John in the words of the immortal britney spears, oops, we did it again. Lesson number one, never trust your bookie. The brexperts all said it would never happen. But the world was shocked this morning by the news that the brits indeed had voted to part from the European Union. It is a historic decision, one with profound implications across the pond and here at home. We are going to cover this story from all angles for what it might mean for the future of eu and what it might foreshadow in the american president ial race. Our friend john, since the days the European Union was more of a theory that a fact will be my , wingman as we digest this stunning decision of his countrymen to exit, or brexit, stage right. You go put out an online poll, the betting odds were overwhelming that the u. K. Would stay in the eu, and you yourself said earlier this week, you thought in all likelihood you would remain. Here is the question, outside of many catchphrases, what did we miss . Let we missed a lot. A came on yesterday, we wandered outside, but not going to happen. And then my staff said you should be surprised if britain goes, not shocked. It will always be close, a vast amount of people. It was like a Trump Presidency you should be surprised if it happens, but not completely shocked. John h. one of the things this shows, polling was messed up in a lot of ways, and it certainly messed up in capturing the degree of resentment that a certain part of society, certainly all western societies are having right now. Older voters how upset they are at elites and the prevailing order. John m. incredibly upset. Young people voted to remain. Old, annoyed people voted the other way. The interesting thing about polls or referendums, they are always going to be hard. You dont have a previous brexit poll to get a sample from. By any reasonable scale, it was unimaginably bad. John h. the other way from this distance, and i was not in britain through any time, but one time when i am not responsible i think we missed the scale of the failure the , political failure of David Cameron and Jeremy Corbyn. They failed utterly as voters leaders. When you look at the quality of the campaign run by romain and those two guys corbyn basically acted like he , didnt care what the outcome was. Labour was a mostly more than anyone else. John m. his whole stance was , look, the European Union is ghastly, horrible. It is never going to work. John h. and a strong rallying cry. Not powerful. John m. cameron was someone who ran out of luck. He won the last election, the previous election, and then he had done all these things, but suddenly, it will went wrong. One of the interesting things from the American Perspective is all these people, they were told just how dangerous it would be. They were told, you look, sterling is going to die, every recession in the world, and they still thought, they just said, that is it. I dont want any more of this. And the danger for hillary is that people might say, john h. we will get to that in a minute. Experts, not long after the final votes are tallied, u. K. Prime minister David Cameron, who led the campaign to stay in the eu, stepped out and made the brextordinary announcement that he would resign by october saying that the country should be led by someone else committed to this do it alone strategy. The britishn people have made it clear decision to take a different required as such, they different leadership to take it in this direction. I will do everything i can as Prime Minister to steady the ship over the coming weeks and months, but i do not think it would be right for me to try to be the captain that steers our country to its next destination. This is not a decision i have taken lightly, but i do believe it is in the National Interest to have a period of stability, and then the new leadership required. John h. the reverberations have been felt in the United States where president obama addressed the brexit results today at the top of the summit in california. President obama i think yesterdays vote speaks to the ongoing changes and challenges that are raised by globalization, but while the u. K. s relationship with the eu will change, one thing that will not change is there a special relationship that exists between our two nations. That will enter. Endure. The eu will be one of our indispensable partners. John h. negotiations will now commence in a hurry if the jilted continentals have their way. The eu officials in brussels are now trying to calm other nerfs nations as oculus groups in france and the netherlands are talking about following britains lead. John, we could talk about the politics of what happened in britain, which may be totally irrelevant, which may be a totally irrelevant country at this point. But my biggest question is is this the beginning of the unraveling of the eu . John m. possibly. We are already seeing that bit where france and germany are arguing about what to do. Merkel says i want a quick divorce. Lets get this thing out. She also says maybe we need to reform the eu. Because correctly she is taking , one lesson away from this. Fundamentally, the british looked at the eu and thought it was really not that good, and that is part of it. She wants to push through reforms. Francois lawns has never hollande has never done anything there is conversation starting in the next two weeks. That is that short. John h. if france were to withdraw from the eu, if the netherlands were to withdraw, what would be left of the eu at that point . James it is more of next weekend, you have the spanish elections. Le pen is writing was saying she wants a referendum. The netherlands is making noise. You come back to this fundamental thing germany would like to still have a strong economic union, and they can do that. At some point, it faces this huge problem about what to do about france, because germany cannot have peace in its mind without france. John h. and then there is the british question. Boris johnson will be someone intending to take over from cameron. Likehe