A week after British vote, markets take stock

[webfact]

A week after British vote, markets take stock
By GREG KELLER

NEW YORK (AP) — A week after Britain's shocking vote to leave the European Union, markets seem to have pushed the pause button.

After a two-day spree of near panic selling that wiped out an unprecedented $3 trillion from global markets, investors, analysts and pundits in the U.S. and abroad spent the week following the vote collectively revising their knee-jerk reactions to what has become known as the "Brexit" vote.

Markets closed out the week just a hair below their pre-vote level, with the S&P 500 index rebounding from a 5.3 percent drop to finish just 10 points below where it started.

A week after Britain's historic "leave" vote, what's the outlook for markets and the economy? Is the sky really falling, or are there opportunities, if not silver linings, for investors?

Here are five ways markets are rethinking the impact of the unprecedented move by an EU member to begin unravelling the nearly 60-year-old project to bring peace and prosperity to Europe.

___

EUROPEAN FALLOUT

The impact will vary widely depending on your distance from the Brexit bomb's crater.

Worst off, predictably, will be Britain. Its finance minister, George Osborne, warned Friday that the referendum is "likely to lead to a significant negative shock for the British economy." The Institute of International Finance, a think tank for the banking industry, predicts Britain will slide into recession in the second half of this year.

Fallout in the eurozone will be less, but still significant. Brad Setser at the Council on Foreign Relations reckons that just the uncertainty over Britain's departure from the trade block "will knock a cumulative half a percentage point off euro area growth over the next two years."

The IIF, meanwhile also predicts a hit to the 19 eurozone countries: It forecasts growth there will fall to 1.4 percent next year from 1.7 percent in 2016.

___

GLOBAL FALLOUT

Outside Britain and the euro zone, a consensus is emerging that the damage will be contained.

While the direct impact on the U.S. of weaker economic growth in U.K. isn't large — American exports to Britain account for only around 0.5 percent of U.S. GDP — the primary economic challenge is expected to be uncertainty.

"Only if we see some sort of "exit fever" spreading through other countries will the damage be severe" in the U.S., S&P Global Ratings says.

Ksenia Bushmeneva, an economist with TD Economics, predicted Britain's departure from the EU would slow global growth by 0.2 percentage points next year to 3.2 percent. "The U.S. economy should be relatively well-insulated but it will not be completely immune," Ksenia said.

S&P Global now expects U.S. real GDP to grow by 2.0 percent in 2016, versus its 2.3 percent forecast in March, and by 2.4 percent next year.

___

INTEREST RATES

The amped-up dollar and the uncertainty that followed the British vote mean the Federal Reserve probably won't raise American interest rates anytime soon, perhaps not until next year.

S&P Global forecasts the Federal Reserve will "likely stay on the sidelines" until its December meeting. The Fed will then "gradually" raise rates next year, S&P Global says.

Oppenheimer Funds Chief Investment Officer Krishna Memani likens the current situation to how Europe's central bank handled its 2011 crisis. Memani says the Fed and other central banks "will do whatever is necessary to limit the fallout from the (British) referendum and provide support to the global economy."

___

U.S. HOUSING MARKET

Last week's tumult in Britain and Europe sent investors fleeing to the refuge of U.S. government bonds, pushing down American interest rates. Long-term U.S. mortgage rates fell to new lows for the year, which is good news for the housing market.

Lawrence Yun, chief economist for the National Association of Realtors, says Britain's isolationist move "may cause wealthy foreigners to consider selling their properties in UK, especially in London as it becomes a less attractive place to set up offices to conduct global business."

Yun forecast demand for US real estate to rise "if global investors view America as open to global business."

S&P Global takes a similar view, saying "Perhaps, as London became less attractive as a location for global business, demand for U.S. real estate could surge, driving up foreign investment."

___

U.S. ECONOMY

Economists, impressed by the vitality of American consumers, expect the economy to grow at least twice as fast from April through June as the 1.1 percent rate in the first quarter. Consumer spending, after all, accounts for 70 percent of U.S. economic activity.

Meanwhile the Federal Reserve reported Wednesday that 31 of 33 big banks passed an annual checkup meant to show whether their finances are strong enough to withstand a major economic downturn.

The stress test results suggest that the financial fallout from the British exit from the EU won't be anything like the Wall Street panic that followed the September 2008 collapse Lehman Bros.

