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stocks plunged and loomed in britain over what exactly happens next. one consequence came early. prime minister david cameron wanted to stay part of the eu and announced he would step down. >> i think the country requires fresh leadership to take it in this direction. i will do everything i can to steady the ship over the coming weeks and months, but do not think it would be right for me to be the captain that steers our country to its next destination. >> a leader was nigel, the head of the right wing uk independence party. he warned of a fifth column living in our country who hate us and want to kill us. he celebrated the victory for, quote, normal people." >> ladies and gentlemen, dare to dream. the dawn is breaking on an independence united kingdom.
>> we forward against the internationals. we forward against big politics. we forward against lies, corruption and deceit. let june 23rd go down in our history as our independence day. [ cheers and applause ] >> president obama joined almost every other world leader in backing the uk to remain in the eu. he said the u.s. would respect the decision of british voters. >> just a few hours ago, i spoke with prime minister david cameron. david has been an outstanding friend and partner on the global stage. i think yesterday's vote speaks to the ongoing changes and challenges raised by globalization. while the uk's relationship with
the eu will change, one thing that will not change is the special relationship between the two nations. that will endure. the eu will remain one of our partners. >> donald trump and hillary clinton split on it. today, traveling in scotland, he had this to say. >> my opinion is what happened should have happened. i think they will be stronger for it. they will control their country and everything about their country. >> meanwhile hillary clinton supported them staying in the eu. we respect the choice of the people in the united kingdom. our first task has to make sure the certainly does not hurt families in america. we have to remember the relationship with britain and the relationship with europe. we begin with a monumental vote for great britain and what it could mean for the world. julia, i'll start with you at
the table. walk through the implications of the vote. what happens in the next year, two years. >> three sets of indications. a lot of financial market turmoil. we have seen that in the dow jones. the big question is what happens on the political side of things. that's going to be a messy thing between the uk and the european union. that takes longer than anyone expects or a lot more cost. it's going to be nasty. >> hasn't the eu vowed to be tough on britain, not make it easy to walk away? >> it's like a divorce, throwing wild statements around. let's hope calm heads rule. right now, it looks messy. the thing is it's a domino
effect. the fact that you have a lot of national parties elsewhere in the european union saying they want referendums, too. the thing to recognize is the uk is not the country where voters are unhappy with the european union. places like france have discontent. the third question is about economy. what does this mean about growth? they are about to slow down a bit. this is not going to help. >> christopher, to that point, you have rumblings in france on doing the same thing. on the other hand, scotland saying they will part from great britain because they want to stay. talk about the instability we could see? >> the big question mark is france. britain always had one foot out of the european experiment. it was not part of the euro zone or free travel zone inside the
european continent. france is at the core of it. europe is unpopular in france. 41% of the french wanted great britain to stay in. only, i think, 52% of the french think that their lives are better because of the european union. >> immigration became a focal point of the campaign. the uk independence party showed a poster campaign and warned britain to take back control of our border. it was taken in slovenia last year, not exactly on britain's doorstep. there's a concern it's anti--immigrant sentiment. that is a concern. you are talking countries absorbing refugees. how much was that a part of the vote as opposed to economic unrest. >> you have outrage about globalization reminiscent to
1930. it took years before you got protectionism to come. in some ways, it's like a delayed reaction to the financial crisis. how a rage benefited from globalization and to many people what has happened in the last 24 hours is absolute madness. we wrote today that this is probably the most disastrous event in british history since the second world war. it's similar to the berlin wall coming down and yet the reality is, a large part of people regard this as a victory, something that is going to be good for them. that issue of populism is posing big questions in the uk and america. of course, it's the kind of thing fueling donald trump right now. >> the difference, christopher, between the u.s. and the uk is our response in this country, to the huge collapse in 2008 was investment, the stimulus. there was a huge fight over it. you have the world bank and
others pushing aus tearty. is that part of the health care system, cutting benefits and the pain from cameron's own policies. >> maybe to some extent but there are paradoxes here. for one thing the national tax service could barely function without the immigrant labor, people working as nurses and doctors in the national health service. are they going to leave? what's going to happen to the national health service. these are the thing that is come up. it's about the sense of insecurity as people look at the
