So what did the Brexit supporters gain?

[chiang mai]

FTSE 250, 23 June, 17.3k - today, 16.3K. So that's a gain in a Brexiteers book of economics is it!

You should go into politics - you are adept at comparing apples and oranges!!

I said the FTSE (both indices) were up on the day. Fact.

You come back with am irrelevant, unconnected statement. Labour front bench for you I think.

Let me try again to see if you can grasp the message:-

In the last month (a reasonable spread before and after the vote):-

FTSE 100 UP 747 points

FTSE 250 UP 519 points.

Or is that down in the eyes of Remainiacs ?

And with such a comment you dare say that the other poster would make a good politician

To determine if the stock market is up or down you use the figure right before the referendum and the figure today and look at the difference.

Recovering from a heavy loss is not a gain, it's a dead cat bounce.

Wrong again

The period immediately before the vote was inflated by the artificial boost from people believing the bookies odds of 1/4 on for a remain vote. I took a 30 balanced 30 day period spanning the vote.

The FTSE indices are shooting up again today - the 'Brexit balanced' cabinet announced by May seems to have received a resounding vote of approval from investors.

Oh wait! Chiang Mai will have us believe that it is only on the back foreign money placing all the buy orders !

To be honest I'm not sure what's really being debated here and whether or not it's minutiae or diversion but the numbers are a matter of record. It is an undeniable fact that on 23 June this year the FTSE 250 reached 17,333 and on 27 June it fell to 14,967. What followed immediately after the fall was that foreign buyers entered the market on the back of Sterling weakness, what happened thereafter is anyone's guess. But what is also unquestionable is that the level of the FTSE250 is still at or below the level it was at in April this year, the graphs can be had here: https://uk.finance.yahoo.com/echarts?s=%5EFTMC

[GuestHouse]

So what did the Brexit supporters gain?

Brexit supporters came predominantly from socio-economic classes C1, C2, D and E, plus pensioners.

The latter group have their state incomes protected by the tripple lock and are therefore protected from inflation that may or may not occur.

Groups C1, C2, D and E are unlikely to have any significant savings tied up in the stock market, if any. (Keep in mind the average UK pension pot immediately prior to retirement is £53K)

Therefore the only tangible change so far is the shift further to the policsl right of an already right wing government.

Right wing governments do not have a history of being very considerate of the needs of socio-economic class groups C1, C2, D and E.

So pensioners who supported Brexit have gained little and the majority of the rest of Brexit supporters have handed power to ...... The 'elite'

Well done.

[MissAndry]

So pensioners who supported Brexit have gained little and the majority of the rest of Brexit supporters have handed power to ...... The 'elite'

Well done.

They already had all the power, but we didn't like the ones we could see, and now they've been changed.

Maybe the replacements will be a little more careful, and a little less obvious.

[GuestHouse]

So pensioners who supported Brexit have gained little and the majority of the rest of Brexit supporters have handed power to ...... The 'elite'

Well done.

They already had all the power, but we didn't like the ones we could see, and now they've been changed.

Maybe the replacements will be a little more careful, and a little less obvious.

A little more cunning.

[chiang mai]

Just to add: it looks as though the FTSE is climbing on the back of an expectation that the MPC will cut the base rate by a quarter point, that being the case the value of the Pound will loose value which makes USD related equities a good investment.

[MissAndry]

Just to add: it looks as though the FTSE is climbing on the back of an expectation that the MPC will cut the base rate by a quarter point, that being the case the value of the Pound will loose value which makes USD related equities a good investment.

Put all your money in it then.

[DUS]

Just to add: it looks as though the FTSE is climbing on the back of an expectation that the MPC will cut the base rate by a quarter point, that being the case the value of the Pound will loose value which makes USD related equities a good investment.

That´s already priced since a potential rate cut has been discussed since "Independence Day". If you are a betting man better bet on a rising pound if there is NO rate cut.

[chiang mai]

Just to add: it looks as though the FTSE is climbing on the back of an expectation that the MPC will cut the base rate by a quarter point, that being the case the value of the Pound will loose value which makes USD related equities a good investment.

Put all your money in it then.

My money stays as is in USD and THB thanks very much, sadly can't do much about the GBP income though.

[chiang mai]

Just to add: it looks as though the FTSE is climbing on the back of an expectation that the MPC will cut the base rate by a quarter point, that being the case the value of the Pound will loose value which makes USD related equities a good investment.

That´s already priced since a potential rate cut has been discussed since "Independence Day". If you are a betting man better bet on a rising pound if there is NO rate cut.

I don't believe that for one moment, currency forex prices in such things, equities far far less so, let's see.

[stag4]

Sandyf,

FYI.

The referendum was not advisory, it was made clear by Cameron that it was a one off in or out vote. Teresa May says Brexit means Brexit, the democratic vote needs to be acted upon.

