Todays crisis. When the pound goes down, more people are coming to turnberry, frankly. And the american parallels. What todays massive victory for rightwing nationalism tells us about clinton versus trump. I would build a wall bigger, better, stronger, than any wall. Nobody comes in. When all in starts right now. Good evening from new york. Im chris hayes. One of the most seismic events in recent World History just took place last night. A geopolitical earthquake that will send shock waves through the International Community and Global Financial markets for years to come. This morning we woke up to a brave new world. After Great Britain voted in a referendum to leave the European Union marking the first of 28 Member States ever to do so. In choosing brexit, british exit from the eu, voters rejected the council of elites. Political leaders and Economic Experts the world over, including their own Prime Minister, the bank of england, the british treasury, the International Monetary fond, nobel prizewinning economists, and president obama who made his case in person against brexit in a visit to the uk in april now here we are. The whole world at this moment careening out into uncharted territory. Tonight were going to be talking about how this happened, where britain goes from here what all this tells us about our own politics in the u. S. First we want to take a moment to absorb what just happened in the uk and try to understand what it means. Very few people expected this day to come. Polls had showed a slight edge for staying in the eu on the eve of the referendum, while betting markets heavily favored the remain side. But in the end the margin was surprisingly wide, with britons leave by 42 to 48 . While the majority of voters in the capital city of london voted to remain, strong majorities in england and wales opted to leave lift paid coalition of largely older and whiter voters with fewer years of education. In the cold light of day some of those leave voters were stunned by the magnitude of what they had just done. Im shocked that we actually have voted to leave. I didnt think that was going to happen. My vote i didnt think was going to matter, i thought we were going to remain. The period of uncertainty were going to have, i think thats been magnified now. Yeah, quite worried. The reality is hitting in and the regrets are filling in actually that we have actually left eu. Very disappointed. The whole family this morning, even though a majority of us voted to leave, we are actually regretting it today. It will take a process of two years give or take for the uk to fully terminate its eu membership. Already some massive changes are under way starting with the collapse of the current government under Prime MinisterDavid Cameron. 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. Cameron will leave office by october and the process to pick his successor yet to be determined. Meanwhile, leaders in scotland, which voted to remain, are seeking a second vote on independence from the uk. Northern ireland too could consider leaving Great Britain and eventually joining with a united ireland. By the time the uks actually out of the eu it might look like an entirely different country, it might be several different countries, some of them part of the eu, while the uk remains outside. Global Financial Markets plummeted today essentially across the board over uncertainty. Not everyone thinks this was such a bad outcome. Guardian reports that russia and iran are delighting in the rejection of the eu. Farright leaders including frances Marine Le Pen hailed the results calling on their own nations to follow Great Britains example. Donald trump visiting one of his golf courses in scotland today predicted a broader turn toward nationalism across the continent. People want to take their country back. They want to have independence in a sense. And you see it with europe. Youre going to have more than just, in my opinion, more than just what happened last night. Youre going to have i think many other cases where they want to take their borders back, they want to take their monetary back, they want to take a lot of things back. They want to be able to have a country again. If that happens, if brexit was just the first domino to fall, this could be the beginning of the end of the entire european project. A remarkable and we must say anomalous 70year period of stability and cooperation that was forged out of the ashes of the deadliest, most gruesome war in human history. Joining me now, edgar loose, dean baker, codirector of the center for Economic Policy and research, Laura Flanders, host of the Laura Flanders show, great to have you all. Everett, let me start with you. Before the whens and whys, the thing at the most macro level that i think had me up late last night tossing and turning was who this empowers. Who it empowers globally, in the uk, it seems to me to put a lot of force and energy into some of the most nationalistic forces in europe right now. It does indeed. I mean, i think the Chain Reaction scenario that donald trump was predicting just now and clearly hoping for across europe is all too possible to imagine. It just takes 300,000 signatures to trigger a referendum in the netherlands, for example. The french, of course, one of the twin motors of europe historically along with germany, are polling at more than 60 , according to a pew poll last week, wanting to leave the eu. Higher even than britain. So the far right there are going to be wanting to use this as a lever to get a frexit referendum. The knockon effect in europe is obvious. Theres a backlash against democracy. Trump is the most obvious example. I used to be based as a philippines. A guy there, rodrigo duterte, who throws people out of helicopters. He was mayor of a city in the south of the country. He throws people out