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tv   MSNBC Live  MSNBC  June 24, 2016 1:00pm-2:01pm PDT

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we are standing by with the final number and also with a live report as soon as that bell rings. also on our agenda, is it a harbinger, the campaign in britain to leave the eu. there's a lot of parallels to donald trump's campaign back here in the united states. could the shocking result in britain be a preview of what's to come here in november? we have been digging through the brexit numbers all day. as you can see, the bell ringing on wall street right now. trading now officially closed for the day. are we going to go there right now? are we going live to the floor on wall street? are we going? there it is. it's at 600 points. okay. we are going to get an update there -- here it is. mary thompson, cnbc's mary thompson. let's go to her right now. >> steve, an ugly day on wall street with the dow jones
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industrial average tumbling 609 points. the market still settling, those numbers could move on what was a very active day on wall street. of course the reason, the uk's vote that will have it leaving the eu. this was unexpected. the markets had been pricing in a remain vote by the uk, and the markets don't like surprises. as a result, we saw stocks tumble today and safe havens like gold, the dollar and u.s. treasuries benefit from the fear that this has raised among the investment community. the fear, of course, is the uncertainty that lies ahead. the reason being they don't know how long it will take for the uk to extricate itself from the eu. they don't know what kind of implications it will have for the uk's economy, one of the largest in the world, and that will have a ripple effect here in the u.s. they don't know whether or not this is a first step of the uk leaving the eu. if it is, of course that's going to have implications for a market that right now is actually bigger than the u.s., that being the eu, so today on wall street, stocks lower at the open. they remained so throughout the
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session. no surprise there. hardest hit were financial stocks. this once again suggests that interest rates here in the u.s. and around the world, because of the uncertainty, are going to remain low for a very long period of time. that's a negative for banks and insurers. and they were the ones that led the markets lower today. once again the dow jones industrial average off 600 points, but let's keep this in perspective, steve. it looks like a very big number, and indeed it is, 600 points, but it is only about a 3% decline for the dow. we've seen bigger declines on a percentage basis in the past. back to you. >> cnbc's mary thompson. there it is, the final number from the day on wall street. much more on all of the fallout in the financial markets from that brexit vote. other breaking news we are following at this hour, the death toll in that flooding in west virginia now at 14. rescue effort still under way for survivors stranded after storms dumped 9 inches of rain. 44 of that state's 55 counties now under states of emergency. the governor saying the damage
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is widespread and devastating. we're going to have a live report in just a moment. but for now turning back to what really is the biggest story in the world right now, serious financial fallout. we just talked about that from that so-called brexit vote in britain. a stunning 52-48% win for the leave side, for those that want britain to leave the european union. there is political fallout too. it is major, it is immediate. british prime minister david cameron has already announced his resignation. cameron campaigned against the referendum. it was also his decision to hold that referendum in the first place. cameron essentially staking his political career on this vote, and now he has lost everything. take a look here, we can put it up on the grescreen, exactly ho this vote broke down. there it is on the screen right here. you see england and wales. england especially, that's the heart of population in great britain. that's where the leave votes
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came from. you see the blue areas there, though, scotland, part of the united kingdom, northern ireland, they were very much against leaving. they just don't have the population, though, that you have in england. but look at that also, a blue dot there right in the middle of england, that is london. a huge disconnect. this is the sort of thing we see in this country too, a disconnect in britain between urban areas and the rest of the country. look at that, london was against leaving. the rest of england was for leaving. also you add in wales. just enough votes out of those territories, 52% of the total vote to leave. president obama now reacting as well to the brexit, giving his first public remarks after that referendum earlier this afternoon. >> i do think that yesterday's vote speaks to the ongoing changes and challenges that are raised by globalization. but while the uk's relationship with the eu will change, one
