Britain is exiting the European Union

If certainty is the friend of the investor, uncertainty is definitely the opposite. The surprising Brexit vote caused investors to quickly move towards traditional safe havens. Currency markets experienced very high volatility as the British pound plunged and the Dollar and Yen rose. Perhaps the biggest concern of investors may be what the Brexit vote may foretell about the influence of populist political movements on other democratic governments.

https://www.nytimes.com/2016/06/25/business/international/brexit-financial-economic-impact-leave.html

Switzerland votes against Universal Basic Income

The Ignorant Investor is currently on vacation and touring the literally breathtaking mountains of Switzerland! This picture is from the gorgeous valley of Interlaken. However, some news just came out that was of interest and so the author emerges for a brief post before returning to trekking around the Jungfrau.


Switzerland has voted against Universal Basic Income, the plan that would provide a base income to ALL citizens. The efficacy is widely debated by many, but this time the Swiss decided the risks outweighed the benefits. What would have once been derided as socialism has been picking up more supporters recently, with Bill Gates and others speaking more positively on the subject, especially in the face of rising automation throughout various industries.

http://www.bbc.com/news/world-europe-36454060