Brexit is the first case since the Second World War of a major global economy choosing, of its own free will, to leave the international system.
Already, the economic costs of that decision are staggering, and they will worsen. The Financial Times this morning reported that the proposed sale of Tata Steel and Tata Motors, Britain’s largest steel producer, and its sister car company, to foreign ownership has been stopped.
The people in the towns where those steelworks function voted to leave the European Union by 57 to 43 percent. Now their employers, who will not be their employers for long, will have no access to the largest market at hand. This is what economic suicide looks like.
Read More @: Why Brexit Is Much, Much Scarier Than You Think