Thoughts on "Brexit"

[goj]

What are everyone's thoughts? Stock market is getting hammered in the US again today.

Sorry if a thread like this has been posted here, iPhone search doesn't work.

[BMW F22]

Good time to buy stocks (or wait for them to drop even more and then buy). Also, I suspect Euro will drop even more making it cheaper to visit europe.

[Joekerr]

I'm interested to see what happens. On one hand, I like the fact that they are taking a bit of a politically incorrect stance (immigration and all that), so kudos to them, but on the other hand, was it the right move financially? What will happen to the businesses that moved to the UK to have access to the EU and chose UK because it was English speaking. Will they move to another EU country causing loss of jobs?

I don't know, I'm impressed in a way that they did it, I just don't know if its going to be a painless experience.

[insanecoder]

Looks it was a good move.. yea there will be pain but theyll be stronger in the end whether they were cognizant of it or not..
I mean look @ the EU parliamentary dictator's latest quote:

Schulz: "The British have violated the rules. It is not the #EU philosophy that the crowd can decide its fate". #TBC

Oh yea and some dumbasps want to stay..

[fecurtis]

Originally Posted by insanecoder

Looks it was a good move.. yea there will be pain but theyll be stronger in the end whether they were cognizant of it or not..
I mean look @ the EU parliamentary dictator's latest quote:

Schulz: "The British have violated the rules. It is not the #EU philosophy that the crowd can decide its fate". #TBC

Oh yea and some dumbasps want to stay..

Ah yeah it was on Twitter so it must be true!

[insanecoder]

You wanna live in a country where the clown politicians arent even elected by the people? Move to Europe..

[Flying Ace]

Exit camp: A thinly veiled anti-immigration campaign filled with misinformation.

The entire set of misinformation is just ironic:

The regions that voted to leave are going to the be most hurt by an exit, as they are heavy manufacturing and exports focused industries.

The regions that tend to be domestic services and banking industries tend to vote to stay and will be the least effected by the exit.

Ultimately, this means the export industry will be hurt in the short term, the banking industry will become LESS competitive and have barriers to entry from EU FIs, but most effected with the UK banks doing business in EU, and some retail services industry will have costs increases, and either will shut down or have to increase their prices substantially. For example, the hotel industry will lose up to 3/4 of their service employees....think about the pricing impact from this.

Frankly, there is a turning back for UK. But they have to put pressure on their new government.

[Flying Ace]

Originally Posted by insanecoder

Looks it was a good move.. yea there will be pain but theyll be stronger in the end whether they were cognizant of it or not..
I mean look @ the EU parliamentary dictator's latest quote:

Schulz: "The British have violated the rules. It is not the #EU philosophy that the crowd can decide its fate". #TBC

Oh yea and some dumbasps want to stay..

please elaborate why it's a good move...

[Flying Ace]

Originally Posted by BMW F22

Good time to buy stocks (or wait for them to drop even more and then buy). Also, I suspect Euro will drop even more making it cheaper to visit europe.

there are talks this may be more than just brexit. Events like this will create systemic pressures on algorithmic trading, which may have other pressures on related trading.

I wouldn't just focus on the issue at hand, this is why the smart money are complete risk off right now, they're waiting to see if the other shoe will drop.

Personally, I am waiting this one out. I haven't sold, but my excess cash is just sitting on the sideline.

Of course, there are others who said by mid-July, after all the central bank moves, there may be more clarity on the effects of the vote, but making a move between now and when the global central banks makes a move is a huge gamble. We can be seeing a liquidity event on the scale of Lehman's....

[goj]

My opinion is that, this was bad in the short term and now the UK has a lot to do for it to gain traction in the Long term.

Unfortunately people didn't seem to understand or consider the negative aspects of voting to leave. I hope it turns out well, for the world economy's sake.

[John 070]

Originally Posted by BMW F22

Good time to buy stocks (or wait for them to drop even more and then buy). Also, I suspect Euro will drop even more making it cheaper to visit europe.

I loaded up on C and JPM today. Was it the right move? If I knew the answer, I wouldn't be typing on the forum. But heck they're the same companies today, as they were on Thursday. JPM goes ex-dividend on Fri.