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thing that will not change is the special relationship that exists between our two nations. that will endure. >> obama alluding to the challenges of globalization. it's something donald trump has certainly taken advantage of. this election here in the u.s., there are plenty of people speculating that that referendum vote in britain may be a positive sign for trump's prospects in the united states. there were no official exit polls conducted yesterday in britain. there were plenty of polls, reliable polls of british voters on the day of the votes, the closest thing you can get to an exit poll. this is what political watchers are looking for today. let's take you through what was behind this vote in in britain and some of the parallels between what happened there and what has powered donald trump's campaign for president here. take a look at this. this is the leave side, those in britain that want to leave the european union. you can see the younger you are, the more against leaving you
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were in britain. only 25% of 18 to 24-year-olds in britain wanted to leave. the rest of them, three-quarters, wanted to stay. take a look at the other end of the age scale here, 65 and plus, the oldest voters yesterday in britain, more than 60% of them wanted to leave. the older you got in britain, it's a very clear relationship here, the older you got, the more likely you wanted out of the eu. we see a similar relationship with age in the election here in the united states. look at this. among the youngest group of voters in this country, 18 to 34-year-olds, hillary clinton leading trump by 23 points. on the other end of it, donald trump is up by 11. you see a similar situation by the leave side in britain and donald trump in the united states. we talk about education level. if you look at the high school equivalent, in britain that's where their education stopped, they were overwhelmingly for
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leaving. basically a 2-1 margin. university, college grads in britain, overwhelmingly against. 71% of them voting to stay. again, we see that kind of disconnect there too. donald trump's base has been white noncollared voters. but here is a big difference to keep in mind when you're trying to compare what happened in britain with what might happen here in november. look at this, yesterday the best estimate we had from polling is that 94% of the voters who cast ballots in britain yesterday are white. in the united states, in our last presidential election in 2012, that number much lower, only 72%. in fact it might drop even further. this is a country becoming more diverse every election. probably down to about 70% this november. donald trump not doing well among nonwhite voters, so that could be a key difference. even if donald trump is tapping into a lot of the same sent meant -- sentiments, you have a
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much bigger share of white voters here. this is probably the biggest obstacle he faces as a candidate right now. let's head overseas to nbc's keir simmons in london. keir, we talked about the economic fallout of this. politically, though, britain right now is in turmoil right now. >> reporter: yeah, that's right, steve. and you know something, we may be entering a period not for the first time in european history where american leadership will be needed in order to try to get europe through this, because as you know and as this vote underscores, the europeans are very good at arguing with each other. if europe descends into arguments, into disagreements, if the trade agreements that have to be unwound and renegotiated in order for britain to leave the european union are done in an atmosphere of conflict, that will be
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severely damaging to the european economy, which effectively will be damaging to the world economy. now, of course, many of those in the states will be saying we have our own issues and that's exactly the problem. in the states you're going into a general election, while here the prime minister has announced that he plans to resign in three months' time. the opposition party is questioning whether their leader is the right person to lead them forward. so britain doesn't even have the leadership in place to take britain into those kinds of negotiations. that is why it is a very uncertain time. that is why how this all unravels has many, many question marks. and that's not judging whether it was right to vote in or vote out. what the ultimate consequence of all this will be. but it is saying, steve, it may take a very long time and may be very, very painful. >> keir simmons in london. again, the political fallout only getting started over there. thanks for that.
