Brexit: This Backlash Has Been a Long Time Coming | naked capitalism

Globalization has winners and losers. Surprise, surprise the losers aren’t happy. Who’d have thunk.

The Brexit vote shows that globalisation leaves people behind – and that ignoring this for long enough can have severe political consequences

Source: Brexit: This Backlash Has Been a Long Time Coming | naked capitalism

Andrea Leadsom could be PM in weeks, and these telling discoveries prove she’d be a disaster | The Canary

Aside from the issues raised in the article, Ms. Leadsom was on the BBC when the Brexit win was announced. Her response – now is the time to take a deep breathe and think about the next steps. Right, jump off the cliff and then think about the parachute. Maybe her campaign symbol should be the Coyote from the Road Runner cartoons.

Evidence that damages her bid to become next PM

Source: Andrea Leadsom could be PM in weeks, and these telling discoveries prove she’d be a disaster | The Canary

Bear Stearns 2.0? UK’s Largest Property Fund Halts Redemptions, Fears “Vicious Circle” | Zero Hedge

Beginning of the end?

In the summer of 2007, two inconsequential Bear Stearns property-related funds were gated and then liquidated, exposing the reality of the US housing bubble and catalyzing the collapse of the financial system. While equity markets have rebounded exuberantly post-Brexit, suggesting all is well, British property-related assets have tumbled and, as The FT reports, Standard Life has been forced to stop retail investors selling out of one of the UK’s largest property funds for at least 28 days after rapid cash outflows were sparked by fears over falling real estate values. As one analyst warned,

Source: Bear Stearns 2.0? UK’s Largest Property Fund Halts Redemptions, Fears “Vicious Circle” | Zero Hedge