It turns out that some other people have similar opinions:
Almost alone in continental Europe, Merkel tried to slow the rush to get Britain out of the EU door. Europe’s most powerful leader made clear she would not press Cameron after he indicated Britain would not seek formal exit negotiations until October at least.
“Quite honestly, it should not take ages, that is true, but I would not fight now for a short time frame,” Merkel told a news conference.
“The negotiations must take place in a businesslike, good climate,” she said. “Britain will remain a close partner, with which we are linked economically.”
Others say that Brexit is a warning, but not a catastrophe:
Brexit is a Bear Stearns moment, not a Lehman moment. That’s not to diminish what’s happening (markets felt like death in March, 2008), but this isn’t the event to make you run for the hills. Why not? Because it doesn’t directly crater the global currency system. It’s not too big of a shock for the central banks to control. It’s not a Humpty Dumpty event, where all the Fed’s horses and all the Fed’s men can’t glue the eggshell back together. But it is an event that forces investors to wake up and prepare their portfolios for the very real systemic risks ahead.
(For those of you who don’t know who Bear Stearns and Lehman Brothers are, they were the two largest investment banks which fell because of Mortgage-Backed Securities during the 2007-08+ financial crisis.
Finally, for the most cogent response to this crisis, we turn to Chuck Tingle, and his most recent novel on just this subject:
If you’re not sufficiently warned by the title of that novel, I don’t know what to tell you.