"The United States appears to be an oasis in the storm," said Mark Vitner, senior economist at Wells Fargo. "Growth is solid, albeit unspectacular, which is far better than much of the rest of the world."

___

Associated Press Writer Paul Wiseman in Washington contributed to this report.


-- (c) Associated Press 2016-07-04

[Buzzz]

The British tech companies are planning to move to California so they have favorable trade with the EU.

The future engine of an economy is technology, engineering and science. They blew it.

[Laughing Gravy]

All scare mongering again. Supposedly after the vote if Brexit happened the end of the world was happening. Well it never as I am millions of others expected. Life will go on and the rest of Europe will deal with the UK as they have. so much rubbish printed around of could, maybe, possibly. Well the first week has been OK and that was meant to be a Tsunami when it was a small wave that has subsided.

[BuaBS]

"Markets" .... that's a joke . Freshly "printed" money went into them to support them.

But good for Gold & Silver , hehe !

[bassman]

All scare mongering again. Supposedly after the vote if Brexit happened the end of the world was happening. Well it never as I am millions of others expected. Life will go on and the rest of Europe will deal with the UK as they have. so much rubbish printed around of could, maybe, possibly. Well the first week has been OK and that was meant to be a Tsunami when it was a small wave that has subsided.

It is all scare mongering.

Stock markets in the USA had their highest up for the year last week. Also Brexit is going to be the "reason" for world wide central bank money printing, as shown last Monday when the EU handed out 44 Billion Euros to Italian banks. It will all be about Brexit and nothing to do with the worlds stagnate economies, which has been going on in the west since 2008 and has been going on in Japan since 1990.

What is the new word on the street? "Helicopter money". money printed and passed out to the masses in one definition, writing off (monetizing) government debts in another. The problems with the monetary/economic situation goes way beyond Brexit as shown with negative and low interest rates on government bonds and extremely low inflation despite all the easy credit.

The world is screwed and it is not because of Brexit. How long can money be printed before all economies collapse?

[SgtRock]

All scare mongering again. Supposedly after the vote if Brexit happened the end of the world was happening. Well it never as I am millions of others expected. Life will go on and the rest of Europe will deal with the UK as they have. so much rubbish printed around of could, maybe, possibly. Well the first week has been OK and that was meant to be a Tsunami when it was a small wave that has subsided.

It is all scare mongering.

Stock markets in the USA had their highest up for the year last week. Also Brexit is going to be the "reason" for world wide central bank money printing, as shown last Monday when the EU handed out 44 Billion Euros to Italian banks. It will all be about Brexit and nothing to do with the worlds stagnate economies, which has been going on in the west since 2008 and has been going on in Japan since 1990.

What is the new word on the street? "Helicopter money". money printed and passed out to the masses in one definition, writing off (monetizing) government debts in another. The problems with the monetary/economic situation goes way beyond Brexit as shown with negative and low interest rates on government bonds and extremely low inflation despite all the easy credit.

The world is screwed and it is not because of Brexit. How long can money be printed before all economies collapse?

No, it is not all scaremongering, What was scaremongering was pinning it on a Brexit vote.

The euro 44 Billion that has just been handed to Italy is peanuts in comparison to the QE of the ECB for the past 15 months to the tune of euro 60 Billion a month, this comes to an end in September.

You are correct. Economies will start to collapse soon, some already have, they have just not admitted it yet and continue to throw invisible money at them.

Brexit, is nothing more than a convenient focal point to hide the real failings around the world.

[Credo]

I can't quite figure out if Brexit is the disease, a symptom or the cure?

[sirineou]

All scare mongering again. Supposedly after the vote if Brexit happened the end of the world was happening. Well it never as I am millions of others expected. Life will go on and the rest of Europe will deal with the UK as they have. so much rubbish printed around of could, maybe, possibly. Well the first week has been OK and that was meant to be a Tsunami when it was a small wave that has subsided.

You guys decided to leave the party and nobody cared.Nothing to be proud about,

Money will always take the path of least resistance , and you just introduced a hefty amount of resistance.

The markets will initially fall, as they did . Then there will be some bargain buying, and the market will rise, then some profit taking with a slight fall.until it reflects the realities of the fundamentals.

It will neither go up or down because of brexit, in the long run,

It will go sideways leaving what remains of the UK in the dust.

Personally I like the Brits, I find most I have met to be amicable, friendly , intelligent and for the most part fun to be around. I hate for then to have to go through what they are about to, because of a misinformed, scared,segment of their population, and wish them the best of luck of successfully resolving the situation they find themselves in. A situation , I might add any of us could be found in,, given the stress our countries experience in this age of economic flux, and the propensity for knee jerk reaction that fear creates.