[MightyMouseTech]

It is going to be a shit show for a while. Any thoughts on Scotland and Northern Ireland leaking the UK and staying with the EU?

[Flying Ace]

Originally Posted by John 070

I loaded up on C and JPM today. Was it the right move? If I knew the answer, I wouldn't be typing on the forum. But heck they're the same companies today, as they were on Thursday. JPM goes ex-dividend on Fri.

you're not even going to wait for the dividend approval stress test results? That's a bold move. C is the "strongest" of all the systemically important banks in terms of stress test results.

[fecurtis]

Originally Posted by Flying Ace

please elaborate why it's a good move...

He used Twitter has a reputable source, the only other place I could find that quote is Infowars so even if he did give you an answer...I doubt it'd be a coherent or intelligent one.

[Flying Ace]

Originally Posted by MightyMouseTech

It is going to be a shit show for a while. Any thoughts on Scotland and Northern Ireland leaking the UK and staying with the EU?

apparently, that aspect is going to get very complicated. Scotland voted to stay and this may move them towards a breakup.

There were also news on intra-party power struggles as well. Similar to the UK parties, in each party there are camps on both sides of this issue as well.

All this is a shit show indeed.

[Flying Ace]

Originally Posted by fecurtis

He used Twitter has a reputable source, the only other place I could find that quote is Infowars so even if he did give you an answer...I doubt it'd be a coherent or intelligent one.

haha, I was more asking of his general reason why he thought it was a good move. I don't care about all the twitter junk...

To date, I still haven't read a reasonable, economical, quantifiable rationale why an exit benefits UK on the whole.

[jpdchicago]

Great time to buy stocks right now. No changes in fundamentals and a lot cheaper now...
Brexit "leave" voters are pretty moronic IMO but if I can make money of their stupid decision I will.

[MightyMouseTech]

Originally Posted by Flying Ace

To date, I still haven't read a reasonable, economical, quantifiable rationale why an exit benefits UK on the whole.

Now people in the UK can not blame immigrants for all their problems.

[M_Six]

We're heading to the UK for a conference/vacation in Sept, so the dropping pound will benefit us if it stays low. Although the savings there will be dwarfed by the losses in our retirement accounts, I bet.

It seems to me that the rest of the EU is secretly glad to see the UK leaving. Like a boorish celebrity guest that no one dared ask to leave, but now that he's half out the door, they're closing it quickly behind him. Like a lot of messy divorces, this could hit both sides hard financially, but they may both be better off in the end. I see the UK as the husband in this one, though. And hence may end up paying for this for a long time.

[ASAP]

If you understand the basic principles / ideas upon which the Union was built, you would understand why it won't be a lasting entity... The UK, did what it had to do for its own country... it will hurt, but in the end it will help... Switzerland is doing mighty fine on its own, as are all of the countries that didn't accept the Euro.

[Flying Ace]

Originally Posted by ASAP

If you understand the basic principles / ideas upon which the Union was built, you would understand why it won't be a lasting entity... The UK, did what it had to do for its own country... it will hurt, but in the end it will help... Switzerland is doing mighty fine on its own, as are all of the countries that didn't accept the Euro.

you know that Swiss analogy is so flawed....
The swiss economy is services based and less diverse, and heavily weighted towards that.

You cannot compare the Swiss experience to the UK experience. Here is just simple tangible exported/imported goods and doesn't even included the services industry.

1. UK Import
2. Swiss Export
3. UK export
4. Swiss Import

[ASAP]

I am speaking of the entire EU as a whole not just GB... I am not sure how anyone could think that the assimilation of 30 different countries with different languages, banking systems, transportation systems, roads, cultures and economic status would be a good idea? At its core, perhaps an OK idea... in reality, an awful idea that has caused both massive emigration, immigration problems, currency issues, cost of living issues... unequal access to markets and favoritism of the wealthier nations. The moment a country accepts the Euro, everything gets more expensive, earnings for most individuals do not go up... simply because one cannot compare the economic prowess of a nation like Germany to say perhaps Poland that cannot as easily accept all of these demanded / required changes. I think the UK and its people got tired of this...