We are out no if's or buts about it, the people have spoken.

Misrepresentations, What about the biased BBC commentary and their continued Project Fear! however the people have spoken and the new Cabinet have a clear mandate to get the UK out of the EUSSR.

Petition all you like but as Nigel says, Britain will not be the last country to leave, the EU is finished.

[Ricardo]

Just to add: it looks as though the FTSE is climbing on the back of an expectation that the MPC will cut the base rate by a quarter point, that being the case the value of the Pound will loose value which makes USD related equities a good investment.

That´s already priced since a potential rate cut has been discussed since "Independence Day". If you are a betting man better bet on a rising pound if there is NO rate cut.

The announcement is , no immediate cut, and the pound is immediately off 1.4 cents against the US$ ... that's the trouble with forecasts ! Mai pen rai !

http://www.bbc.com/news/business-36794521

[sandyf]

Sandyf,

FYI.

The referendum was not advisory, it was made clear by Cameron that it was a one off in or out vote. Teresa May says Brexit means Brexit, the democratic vote needs to be acted upon.

We are out no if's or buts about it, the people have spoken.

Misrepresentations, What about the biased BBC commentary and their continued Project Fear! however the people have spoken and the new Cabinet have a clear mandate to get the UK out of the EUSSR.

Petition all you like but as Nigel says, Britain will not be the last country to leave, the EU is finished.

You obviously do not believe in the rule of law.

The first legal decision on Article 50 will be taken next Tuesday but whatever the outcome there is every probability of a referendum on the exit deal. Even Phillip Hammond has suggested 6 years to exit, as much as you would like, this is not going to be over anytime soon.

[Jip99]

Sandyf,

FYI.

The referendum was not advisory, it was made clear by Cameron that it was a one off in or out vote. Teresa May says Brexit means Brexit, the democratic vote needs to be acted upon.

We are out no if's or buts about it, the people have spoken.

Misrepresentations, What about the biased BBC commentary and their continued Project Fear! however the people have spoken and the new Cabinet have a clear mandate to get the UK out of the EUSSR.

Petition all you like but as Nigel says, Britain will not be the last country to leave, the EU is finished.

You obviously do not believe in the rule of law.

The first legal decision on Article 50 will be taken next Tuesday but whatever the outcome there is every probability of a referendum on the exit deal. Even Phillip Hammond has suggested 6 years to exit, as much as you would like, this is not going to be over anytime soon.

We are going OUT.

Done deal, no more referendums on the subject - end of. "Brexit means Brexit".

If you are certain that I am wrong Sandy put your money where your mouth is - I am prepared to wager 5,000 Baht - otherwise suck it up and move on.

[dick dasterdly]

Davis' plan for leaving the EU sounds pretty good to me.

[GuestHouse]

Davis' plan for leaving the EU sounds pretty good to me.

It sounds good, but it lacks any strategy to get there.

He has to get the agreement he wants signed off on by every one of the 27 EU members who can veto it.

Edited July 15, 2016 by GuestHouse

[dick dasterdly]

Davis' plan for leaving the EU sounds pretty good to me.

It sounds good, but it lacks any strategy to get there.

He has to get the agreement he wants signed off on by every one of the 27 EU members who can veto it.

He made it clear that he is looking to other countries as well as EU countries - who have as much to lose as the UK if they stop trading.

I think he made some v good points. Whether these work out or not remains to be seen.

[sandyf]

Sandyf,

FYI.

The referendum was not advisory, it was made clear by Cameron that it was a one off in or out vote. Teresa May says Brexit means Brexit, the democratic vote needs to be acted upon.

We are out no if's or buts about it, the people have spoken.

Misrepresentations, What about the biased BBC commentary and their continued Project Fear! however the people have spoken and the new Cabinet have a clear mandate to get the UK out of the EUSSR.

Petition all you like but as Nigel says, Britain will not be the last country to leave, the EU is finished.

You obviously do not believe in the rule of law.

The first legal decision on Article 50 will be taken next Tuesday but whatever the outcome there is every probability of a referendum on the exit deal. Even Phillip Hammond has suggested 6 years to exit, as much as you would like, this is not going to be over anytime soon.

We are going OUT.

Done deal, no more referendums on the subject - end of. "Brexit means Brexit".

If you are certain that I am wrong Sandy put your money where your mouth is - I am prepared to wager 5,000 Baht - otherwise suck it up and move on.

Not much point, every chance I will be pushing up daisies before it is over.

[Jip99]

Sandyf,

FYI.

The referendum was not advisory, it was made clear by Cameron that it was a one off in or out vote. Teresa May says Brexit means Brexit, the democratic vote needs to be acted upon.

We are out no if's or buts about it, the people have spoken.

Misrepresentations, What about the biased BBC commentary and their continued Project Fear! however the people have spoken and the new Cabinet have a clear mandate to get the UK out of the EUSSR.