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let's turn to nile, an associating editor at the hill but also from northern ireland originally. and northern ireland part of the uk voting to stay. they wanted to stay a part of the eu. obviously they came in. they did not get their way in this. but take us through what happened here. because it was interesting to me, the polls in the run-up to this thing were basically showing it could go either way. but the expectations, we showed this on the betting markets yesterday, nobody thought this was actually going to happen. how did it happen? >> in my opinion there's a latent distrust of the european union on that side of the atlantic and in the united kingdom in particular. not everyone who's skeptical of the eu i think admits it to opinion polls. and in addition, people have got accustomed to the benefits of the european union, but that doesn't seem to be something that really translates to a fondness for the institution itself. >> i don't know if we can put this graphic back up on the screen. we had it a minute ago. the map that showed the
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breakdown within the uk. i thought this was so interesting. i'm not sure if we can get it back up. there it is. okay. this reminds me of something we see here in the united states. look at england and look at london within england. we talk about the blue states and red states all the time. the coasts, the densely populated coasts, new york city, san francisco, los angeles, boston, those are the blue areas on the map. when you look on the map in this country, most of what's in between is red. you're sort of seeing the same dynamic here. >> you are, absolutely. one of the interesting things about this referendum is look at the vote in northern england. traditionally the comparison would be ohio, pennsylvania, places that were industrial are struggling, would have been working class pro dedominantly. those places, a lot of them went toward leave and i think that is an interesting point of comparison as far as here. >> when we talk about the parallels between what donald trump is tapping into here and
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the campaign over there, the issue of immigration comes to the fore. this is an ad in the final week or so, the final days of this campaign. this is the leave side. they put this out very controversial what you have here. these are the migrants in europe. i think this is in slovenia but the movement of migrants from the middle east into europe has been such a huge story and the leave side capitalizing on this. some people saying that's xenophobia. how did immigration factor into this? >> i think it was a very big issue. i think that poster was a very controversial one, but it may have been one of these things that was controversial but effective. and certainly it wasn't a purely xenophobic argument, at least in an explicit way. there were also a lot of appeals made about how the british national health service, for example, could deal with a continuing influx of immigrants. very controversial issue, but one that the leave side seems to have availed of. >> let me just ask you, you grew
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up part of the united kingdom. do you look at this result, what we're seeing right now, and think that the united kingdom as we've known it is still going to be around 10, 20 years from now? >> the answer is no. for the scots in particular, they had an independence referendum that failed. but they have voted 62% toward staying in the eu. just on a basic democratic level it's very difficult to argue to them that they should in effect be kicked out of the eu because they have been outvoted to their english brethren to the south. >> the idea of scottish independence now comes back. >> definitely very much on the table. i think we're already seeing some scottish nationalist leaders talking about that. >> great day to have you here. thanks for coming in. >> thanks. and again, the markets closing just minutes ago here on wall street. about ten minutes ago the closing bell down more than 600 points today. absorbing that news from britain. the uk meanwhile with near
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record turnout in yesterday's referendum. imagine if we had similar turnout in this country. it's the number of of the day. plus he says he'll vote for clinton in november. he admitted it doesn't look like he's going to be the nominee, so what is bernie sanders waiting for? he has another rally tonight. when is he actually going to drop out of the race? also that devastation in west virginia. 14 people now dead from that flooding, homes completely swept away. we'll head to one of the hardest-hit areas right after this. hmmmmmm..... hmmmmm... [ "dreams" by beck ] hmmmmm... the turbocharged dream machine. the volkswagen golf gti. named one of car and driver's 10best, 10 years in a row. ♪
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>> i've been finding parts of it as i've been searching down the road. actually some of it's right there, but i haven't been able to fine the upstairs portion of it yet. >> you haven't found the roof of your home? >> hmm-mm, not at all. it's gone. >> more on that breaking news we've been telling you about out of west virginia. we just learned from that state's governor that the death toll there now stands at 14. this is in the wake of those powerful and devastating storms and floods that have been sweeping through the state, washing away homes, cutting power to hundreds of thousands of residents. this dramatic video showing a home on fire in west sulphur springs that's being pushed by floodwaters down a creek. a house on fire in a creek. look at that scene. more than 40 counties mostly in the southern part of west virginia now in a state of emergency. joining me from west sulphur springs, nbc's morgan radford
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who was talking with that resident who couldn't find his house. morgan, these pictures are just stunning. >> reporter: they're absolutely stunning. you can see that the rain has picked up here yet again. that rain causing some of the damage behind me. if i step away, you can see where the entire side of this road has become completely engulfed by this water, water that's still moving very quickly today and water that we also know is responsible for the deaths of 14 people. among them an 8-year-old boy and 4-year-old toddler. we also know that hundreds of thousands of people right here in this area are still without power today, without any electricity, some without food and certainly without running water. take a listen to a mother and daughter i found just a mile up the road. >> it was tragic. i just watched three houses going down the river, just floating right down and then crash. and i don't know if anybody was in them. >> and we were walking and i'm like make sure we have to keep our ears open just in case you hear somebody, because everybody
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doesn't know what everybody is. not everyone is accounted for. >> reporter: steve, we also know that upwards of 500 people are trapped inside of a shopping mall just outside of the state capitol of charleston. there's only one bridge that leads to that shopping mall and that bridge could simply collapse under these heavy rains and swift-moving floodwaters. right now the national guard has been called in and they brought not one, but two separate bridges. the first one appears to have been too short and it does not look like their rescue effort will be successful until tomorrow. in the meantime, steve, there are upwaerrds of 17 shelters established and this will help some of the displaced residents get some of the food, water and electricity they need, steve. >> morgan radford in west virginia. thanks for that. we'll continue to follow this breaking news story throughout the hour. now turning back to u.s. presidential politics, bernie sanders back in the news. he still says he is not droing out of the race. he remains an active candidate.