[Laughing Gravy]

All scare mongering again. Supposedly after the vote if Brexit happened the end of the world was happening. Well it never as I am millions of others expected. Life will go on and the rest of Europe will deal with the UK as they have. so much rubbish printed around of could, maybe, possibly. Well the first week has been OK and that was meant to be a Tsunami when it was a small wave that has subsided.

You guys decided to leave the party and nobody cared.Nothing to be proud about,

Money will always take the path of least resistance , and you just introduced a hefty amount of resistance.

The markets will initially fall, as they did . Then there will be some bargain buying, and the market will rise, then some profit taking with a slight fall.until it reflects the realities of the fundamentals.

It will neither go up or down because of brexit, in the long run,

It will go sideways leaving what remains of the UK in the dust.

Personally I like the Brits, I find most I have met to be amicable, friendly , intelligent and for the most part fun to be around. I hate for then to have to go through what they are about to, because of a misinformed, scared,segment of their population, and wish them the best of luck of successfully resolving the situation they find themselves in. A situation , I might add any of us could be found in,, given the stress our countries experience in this age of economic flux, and the propensity for knee jerk reaction that fear creates.

Every little thing to do with the markets and finance is being blamed on Brexit. The price of cattle has gone up in Africa, is that the fault of Brexit? Rubbish. If the UK sticks to its beliefs and as the referendum was all about getting out of the EU, then it will be fine. The sooner it can negotiate the terms with other countries the better. It would seem with the bunch of gutless, backstabbing, hopeless dimwit politicians, that we could have to wait for this to happen. I have to say that the rest of the EU have been quite positive and I can't see the problems, that all the remainers claimed before the referendum

[SgtRock]

All scare mongering again. Supposedly after the vote if Brexit happened the end of the world was happening. Well it never as I am millions of others expected. Life will go on and the rest of Europe will deal with the UK as they have. so much rubbish printed around of could, maybe, possibly. Well the first week has been OK and that was meant to be a Tsunami when it was a small wave that has subsided.

You guys decided to leave the party and nobody cared.Nothing to be proud about,

Money will always take the path of least resistance , and you just introduced a hefty amount of resistance.

The markets will initially fall, as they did . Then there will be some bargain buying, and the market will rise, then some profit taking with a slight fall.until it reflects the realities of the fundamentals.

It will neither go up or down because of brexit, in the long run,

It will go sideways leaving what remains of the UK in the dust.

Personally I like the Brits, I find most I have met to be amicable, friendly , intelligent and for the most part fun to be around. I hate for then to have to go through what they are about to, because of a misinformed, scared,segment of their population, and wish them the best of luck of successfully resolving the situation they find themselves in. A situation , I might add any of us could be found in,, given the stress our countries experience in this age of economic flux, and the propensity for knee jerk reaction that fear creates.

This was a really stupid line, as a non Brit you can be excused. Let me remind of what was said:

A vote for Brexit is a leap in the dark and the dark is scary place.

A scared section of the population ? On the contrary. It could be argued that those that voted remain were the ones that were scared.

The markets can do what they want, the money men will control the markets as usual. Makes no real difference to the vast majority of UK Citizens.

Finally, if you think this was a knee jerk reaction, you have seriously underestimated what has been happening in the UK for at least the last 2 decades.

[Usernames]

All scare mongering again. Supposedly after the vote if Brexit happened the end of the world was happening. Well it never as I am millions of others expected. Life will go on and the rest of Europe will deal with the UK as they have. so much rubbish printed around of could, maybe, possibly. Well the first week has been OK and that was meant to be a Tsunami when it was a small wave that has subsided.

You guys decided to leave the party and nobody cared.Nothing to be proud about,

Money will always take the path of least resistance , and you just introduced a hefty amount of resistance.

The markets will initially fall, as they did . Then there will be some bargain buying, and the market will rise, then some profit taking with a slight fall.until it reflects the realities of the fundamentals.

It will neither go up or down because of brexit, in the long run,

It will go sideways leaving what remains of the UK in the dust.

Personally I like the Brits, I find most I have met to be amicable, friendly , intelligent and for the most part fun to be around. I hate for then to have to go through what they are about to, because of a misinformed, scared,segment of their population, and wish them the best of luck of successfully resolving the situation they find themselves in. A situation , I might add any of us could be found in,, given the stress our countries experience in this age of economic flux, and the propensity for knee jerk reaction that fear creates.