of helicopters, criminals, to keep the crime rate down. Hes just been elected president in the philippines. There is a sort of middle finger going up to democracy as normal, way beyond the west. Dean, i want to get your take and laura as well, but i want to push back on that for a second. To say a middle finger to democracy what could be more democratic than a straight up or down referendum vote in which the voters of the uk decided they no longer wish to be part of the eu . How is that a middle finger to democracy . That looks like democracy in its essence. Sorry, are you asking me . I am, you, yes. I beg your pardon. Its a middle finger to business as usual, democracy as usual. Right. Its a middle finger to the elites, its a middle finger to london and brussels in the case of the brexit vote, and clearly with the trump support, to washington. I think its just a convenient lightning rod. You quoted a couple of people at the beginning of the program saying, essentially, they thought this was a protest vote. Right. They woke up to find it actually happened. Well, then, perhaps there are a lot of voters out there who are a little bit like the Financial Markets. They expected a certain outcome, and voted on that basis. So i think its a lightning rod to express contempt for democracy as normal, not for democracy as such. I would push back on that in the way i think you were going earlier in that this does have democracy at the center, this is about democracy, the lack of it. The lack of it in europe. The unelected european board. The Central European board that is an embodiment of lack of democracy and is in itself kind of insulated from popular pressure. I think this is the national state, the state sort of sowing the harvest that brussels, london if you will, sowing what brussels, harvesting what brussels has sown. A protest vote, a use of democracy against a very undemocratic institution. And the other thing that it is is a reflection of, i dont know what do they think . They thought people were just expounding hot air when they said vast inequality, the failure to share the wealth weakens the economy, weakens society. Did they think we were kidding . This is that reflected in reality. Dean, you have been a strong critic of Economic Management in the eu and particularly as regards countries like ireland and greece and so forth. I mean, some people make the case that was part of what was here, although in some ways the uk has been isolated because they have the pound, they havent been waterboarded underneath german austerity the way, say, the greeks are. Whats your read on that . A couple of things. First off, uk by its own volition has been the route of austerity. They voted it themselves, no one imposed it on them. They vote voted for it themselves. Similar outcomes, not as bad as youve seen across the eurozone, still their economys not been great. Most people have very little to show over the last eight, nine years. Youve had cuts in public services. National Health Service has been a big issue. Peep are talking about older people, older people need health care. By a lot of accounts the national Health Service has deteriorated because of budget cuts. Hasnt been forced by brussels but people may not realize that. People blame immigrants, it wasnt an immigrant story, the fact is people they voted for made those cuts, they should have realized that but didnt, they blamed brussels. A step further, we hear stories of horrible fallout, the case you were talking about where this is the first step, when its france, then whoever else, well, part of that story will be depending on the reaction of the European Union leadership. So if their response is, were going to punish them, were going to make them feel the pain so no one else wants to do this, well, thats an incredible downward path. Theres the old monty python line, the beatings will continue until morale improves. And that is a disaster. What you have to hope for is we have a little learning, some signs of intelligent life in the eurozo eurozone, well have to see. I will say, dean knows this better than i, the level of inequality in the uk is something that has to be looked at very closely. We have in the last two years evidence to suggest from the National Board of statistic in the uk that youve seen an increase in wealth going to the top 1 of Something Like 21 . Very fast growth of wealth going to the top 1 . With the bottom 45 of the population sharing 9 of the wealth. You have surveys of property, pensions, share wealth, housing, amounting to an average in london of Something Like a millionplus of the average family, versus the bottom 10 , Something Like 12,000 pounds. The contrast is huge. And this is one of the things at the heart of the problem. So yes, you can say, well, they did vote for austerity themselves. Theyll feel more pain. Theyre already feeling the pain. Theyre going to be feeling worse pain because of this. For sure. This is not a rational vote. Theres going to be austerity. For sure. The average tax rates across the rest of the continent, the rest of the European Union, are way more progressive for the most part than they are in britain. This is the same electorate that voted in the conservative, voted back a conservative government, with the majority last year. I think it might be misplaced. Its definitely misplaced. But the idea that europe is the problem, the cause of britains inequalities, is i think a very bad misreading. Absolutely right. But it is the argument that the leave contingent made. Its also one of the things where so much of our reasoning, we see this here with trump, so much of our political reasoning is, if my enemy is against it, then im for it. If my enemy is for it, im against it. If the people i dont like are on the other side i have to say as someone who would have voted to remain were i