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but asked about who he'd vote for if it's hillary clinton or donald trump in the general election, he's very clear on his answer. let's take a listen. >> are you going to vote for hillary clinton in november? >> yes. yeah, i think the issue right here is i'm going to do everything i can to defeat donald trump. >> senator, if you've accepted the arithmetic of the race and you realize that she's likely to become the nominee, why not withdraw from the race? >> why would i want to do that, when i want to fight to make sure that we have the best platform that we possibly can. >> and kasie hunt is washington has more on this. kasie, we use that term soft lun launch. i know democrats were very nervous that sanders would fight this thing all the way to the convention. it looks like he's going to the convention, but not much of a fight here. >> it's a little bit of a tortured end here, steve. the way that bernie sanders has approached this, i think, there are a lot of democrats who kind
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of watched how his campaign has ended and they're starting to scratch their heads a little bit and wonder just what is it that he's after. a lot of them believe that hillary clinton has really tried to reach out a hand to bernie sanders, meeting privately with him. we know those negotiations have been ongoing. there are some questions now about whether they might have hit a roadblock or two. take a listen to how bernie sanders discussed it earlier today. >> let me just tell you where we are and what i want to do. right now to be very frank with you, we are talking to the clinton campaign to try to determine whether or not they can come up with some very serious proposals which will help us transform america. whether it will happen or not remains a good question, i don't know. we are working with them right now. >> he's raising questions about whether or not they can actually
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get to a place where he's going to feel comfortable moving forward with this, which feels to me like a little bit of a backslide and i think there's some frustration behind the scenes on the part of the clinton campaign as to how this is going to move forward. of course we also know that there are people who have submitted protest applications for the democratic national convention. many of those people are bernie sanders' supporters. if he's still in this race, there's some questions about how that might play out. in the meantime, steve, there are some signs emerging that maybe with the stabilization of the trump campaign, or the beginnings potentially of the stabilization there, that democrats are increasingly worried about pennsylvania. now, this could be a feint or just a way to make sure that they shore up what's going on there, but priorities usa announcing late on this friday afternoon just as the markets were closing on this brexit day that they're going to put $10.5 million worth of ads up on the
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air in pennsylvania on clinton's behalf. so republicans obviously have talked a lot about a state over the years or at least in recent presidential electoral history saying we might be able to put it in play. it's never actually happened. but this is the first concrete sign we have that democrats might feel as though they need to make sure donald trump isn't able to put that in play. maybe he's going to be in a better position than others. whether sanders continuing to stay in this race is affecting that, it's unclear, but it's certainly a factor that doesn't help hillary clinton. steve. >> that's really interesting because we've seen these national polls that show hillary clinton in the last couple of weeks opening up a pretty significant lead over donald trump. but at the same time there was that poll in pennsylvania this week that showed it still deadlocked there. even with clinton having a good stretch nationally, trouble for her in pennsylvania. >> you know, steve, also there was a hard focus group that talked to a bunch of -- that nbc sat in on that talked to a bunch of blue collar voters in
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pennsylvania. one of the things that we saw from that is that his supporters there are sticking with him. that the rough period that trump has gone through the last couple of weeks hasn't really sunk in with them. they were right there with donald trump, you know, making those arguments that we saw in the primary. so i came away from watching the clips of that focus group thinking, okay, we're still not quite in the phase where these general election voters are really engaged and trump really does still have an opportunity here. >> kasie hunt in washington, thanks for that. after the break, u.s. marshals now part of the search for an escaped prisoner in mississippi. the sheriff there warning inmates to think about two things, escaping and hurting people. an 81 date on the manhunt is next. donald trump in scotland today. he's talking brexit, his golf course and light houses. we'll head overseas for a rundown on how that trip is going. >> we've taken the lighthouse, which is a very, very important building in florida -- i mean in
