The United Kingdom has historically extolled its citizens to "keep calm and carry on." And that moniker has been popularized again, recently, on coffee mugs and other places. It is a mantra that should be heeded by all of us, in the aftermath of the United Kingdom's vote to quit the European Union.
After all, nothing changed today, and nothing will change for some time. We are at beginning of a process.
Handicapping the possible outcomes, the best case scenario would have the remaining European Union leadership channel their inner Abraham Lincoln, and embrace his famous phrase and approach to reconstruction, which urged malice toward none and charity toward all, in moving the United States forward, after the Civil War.
Already, there are reports that the Germans are considering a plan that would take just that approach, giving the United Kingdom a preferred partner status. Despite the bitterness that must surely exist that is exactly what should occur, as it is in Europe's best interests.
The United Kingdom never full embraced the EU. It kept its own currency and central bank, among other things. It was more of a "friends with benefits" relationship than a marriage.
To the extent talk or plans for punitive measures against the United Kingdom emerge, the selling being seen across the markets, today, is just the beginning.
To be sure, except for those who celebrated, wildly, the so-called Brexit vote, everyone went to work today. The trains ran, and bread was baked.
Currency values are being reset. Neither the pound sterling nor the euro will benefit from this, as any bilateral trading hindrances will affect their respective economies. The dollar should get a lift from this, along with the yen.