woman who seemed she will be a strong contender. Teresa may, it seems like she will be a strong contender. Corbyn probably has a go to, right . James corbyn was a spectacular underperformer in this. The inability to persuade these things because what happened in this election, the northern towns, the northern heartland, industrial towns john h. labour heartland. John m. they voted overwhelmingly to leave. If you vote for this your jobs , may go. Nobody managed to make that case. Ukip seems to have a better line into those people then corbyn. John h. i look forward to talking up the economic questions. Lets finish up here. , the billionaire republican presumptive nominee, just so happened to be in the know to kingdom today. It was not a political trip. By any means. He was checking on his golf course in scotland. In a press conference this trump spent some time describing the greatest parthree ever in the world, he reacted to the brexit news , comparing its backers to some of his own supporters in america and shrugging off concerns about what the move would mean for the the world currency markets. Trump i really do see a parallel between what is happening here. People want to see borders. They dont necessarily want people pouring into their country they dont know where they come from, they have no idea. I would love to see people take their country back, and that is what is happening in the United States, you see it, that is what is happening in many of the places of the world. They are tired of it, they want to take their countries that. If the pound goes down, they will do more business. The pound is going down, and lets see what the impact of it is. John h. Hillary Clinton, who had urged the british to remain in the eu, calling this for a time of calm experienced , leadership in a conference call. Her aides took aim at the republican opponent, saying trump was selfcongratulatory , flippant about economic andoil, and a reckless erratic egomaniac that could drive us off the cliff. This would have implications for the impending brexit. This is another reminder of the potency of the trump message. I think this is a very, very ominous sign for the people in the United States. It is a cautionary tale for the Clinton Campaign. If this works in england, it could work for donald trump. What is different about today is the flow through between that britain first impulse and trumps america firsts slogan. He shows up in slogan with a Great America again hat on. At the same time, those that wanted to leave the European Union their slogan was take back , our country. There are clear parallels, chris. Hundo p. John h. john, you are a british person, but you have spent a lot of time in this country and no a middling about it at least. James thank you. Is, whatmy question are the lessons americans looking at the president ial race, what lessons for the draw from brexit and how could it be applied in the next few months . James you should never be john highlands editor twice. If you sat there and you wake up you have done this thing which only donald trump would approve of. For americans, you look at this, and it is a long those lines. Exactly as the people were saying, the same sort of, i int want to take experts, just want to send a message to politicians i am angry with, and i want a precise way to do it. I want a way to do it. That is some ways the worrying thing. John h. the parallels are striking, make America Great could have been the slogan of take our country back. , stronger together, Hillary Clintons slogan. It seems to me Hillary Clinton has some things to think about. No doubt, on the demographics, workingclass noncollege , educated, white, older they were the ones who were for leaving. James pennsylvania, those types of things. John h. there is a lot of similarities. There could be serious economic repercussions. Thewill have to deal with fact on the ground. The other thing is that the remaining forces in britain basically, as you have said, they played the fear card. They said fear of the unknown. , you dont want to take this leap in the dark. Voter said, yeah, we will take the leap in the dark. Hillary clinton has been playing the fear card against trump so far. Needs a positive vision to take she needs do not just demonize trump but also show the positive vision to take the country because that is what the remaining people did not do in britain. John m. cameron sort of failed with that thing. He did not get the inspirational thing. This is a cosmopolitan looking at britain immigration, the single thing that really killed them. One of the reasons the Britain Economy has done so well because it has attracted people from everywhere. That is this an argument hillary might make, but she is in. John h. coming up, what this eu s uncertainty is doing to Financial Markets in the u. S. And overseas . We will talk about britains existential crisis right after these words from our sponsors. June 23 will become a National Bank holiday, and we will call it independence day. The country requires fresh leadership. To take it in this direction. Britain will continue to be a great european power. John h. in the immediate wake of the uks vote to leave the eu stocks in london and europe , plunged. Joining us now for a brexclusive interview for the Financial Markets is vonnie. How bad was it . Vonnie it was worse because of how good it was yesterday. People remained with high hopes, and suddenly at about the seventh hour, it was an oh, dear. By 11 00, one of the major areas started reporting, and onto the major big cities, it became yeah the pound literally dropped , 18 big figures. It was held overnight. It felt for 30 hours straight. John h. this was what, the worst they in european markets since 2008 . Yeah, i mean vonnie yeah, i mean for the pound, it was the worst since 2008. That said, the swing was a 1. 