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i did not see that coming. don't deal with disruptions. get better internet installed on your schedule. comcast business. built for business. welcome back. here are the headlines at the half hour right now. the death toll in west virginia, it has now risen to 14 following those dangerous storms and severe flooding that have overtaken much of that state. the governor saying that the image is widespread. search and rescue efforts remain a top priority. he's calling those floods among the worst in a century in that state. president obama who made it clear he opposed the uk's exit from the european union is seeking to reinforce the united states' relationship with the uk at an event at stanford this afternoon. >> yesterday's vote speaks to the ongoing changes and challenges that are raised by globalization. but while the uk's relationship with the eu will change, one
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thing that will not change is the special relationship that exists between our two nations. that will endure. the eu will remain one of our indispensable partners. >> the markets here in the u.s. not reacting kindly to those brexit results so far. the dow closing down more than 600 points. that's the worst day of trading in five years, since 2011. a manhunt continues for malcolm landfare, an inmate who escaped from jail in raymond, mississippi. another inmate who escaped with him is back in custody after he was captured late yesterday afternoon. they escaped through a hole in the wall which police believe they made with melts objects they got ahold of. fire officials now confirm two fatalities in the out of control erskine wildfire burning in southern california just north of los angeles. fast-moving fire has already destroyed 100 structures,
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scorched almost 20,000 acres. about 2,000 people have been evacuated as hundreds of firefighters try to protect 1500 homes. officials are calling the fire extremely dangerous and extremely volatile. nbc's gadi schwartz is in lake isabela, california, with more. gadi, what is the latest? >> reporter: well, the situation out here keeps getting more and more dangerous. every time the wind picks up, which is what we've seen recently in the last hour or so, you tart to see fire literally everywhere. you've got fire right here. this home right here, it burned last night and hot spots are popping up throughout this area. just to give you a scope of what we're looking at, this is just one part of a neighborhood that has homes destroyed on both sides of the street. we're talking about probably about 50 or 60 homes in this particular neighborhood that have been decimated. they have been burned to the ground. and then a lot of people in this area we've been told are elderly
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people. so those fatalities that we've been reporting, they kind of go hand in hand with what we've been hearing about this particular neighborhood. people saying that they were worried about some of their elderly parents or elderly neighbors, saying some of them may have been bed ridden or had mobility issues. some of them may have been taking a nap when the wind whipped up and brought that firestorm over the hill. these firestorms have been moving incredibly fast, especially with this kind of wind. we've seen firefighters trying to concentrate their efforts laying down retardant lines with some of the air tankers but it's very difficult to fly in some of these conditions. right now those firefighters streaming in here from all across california are mostly protecting structures. they are focusing their efforts on saving as many homes as they can. in this neighborhood there are probably more homes that have been lost than there are homes that are still standing, but people are trying to protect what is still left. steve. to the presidential race
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now, donald trump taking a victory lap in scotland today in the wake of brintain's vote to looeft european union. trump says the vote is the growing frustration with immigration and trade that he has been vowing to address here in the u.s. >> i think it does show something about the people wanting their country back, and i can tell you in the united states, the people want their country back. in the united states, people want smart decisions, not dumb decisions. and we've been given dumb decisions for many years, and the people are tired of it. and i have a feeling the same thing has happened over here. >> that's donald trump over in scotland. also in scotland along for that trip, nbc's katy tur covering the trump campaign. katy, what can you tell us? >> reporter: hey there, steve. donald trump and his campaign hoping to capitalize on this wave of anti-immigration, anti-globalization sentiment that has taken over the uk and resulted in the decision to leave the european union.