world and feel their lives are going to change. their country is not going to be the same anymore. the people who sold brexit we are going to build a wall, protect borders, keep the immigrants out. they are not coming into britain. we are going to do all the things that, for instance, donald trump says he's going to do in the united states. at the same time, we are going to be independent and able to deal with the globalize zed world and be fast movers and great businessmen. it's all crap. that's not what's going to happen. what's going to happen as the ft pointed out is people are not going to be able to move around. young people in britain are not going to be able to do that. people who are working in britain are going to have to leave or re-negotiate their status. it's going to be a disaster. >> for the grace of god, this is
happening. your vote does count. thank you both so much. coming um, could it happen here? britain's vote to leave europe is the same anti-elite, anti-immigrant forces powering donald trump's campaign. i'm going to ask james what hillary clinton needs to do for an emerging global trend. plus, financial markets have plunged in the brexit vote. thing could get much worse before they get better, and what the decision to leave in europe means for your money. bernie sanders says he will vote for hillary clinton, but he's still in the presidential race. finally, as the vote to leave europe, britain was comforted by the tweets of lindsay lohan. we have that one, xt. new ways to be taken care of. home, car, life insurance obviously, ohhh... but with added touches you can't get everywhere else, like claim free rewards... or safe driving bonus checks.
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they're taking back their independence and that's a very, very important thing. >> welcome back to "hardball." that was donald trump celebrating the news of the uk's divorce from the european union. he touched down in scotland as the markets continue to nose-dive. at a press conference, which bordered on the surreal, he highlighted his personal business accomplishments and touted the market's instability. >> the pound goes down, more people are coming and the pound has gone down. let's see what the impact of that has. i think places like scotland and england and different places in great britain, you are going to see a lot of activity. the pound got high and people weren't able to do, maybe, what they wanted to do. for traveling and other things, i think it could turn out to be a positive. >> what was made clear is
populous anger has been on the rise throughout europe and the united states. trump capitalized on that. trump highlighted the parallels between the uk and the u.s. saying come november the american people will have a chance to redeclare their independence. vote for trade, immigration and foreign policy that is put citizens first. they will have a chance to reject the global elite and embrace real change of a government of, by and for the people. vice president joe biden speaking in ireland pushed back at trump's assertions. >> some politicians find it convenient to scapegoat immigration instead of welcome them. to play to our fears. to play to our fears rather than, as abraham lincoln said, the angels, divide us, based on religion or ethnicity rather than unite us on humanity.
late today, hillary clinton released this ad taking trump to task. take a look. >> are you traveling with any of your foreign policy advisers? >> i have been in touch with them, but there's nothing to talk about. >> the dow is lower by 500 points. >> if the pound is down, they are going to do more business. when the pound goes town, more people are coming here. >> for more on what it means for a few joined by james and heidi. thank you both for being here. i'm going to start with you, james. donald trump is trying to tie himself to the brexit vote, maybe not realizing the brexit vote is going to be catastrophic for the uk. >> well, i also think he doesn't understand what's going on. he's standing in scotland. this enhanced the chance that scotland is not going to be part
of the uk. they voted overwhelming to stay in the european union. the other thing, he's talking about how this is going to help. last time i checked, florida is a swing state and very, very much british tourism in florida. kind of nice, great economics. that's going to make it very extensive for british tourism in places like florida. maybe he's get a few more votes, but that ain't going to help him is -- what's going to hurt him is the swing state like florida. >> the clinton campaign had a press call. just about every question had to do with whether or not the phenomenon where you have older, white voters voted to exit and what the clinton camp is going to do about it. do you have a sense the campaign is concerned a similar phenomenon, without the brexit,
but that demographic phenomenon could help donald trump beat her? >> not the same demographic, but the same caliphate, and this is a rejection of globalization, a rejection of immigration policies, trade. but i think there's a sense in talking with the clinton people, we have 136 days until the election, which means americans have a chance to see what the aftermath of this is. here we are, not even 24 hours out and you are reporting on your network about buyers remorse, the markets are plunging, the pound is plunging. there's a sense hillary clinton has an opportunity with an argument she's been making, look, this is not the right example of how to go about this. the right example is to benefit from globalization. from those spoils to be shared more broadly. for those companies that have been enriching themselves and
