by Daniel R. Amerman, CFA
With the victory of the “Leave” camp in the June 23rd referendum in the United Kingdom, the world finds itself on the edge of a financial precipice.
Crucially – we are not over the edge, not yet. But it is right in front of us.
This is far more serious than anything that we have seen since 2008. And if we go over that edge then something potentially much worse than 2008 is in front of us. Which is exactly why Alan Greenspan is saying this is the worst financial situation of his lifetime, and why George Soros is now predicting that the disintegration of the EU and the euro is “practically irreversible”.