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donald trump praising that decision, saying that british voters were taking their country back, much in the same way he's encouraging american voters to take their country back. america first being one of his maybe platforms. a lot of reaction across the world to this, including back in the u.s., as vice president joe biden made a veiled reference to donald trump's campaign strategy. >> we see in my home country where some politicians find it convenient to scapegoat immigrants instead of welcome them, to play to our fears, to play to our fears, rather than as abraham lincoln said, appeal to our better angels. divide us based on religion or ethnicity, rather than unite us on our common humanity. build walls instead of bridges. it has been unamerican what we have been seeing. >> reporter: it's ironic that donald trump was praising brexit
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here in scotland today. scotland being one of the few places that voted overwhelmingly to stay in the eu. now there's talk of another scottish referendum. scotland would leave the uk and stay in the eu. there's talk about that. also on the subject of prime minister david cameron, donald trump said that he was a great guy who just misread the mood of his country. steve. >> all right. katy tur reporting from turnberry, scotland. thanks for that. donald trump playing up his connection to brexit on twitter this morning. this is what he's been tweeting out. america is proud to stand shoulder to shoulder with a free and independent uk. we stand together as friends, as allies and as a people with a shared history. vanity fair london editor harry porter has been following the trumpification of british politics. this is something a lot of people are talking about, they are looking at this result and looking at the demographics
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behind it, the campaign behind it and they are saying what just happened in britain could be a preview of what could happen in the united states this november. what are the tleparallels you s? >> i think the parallels are very, very clear. i mean for a start, you have the same group of people in britain who were dissatisfied with the political establishment as the -- and the same people in america who are fed up with d.c. and fed up with the traditional political parties. also, i think, a crucial part of this is they're very, very resistant to listening to reason and listening to what are being condemned here as experts, such as economic experts who were telling the british people that to leave the eu would be disastrous. and by the way, that does look already to be true. so there is a very close parallel. i mean a lot of it comes from a fear of immigration. our leaders here, and i have to say it is true what donald trump
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was saying, our leaders here did not pay attention to what the people grumbling about. they thought they could simply ride over them. so to that degree donald trump is right. there is a parallel. there's also some sense of static, some sense of empow empowerment in a group of people who were previously voiceless. i think there are a lot of similarities. >> and we talked about this earlier. when i looked at that map and i saw london, the vote in london being strongly against leaving the eu and then it's surrounded outside of london strongly for leaving, i mean i see that same sort of disconnect here in the united states between urban areas where you've got a lot of people with college degrees, advance degrees, higher income, the so-called elites of the cities versus the rest of the country. >> that's absolutely right. there are also other divisions in this country, which are slightly harder for foreigners to see, but one of them is, of
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course, between the old and young. the young people tended to vote for europe and the old people wanted to get away from it. i think the -- i think the influence of the vast numbers of people traveling through the balkans last year frightened people and then following in november and december the attacks in paris and belgium. so those things have frightened people and energized the population. i think also there are different -- you know, in britain, east of england particularly tended to go for leaving the eu and that's because large numbers of particularly polish workers have settled there and are competing for housing and jobs. so it's a different varied story all over the country and quite difficult to analyze. >> henry porter with "vanity fair." this is a story we'll be talking about for months. it's not just the fallout economically from brexit but what it means politically around the world. henry, thanks for taking a few minutes. >> thank you.
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still to come, our most important number of the day. what u.s. voters could learn from british voting habits. >> our shared values, including our commitment to democracy and pluralism and opportunity for all people in a globalized world. that will continue to unite all of us. men. 80% try to eat healthy, yet up to 90% fall short in getting key nutrients from food alone. let's do more. add one a day men's gummies. complete with key nutrients plus b vitamins to help convert food into fuel.
