Even though we voted for it, a Brexit won't happen in the end. Here's why

[mommysboy]

Legal challenge possible.

https://www.theguardian.com/commentisfree/2016/jun/30/politics-brexit-unlawful-eu-uk

It's even more of a dud than when I posted it was a dud a couple of hours ago.

[happy Joe]

And more good news Boeing has chosen Britain for it's new European headquarters even if we leave the EU

http://www.thisismoney.co.uk/money/markets/article-3497621/Boeing-s-Brexit-boost-World-s-largest-aircraft-maker-picks-Britain-home-new-European-headquarters.html

Come on, what's all the fuss about (speaking as an American)? What, you might have to pay a 3% duty on goods into the continent? Get real and join the rest of the world! UK manufacturing can compete!

A basic economic premise: nations become wealthy by producing wealth. We don't get wealthy by serving hamburgers to each other, we get wealthy by real production of wealth: manufacturing, mining, agriculture, etc.

Banking services (that the UK might loose) do not produce wealth. They do not make the pie bigger, they only decide how the pie is sliced.

UK have confidence that your US brothers are with you in your search in determining your own future. We broke from King George over 200 years ago over similar issues, and we are with you today.

– Over two million people work in financial and related professional services across the UK, representing 7 percent of the working population, withtwo-thirds operating outside of Greater London.

– Financial and related professional

services accounts for 11.8 percent of GDP.

This was nearly twice their contribution

to employment, indicating that the sector

is highly productive – 70 percent above

the UK average.

– The average economic output per

worker in financial and related

professional services is over £85,000

per year, compared to the £47,000

UK average for other sectors.

– UK financial services contributed

£66 billion in tax revenue in 2013/14,

accounting for 11.5 percent of total

UK receipts, the largest contribution

of any sector.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/409353/UKTI_Fin_Exc_Overview_TAGGED_REV_3.pdf

Add to this brilliant presentation the declaration Francois Hollande in Europe name last night:

"There is no reason for Europe, and even less for the euro area, to allow a third country continue to make euro transactions It is not possible to keep the acquis'. For Liberal, it did not look easy to accept:

All that is ours is ours, all that is yours is negotiable ?

Well no, it does not work like that. "

And later he invited the continental financial centers prepare to recover the markets that will have to abandon the City.

[SgtRock]

Naam

In your humble, but learned experience.

What do you think is going to happen in the eurozone when this current 18 month, 60 billion a month QE program runs out in September ?

ECB launches 1 trillion euro rescue plan to revive euro economy

http://www.reuters.com/article/us-ecb-policy-idUSKBN0KU2ST20150122

i don't know what will happen and can only assume or guess that nothing much is going to happen. personally i wish that something negative happens because the ignorant, lazy and good-for-nothing morons in Brussels need more than one kick (such as Brexit) in their àrses to make them sit up.

but we all have wet dreams and that includes my [not so] humble self even though, being a cosmopolitan, it should not concern me.

It might be coming quicker than you think.

Italy in for a 40 Billion bailout

Italy is now paralyzed under the existing eurozone structure. Analysts say it desperately needs a US-style bank rescue along the lines of the ‘TARP’ in 2008, which used federal funds to mop up bad assets and stabilize the banks. This is forbidden by the eurozone. The likely outcome is that Italy's PM Renzi will be "forced" to take matters into his own hands and enact a unilateral sovereign rescue of the Italian banking system in defiance of the EU, unless he wins concessions soon from Brussels. Those who know him say he will not go down in flames for the sake of European ideological purity.

As a result, Brexit will be just the scapegoat used by Renzi and Italy to circumvent any specific eurozone prohibitions. And if it fails, all Renzi has to do is hint at a referendum of his own. Then watch as Merkel scrambles to allow Italy to do whatever it wants, just to avoid the humiliation of a potential "Italeave."

http://www.zerohedge.com/news/2016-06-27/first-casualty-brexit-italy-prepares-%E2%82%AC40-billion-bank-bailout

[MJP]

One of Britain's most famous fund managers is bullish on Brexit

One of the UK's most famous fund managers, Neil Woodford, says that Brits need to look beyond the short-term fears hitting the markets following the country's vote to leave the European Union, and focus on the long-term gains that can be made as a result of Brexit.

http://uk.businessinsider.com/neil-woodford-on-the-market-impact-of-brexit-and-the-eu-referendum-2016-6

[SgtRock]

One of Britain's most famous fund managers is bullish on Brexit

One of the UK's most famous fund managers, Neil Woodford, says that Brits need to look beyond the short-term fears hitting the markets following the country's vote to leave the European Union, and focus on the long-term gains that can be made as a result of Brexit.

http://uk.businessinsider.com/neil-woodford-on-the-market-impact-of-brexit-and-the-eu-referendum-2016-6

Which is what I have said all along. A bit of short term pain for long term gain.