Petition all you like but as Nigel says, Britain will not be the last country to leave, the EU is finished.

You obviously do not believe in the rule of law.

The first legal decision on Article 50 will be taken next Tuesday but whatever the outcome there is every probability of a referendum on the exit deal. Even Phillip Hammond has suggested 6 years to exit, as much as you would like, this is not going to be over anytime soon.

We are going OUT.

Done deal, no more referendums on the subject - end of. "Brexit means Brexit".

If you are certain that I am wrong Sandy put your money where your mouth is - I am prepared to wager 5,000 Baht - otherwise suck it up and move on.

Not much point, every chance I will be pushing up daisies before it is over.

I certainly hope not, young man!

[yogi100]

The ordinary people of Britain who came out of their homes in record numbers (70 - 80% in some areas) to vote in the referendum could not care less about the FTSE, world trade or exchange rates because few people on the minimum wage even if they've got a steady job care about finance or can afford a holiday. They've got bigger fish to fry.

It's the effects of immigration that brought them out of their street doors on the 23rd of June. Now they'll expect and demand something done about it or UKIP will be making ground in future elections with or without Farage in the driving seat.

[sandyf]

How many Brexiteers still think Turkey is about to join the EU?

Turkey's state TV reads army group's statement

http://www.bbc.com/news/36812429

[chiang mai]

Here's a bi-product of Brexit that was identified very early on, it's a reality now hence no scaremongering involved:

http://www.mirror.co.uk/money/city-news/brexit-wipes-billions-value-top-8431706

It also puts the FTSE rise into perspective when it reaffirms that UK companies who make their money overseas are seeing their value increase, that's an increase that is solely attributable to the decline in the value of Sterling and has nothing to do with Brexit euphoria or similar.

[MissAndry]

How many Brexiteers still think Turkey is about to join the EU?

Turkey's state TV reads army group's statement

http://www.bbc.com/news/36812429

There are several poor countries getting ready to join. The names of the poor countries doesn't really matter.

[Naam]

How many Brexiteers still think Turkey is about to join the EU?

Turkey's state TV reads army group's statement

http://www.bbc.com/news/36812429

There are several poor countries getting ready to join. The names of the poor countries doesn't really matter.

Wales?

[sandyf]

How many Brexiteers still think Turkey is about to join the EU?

Turkey's state TV reads army group's statement

http://www.bbc.com/news/36812429

There are several poor countries getting ready to join. The names of the poor countries doesn't really matter.

Politicians answer, avoid the question and change the context.

[sandyf]

Here's a bi-product of Brexit that was identified very early on, it's a reality now hence no scaremongering involved:

http://www.mirror.co.uk/money/city-news/brexit-wipes-billions-value-top-8431706

It also puts the FTSE rise into perspective when it reaffirms that UK companies who make their money overseas are seeing their value increase, that's an increase that is solely attributable to the decline in the value of Sterling and has nothing to do with Brexit euphoria or similar.

More reality.

Lowcost Holidays demise blamed on Brexit vote

http://www.bbc.co.uk/news/business-36810558

[chiang mai]

How many Brexiteers still think Turkey is about to join the EU?

Turkey's state TV reads army group's statement

http://www.bbc.com/news/36812429

There are several poor countries getting ready to join. The names of the poor countries doesn't really matter.

It does if they don't actually exist!

[sandyf]

Another 'gain' for brexit, all really positive.

A pensions black hole has ballooned by £89billion since last month’s bombshell Brexit vote.

Just under 6,000 company final-salary schemes have a deficit, where their assets are worth less than their liabilities.

The scale of those deficits has surged from £294.6bn at the end of May to a record £383.6bn now.

http://www.mirror.co.uk/money/city-news/pensions-black-hole-balloons-89bn-8409075#rlabs=1%20rt$category%20p$2

[Ricardo]

The private-pensions short-fall is a story which will run and run, on top of the unfunded government-pension, it's very bad news. And the government advice not-to-panic, well if ever there was an alarm-signal, then that is it !

Personally I just hope they hang on long enough, for me to be able to draw my money out (in a tax-efficient way), before it all falls apart.

[GuestHouse]

The ordinary people of Britain who came out of their homes in record numbers (70 - 80% in some areas) to vote in the referendum could not care less about the FTSE, world trade or exchange rates because few people on the minimum wage even if they've got a steady job care about finance or can afford a holiday. They've got bigger fish to fry.

It's the effects of immigration that brought them out of their street doors on the 23rd of June. Now they'll expect and demand something done about it or UKIP will be making ground in future elections with or without Farage in the driving seat.

Why do you think the new PM has said she's not going to immediately trigger Article 50, fear of UKIP or does she have something else in mind?

[nausea]

Getting back to the original question - "bugger all", especially if you're a UK pensioner living in Thailand. Still, early days, we live in hopd.