46 but we round that not long ago, so it is not like this is an event of the ages. It could be worse next week, volatile indexes up to 75. You saw stock indexes on mainland europe dropped 8 , 6 for germany. Not as much of the ftse 100, but banks are really the barometer of this whole affair, down by 10 . John h. as someone inside the Financial Markets as we head into monday, you are thinking about, the weekend is going by, no major news is going to occur. People are still absorbing what happened last night. What happens on monday . Have the markets begin, and what is the mindset the psychology of , the markets . Vonnie people will look for opportunity. Speaking with someone who has been in the market for a decade, literally speaking after market close, he was disappointed people just didnt know how strongly people felt in the likes of liverpool. Like with china in 2010, not so much, but he was talking about stocks this afternoon. If you are talking about growth on bond at managers, this would make you feel like this indicates a finance by the populace. He said the lows are close to 1. 25 . John m. dont you feel at some point it will keep going down voter once the british begin, once you look at the british economy without people wanting to invest their . Vonnie we are talking this is , the shortterm. In the immediate term, it is about how fast they can get it done, which is probably not fast at all. Poundwise, some of the best currency strategists say, 20 valuation is likely. For other countries, we will see interventions. John h. you are really great and really scary him a kind of terrifying. I will say thank you, anyway. Up next more from Donald Trumps , golf course press conference. Also, my interview with the daily show host trevor noah about the state of the american political system. We will be right back. Mr. Trump it is a very historic day. This was one of the big votes in the history of europe and scotland and everywhere. Weve taken the lighthouse which is a very, very important building in florida and in scotland. We have made certain changes to the course. In addition to that, we have fully renovated the course. Brandnew sprinkler system, the highest level. John h. that was donald trump, billionaire, at his golf course cut press conference golf course press conference in scotland. Joining us from the fairways is nbc correspondent on the trump beach, maybe an inspiring golf reporter katy tur. , my question for you is, for a lot of people watched the press conference this morning, it seemed a little surreal in the way trump went about it, not addressing the brexit vote until after taking the opportunity to start with this statesmanlike filigree. Give me a sense of what it is like to be there and what struck you as supporting surprising on the ground versus over here . I am like onf all, our 14, so i hope you will excuse my espresso. Youre right. Trump flying into scotland, landing in in political chaos and talking about a very brief thet when he came out for formal press conferences, it was like nothing in the world was wrong. Everything was hunkydory. Donald trump talking about his resort, and that is the wife all of these reporters are here, talking about the sprinkled system bring system he renovated, all the holes on the golf course. As you played in the soundbite a minute ago. Then, when he opened it up to reporters, then he was asked about brexit and that is when he started acknowledging that there was a global, potential crisis going on. Donald trump even saying that the pound, it could get devalued, that would be good for him because more tourists will come overseas to this golf course. He praised, as you know the , voters for taking back their country. The same message he has been hitting on the campaign trail. Immigration, trade, and a sense of nationalism. The campaign, despite the surreal press conference, the campaign is seeing the vote here in the u k as a potential sign they are tapping into this antiglobalization wave that they can capitalize on in the states. John h. the Clinton Campaign really trashed tromp, attacked him for the comments he made about benefiting from the fall of the pound, saying this is typical of donald trump. All he cares about is himself, his own bottom line. This is another example of white he is not suited to be president. Does trump care about that kind of criticism . Katy it does not seem like he does. I asked him at his press conference why were we are here, number one, and if he agrees with the accusations that this is one big brand, or rather than service,n for public or if it is in some ways, both this is the ninth trump property he has taken reporters do in the past year. There is trump towers, mora lago, the gc hotel, here in and tomorrow, we will be in aberdeen, and that will be number 10. It does start to feel that way like we are seeing the best of , Donald Trumps very lavish life. But what he does when we asked , him about that, he says this is what im going to do for the country. This is how the country will end up living if im in charge. For a certain voter, that is an extraordinary appealing message. They see dysfunction in washington, dilapidated infrastructure, their own homes they wish they were able to afford, fix up, and then they see darla donald trump at this marvelous estate in scotland with marvelous golf courses, mara lago, and that is inspirational to a certain segment of the population, but there are others seeing this as very selfserving. John m. tell me about the response of the scots and the british to this, because it must have seen completely bizarre. He seems like a creature from near outer space with a white hat. Katy you know what was interesting maybe donald trump , will call on the american arerters, more, me included , because british reporters are bound to be much more brutal. The british press, as you know no holds barred. , he only called on a few of them, but when he did, they were biting questions, snickers among british and scottish reporters. To pointr asked and out the Council Members that showed up, he could not do that. The fmp did not show up, he did not show up. The Major Players in local politics out here were not here for Donald Trumps spe