[Gweiloman]

Legal challenge possible.

https://www.theguardian.com/commentisfree/2016/jun/30/politics-brexit-unlawful-eu-uk

It's even more of a dud than when I posted it was a dud a couple of hours ago.

Couldn't the same challenge then be mounted on joining the EU in the first instance? Of the signing of the various treaties?

[Naam]

the contributors of "NULL-hedge" are excellent economic counterindicators since the inception in spring 2009 when they warned "don't touch any financials!"

stupid me did not listen but bought financials left and right with profits up to 350% within a period of less than six months.

[JetsetBkk]

One of Britain's most famous fund managers is bullish on Brexit

One of the UK's most famous fund managers, Neil Woodford, says that Brits need to look beyond the short-term fears hitting the markets following the country's vote to leave the European Union, and focus on the long-term gains that can be made as a result of Brexit.

http://uk.businessinsider.com/neil-woodford-on-the-market-impact-of-brexit-and-the-eu-referendum-2016-6

Which is what I have said all along. A bit of short term pain for long term gain.

No! No! It's pain all the way... (well, until this afternoon)

Edit: Link: http://markets.ft.com/research/Markets/Tearsheets/Summary?s=FTSE:FSI

Edited June 30, 2016 by JetsetBkk

[Usernames]

One of Britain's most famous fund managers is bullish on Brexit

One of the UK's most famous fund managers, Neil Woodford, says that Brits need to look beyond the short-term fears hitting the markets following the country's vote to leave the European Union, and focus on the long-term gains that can be made as a result of Brexit.

http://uk.businessinsider.com/neil-woodford-on-the-market-impact-of-brexit-and-the-eu-referendum-2016-6

Brexit gives the UK the freedom to maneuver, take advantage of, and participate in financial and cultural trends that it will take the EU a decade to recognize and another decade to act upon. This gives the economy alacrity. Meanwhile, across the channel, Eurosclerosis sets in with a vengeance. Brexit means opportunity. The EU means a moribund, lifeless disaster. The UK has just cut itself free of a cement block that has just gone into the ocean.

[MJP]

One of Britain's most famous fund managers is bullish on Brexit

One of the UK's most famous fund managers, Neil Woodford, says that Brits need to look beyond the short-term fears hitting the markets following the country's vote to leave the European Union, and focus on the long-term gains that can be made as a result of Brexit.

http://uk.businessinsider.com/neil-woodford-on-the-market-impact-of-brexit-and-the-eu-referendum-2016-6

Brexit gives the UK the freedom to maneuver, take advantage of, and participate in financial and cultural trends that it will take the EU a decade to recognize and another decade to act upon. This gives the economy alacrity. Meanwhile, across the channel, Eurosclerosis sets in with a vengeance. Brexit means opportunity. The EU means a moribund, lifeless disaster. The UK has just cut itself free of a cement block that has just gone into the ocean.

Could not agree more old chap.

[SgtRock]

One of Britain's most famous fund managers is bullish on Brexit

One of the UK's most famous fund managers, Neil Woodford, says that Brits need to look beyond the short-term fears hitting the markets following the country's vote to leave the European Union, and focus on the long-term gains that can be made as a result of Brexit.

http://uk.businessinsider.com/neil-woodford-on-the-market-impact-of-brexit-and-the-eu-referendum-2016-6

Brexit gives the UK the freedom to maneuver, take advantage of, and participate in financial and cultural trends that it will take the EU a decade to recognize and another decade to act upon. This gives the economy alacrity. Meanwhile, across the channel, Eurosclerosis sets in with a vengeance. Brexit means opportunity. The EU means a moribund, lifeless disaster. The UK has just cut itself free of a cement block that has just gone into the ocean.

Could not agree more old chap.

+ 1

[Naam]

One of Britain's most famous fund managers is bullish on Brexit

One of the UK's most famous fund managers, Neil Woodford, says that Brits need to look beyond the short-term fears hitting the markets following the country's vote to leave the European Union, and focus on the long-term gains that can be made as a result of Brexit.

http://uk.businessinsider.com/neil-woodford-on-the-market-impact-of-brexit-and-the-eu-referendum-2016-6

Which is what I have said all along. A bit of short term pain for long term gain.

hmm... i never heard of a famous fund manager Woodford but i know of a very famous fundmanager who's net worth is $25 billion although his donations were $11 billion during the last 25 years.

this (latter) fund manager does not agree at all with the projections of Mr. Woodford and considers Brexit a disaster.