Every little thing to do with the markets and finance is being blamed on Brexit. The price of cattle has gone up in Africa, is that the fault of Brexit? Rubbish. If the UK sticks to its beliefs and as the referendum was all about getting out of the EU, then it will be fine. The sooner it can negotiate the terms with other countries the better. It would seem with the bunch of gutless, backstabbing, hopeless dimwit politicians, that we could have to wait for this to happen. I have to say that the rest of the EU have been quite positive and I can't see the problems, that all the remainers claimed before the referendum

BBC just blamed a New York guitar string manufacturer's fears (there is no actual business impact, yet!) on Brexit. I would say they would blame climate change on Brexit too. But even there the news was actually good after the vote--they announced that the ozone hole was repairing itself.

[Ace of Pop]

They have just given my nation a few billion Euroes to paint old buildings. Perhaps i should have stayed there. Have to pay fore myself here in Thailand .How they chuck taxpayers money away defies all logic.

[sirineou]

All scare mongering again. Supposedly after the vote if Brexit happened the end of the world was happening. Well it never as I am millions of others expected. Life will go on and the rest of Europe will deal with the UK as they have. so much rubbish printed around of could, maybe, possibly. Well the first week has been OK and that was meant to be a Tsunami when it was a small wave that has subsided.

You guys decided to leave the party and nobody cared.Nothing to be proud about,

Money will always take the path of least resistance , and you just introduced a hefty amount of resistance.

The markets will initially fall, as they did . Then there will be some bargain buying, and the market will rise, then some profit taking with a slight fall.until it reflects the realities of the fundamentals.

It will neither go up or down because of brexit, in the long run,

It will go sideways leaving what remains of the UK in the dust.

Personally I like the Brits, I find most I have met to be amicable, friendly , intelligent and for the most part fun to be around. I hate for then to have to go through what they are about to, because of a misinformed, scared,segment of their population, and wish them the best of luck of successfully resolving the situation they find themselves in. A situation , I might add any of us could be found in,, given the stress our countries experience in this age of economic flux, and the propensity for knee jerk reaction that fear creates.

This was a really stupid line, as a non Brit you can be excused. Let me remind of what was said:

A vote for Brexit is a leap in the dark and the dark is scary place.

A scared section of the population ? On the contrary. It could be argued that those that voted remain were the ones that were scared.

The markets can do what they want, the money men will control the markets as usual. Makes no real difference to the vast majority of UK Citizens.

Finally, if you think this was a knee jerk reaction, you have seriously underestimated what has been happening in the UK for at least the last 2 decades.

Nothing that has not being happening to most countries in the world.

We find our selves in a transitional time, transitioning from the industrial age, to the information age. This transition is displacing people and is creating friction.

I understand the need for contingencies to mitigate such displacements, but one has to be careful not to throw out the baby with the bathwater, which is what IMO the brexit move did.

I agree with you, "A vote for Brexit is a leap in the dark and the dark is scary place. "

but I wonder. is a leap in the dark a rational decision?and what motivates one to take a leap in the dark?

[mcfish]

Nothing goes up or down in a straight line forever. Even during the total collapse of the markets in 2008 the charts reversed countless times , lots of up trends long enough for big money holders to offload and the BAM! down she goes.

It is what it is, just a pause ..

[SgtRock]

You guys decided to leave the party and nobody cared.Nothing to be proud about,

Money will always take the path of least resistance , and you just introduced a hefty amount of resistance.

The markets will initially fall, as they did . Then there will be some bargain buying, and the market will rise, then some profit taking with a slight fall.until it reflects the realities of the fundamentals.

It will neither go up or down because of brexit, in the long run,

It will go sideways leaving what remains of the UK in the dust.

Personally I like the Brits, I find most I have met to be amicable, friendly , intelligent and for the most part fun to be around. I hate for then to have to go through what they are about to, because of a misinformed, scared,segment of their population, and wish them the best of luck of successfully resolving the situation they find themselves in. A situation , I might add any of us could be found in,, given the stress our countries experience in this age of economic flux, and the propensity for knee jerk reaction that fear creates.

This was a really stupid line, as a non Brit you can be excused. Let me remind of what was said:

A vote for Brexit is a leap in the dark and the dark is scary place.

A scared section of the population ? On the contrary. It could be argued that those that voted remain were the ones that were scared.