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♪ everything your family touches sticks with them. make sure the germs they bring home don't stick around. use clorox disinfecting products. because no one kills germs better than clorox. in the end this question is about the people. it's about the right of the people of this country to settle their own destiny. it's about the very principles of our democracy. >> it's a great day for the british people. >> i was in tears this morning when i woke up. >> some reaction from britain. the former mayor of london, he was one of the leaders of the leave the eu campaign. some of the voters there who voted for it as well, the aftermath of this brexit vote. but you know what, whatever side you were on, whichever answer you thought was right to this question, there is something about what played out in britain yesterday that maybe would be
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inspiring. is that the right word? well, it's our most important number of the day. let me show you what it is over here at the big board. the number is 72.2. what's inspiring about 72.2? well, here was a really important issue. this was the future of britain at stake, 72.2% is the voter turnout. nearly three out of every four voters in britain actually showed up and cast a ballot, or some of them can do it by mail over there. they filled out the mail-in built. nearly three out of four people voted. this was a really engaged election. this was i think the second highest turnout from a national election or national referendum in british history. compare that to what we have in the united states. 2012, a lot of people were interested in the 2012 campaign but significantly lower turnout. we've had lower numbers than that before. how about the primaries this year. we picked hillary clinton, we picked donald trump. those are the two choices of the two parties to be nominees. less than 30% is the turnout, the combined total turnout for
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each party in its primaries and caucuses this year. so you see we have much lower turnout in this country. why is that? all sorts of possible reaches for it. let's put one out there. the calendar. this is the last three months. the eu referendum campaign in britain, it kicked off in the middle of april. april 15th. that was the official start date. both sides started campaigning. you had all the ads. you had the rallies, you had the signs and it ended just over two months later. basically a six-week campaign you're looking at on june 23rd, yesterday. now, what does this calendar look like for a presidential campaign here in the united states. this is the current campaign. look at this. you go back to the middle of november 2014. that was the first announcement from the first candidate in the 2016 presidential race. you go all the way through 2015. you had the announcements, you had candidates drop out, you had debates. you get into 2016. you had iowa, new hampshire, super tuesday, super tuesday
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part two, part three, part four, part five. we still have months to go. up got to get to november 8th to get to the finish line. the campaign here, maybe it exhausts people when it's that long. maybe the short campaign that gets people focused in bringt is good for turnout. our longer one, maybe that turns people off. they got 72% turnout in britain yesterday. that is an impressive number, no matter what you think of the outcome. so what does the brexit vote actually mean for you? how instability in those international financial markets could impact things here at home. that's up next.
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all right. with the united kingdom voting in favor of brexit, of leaving the european union, world markets reacted today, and they went wild. here in the u.s., the dow opened down 500 points in just the first few minutes. it bounced back and forth all day, but when it was all over less than an hour ago when that final bell rang, the total for the day down more than 600 points. the dow today, and it's not just the trading desks who care. federal reserve chair janet yellen warning that a british exit from the eu could have serious consequences for our own economic outlook in this country. joining me to explain what those consequences could be, cnbc contributor ron insana. first, look, there's all sorts of dire warnings. obviously not good news from wall street today. from a negative standpoint, to the average american looking at
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this and saying i don't want the economy to get any worse, in what ways could it get worse because of this? >> well, you mentioned janet yellen, steve, and she said that this type of thing, if indeed it leads to a eurean and a british recession, that could cross the atlantic and the contagion risk from an overseas recession could slow our economy down materially which is already running at a relatively slow pace anyway and could ultimately lead to another recession so the federal reserve is very unlikely to raise interest rates again this year after not having done so thus far in 2016. so i think the real concern at the fed is that this type of thing is destabilizing enough to tip us into recession. >> so those are the risks. from the standpoint of this actually being a positive for the united states, what areas could this actually work out for the u.s.? >> well, for a home buyer right now, interest rates, because there was a flight to quality into u.s. treasury bonds, u.s. investors took money out of stocks and shoved that money
