Brexit...Or, What, Me Worry? (1 Viewer)

gopherblue

gopherblue

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Fuggedaboudit!
Well, the Trump voters have spoken. Britain makes a disastrous, short-sighted decision.

World economy plunged into chaos over anti-immigrant, racist xenophobia and populist lack of critical-thinking skills.

Where is that giant meteor? Let's just get this over with.
 
When our economy crashes and the UK descends into civil war, I'm not sure who's gonna take us in as refugees when we flee the Isles?

Anyway, here's a kitten in a sock instead

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I'm worried about it. Very sorry to hear about this Toby. Time will tell but IMO it was a big financial mistake for Great Britain.
 
62% of Scots voted to remain. They can't seem to get anything right!
 
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What worries me is not so much the exit itself but that the majority of the politicians involved will have an incentive to make it as bad as possible.

For the EU politicians, they have a freeroll, they get credit for anything that goes well, and can blame the UK for anything that doesn't, so why not punish the UK as much as they can to warn off any other independence movements?

For the pro-EU politics in the UK, it is the same math, except they can blame both the EU and the Conservative politicians for any problems. So why not look to squeeze an electoral advantage out of this?

The pro independence politicians are the only ones who suffer if it fails and benefit if it succeeds and they don't have any friends right now.
 
I was woken this morning by my daughter (who had stayed up all night for the results, the weirdo), saying the UK had decided to leave.

I still can't quite believe it, and I'm not sure how things will pan out. Everything suddenlh seems very surreal. To be honest, I don't think anyone truly expected this. The ramifications on Europe, and the countries who now say they also want to leave, remain to be seen.

Good luck everyone.
 
Best news I've heard in quite a few years!

Congratulations to our fellow British for opting for democratic self-determination rather than being governed by unelected EU bureaucrats without an ounce of accountability for their 'politburo' policies...

I hope that points to a direction in which we'll see true democracy back to the whole Europe...

Stay strong!!!
 
We could be looking at the end the British Commonwealth coming soon. I predict Scotland is gone before 2018 (I already see public demands for a revote on Scotish independence due to the Brexit vote). Could see other 500 year-old portions of nation peal off too, depending on how bad the economic carnage is. I see strong financial incentives for separation as the more prosperous areas leave behind the remainder.

The nation is at risk of being slapped around hard. A lot depends on how complete the separation is. Leaving the trading block is not a given, but staying in the trading block means keeping open borders, so I suspect the matter could come to that too.

This could be the start of the worst economic contraction in Britain since WWII. Looks like the market's snap judgement is a 5% loss in value trading today. Britain was the fifth largest economy in the world yesterday. We shall see what happens, but I am betting that isn't true when the dust settles. FTSE might bottom out after a 40% to 80% loss in value.

The Pound is at a 30 year low. That makes tourism more attractive. My wife and I talked about a visit to Cornwall and London this morning. Maybe go in the Spring of 2017. I want to wait to see if unrest is a problem. I think it will not be any more dangerous than a visit to somewhere in the USA, but that too is yet to be proven.

I put this solidly in the category of "be careful what you wish for". The downside is a lot harsher than the upside. -=- DrStrange
 
DrStrange said:
We could be looking at the end the British Commonwealth coming soon. I predict Scotland is gone before 2018 (I already see public demands for a revote on Scotish independence due to the Brexit vote). Could see other 500 year-old portions of nation peal off too, depending on how bad the economic carnage is. I see strong financial incentives for separation as the more prosperous areas leave behind the remainder.

The nation is at risk of being slapped around hard. A lot depends on how complete the separation is. Leaving the trading block is not a given, but staying in the trading block means keeping open borders, so I suspect the matter could come to that too.

This could be the start of the worst economic contraction in Britain since WWII. Looks like the market's snap judgement is a 5% loss in value trading today. Britain was the fifth largest economy in the world yesterday. We shall see what happens, but I am betting that isn't true when the dust settles. FTSE might bottom out after a 40% to 80% loss in value.

The Pound is at a 30 year low. That makes tourism more attractive. My wife and I talked about a visit to Cornwall and London this morning. Maybe go in the Spring of 2017. I want to wait to see if unrest is a problem. I think it will not be any more dangerous than a visit to somewhere in the USA, but that too is yet to be proven.

I put this solidly in the category of "be careful what you wish for". The downside is a lot harsher than the upside. -=- DrStrange
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Could be time to capitalize on the weak pound. Keep an eye out, you might want to visit Cornwall sooner!
 
Can't come any sooner. That will be a long expensive trip even with the cheaper Pound. Plus there is every chance the Brexit vote is the opening gun for the 2016/2018 recession - none of us is immune from that.
 
I now see news reports about Northern Ireland interest in separating from England and reunifying with the rest of Ireland as a way to stay in the EU.
 
I don't pretend to have the first clue what any of this means but I'll definitely be watching. On the selfish short term plus side today is the last pay check of the quarter which means my 401k contributions are about double the usual amount so the market can dump all it wants.
 
