have to do with the U.S. presidential election? It might have some impact.
Presumptive Republican nominee Donald Trump has suffered almost a month of negative attention, failed to raise the kind of money a major party’s nominee should be raising, and Trump still hasn’t unified the party.
Meanwhile, presumptive Democratic nominee Hillary Clinton made history as the first woman to be nominated by a major political party and members of the Democratic Party are beginning to support her — if they hadn’t already. She also has around $43 million in her campaign’s war chest compared to Trump’s $1.3 million.
But this week could end up being a rather bad week for the Democrats. On Wednesday, Trump gave a 45 minute speech making the case that Clinton is the “most corrupt person” to seek the presidency.
His speech won a lot of praise on the networks for being presidential and was hailed as a speech that could rally the GOP to support Trump and stop Hillary Clinton from winning in November.
Also on Wednesday, House Democrats organized a sit-in on the House floor to protest in action on gun control. And while they garnered a lot of media attention, they failed to force a vote and House Republicans have painted the Democrats as immature and hammered them for breaking House decorum — by eating on the floor and using their cellphones.
Today it was announced that the U.K. voted to exit the EU. Why might this be bad for President Obama and Hillary Clinton? In April, President Obama urged voters in the U.K. to stay in the EU which led to much backlash from British media and voters who felt the president was being condescending and meddling in their politics.
Donald Trump supported the movement to leave the EU and said it was the same kind of populist movement that had supported his campaign in America.
Political analysts on Friday questioned whether the Obama administration is out of touch with the will of the people, and almost praised Trump for predicting the ‘Brexit.”
Trump has been making which is: The Washington politicians are out of touch with the will of the people and want what’s good for themselves not the people.
That’s what Trump said about Clinton in his speech on Wednesday and that message may have been reinforced in today’s news.
Will the ‘Brexit’ have an impact on the election? If anything, it may give Trump much needed momentum and help his campaign get back on track.