voting in this election and was actually upset last night, nothing made me want to vote leave more than the condescending tutting, a certain cadre of the Global Financial elite, telling these you idiot british voters better get your act together or were going to take our money and run. One thing i think were almost certain to see is britains financial industry is going to pay a price. If someone wanted to kick britains financial industry, they did it. You might see a collapse of the london financial real estate market, which my view would be all for the positive and might not take the form id like, but you know, very bloated market, a safe haven for rich people around the world, may no longer be the case. For sure. Britain had, you could argue, the best of both worlds. It was did in the European Union, therefore in the single market, but not a lot of the eurozone. It didnt have to wear that pseudo monatarist strait jacket. It was also permitted to is permitted to be the center of trading of the euro. Thats almost certainly going to end now as a result of this. And thats a lot of business. Thats a lot of global bank headquarters. Thats a lot of job. Whatever you think of the overfinancialization of the british or american economy, that is real economic activity. The city of london voted 75 to stay. Yes. And they found out they didnt actually rule the world. Thats right. Thank you all, appreciate it. Still to come, the unnerving parallels between the brexit and our 2016 election. What we can learn from the people who voted to leave and their demographic similarities to Trump Supporters ahead. First Donald TrumpsBizarre Press Conference following the geopolitical vote that was come priced mostly of bragging about his golf course. That and the incredible footage two minutes away. Using 60,000 points from my chase ink card i bought all the fruit. Veggies. And herbs needed to create a popup pickyourown juice bar in the middle of the city, so now everyone knows. We have some of the freshest juice in town. See what the power of points can do for your business. Learn more at chase. Com ink see what the power of points can do for your business. They found out whos been who . Cking into our network. Guess. I dont know, some kids in a basement . You watch too many movies. Who . A Small Business in china. A business . They work nine to five. They take lunch hours. Like a job . Like a job. We tracked them. How did we do that . We have some new guys defending our network. New guys . Well, theyre not that new. Theyve been defending things for a long time. [ digital typewriting ] its not just security. Its defense. Bae systems. It is a very high bar but ill say this. Today might have given us one of the strangers, perhaps the strangest scenes in american president ial campaign history. When donald trump arrived in scotland just hours after the most consequential geopolitical event in recent history, trump began as he often does with a tweet. Just arrived in scotland, place is going wild over the vote, their took their country back just like well take america back, no games that even as scotland as you can see was one of the strongholds of the remain portion of the vote. And then once at his destination in turnberry, for the opening of his golf resort, trump offered a brief acknowledgement of the monumental brexit vote before launching into a 10minute review of the greatness of his golf course and its attendant buildings. Very historic day for a lot of reasons. Not only turnberry. This was one of the big votes in the history of europe. And scotland and everywhere. It was very exciting coming in. And we were landing and we had just heard the results so i wish everybody a lot of luck. I think that its purely historic. Weve taken the lighthouse, which is a very, very important building in florida i mean, in scotland and weve taken that building and made it something really special. Inside the light house right now is incredible suites. Brandnew sprinkler system, the highest level. A lot of the people think this will be the greatest par 3 anywhere in the world. Considered one of the most beautiful buildings in golf. Where tomorrow watson chipped in from an area you couldnt hit the green let alone get it in the hole. Since we opened, we opened a number of weeks ago, we havent had an empty slot. Peter, youll be hear to hear this. We havent had one empty slot, its morning to night. The reviews of the course have been phenomenal. Not just like good. Even people that truly hate me are saying its the best theyve ever seen. Keep in mind, this is while Global Financial panic is happening. After that three of trumps children who were traveling with him took turns at thanking their dad for the opportunity to work on the family business. And then finally trump took questions. It was only then that trump got around to offering further thoughts on this rather important geopolitical event. At this moment of profound uncertainty, appears first interested in how well he might make out on the small scale followed by how well he might make out on a large scale. If the pound goes down theyll do more business. The pound goes down, more people are coming to turnberry, frankly, and the pound has gone down. I love to see people take their country back. And thats really whats happening in the united states. And i think you see that. And thats whats happening in many other places in the world. Theyre tired of it, they want to take their countries back. I have a lot of friends living in germany that have always been very proud germans. To a level that you wouldnt believe. Now those same people, some of them, are saying theyre leaving germany, theyre moving. They never thought of moving, now theyre thinking about moving, because of the tremendous influx of people. You know whats happening in germany. Its a real problem. Not t