Without going into full-faggot detail, I've got a hunch that the Brexit situation may not shake the markets bad now, but it will create a situation of uncertainty with the EU that leads to wider questions of the strength of Europe.

For one, you've got the UK, a real leader of Europe exiting. What will that do to perception of other stronger nations (economically) in the region? Will they continue wanting to contribute to the welfare state of those surrounding them like Spain or Italy? I know Sweden already has its own problems, and currently wants to stay, but how long until nations like Denmark and France decide they want out (increasing pressures on the rest to let Merkel and Germany tend to the migrant issue themselves)? This uncertainty is creating a real problem for Europe as they're already struggling with their banking sector, below 0% rates, and marginal growth.

This, along with the current election cycle are setting us up for a situation like we've never seen. Globalism has run its course, exploiting cheap labor, and now we're starting to see the slowdowns caused by stagnant job growth. The economy may not show a "recession" in the traditional terms, but it's on a trajectory of continued mediocrity until we get some serious stimulus or jobs program to increase labor participation and actually sell shit.

Millennials don't want to buy shit or can't afford to buy shit. How do we make them buy more shit? That's the real question.