ChaosRock said:
Congratulations to our fellow British for opting for democratic self-determination rather than being governed by unelected EU bureaucrats without an ounce of accountability for their 'politburo' policies...
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Support/citation for this UKIP talking point? I'm not even sure how this patently untrue "fact" jumped the pond, other than that it "just feels like it is true" and is total catnip for the far right and Fox News.
 
gopherblue said:
Support/citation for this UKIP talking point? I'm not even sure how this patently untrue "fact" jumped the pond, other than that it "just feels like it is true" and is total catnip for the far right and Fox News.
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I'm very, very, surprise this is not self evident to you Goph... I have a lot of respect for you and I'll certainly not start a debate here... Both sides of the argument are splattered all over the media... And btw, Fox had almost ZERO coverage of the Brexit btw...

How are the thousands of EU officials elected? Popular vote? Nope... Any recourse to the British, or to anyone actually, if they want to change that leadership? Nope, since they are not elected... In summary, EU is an anti-democratic idea from the onset... Not a surprise to me everything they have done has turned to absolute crap...
 
ChaosRock said:
I'm very, very, surprise this is not self evident to you Goph... I have a lot of respect for you and I'll certainly not start a debate here... Both sides of the argument are splattered all over the media... And btw, Fox had almost ZERO coverage of the Brexit btw...

How are the thousands of EU officials elected? Popular vote? Nope... Any recourse to the British, or to anyone actually, if they want to change that leadership? Nope, since they are not elected... In summary, EU is an anti-democratic idea from the onset... Not a surprise to me everything they have done has turned to absolute crap...
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EU Parliament seats are apportioned to each country and elected by direct general elections in each of the member states (remind you of any country you may know?). The head of each member state's government is either directly elected by that state or the leader of the majority party in that state. Those heads of state appoint representatives to certain other EU governing bodies (other than the parliament). So, yes, the governing bodies of the EU are either directly or indirectly elected by the population at large in the various member states. As far as the various bureaucrats within the executive branch of the EU? Most are simply civil servants JUST LIKE here in the US, or for leadership roles, appointees. Also just like here in the US.

Apologies for my tone in the prior post, but the notion you brought up is a UK far right talking point. While there is plenty to criticize about the EU and how the government is elected/run, leaving the EU is just about as nonsensical as cutting off one's foot because one has a headache.

My wife is British, so I've been following this quite closely.
 
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The most important thing is, UK chippers buying from the US/anywhere else have now got an even more fucked up deal than before - and even that was pretty fucked up.
 
gopherblue said:
The only glass-half-full part? My whisky just got a whole lot cheaper.
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The half-empty part? After BREXIT, you're going to be drinking a lot more of it, so it won't last as long.

It's going to be an interesting ride. My mother was Welsh, so half my relatives are in Wales and England. Plus we're booked already for the month of October over there...
 
DJ Mack said:
I don't pretend to have the first clue what any of this means but I'll definitely be watching. On the selfish short term plus side today is the last pay check of the quarter which means my 401k contributions are about double the usual amount so the market can dump all it wants.
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While true, it might be a good buying day, the bigger assets already invested are estimated to lose 2-3% today, If you have $200,000 in your 401(k), you probably will lose $4-$6k today, which easily could have been a nice custom chip set for the retirement years.

I have a hard time understanding why a sovereign country wants to give up control of itself, so the whole EU confuses me. Getting some states to do it 200+ years ago to form the US was different since we were all colonies before and had not been around for 500+ years.

I do not know more than drive-by news of the pros and cons, so I am not going to comment on why it was good or bad, and I really think like most things, it will be better than the doomsayers think on both sides. My comment is I would vote for liberty whenever possible as I want to be the ruler of me, and not a serf to any.

I am seriously considering buying British Pounds today since they are at a 30 year low. Wonder if George Soros shorted the Pound?

BiGGyT
 
BiGGyT said:
While true, it might be a good buying day, the bigger assets already invested are estimated to lose 2-3% today, If you have $200,000 in your 401(k), you probably will lose $4-$6k today, which easily could have been a nice custom chip set for the retirement years.
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And if I were retiring in the next 25 years I might be concerned. However, due to the expected volatility of this particular issue I did take the unusual precaution of moving most of my holdings into the stable value fund about two weeks ago. Due to wash sale rules I can't get back in to the market exposed funds for a few more weeks
 
pltrgyst said:
The half-empty part? After BREXIT, you're going to be drinking a lot more of it, so it won't last as long.

It's going to be an interesting ride. My mother was Welsh, so half my relatives are in Wales and England. Plus we're booked already for the month of October over there...
Click to expand...

I knew you had good qualities.
 
As a true Anglophile, I celebrated the marriage of William and Catherine by waking up early, watching it unfold and eating an English Breakfast. When Prince George was born, I once again flew the Union Jack in front of my home and ate a traditional English Breakfast (it was nice of them to time the birth with my breakfast). And of course I celebrated with breakfast once again when Scotland voted to remain a part of the UK.

Perhaps I just like to celebrate breakfast.

But last nights results were disturbing. They're ending a 43 year success story. Paulo is right about unelected officials, but I truly feel that people - nations - are stronger for inclusion, not exclusion. Donald Trump was in the UK for 2 bloody days, and you're already building a wall?

No breakfast for me today, and the Union Jack remains in a window rather than on the flagpole (although I am still wearing one of my UK t-shirts).
 

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