Millennials And The Brexit

I just touched back down at Philadelphia International Airport a few hours ago.  Each summer for years now, we have been spending a week in North Carolina.  Most summers we stay at a home in a gated community in Emerald Isle.

 

A rooftop view from the home we've routinely rented inside a gated community in Emerald Isle, NC.

A rooftop view from the home we’ve routinely rented inside a gated community in Emerald Isle, NC.

 

What beautiful beaches.  It is a completely different experience than the beaches I grew up on in New Jersey.  Not only are the beaches pristine and spotlessly clean, but because they are private, the foot traffic is at a minimum.  People are few and far between.

 

This is as artsy as my photography gets.

This is as artsy as my photography gets.

 

This year was different.  No beach for us!  As heartbreaking as the news was, we still decided to travel to North Carolina on our own, but this time to the rapidly growing Raleigh-Durham area to experience North Carolina’s capital city.

 

After 12 years of living in Philadelphia, seeing Raleigh's skyline for the first time was less than dramatic.

After 12 years of living in Philadelphia, seeing Raleigh’s skyline for the first time was less than dramatic.

 

Much like the Emerald Isle beaches are a very different world than the New Jersey beaches, Raleigh is a very different place than Philadelphia.  Philadelphia is a city that never sleeps.  The non-stop hustle and bustle in and out of the metropolis combined with one of the oldest highway systems in America – the roads feeding the area are essentially widened, formerly cobblestone roads designed for horse and buggy traffic centuries ago – it takes serious dedication to hit the town if you are not a Philadelphia-proper resident.  Living in the suburbs mere miles away as-the-crow-flies, the logistical nightmare that is Philadelphia relegates my visits to special occasions.  Raleigh, however, couldn’t be more accessible.  While the town in its entirety feels smaller than individual neighborhoods of Philadelphia, one can easily drive in from a suburb 20+ miles away on a Friday or Saturday night and find FREE parking within a block of two of your target venue.  For those who live locally that take that luxury for granted, don’t!

 

During this trip, I did what I could to cut myself off from the world and relax.  Still, I couldn’t avoid the sweeping news of the Brexit vote and the ensuing turmoil in the stock market worldwide.  My feeling on the market mechanics is simple: ignore it.  Even after a 2-day 1,000 point Dow drop, the market is still historically overvalued and the slide doesn’t amount to so much as a blip on the radar in the eyes of history.  Until the market drops >30%, don’t wake me up early to tell me about it.  If you feel a dip unlocks value, use it as a buying opportunity.  Other than that, hold.  My intent when I purchase stocks is to own them for life, so circumstances like this aren’t even remotely threatening enough to get me to sell anything.  This is simply emotion at play.  The fundamental mechanics of the companies remain the same today as they were pre-Brexit.

 

That being said, the real story in my opinion is in the hearts and minds of the Millennials.  Voter data from the BBC, broken down by age group, paints and interesting picture.

 

Age Leave Remain
18 – 24 27% 73%
25 – 34 38% 62%
35 – 44 48% 52%
45 – 54 56% 44%
55-64 57% 43%
65+ 60% 40%

 

Age Turnout
18 – 24 36%
25 – 34 58%
35 – 44 72%
45 – 54 75%
55-64 81%
65+ 83%

 

But what does this data mean?

 

Those looking to spin the data negatively cried foul, making the case that those who have to live longest with the vote wanted to stay while those whose lifespans are much more matured don’t have to live with the consequences as long.  Remember, these same analysts who say they believe in democracy believe all individual votes are equivalent – someone who is a net drain on the system who collects oodles of benefits with no taxable income deserves the same voice as someone who pays millions of dollars of tax revenues into the system – suddenly want to argue one vote is worth more than another when things don’t go their way.  The hypocrisy is maddening, but I digress.  The real story is the reason behind the Brexit itself.

 

Brexit was ultimately a referendum on government bureaucracy and lack of representation by the current ruling class – the majority of the British were sick and tired of having the will of the British outsourced to foreign entities, their values trampled over by bureaucrats and their culture watered down by borderless immigration policy.  This was not a referendum on immigration, but rather the quality of immigration.  Brits weren’t upset that immigration was occurring, but were upset that many of those emigrating were not willing to assimilate into British society.  Rather than embrace British tradition, many were setting up their own cloistered areas of town with the intention of forcing Britain to become more like them which begs the question – why ever move there at all?  Clearly, the more likely you were to remember “the good old days,” the more likely you were to want them back.

 

Not surprising, if you attended university, you were overwhelmingly more likely to vote to remain.  My take on the results sums up us Millennials in an unflattering light.

 

  1. Millennials overwhelmingly do not identify with their own country.  We have very little national pride and feel constantly beaten down.
  2. Millennials overwhelmingly do not want to make decisions.  Rather than be our own individual and learn to fly or fall on our own by jumping out of the proverbial bird’s nest, we want to hide in the shadows and let someone else do it for us.
  3. Millennials, apathetic as always, never bothered showing up to vote.

 

And that is the ultimate irony of it.  Millennials are complaining about the results of the election, but voter turnout between ages 18-24 was only 36%, with ages 25-34 only coming in at 58%.

 

Let that really sink in, fellow Millennials.  We are so afraid to go out on our own and take risks.  We are so afraid to fail.  We want everyone to take care of us and give us things – “free” education, “free” healthcare, “free” basic income – yet we’re so apathetic we can’t even drag ourselves to the polls to let our voices be heard?  All you had to do was show up and cast your vote and you would’ve won.  But you didn’t, just like you never left home and never went out and tried to fly on your own.

 

For shame.

 

This is ultimately my problem with the education system.  I am absolutely convinced that the goal of most university education is to create an army of loyal drones to the super-elite.

  • Take out huge sums of money in government debt for student loans that filing for bankruptcy cannot erase – all but ensuring perpetual servitude.
  • Brainwash you into believing you cannot make it on your own without the government providing for you.
  • Slave away as a drone for one of the multi-national corporations that financed your Senator, Representative or President’s campaign, making a low enough wage that you can’t whittle down the principal of your loan due to the overwhelming interest rate.
  • Eventually break down and promise to vote the same people who indentured you even more power to provide a “free” education of even lower quality that will come out of the front end of your paycheck in the form of another tax than willingly out of the back end.

 

This is a very disjointed and emotional post, but my heart breaks for my generation.  We truly cannot see the prison we are creating for ourselves, and our knee-jerk reaction is to keep giving those who are actively imprisoning us even more power at the expense of our personal liberties.  No government will ever take care of you – the only person that can save you is yourself.  There is no shame in failure – many of the world’s most successful men and women have failed countless times before succeeding.  There is only shame in never trying, and we Millennials are becoming the poster children for never trying.  It’s about time we start taking back control of our own lives instead of giving our freedoms away to the government.

All information found herein, including any ideas, opinions, views, predictions, commentaries, forecasts, suggestions or stock picks, expressed or implied, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. I am not a licensed investment adviser.

Anthony

One Comment

Leave a Reply

Your email address will not be published. Required fields are marked *