Brexit Result?

[Andalublue]

Just reported that Cameron resigns and UK stocks lose $300 billion in less than an hour.

 

[Excon]

For those cheering the brexit vote, how is this not a complete **** show? And I'd really like it if I didn't get bumper sticker answers like "Freeeedom!!!" I'd like to know what...specifically...those who support the vote won, exactly.

So you discount Freedom over fascist rule?

 

[Excon]

Just reported that Cameron resigns and UK stocks lose $300 billion in less than an hour.

Buy, buy , buy!

They will be going back up.

 

[joG]

Well from the source that was provided to me, unbelievably by a leaver, says that migrants are less likely to need assistance than UK citizens. Also, who do you think pays into those programs to help keep them running? Migrants, they pay taxes in the UK, they help fund those programs that native born Britons benefit more from.

Oh, I know quite well how the cycles of economies function and how such a broad cohort as "immigrants" breaks down in very different groups. But that is not, what I spoke of. That was the experience of the low class Brits, when the wages were squeezed and the number of unemployed rose, them among them. Fewer would have become unemployed, the competition for the few job around would have been less vicious and the media told them that reductions in this and that benefit were cut, because so many immigrants were in the system.
Now, I am not saying this is inefficient at the macro level. But efficiency is often not on the mind of those reacting on populism.

 

[Surrealistik]

Made money going long on the USD vs the Eurozone currencies (GBP, EUR, CHF) as Brexit pulled ahead by ~400k votes.

That said, I'm not going to lie, in light of the five alarm **** show the currency market was at the time, with moves that would normally take weeks to months to play out happening in under a minute, it was by far the most stomach churning thing I've done this year, if not in the past five; if my nerves were more ironclad, or I were simply reckless, I might have made an absolute killing in the span of hours, but fear (pragmatism?) won out in the end.

 

[joG]

Buy, buy , buy!

They will be going back up.

You don't think the island will be crushed by petty bureaucratic continental wrath and swallowed by the seas to feed the EU catch?

 

[haymarket]

The lesson here is that people want an economic and political system that works for them. When enough people feel otherwise, we get results like this and Trump and Sanders in the states.

The solution is to reform the economy and our politics so that they work for average people and not financiers and wheelers and dealers playing with the components of a global economy like a teen ager playing a video game.

 

[joG]

Just reported that Cameron resigns and UK stocks lose $300 billion in less than an hour.

He did a really bad job of selling the EU. That was one of the things that I found unbelievable generally. Nobody explained why the EU, the largest and most far-reaching program the European elite has undertaken since 1945 was worth its costs and risks and fabulous harm it had done populations across Europe in its recurring crisis that seem intended. Why, they weren't even able to make the numbers stick. Cameron deserves losing his job in shame.

 

[Chagos]

Not confused. Plenty of countries trade in the EU just fine. Not sure why Britain would have to be different.

It wouldn't (won't). It'll just have to trade outside of the benefits of club membership. That's all.

 

[Manc Skipper]

Oh, I know quite well how the cycles of economies function and how such a broad cohort as "immigrants" breaks down in very different groups. But that is not, what I spoke of. That was the experience of the low class Brits, when the wages were squeezed and the number of unemployed rose, them among them. Fewer would have become unemployed, the competition for the few job around would have been less vicious and the media told them that reductions in this and that benefit were cut, because so many immigrants were in the system.
Now, I am not saying this is inefficient at the macro level. But efficiency is often not on the mind of those reacting on populism.

That experience was a direct result of dogma driven government economics not immigration. Austerity good and hard has been the only treatment for all our ills, but the blame was put on migrants.

 

[joG]

That experience was a direct result of dogma driven government economics not immigration. Austerity good and hard has been the only treatment for all our ills, but the blame was put on migrants.

Again, the Immigrants did nothing wrong. But that does not mean that the effect was pleasant for the lower class.

 

[Chagos]

For those cheering the brexit vote, how is this not a complete **** show? And I'd really like it if I didn't get bumper sticker answers like "Freeeedom!!!" I'd like to know what...specifically...those who support the vote won, exactly.

Well, as far as gaining freedom is concerned, it can't have been the freedom to make bad decisions.

Seeing how by all counts that existed already.

But the people have spoken (well, let's say around 38pct of those eligible to vote) for Brexit and that's that.

Intriguing new move on divorce proceedings, though. "I'm filing but it won't be for another 3 months cuz it'll take me that long to move out. Even then it's gonna be somebody else you'll have to haggle with."

It'll be interesting to watch whether the wife will show sufficient patience.

 

[Harry Guerrilla]

The lesson here is that people want an economic and political system that works for them. When enough people feel otherwise, we get results like this and Trump and Sanders in the states.

The solution is to reform the economy and our politics so that they work for average people and not financiers and wheelers and dealers playing with the components of a global economy like a teen ager playing a video game.

We are agreeing too often lately.
Something is wrong with one of us. :2razz:

What you said is true though and for a while the concerns of the blue collar folks and middle class have been hand waved, for the benefit of the upper middle and upper classes.

 

[Manc Skipper]

Again, the Immigrants did nothing wrong. But that does not mean that the effect was pleasant for the lower class.

For six years, the population has been under attack from the 1%. Support and care for the poor, the unemployed, the disabled, the sick have been sacrificed in the name of "Austerity", while migrants have been painted as a freeloading drag on the economy. (while stealing British jobs) I honestly thought we were better than this.
Here's a letter from the FT which summarises where we are.

 

[joG]

For six years, the population has been under attack from the 1%. Support and care for the poor, the unemployed, the disabled, the sick have been sacrificed in the name of "Austerity", while migrants have been painted as a freeloading drag on the economy. (while stealing British jobs) I honestly thought we were better than this.
Here's a letter from the FT which summarises where we are.

Nobody was "under attack" by the 1 percent. The goods they had on offer were just too expensive and capital was therefore attached to other labor.

 

[joG]

What do you think the result of the EU Membership Referendum will be tomorrow? Personally, I see that the polling' pretty tight, with Leave just slightly ahead, but often the undecideds break for the status quo so I'm thinking Remain wins by a hair.

As an afterthought: This might be an interesting article to read. https://www.foreignaffairs.com/arti...1&spJobID=943438796&spReportId=OTQzNDM4Nzk2S0

 

[Andalublue]

Here's what's being said over here:

David Cameron pasará a la historia como el político irresponsable que puso en juego el interés general de Gran Bretaña y de Europa para resolver un problema personal y de partido.

(David Cameron will pass into history as the irresponsible politician who played games with the general interests of the UK and Europe in order to deal with his personal and party problems.)

 

[haymarket]

We are agreeing too often lately.
Something is wrong with one of us. :2razz:

Its probably me and old age.

What you said is true though and for a while the concerns of the blue collar folks and middle class have been hand waved, for the benefit of the upper middle and upper classes.

And in nations with democratically based governmental systems - that is very dangerous to do for a long period of time.

 

[Aberration]

That experience was a direct result of dogma driven government economics not immigration. Austerity good and hard has been the only treatment for all our ills, but the blame was put on migrants.

All I know is in the semiconductor industry, for the operators and maintenance, wages went from about what I make ~$25/hr to about $15/hr or less. And just about everyone was replaced by E Europeans. And there wasnt a Brit among them not complaining about the flood of people.

For those E Europeans, like Hispanics immigrants here, living 5 to an apartment on that lower wage was still FAR better than what they came from.




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