The Brexit Affect - News, Sports and Weather

The Brexit Affect

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It's been just over a month since Britain voted to leave the European Union. Will Brexit Have an effect on your investments?

It's been 36 days since the Brexit vote,

"The citizens of the United Kingdom voted exit the European Union, which is a currency union and also a trade block".

A trade block is an agreement between countries or international organizations regarding goods and services at an arranged price. So when a country removes themselves from that agreement, it could effect the other countries involved. Shortly after we saw a havoc in the stock market.

But Mike Kubas of D.A. Davidson says although stocks were down after the Brexit vote, the us economy is still on the rise.

"There's a big difference between the stock market and the economy, the economy is much more stable than the stock market or the bond market for that matter. So our economy right now is growing right now by 2 percent which a little bit below trend but its still growing. "

He says for the most part the us economy is not solely reliant on foreign investors but is supported by Americans.

"70 % of our economy and actually its bit above 70 % right now is driven by the us consumer, so we consume what our companies produce so we're somewhat of a self sustaining economy"

Kubas did say that we might be affected by Brexit when is comes to exporting goods because the Pound itself is down.

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