Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Support MFO
Donate through PayPal
Brexit 2.0 : Carnage in world markets on Friday Early returns suggest "Leave" may prevail
Wales and England voted to LEAVE the EU, and so the UK is leaving. The LEAVE votes grabbed the majority, though Northern Ireland and Scotland voted to REMAIN. SkyNews is reporting that Sinn Fein is already in the works, preparing to raise a new referendum re: whether Northern Ireland wants to re-join the Republic of Ireland. Curiouser and curiouser. Fasten your seatbelts, it's going to be a bumpy night!
Curiouser and curiouser. Note the demographics - Scotland and London to stay. Everywhere else to go. Old to go and young to stay. College educated to stay and those not to go. I was thinking about buying some more XOM on the dip, but it's not much of a dip -1.4%.
I think Bob C. had it right though - in 5 years, this this won't be nearly as significant as everyone is making it out today.
Jonathan Clements has a list of 51 financial “don’ts” that is irregularly updated as necessary. MFO has referenced it earlier, but it does warrant a repeat acknowledgment. Here is the Link once again:
Based on today’s British decision relative to exiting the EU, I would suggest two additions to that fine list, one temporary and one more permanent in character.
Don’t react rashly to the current EU turmoil. It will iron itself out in a rather short timeframe. In terms of my portfolio, I will do nothing.
On a more permanent time scale, don’t relinquish government rule-making to a foreign entity. The British took a long time to learn that expensive lesson. There is good purpose to controlling borders and decision making as local as feasible. The US has always patrolled its borders and has applied sometimes brutal rules that were relevant and necessary at their application time.
One set of my grandparents were initially rejected at their New York entry port because of health issues. Fortunately, they persevered and succeeded after taking care of the problem. Lucky me! Borders matter and must be respected.
Im Glad The Brits Have Spoken - And I Think They Got It Right!!!!!
I think it is too late for The Brits to reverse the effect of the EU. It will take time for the full exit to occur. In the mean time they will get flooded with people that want to get into Britain before the change.
Based on today’s British decision relative to exiting the EU, I would suggest two additions to that fine list, one temporary and one more permanent in character.
Don’t react rashly to the current EU turmoil. It will iron itself out in a rather short timeframe. In terms of my portfolio, I will do nothing.
On a more permanent time scale, don’t relinquish government rule-making to a foreign entity. The British took a long time to learn that expensive lesson. There is good purpose to controlling borders and decision making as local as feasible. The US has always patrolled its borders and has applied sometimes brutal rules that were relevant and necessary at their application time.
I agree. I think this is a buying opportunity but, not in Europe. I don't think Europe has a good future. England's future will be better. That is the place to invest. I think England will create a good business environment and companies will move from the continent to England.
>> Old to go and young to stay. College-educated to stay and those not to go. [rono]
>> a meme by the stay side - it was to say if you are old and stupid you will vote to leave.
meme or not, actual polling data before and after the vote show exactly what rono wrote
>> I think England will create a good business environment and companies will move from the continent to England.
Have you read anyone with experience saying such a thing? Global trade econs there and here predict the opposite, pretty much, in my reading. Many dozens of articles, including several analyzing immediate serious negative effects on poor beleaguered towns that overwhelmingly voted to leave, have appeared. Lots of fascinating reading online. 'Little England' etc. If there is business relocation it will be tremendous but a major surprise.
davidrmoran....what you described is what I had been hearing as well, at least until the trade negotiations are completed, which could be several years.
British business will not be in an expansive mood and will this will stunt whatever momentum had existed. GB went from the leader in the EU to a near term afterthought, with recessionary pressures looming.
Comments
Brexit, Spexit, Grexit ...
Curiouser and curiouser. Note the demographics - Scotland and London to stay. Everywhere else to go. Old to go and young to stay. College educated to stay and those not to go. I was thinking about buying some more XOM on the dip, but it's not much of a dip -1.4%.
I think Bob C. had it right though - in 5 years, this this won't be nearly as significant as everyone is making it out today.
and so it goes,
peace,
rono
Jonathan Clements has a list of 51 financial “don’ts” that is irregularly updated as necessary. MFO has referenced it earlier, but it does warrant a repeat acknowledgment. Here is the Link once again:
http://www.jonathanclements.com/
It’s both fun and informative. Please visit it.
Based on today’s British decision relative to exiting the EU, I would suggest two additions to that fine list, one temporary and one more permanent in character.
Don’t react rashly to the current EU turmoil. It will iron itself out in a rather short timeframe. In terms of my portfolio, I will do nothing.
On a more permanent time scale, don’t relinquish government rule-making to a foreign entity. The British took a long time to learn that expensive lesson. There is good purpose to controlling borders and decision making as local as feasible. The US has always patrolled its borders and has applied sometimes brutal rules that were relevant and necessary at their application time.
One set of my grandparents were initially rejected at their New York entry port because of health issues. Fortunately, they persevered and succeeded after taking care of the problem. Lucky me! Borders matter and must be respected.
Best Regards.
England's future will be better. That is the place to invest. I think England will create a good business environment and companies will move from the continent to England.
>> a meme by the stay side - it was to say if you are old and stupid you will vote to leave.
meme or not, actual polling data before and after the vote show exactly what rono wrote
>> I think England will create a good business environment and companies will move from the continent to England.
Have you read anyone with experience saying such a thing? Global trade econs there and here predict the opposite, pretty much, in my reading.
Many dozens of articles, including several analyzing immediate serious negative effects on poor beleaguered towns that overwhelmingly voted to leave, have appeared. Lots of fascinating reading online. 'Little England' etc. If there is business relocation it will be tremendous but a major surprise.
Good for tourist dollars, of course.
British business will not be in an expansive mood and will this will stunt whatever momentum had existed. GB went from the leader in the EU to a near term afterthought, with recessionary pressures looming.
And the sad part is, it was self-inflicted.
Sure, totally self-inflicted.
http://www.newyorker.com/humor/borowitz-report/british-lose-right-to-claim-that-americans-are-dumber