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into u.s. treasuries. that means that interest rates have come down. mortgage rates are now near all-time lows. if you're a home buyer, that's a benefit to you. oil prices fell today so gasoline in the middle of summer driving season may come down in price again. and from an investment perspective, the u.s., clearly even though we were down 3% or 4% looks better than the rest of the world. italy and spain was down 10% and 12% respectively. the u.s. means we're likely to rebound more quickly, although next week and maybe several weeks coming can still be difficult. >> let me actually take a step back with you and ask more of a basic bigger picture question. so much of this is reactions, reactions to reactions, but the thing that started this all, this vote by the people of britain to get out of the eu, why is that such a -- why would the market in the first place treat that as a bad thing? >> well, you're tearing up an economic treaty that's been building for the last 70 years. and so now investors and
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business people don't know how they're going to perform, how they're going to run their businesses in an environment where the benefits of membership, if you will, no longer accrue to uk companies operating in europe. so that destabilizes the business environment. it creates questions as to whether there will be knock-on effects. you talked earlier about donald trump and the people who follow him feeling some of the same dislocations that people in the uk feel. the risk of recession goes up. the real worry is there might be a possible breakup of the european union. the dutch vote on a referendum to pull out, the spanish do so, the portugese do so, french and italians do so. there are ultimate rightist movements going on around europe that suggest similar votes could come in the future. if europe were to do that, that is the ultimate fear about why this could go off the rails. >> so it's the old domino theory. >> yes. >> it's the possibility that
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it's the first of many to fall. ron insana, thanks for the time. appreciate it. >> thanks, steve. still to come, how people in the uk are reacting today to the brexit vote. >> let june the 23rd go down in our history as our independence day! >> that was the leader of the movement to get britain out of the eu. some very emotional responses from both sides. they're trending on social media around the world. we'll check in on them right after this. ? we're good. ? okay... what if a million people download the new app? we're good. five million? good. we scale on demand. hybrid infrastructure, boom. ok. what if 30 million people download the app? we're not good. we're total heroes. scale on demand with the number one company in cloud infrastructure.
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celebrating their big victory. others taking out their frustrations on public figures. look at this video. boris johnson, the former mayor of london, one of the leaders of the movement to get out of the eu, leaving his residence. this is earlier today, surrounded by, you can hear it here, just listen to this for a second. those are his former constituents in london. london was very much, if you look at the vote, london very much against leaving, boris johnson for it. there's boris johnson being heckled as he made his way to his car earlier. boris johnson one of the names being mentioned for the replacement of david cameron. his side lost. joining me now, cal perry. you've been monitoring the social media reaction. we had you on yesterday and we were looking at the betting markets. the betting markets showed nobody actually expected that this would happen.
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that voters would decide to leave. it sounds like the voters themselves in some cases are surprised. >> definitely. when we talk about twitter, let's keep in mind, twitter is the thing that reflects who you wish you were friends with. facebook is a reflection of who you are friends with. twitter, trending now across the uk, #what have we done. i've picked five tweets that will get us to some of the issues about the vote. jess writes i didn't vote for this. 48% of the country didn't vote for this. the other 52% were deceived by empty promises. i don't need to tell you, steve, 52%, that's enough. that will carry that one. the second one from hannah. thanks so much to the older generation. when you look at those numbers, you can see the older generation really helping to carry that vote. that's an interesting split because we have that split here in the united states. we'll be looking at that in the upcoming u.s. election. the next one from luke, i felt a star drop this morning. the european flag with a star
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removed. james writes not a victory for democracy. reason peace and unity have lost again. a lot of sour grapes about immigration. immigration a huge issue so we're seeing a lot of those same words, ignorance, hate, fear and intolerance. this is another image that seems to be making its way online. this is the european flag as an umbrella. all of the countries under the umbrella except for the united sing dom left out in the rain. call it sour grapes, call it bregret. a lot of people starting to ask the question, as the stock market falls and immigration is brought up as an issue, really what is the result of this going to be in the long term. >> and those parallels between what happened there and how the political campaign has been going here. that older/younger voter phenomenon is not just a split right now when you look trump versus clinton, i'm thinking back to the democratic primaries. there was that big split with
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sanders and clinton and you saw a lot of that back and forth. >> that's it. shades of the u.s. election. >> cal perry, thanks for that. appreciate it. that's going to do it for this hour. i'm steve kornacki. "mtp daily" starts right now. good evening. i'm chuck todd here in washington, and welcome to a friday edition of "mtp daily." wow, what a day. we're following the enormous shock waves from britain's historic vote to leave the european union. global markets are plummeting. the dow closed down more than 600 points. the british prime minister is resigning. politicians in france, denmark, sweden, the netherlands and a few other places are calling for their own referendums on eu membership and everyone is trying to figure out what it all means for theur