Quote:The big vested interests will make the EU talk with the state of the markets. The EU is dying before our eyes.
Can't see Juncker lasting too long.
You keep thinking that, but it's the EU with the leverage here, not the UK.
Quote:You keep thinking that, but it's the EU with the leverage here, not the UK.
Agreed. But the key is that the situation is fluid. The longer the uk stays firm, the leverage will begin to swing toward more countries opting out. However, if the uk begins to waffle, the eu can persuade the shaky countries into staying.
Quote:Agreed. But the key is that the situation is fluid. The longer the uk stays firm, the leverage will begin to swing toward more countries opting out. However, if the uk begins to waffle, the eu can persuade the shaky countries into staying.
The UK doesn't have time stay firm though. Once they invoke article 50 they have two years to negotiate their exit, extension of the two year term requires unanimous consent from all other EU members (which they won't get of course). After that, if they don't have a deal in place they're screwed. They won't just be out of the EU, they'll be out of the common market, out of the common travel area, out of the customs union and any other European treaty.
Quote:You keep thinking that, but it's the EU with the leverage here, not the UK.
The EU thinks it has the leverage but Merkel will walk all over that, she is after all the real boss of Europe. Germany will have a deep recession if punishing the UK. The car industry is already pushing.
Lets not forget we got the next Greek debt crisis likely to pop up next month...
I lost $8k as a result of Fridays 500 drop in the Dow. Luckily I have conservative investments. I'm anticipating another $4k loss tomorrow from Monday's drop.
Quote:I lost $8k as a result of Fridays 500 drop in the Dow. Luckily I have conservative investments. I'm anticipating another $4k loss tomorrow from Monday's drop.
I've been buying since brexit hopefully the sell off now stops :thumbsup:
Quote:I've been buying since brexit hopefully the sell off now stops :thumbsup:
Yep, if I was cash richer I would be buying like crazy right now. A pointless sell-off caused by a media frenzy with no change in fundamentals of the companies being effected? This is the perfect time to buy.
Right now, I think the EU will shove Britain out the door and slam it behind them, to discourage other states from opting out. They will want to make it as painful as possible for the UK, to make an example out of them.
Reason being, to avoid a massive bank run. For example, if the people of Italy think they are about to opt out, they will want to get their Euros out of the bank before they get forcibly converted to Lira.
Then, as that is going on, I think in the next Parliamentary election, the big issue will be "do we follow the referendum or not." I think the "remain" forces will win the election, claim a mandate to stay in the EU, and then there will be massive chaos as the Brexit supporters will feel betrayed.
Politicians being pretty slick, the anti-Brexit forces will push the EU for reforms, they will get half a loaf, and then they will proclaim victory and the U.K. will remain in the EU.
Quote:Looks like the plans for an EU "superstate" are real. EU wants full military and economic control.
<a class="bbc_url" href='http://www.dailymail.co.uk/news/article-3662827/Has-Britain-avoided-European-superstate-France-Germany-draw-plans-morph-EU-countries-one-control-members-armies-economies.html'>http://www.dailymail.co.uk/news/article-3662827/Has-Britain-avoided-European-superstate-France-Germany-draw-plans-morph-EU-countries-one-control-members-armies-economies.html</a>
That article directly cites the Express article you linked earlier and no other outside sources. And I've still found nothing on any other news sites.
Only thing I could find was reference for a vision for Europe and no concrete plans at all. And certainly no official proposals. So Ponce again the UK newspapers are fear mongering and massively exaggerating what is actually being discussed.
Looks like Britain is getting higher taxes and less services as a result of the Brexit vote. I found this bit the most important:
<p style="font-size:18px;color:rgb(0,0,0);font-family:CNN, Arial, sans-serif;">"And on Monday, Standard & Poor's and Fitch Ratings both downgraded the U.K.'s credit rating. The weaker credit rating could make it harder and more expensive for the U.K. to borrow money and finance its debts.
<p style="font-size:18px;color:rgb(0,0,0);font-family:CNN, Arial, sans-serif;">The U.K. has the second highest budget deficit in the G7 after Japan, and the highest current account deficit -- that means it has to borrow more from the rest of the world to fund its imports than any other major advanced economy."
http://money.cnn.com/2016/06/28/news/eco...index.html
Quote:I've been buying since brexit hopefully the sell off now stops :thumbsup:
Yep just started looking at the pound -- down to 1.33 to $1 USD. I went there ~ 6 years ago and it was 2.12 to $1usd
It took GW Bush 6 years to do what the Brexit supporters did in a day. :woot:
Quote:The EU is a bureaucratic and inefficient monster that wastes billions each year. It's also one of the greatest achievements in co-operation and civilization, bringing an unprecedented period of peace, prosperity and stability in the European continent. The UK leaving the EU will the EU, but not nearly as much as it will harm the UK. In fact, it might be enough for Scotland to vote to leave the UK.
Posted on June 18 --> Good call !!
Competitive devaluation isn't the worst thing in the world.
With all respect, this wasn't a move made for the benefit of the first 96 hours the markets were open. This is about the long-term sovereignty and prosperity of a nation. Traders throw hussy fits, it happens.
So let's recap the immediate consequences of Vote Leave:
Tory party: Cameron will resign, leadership uncertain of both party and country.
Labour party: Corbyn just lost vote of confidence by significant margin, majority of Shadow cabinet resigned, leadership of party uncertain.
Scotland: Preparing second referendum on indepedence, will likely pass and leave UK.
Northern Ireland: Support for leaving UK rising, might join Ireland afterwards. Will not go down well with unionists.
London: Mayor demanding more autonomy in order to protect financial sector.
UK as a whole: Future uncertain, may lose access to common market as well as trade deals with non EU countries. Country utterly divided between Leave and Remain voters.
With all respect, this wasn't a move made for the benefit of the first 96 hours the markets were open. This is about the long-term sovereignty and prosperity of a nation. Traders throw hussy fits, it happens.
With all respect, this wasn't a move made for the benefit of the first 96 hours the markets were open. This is about the long-term sovereignty and prosperity of a nation. Traders throw hussy fits, it happens.