The markets can do what they want, the money men will control the markets as usual. Makes no real difference to the vast majority of UK Citizens.

Finally, if you think this was a knee jerk reaction, you have seriously underestimated what has been happening in the UK for at least the last 2 decades.

Nothing that has not being happening to most countries in the world.

We find our selves in a transitional time, transitioning from the industrial age, to the information age. This transition is displacing people and is creating friction.

I understand the need for contingencies to mitigate such displacements, but one has to be careful not to throw out the baby with the bathwater, which is what IMO the brexit move did.

I agree with you, "A vote for Brexit is a leap in the dark and the dark is scary place. "

but I wonder. is a leap in the dark a rational decision?and what motivates one to take a leap in the dark?

You picked me up wrong. That statement was made by the remain campaign, not by me.

It is not I, or any other leaver that is afraid of the dark.

The UK, IMO is currently a basketcase. This is not solely down to the EU, but it plays its part. When something goes awry in the UK it is usually blamed on the EU. Again, some of that is true, but other parts of it are down to inept UK Politicians. The easiest way to deal with that is to get rid of the EU, which in turn makes it easier to hold incompetent UK MP's to account.

But that is only one small part of it. Has the EU really been beneficial for the UK ? In some area's yes, in others no, and on balance, overall it has not been beneficial for the UK.

Very weak UK Politicians combined with an overbearing EU has not done the UK much good. You would need to ask a question on a specific point or area to get an answer.

[daveAustin]

I'm not currently that concerned with what the markets are doing around the world (it was never going to be doomsday) and anyone who is not tied up in the EU, or not part of some other dictatorial group, are really not qualified to be commenting on why the majority of people in the UK would want to go on their own.

[sirineou]

You guys decided to leave the party and nobody cared.Nothing to be proud about,

Money will always take the path of least resistance , and you just introduced a hefty amount of resistance.

The markets will initially fall, as they did . Then there will be some bargain buying, and the market will rise, then some profit taking with a slight fall.until it reflects the realities of the fundamentals.

It will neither go up or down because of brexit, in the long run,

It will go sideways leaving what remains of the UK in the dust.

Personally I like the Brits, I find most I have met to be amicable, friendly , intelligent and for the most part fun to be around. I hate for then to have to go through what they are about to, because of a misinformed, scared,segment of their population, and wish them the best of luck of successfully resolving the situation they find themselves in. A situation , I might add any of us could be found in,, given the stress our countries experience in this age of economic flux, and the propensity for knee jerk reaction that fear creates.

This was a really stupid line, as a non Brit you can be excused. Let me remind of what was said:

A vote for Brexit is a leap in the dark and the dark is scary place.

A scared section of the population ? On the contrary. It could be argued that those that voted remain were the ones that were scared.

The markets can do what they want, the money men will control the markets as usual. Makes no real difference to the vast majority of UK Citizens.

Finally, if you think this was a knee jerk reaction, you have seriously underestimated what has been happening in the UK for at least the last 2 decades.

Nothing that has not being happening to most countries in the world.

We find our selves in a transitional time, transitioning from the industrial age, to the information age. This transition is displacing people and is creating friction.

I understand the need for contingencies to mitigate such displacements, but one has to be careful not to throw out the baby with the bathwater, which is what IMO the brexit move did.

I agree with you, "A vote for Brexit is a leap in the dark and the dark is scary place. "

but I wonder. is a leap in the dark a rational decision?and what motivates one to take a leap in the dark?

You picked me up wrong. That statement was made by the remain campaign, not by me.

It is not I, or any other leaver that is afraid of the dark.

The UK, IMO is currently a basketcase. This is not solely down to the EU, but it plays its part. When something goes awry in the UK it is usually blamed on the EU. Again, some of that is true, but other parts of it are down to inept UK Politicians. The easiest way to deal with that is to get rid of the EU, which in turn makes it easier to hold incompetent UK MP's to account.

But that is only one small part of it. Has the EU really been beneficial for the UK ? In some area's yes, in others no, and on balance, overall it has not been beneficial for the UK.

Very weak UK Politicians combined with an overbearing EU has not done the UK much good. You would need to ask a question on a specific point or area to get an answer.

A very reasonable answer, but not one I agree with. Of course Just because I don't agree with it, it does not mean that I am right and you are wrong

Here is what I think The UK's position in the EU, aside from the specific benefited it afforded to the UK, it had intrinsic value. In residential real estate one can do a CMA to determine it's value, but in commercial real state one needs to consider it's intrinsic value.

