The London stock exchange up, every share index up, the pound up against the dollar. Where is the fire and brimstone?
The Rebel.
Brexit...
by The Rebel 31 Replies latest jw friends
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bohm
No official reports promised "fire and brimstone", but merely a (downwards) correction followed by a retardation of investments. Regarding the pound, yes, it has gone up all day by about 1%... it's just that it kinda dropped 10% before that lol.
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The Rebel
The Rebel replies to Bohm. " what crashes today sores tomorrow lol"
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bohm
Well, certainly nothing can go wrong then.
Go #Brexit!
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Simon
You are seeing the slight correction after the markets typically over-react, it's just finding it's new level.
That new level is around the lowest for 30 years so I think the predictions were probably correct. We also don't yet know the long term effect as companies take or avoid investment decisions due to uncertainty, lack of access to EU market etc...
One thing for sure, the promises by the Leave campaign have been swiftly removed and backtracked on.
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The Rebel
Simon " We also don't know don't yet know the long term effect as companies take or avoid investment decisions due to the uncertainty, lack of access to EU market ect..."
The Rebel. ( A) But we do know business people always put business interest ahead of a nations sovereignty and Richard Branson is showing his true " tax exile" colors now. Money and profit should never replace democracy, accept the decision Richard Branson.
Otherwise it's like saying we should have a vote to replay the game against island yesterday?
The Rebel.
p.s England the only country to leave the Euros twise in a week.
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Gargamel
As others have said, markets normally overeact at first, then find some balance at a new level. There will be more downward shocks yet though, and the worst of these ought be in the UK as the old alliances unravel. The pending tax rises will put pressure on inflation as workers clamour for pay rises to compensate the higher rates. Spending cuts will hurt the most vulnerable, because Tory bastards are good at that. Although they are edging downwards at the moment, at some point interest rates will start climbing in order to shore up the £ and attract investment - the rate rises may also be needed to curb any inflationary trend caused by the QE (money printing) and workers forcing pay rises. It does look pretty bleak for the next few years. Remember, the UK economy is more vulnerable because of the higher level of mortgage payers (renting is less popular here than in many countries), so even a small shift upwards has people examining where they can cut their spending. Furthermore, many small businesses are part-funded by people borrowing on property equity. If property values start decreasing, as looks a fair bet, there will be less finance available for business start-ups and expansions. Then, the banks have taken a big hit recently. They will probably want to recoup that by imposing harsher lending criteria and in many cases, not lend at all.
The outlook appears bleaker than they're letting on. After a decade, the nation will generally be a bit poorer materially. Hopefully, some old values will re-surface rather than all the me me me legacy from the Thatcher years.
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smiddy
The vote to leave is only just that at the moment ...a vote nothing more.
PM Cameron hasn`t resigned yet , it`s still in the future whether he does or not remains to be seen.
So what`s all the hallabaloo about ?
What if the vote to leave is not acted upon ?
What if PM Cameron decides not to quit ?
Both are viable options.
just my2 cents worth
smiddy
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Gargamel
What if PM Cameron decides not to quit ?
Well he better make that decision pretty quickly. The election for the new leader has been called, and the deadline for contestants to declare is tomorrow (Thursday 30/6). So far, he hasn't entered the race - and won't, I'm sure.
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Gargamel
Harold Wilson once said, "A week is a long time in politics." Ha ha. He wasn't kidding.