[sujoop]

One of Britain's most famous fund managers is bullish on Brexit

One of the UK's most famous fund managers, Neil Woodford, says that Brits need to look beyond the short-term fears hitting the markets following the country's vote to leave the European Union, and focus on the long-term gains that can be made as a result of Brexit.

http://uk.businessinsider.com/neil-woodford-on-the-market-impact-of-brexit-and-the-eu-referendum-2016-6

Brexit gives the UK the freedom to maneuver, take advantage of, and participate in financial and cultural trends that it will take the EU a decade to recognize and another decade to act upon. This gives the economy alacrity. Meanwhile, across the channel, Eurosclerosis sets in with a vengeance. Brexit means opportunity. The EU means a moribund, lifeless disaster. The UK has just cut itself free of a cement block that has just gone into the ocean.

Meanwhile, beyond 'freedom to maneuver, take advantage of, and participate in financial and cultural trends' (? sounds like vapid Borism-speak)

back in the 'real' world:

January 21, 2016

Record exports for UK carmakers as demand from Europe grows

*EU accounted for 57.5 per cent of all British car exports

*Sector jobs increased by 17,000, with 814,000 people now employed in the UK automotive sector

http://www.ft.com/cms/s/0/b2445b02-bec9-11e5-846f-79b0e3d20eaf.html#axzz4D353meQh

=============

June 29, 2016

Manufacturers, Consumer Firms Plead for Single-Market Access After Brexit Vote

*Why a Brexit matters to the UK Auto Industry

http://www.wsj.com/articles/u-k-auto-makers-plead-for-single-market-access-after-brexit-vote-1467191997

===============

Sub notes:

*'About a fifth of all cars produced in Germany last year, or around 820,000 vehicles, were exported to the UK'

*'UK produced 1.59 million cars last year. Some 80% of those were exported, mostly to Europe.'

*' the average employee making over £110,000 in value-added to the economy'

Any REAL plan Brexiteers to 'maneuver' to preserve and grow these high value-add UK jobs and many others which will be affected?

Edited June 30, 2016 by sujoop

[MJP]

One of Britain's most famous fund managers is bullish on Brexit

One of the UK's most famous fund managers, Neil Woodford, says that Brits need to look beyond the short-term fears hitting the markets following the country's vote to leave the European Union, and focus on the long-term gains that can be made as a result of Brexit.

http://uk.businessinsider.com/neil-woodford-on-the-market-impact-of-brexit-and-the-eu-referendum-2016-6

Which is what I have said all along. A bit of short term pain for long term gain.

hmm... i never heard of a famous fund manager Woodford but i know of a very famous fundmanager who's net worth is $25 billion although his donations were $11 billion during the last 25 years.

this (latter) fund manager does not agree at all with the projections of Mr. Woodford and considers Brexit a disaster.

Soros? He's not a fund manager. He's a wannabe dictator with a very nasty past and some pretty hideous ideals.

[Naam]

One of Britain's most famous fund managers is bullish on Brexit

One of the UK's most famous fund managers, Neil Woodford, says that Brits need to look beyond the short-term fears hitting the markets following the country's vote to leave the European Union, and focus on the long-term gains that can be made as a result of Brexit.

http://uk.businessinsider.com/neil-woodford-on-the-market-impact-of-brexit-and-the-eu-referendum-2016-6

Brexit gives the UK the freedom to maneuver, take advantage of, and participate in financial and cultural trends that it will take the EU a decade to recognize and another decade to act upon. This gives the economy alacrity. Meanwhile, across the channel, Eurosclerosis sets in with a vengeance. Brexit means opportunity. The EU means a moribund, lifeless disaster. The UK has just cut itself free of a cement block that has just gone into the ocean.

Meanwhile, beyond 'freedom to maneuver, take advantage of, and participate in financial and cultural trends' (sounds wonderful)

back in the 'real' world:

January 21, 2016

Record exports for UK carmakers as demand from Europe grows

*EU accounted for 57.5 per cent of all British car exports

*Sector jobs increased by 17,000, with 814,000 people now employed in the UK automotive sector

http://www.ft.com/cms/s/0/b2445b02-bec9-11e5-846f-79b0e3d20eaf.html#axzz4D353meQh

=============

June 29, 2016

Manufacturers, Consumer Firms Plead for Single-Market Access After Brexit Vote

*Why a Brexit matters to the UK Auto Industry

http://www.wsj.com/articles/u-k-auto-makers-plead-for-single-market-access-after-brexit-vote-1467191997

===============

Sub notes:

*'About a fifth of all cars produced in Germany last year, or around 820,000 vehicles, were exported to the UK'

*'UK produced 1.59 million cars last year. Some 80% of those were exported, mostly to Europe.'