the richest among us to share with them more with the workers. if you look at the specifics of her policy details, that is what she's been talking about from the beginning of her campaign. depending on how it plays out in the next 136 days, there's an opportunity for her. let's not forgot, the same forces didn't just power donald trump, they powered bernie sanders. the polls are showing the bernie sanders voters are coming home to hillary clinton. that is her challenge, to keep them where they are. >> james, i will use a phrase familiar to you, it's the economy, stupid, right? that was the key phrase for the bill clinton run in '92 and '96. the data says the economy is very good. unemployment low, under 5%. the stock market booming. there's a public research international poll 7 in 10 americans feel we are in a recession. some don't feel the economy is as good as the numbers say? isn't there a danger that hillary clinton doesn't have a
language to communicate to people that we are not doing that badly and that she understands they still feel pain? >> yeah, and i thought her speech in north carolina was a significant step in the right direction. there's no doubt things around the world happen. if you look at the last election in israel, feelings there. get the top of brazil. something behind that. get the vote in austria that clearly went up the right wing part and look at this and you see it among certain people, a rong reaction. i think in the united states, there's much more reluctance for that kind of thing. i mean, when you stop and think about it, trump is saying he can yank the country back to some glory day that he thinks. i think that she continues the path she is on in north carolina and talks about this stuff and forging a future as opposed to yanking us back to the past, she is going to do great. you can't deny that around the
world, there are force that is are reacting to the globalization, immigration, you know, the whole kind of range of things. i also think we are different, considerably different in a lot of ways than other people. i think she has a chance as the vice president as president lincoln said, to appeal to a bed of angels. i am confident she will do that. >> heidi, do you think what happened in great britain changes the calculation with hillary clinton who she wants out there making the case on the economy. does it make the case for elizabeth warren stronger? >> it may. particularly elizabeth warren. they will have a dry run -- some people view it as a dry run this week. it's no secret hillary clinton campaign is very much looking at elizabeth warren, but also how the tectonic plates are moving.
i think prior to this vote, they were very much thinking we are seeing bernie sanders voters go over. maybe we don't have as much of a crisis as we thought. if donald trump is able to, kind of spring board off this and we see another round of polling that shows movement, then i think that changes her calculation. the bottom line is, i talked to her myself in an interview, and she said we are early in the process. i believe her. >> thank you both. coming up, just what does the brexit mean for you and your money? we break down what stocks sell off means for 401(k)'s here in the u.s. that's next. this is "hardball," the place for politics. (war drums beating)
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shoshow me more like this.e. see what the power of points can do for your business. show me "previously watched." what's recommended for me. x1 makes it easy to find what you love. call or go online and switch to x1. only with xfinity. welcome back to "hardball." that was the closing bell at the new york stock exchange. u.s. stocks tumbled with the dow
closing 610 points down after britain voted to leave the eu. stock markets lost $2 trillion in value. the british pound posted the largest one day fall ever. what does it mean for your nest egg? senior analyst, ron. i stayed up with you very late watching this unfold. you were terrific. >> thank you. >> tell us the grim picture. give it to us straight. what will be the fallout from the brexit? >> the real fear, the ultimate fear is that the uk pulls out, scotland secedes to join the eu, then northern ireland, then the french and portuguese, the european union dissolved, economic chaos, a big recession in europe that is difficult to
fight with tools that is spread around the world and affects us here in the u.s. and throws us back in recession. that's the real fear. that's why markets were so surprised by the markets and reacted so violently as they did overnight and here at home. >> thank you very much. that's "hardball" for now. thanks for being with us. join us at 7:00 eastern monday. see you then. d breath. that's why there's biotene, available as an oral rinse, toothpaste, spray or gel. biotene can provide soothing relief and it helps keep your mouth healthy too. remember, while your medication is doing you good, a dry mouth isn't. biotene, for people who suffer from a dry mouth. my bladder leakage made me feel like i couldn't be the father that i wanted to be. now i use depend. i can move the way i really want. unlike the bargain brand, new depend fit-flex underwear is now more flexible to move with you.
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