THE RIFT (September 18, 2014)
How is the Scottish referendum going so far? I check every now and then on the World Wide Web, but I never check the referendum itself. Instead, I go to the websites that cover the relevant stockmarket indices. I focus on the pound sterling with respect to the dollar and the euro. It is early afternoon, and the investors worldwide are happy. There has been not a single jitter in the indices I have followed since the morning. Scotland will stay in the United Kingdom, that is. It will be interesting to check the same indices tomorrow morning, though. Will they be drooping somewhat because the referendum has failed? For too many people up north of the British Isles will be unhappy, no doubt. In the long run, they cannot but be a nuisance, and not only a political one. The investors are bound to notice the problem sooner or later. On this score, the stockmarket indices will be worth watching for quite a while. The intrepid investors will follow the rift within the United Kingdom more assiduously than the politicians.