*' the average employee making over £110,000 in value-added to the economy'

Any REAL plan Brexiteers to 'maneuver' to preserve and grow these high value-add UK jobs and many others which will be affected?

now we need a "Bremainer" to comment "UK car manufacturers are running scared!"

[chiang mai]

FTSE funds have been cheap these past seven days, no wonder its rising again with every overseas investor buying them up at a discount to the Pound. What more could an overseas investor ask for, the Pound at a substantial discount and the FTSE at a discount too, it's like having Xmas every day. .

[SgtRock]

One of Britain's most famous fund managers is bullish on Brexit

One of the UK's most famous fund managers, Neil Woodford, says that Brits need to look beyond the short-term fears hitting the markets following the country's vote to leave the European Union, and focus on the long-term gains that can be made as a result of Brexit.

http://uk.businessinsider.com/neil-woodford-on-the-market-impact-of-brexit-and-the-eu-referendum-2016-6

Which is what I have said all along. A bit of short term pain for long term gain.

hmm... i never heard of a famous fund manager Woodford but i know of a very famous fundmanager who's net worth is $25 billion although his donations were $11 billion during the last 25 years.

this (latter) fund manager does not agree at all with the projections of Mr. Woodford and considers Brexit a disaster.

I have never heard of him either. I only said that I was also a believer that there would be short term pain balanced out by longer term gain

I also believe that the eurozone is going to get one hell of a shock around the end of September when euro 60 Billion a month QE comes to an end.

[Naam]

hmm... i never heard of a famous fund manager Woodford but i know of a very famous fundmanager who's net worth is $25 billion although his donations were $11 billion during the last 25 years.

this (latter) fund manager does not agree at all with the projections of Mr. Woodford and considers Brexit a disaster.

Soros? He's not a fund manager. He's a wannabe dictator with a very nasty past and some pretty hideous ideals.

Soros Fund Management, LLC is an American hedge fund management firm. It is currently structured as a family office but formerly a hedge fund. The firm was founded in 1969 by George Soros and in 2010 was reported to be one of the most profitable firms in the hedge fund industry,^%5B1%5D averaging a 20% annual rate of return over four decades.^%5B2%5D It is headquartered at 888 7th Avenue in New York City.

hideous because he broke the back of the Bank of England in 1992? his actions dimished considerably the profits of my portfolio because at that time i was heavily in invested in Sterling.

i didn't call him hideous then but names and used adjectives which i can't post because forum rules do not allow foul language.

[Franky Bear]

Do you guys not understand that this represents opinion, asking for numbers or clarification of what is, "a lot" is banal, what is your problem!

I guess my problem is enjoying reading credible facts and figures. Or have i got this wrong? Help me out.

"Help me out". - Back the way you came in.

So you're not prepared, or most likely can't explain?

C'mon mate, give it a good crack.....

[pitrevie]

Another one of those silly experts so derided by Gove who has just announced his leadership bid.

[ilostmypassword]

One of Britain's most famous fund managers is bullish on Brexit

One of the UK's most famous fund managers, Neil Woodford, says that Brits need to look beyond the short-term fears hitting the markets following the country's vote to leave the European Union, and focus on the long-term gains that can be made as a result of Brexit.

http://uk.businessinsider.com/neil-woodford-on-the-market-impact-of-brexit-and-the-eu-referendum-2016-6

Which is what I have said all along. A bit of short term pain for long term gain.

hmm... i never heard of a famous fund manager Woodford but i know of a very famous fundmanager who's net worth is $25 billion although his donations were $11 billion during the last 25 years.

this (latter) fund manager does not agree at all with the projections of Mr. Woodford and considers Brexit a disaster.

Soros? He's not a fund manager. He's a wannabe dictator with a very nasty past and some pretty hideous ideals.

when you see something like this about George Soros you know you're either dealing with a right wing Kool-aid drinker or Vladimir Putin.

[chiang mai]

Interesting to note that some Asian banks are taking a big hit over Brexit. Moody's has downgraded the top five Singaporean banks and UOB, one of London's largest lenders to foreigners, on property in London, has just suspended their UK mortgage lending. UOB is of course the bank of choice for many expats in Thailand.

