HaydnH Posted June 27, 2016 Posted June 27, 2016 ...not many people thought "economy" when voted leave. Pretty sure I did above before the vote. 1
Adrian@TORQEN Posted June 27, 2016 Posted June 27, 2016 I have no doubts in you, Haydn, nor in any other person on this forum. You've seen the examples everyone posted here with people not having a clue what's to follow.
coldel Posted June 27, 2016 Author Posted June 27, 2016 Its a good point, I think most Stays voted with an economic hat on and those voting Leave voted with a political hat on. When I asked a Leave person why he voted out he ran off a well rehearsed line about wanting to vote against Feudalism in the EU. When asked what it was about this that impacted him so badly that he felt that putting so much at risk was worth it he couldn't really go that one level deeper. Clearly he felt vexed by it, which he has every right to, and in some cases I do you step back and go 'what on earth are they doing that for' but he seemed unwilling to engage with the risks that came with it.
NeilMH Posted June 27, 2016 Posted June 27, 2016 Coming back to the markets, the question I am struggling to answer is - for the foreseeable future why would I invest (other than gold or swiss francs or similar). To my mind, apart from very short term buying/speculating, that downward pressure from reluctant buyers makes the market vulnerable to external shocks (or ill-advised statements). I am genuinely interested to know if anyone has a different view and why?
Randy_Baton Posted June 27, 2016 Posted June 27, 2016 (edited) Now Boris has come out and said he always intended us to stay in the single market, which in turn means we will still have to adopt the EU's immigration policy, but as we are not in the EU we won't have a say on said policy. We'll just have to follow it. He probably should have said this before Brexit... I don't see any political party not wanting be in the single market, so don't see immigration will change in anyway post brexit. Lets not forget 70% of MP's would have voted remain and they get to decide how Brexit is actually applied. I wish I could stop thinking about this, but I just feel so sorry for the country. Totally duped! Edited June 27, 2016 by Randy_Baton 2
Banz Posted June 27, 2016 Posted June 27, 2016 I just found out that my mom voted leave. Because she believes the immigrants from EU is the major cause of unemployment and crime. That most immigrants are living on benefits and draining our health care. All the money that they earned are being brought back into their own country rather than staying in UK. She says that within 6 months the economy would recover and we would do far much better without the EU. She believes UK is still a major power in Europe and that investors would still keep investing into UK. The EU needs us more than we need them. 1
WINKJ Posted June 27, 2016 Posted June 27, 2016 I just found out that my mom voted leave. Because she believes the immigrants from EU is the major cause of unemployment and crime. That most immigrants are living on benefits and draining our health care. All the money that they earned are being brought back into their own country rather than staying in UK. She says that within 6 months the economy would recover and we would do far much better without the EU. She believes UK is still a major power in Europe and that investors would still keep investing into UK. The EU needs us more than we need them. put on your flame suit brother. get one for your mom too - i'll do what I can to help!
JetSet Posted June 27, 2016 Posted June 27, 2016 I wish I could stop thinking about this, but I just feel so sorry for the country. Totally duped! Same here, keep hoping its a bad dream. Pete
WINKJ Posted June 27, 2016 Posted June 27, 2016 I wish I could stop thinking about this, but I just feel so sorry for the country. Totally duped! Same here, keep hoping its a bad dream. Pete in your opinion...
TomBorehamUK Posted June 27, 2016 Posted June 27, 2016 I just found out that my mom voted leave. Because she believes the immigrants from EU is the major cause of unemployment and crime. That most immigrants are living on benefits and draining our health care. All the money that they earned are being brought back into their own country rather than staying in UK. She says that within 6 months the economy would recover and we would do far much better without the EU. She believes UK is still a major power in Europe and that investors would still keep investing into UK. The EU needs us more than we need them. Your mum is entitled to an opinion, It's just wrong.