[ilostmypassword]

hmm... i never heard of a famous fund manager Woodford but i know of a very famous fundmanager who's net worth is $25 billion although his donations were $11 billion during the last 25 years.

this (latter) fund manager does not agree at all with the projections of Mr. Woodford and considers Brexit a disaster.

Soros? He's not a fund manager. He's a wannabe dictator with a very nasty past and some pretty hideous ideals.

Soros Fund Management, LLC is an American hedge fund management firm. It is currently structured as a family office but formerly a hedge fund. The firm was founded in 1969 by George Soros and in 2010 was reported to be one of the most profitable firms in the hedge fund industry,^%5B1%5D averaging a 20% annual rate of return over four decades.^%5B2%5D It is headquartered at 888 7th Avenue in New York City.

hideous because he broke the back of the Bank of England in 1992? his actions dimished considerably the profits of my portfolio because at that time i was heavily in invested in Sterling.

i didn't call him hideous then but names and used adjectives which i can't post because forum rules do not allow foul language.

He bet the the pound would have to be devalued and he was right. Clearly the man is a monster.

[chiang mai]

Do you guys not understand that this represents opinion, asking for numbers or clarification of what is, "a lot" is banal, what is your problem!

I guess my problem is enjoying reading credible facts and figures. Or have i got this wrong? Help me out.

"Help me out". - Back the way you came in.

So you're not prepared, or most likely can't explain?

C'mon mate, give it a good crack.....

Crack....bye!

[Jip99]

Soros? He's not a fund manager. He's a wannabe dictator with a very nasty past and some pretty hideous ideals.

Soros Fund Management, LLC is an American hedge fund management firm. It is currently structured as a family office but formerly a hedge fund. The firm was founded in 1969 by George Soros and in 2010 was reported to be one of the most profitable firms in the hedge fund industry,^%5B1%5D averaging a 20% annual rate of return over four decades.^%5B2%5D It is headquartered at 888 7th Avenue in New York City.

hideous because he broke the back of the Bank of England in 1992? his actions dimished considerably the profits of my portfolio because at that time i was heavily in invested in Sterling.

i didn't call him hideous then but names and used adjectives which i can't post because forum rules do not allow foul language.

He bet the the pound would have to be devalued and he was right. Clearly the man is a monster.

Chiang Mai predicted a 20% fall in GBP/THB if there was a vote to LEAVE........................................ that doesn't make him a monster.

OK, he was wrong.............. but still not a monster

[MissAndry]

He bet the the pound would have to be devalued and he was right. Clearly the man is a monster.

Chiang Mai predicted a 20% fall in GBP/THB if there was a vote to LEAVE........................................ that doesn't make him a monster.

OK, he was wrong.............. but still not a monster

Holding fairly steady at 47.25, down from 52 = 9% drop so far.

I'm betting it will recover in the next 2 months.

[chiang mai]

Chiang Mai predicted a 20% fall in GBP/THB if there was a vote to LEAVE........................................ that doesn't make him a monster.

OK, he was wrong.............. but still not a monster

Provide a link to prove that I predicted such a thing else it's all hot air and baloney, in your case, the result being I suspect of imbibing too many bad things over far too long of a period of time.

Next!

[chiang mai]

Boris withdraws from the contest for PM.

There is a God after all.

http://www.telegraph.co.uk/

[ilostmypassword]

Boris withdraws from the contest for PM.

There is a God after all.

http://www.telegraph.co.uk/

Smart move on his part. Don't think he wants his reputation to be tainted by what will follow.

[fasteddie]

In my years here I rarely post.

I'm an American so it can be debated if I have a horse in this race.

Maybe the Brits have just voted themselves into recession. That's to be seen, but I wonder if anyone here understands the EU concept of Qualified Majority Voting? If so, maybe you can explain it ti the masses.

For sure the Brits have just shot themselves in the foot in near term economic terms, but maybe that was better than shooting themselves in the head in terms of the long term solution.

In my mind there is not a simple answer to this complex question. For sure the Brits economically would be better off (now) staying in the union, but at what long term cost? The loss of sovereignty over their own country?

Again, speaking as an American, I would pay the price to throw off the yoke of debilitating regulation so that my progeny might live free of it.

My support to David Cameron. He is a leader the west needs more of.

"My support to David Cameron. He is a leader the west needs more of."

Yeah right, that's why the numpty has thankfully resigned.