RS8055 Posted June 27, 2016 Posted June 27, 2016 (edited) I wish I could stop thinking about this, but I just feel so sorry for the country. Totally duped! Same here, keep hoping its a bad dream. Pete in your opinion... Yes, and some people just want to watch the world burn... Edited June 27, 2016 by RS8055
WINKJ Posted June 27, 2016 Posted June 27, 2016 (edited) I wish I could stop thinking about this, but I just feel so sorry for the country. Totally duped! Same here, keep hoping its a bad dream. Pete in your opinion... Yes, and some people just want to watch the world burn... and others just want to find world peace. neither of which is going to happen Edited June 27, 2016 by WINKJ
coldel Posted June 27, 2016 Author Posted June 27, 2016 "Politicians with personal career advancement agendas in broken promises shocker" Who would have thought it...
HaydnH Posted June 27, 2016 Posted June 27, 2016 Interestingly, if you look at GBP vs EUR the pound is quite strong in comparison, not as strong as it's been for the last year or so but stronger than the 5 years leading up to that (end of 2008-mid 2014), so the cost of our imports from the EU will actually be cheaper than they were for most of the last 6 years based on FX rates fluctuations.
coldel Posted June 27, 2016 Author Posted June 27, 2016 But it has to as they are ultimately pegged to each other - compare it to the dollar or the yen for example where no such tie exists and its around 15% down on average and could well fall further. 1
HaydnH Posted June 27, 2016 Posted June 27, 2016 But it has to as they are ultimately pegged to each other - compare it to the dollar or the yen for example where no such tie exists and its around 15% down on average and could well fall further. Actually we're still better off now against JPY than we were between 2009 - 2012, I don't remember paying more than the usual Nissan extortion prices for parts back then.
coldel Posted June 27, 2016 Author Posted June 27, 2016 Its again a good point, although a quick google shows some intervention was going on in terms of meeting certain targets so it was deliberately deflated (even though the Japanese markets at the time were booming)
HaydnH Posted June 27, 2016 Posted June 27, 2016 We import about 60+%, 10%, 7%, 1.6% of our imports from Europe, USA, China & Japan respectively. My point is that all the nay sayers on Facebook (or Adrian on here ) who are saying it's going to cost us our monthly wages for a Kenyan coffee imported from Germany are quite frankly wrong at the minute (there could be more FX rate changes on the way). 60+% approx of our imports which are from the EU will be cheaper than they were for 5 of the last 6 years. By the way I purposely used Kenyan coffee as an example. Currently Kenya aren't allowed to sell processed coffee to the EU, while the EU is happy to take their unprocessed beans the German coffee processing business has to be protected. So post Brexit maybe we'll actually get cheaper processed coffee direct from Kenya? 1
coldel Posted June 27, 2016 Author Posted June 27, 2016 So does that mean our EU market is much more important than it ever was?
HaydnH Posted June 27, 2016 Posted June 27, 2016 So does that mean our EU market is much more important than it ever was? We import more from the EU than the rest of the world, so having mostly cheaper imports due to the GBPEUR FX rate is a good thing. Monsieur Champagne will still sell me his doodaa for EUR6, but it will cost me £5 instead of £5.5. We export more to the rest of the world than we do from the EU, so having cheaper prices due to the GBPUSD/JPY/CHN FX rates means we're more competitive, I'll still sell my doodaa for £5, but to captain America it will cost him $6.5 rather than $8... also a good thing.
coldel Posted June 27, 2016 Author Posted June 27, 2016 So it was a good idea to vote yourself out the EU and risk that market? In any case, I am now sat here with the live feed on sky news and the Labour party, what an utter farce! This graphic just shows how little faith his own cabinet had in him http://news.sky.com/story/1718067/corbyn-clings-on-defiantly-as-mps-jump-ship
Ekona Posted June 27, 2016 Posted June 27, 2016 I can't believe Corbyn is ignorant enough not to step down and call a leadership contest. Half your own MPs don't trust you, surely that gives you a hint you're not right for the job? He's a terrible failed left wing experiment. He's almost single-handedly killing the Labour party, which after Brown and Ed M is some achievement. 2
coldel Posted June 27, 2016 Author Posted June 27, 2016 More than half mate, at least 4/5ths...the joke is the party will just vote him back in after the ballot tomorrow. Absurd. 1
Ekona Posted June 27, 2016 Posted June 27, 2016 And they wonder why no-one voted for them last year... 1
coldel Posted June 27, 2016 Author Posted June 27, 2016 The only voices to have come out and supported him are union leaders...back to the good old days of the staunch socialist lefties...how out of touch do Labour want their party to be?
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