A particular corner, prevalent to a particular traffic, is beneficial to positive outcomes for a particular business.

So when one considers the benefits the EU afforded the UK , one has to consider things that are not immediately evident.

The Language of business is English, and since the language of the UK is English also coupled with existing infrastructure,it had given the UK an advantage with in the EU.that other countries do not have.The UK is in many ways the gateway to the EU for most of the world. Leave the EU and you lose that advantage.

Sure your language will still be English, but the benefit it affords businesses, is outweighed by the disadvantages of not being part of the EU. Remember, money takes the path of least resistance.

So you can say, we did it before and we can do it again, You want to go back to the way you did it before, a reasonable desire, back to the familiar. But that before no longer exists.

IMO the benefits of leaving the EU will not even come close to balancing the losses . Pride is a noble attribute, but pride can also be a sin that can cloud our thinking, regardless, of which, it can never fill your belly.

I hope I am wrong.

[SgtRock]

This was a really stupid line, as a non Brit you can be excused. Let me remind of what was said:

A vote for Brexit is a leap in the dark and the dark is scary place.

A scared section of the population ? On the contrary. It could be argued that those that voted remain were the ones that were scared.

The markets can do what they want, the money men will control the markets as usual. Makes no real difference to the vast majority of UK Citizens.

Finally, if you think this was a knee jerk reaction, you have seriously underestimated what has been happening in the UK for at least the last 2 decades.

Nothing that has not being happening to most countries in the world.

We find our selves in a transitional time, transitioning from the industrial age, to the information age. This transition is displacing people and is creating friction.

I understand the need for contingencies to mitigate such displacements, but one has to be careful not to throw out the baby with the bathwater, which is what IMO the brexit move did.

I agree with you, "A vote for Brexit is a leap in the dark and the dark is scary place. "

but I wonder. is a leap in the dark a rational decision?and what motivates one to take a leap in the dark?

You picked me up wrong. That statement was made by the remain campaign, not by me.

It is not I, or any other leaver that is afraid of the dark.

The UK, IMO is currently a basketcase. This is not solely down to the EU, but it plays its part. When something goes awry in the UK it is usually blamed on the EU. Again, some of that is true, but other parts of it are down to inept UK Politicians. The easiest way to deal with that is to get rid of the EU, which in turn makes it easier to hold incompetent UK MP's to account.

But that is only one small part of it. Has the EU really been beneficial for the UK ? In some area's yes, in others no, and on balance, overall it has not been beneficial for the UK.

Very weak UK Politicians combined with an overbearing EU has not done the UK much good. You would need to ask a question on a specific point or area to get an answer.

A very reasonable answer, but not one I agree with. Of course Just because I don't agree with it, it does not mean that I am right and you are wrong Here is what I think The UK's position in the EU, aside from the specific benefited it afforded to the UK, it had intrinsic value. In residential real estate one can do a CMA to determine it's value, but in commercial real state one needs to consider it's intrinsic value.

A particular corner, prevalent to a particular traffic, is beneficial to positive outcomes for a particular business.

So when one considers the benefits the EU afforded the UK , one has to consider things that are not immediately evident. The Language of business is English, and since the language of the UK is English also coupled with existing infrastructure,it had given the UK an advantage with in the EU.that other countries do not have.The UK is in many ways the gateway to the EU for most of the world. Leave the EU and you lose that advantage. Sure your language will still be English, but the benefit it affords businesses, is outweighed by the disadvantages of not being part of the EU. Remember, money takes the path of least resistance. So you can say, we did it before and we can do it again, You want to go back to the way you did it before.a reasonable desire,back to the familiar. But that before no longer exists. IMO the benefits of leaving the EU will not even come close to balancing the losses . Pride is a noble attribute, but pride can also be a sin that can cloud our thinking, regardless, of which, it can never fill your belly.

I hope I am wrong.

You have unwittingly, by being a non Brit highlighted 2 areas that caused people to vote to leave the EU.

Business and property.

In addition, those that have no money, are unemployed or are scraping a living on the minimum wage do not really give a sh!t what path money takes or where the Markets go, it has no concern for them.

And leavers do not want to go back anywhere, We want to go forward with a big massive world population of some 7 Billion than be tied to a Union of some 450 Million with its protected markets.

Sorry, what you think you understand and what is reality are light years apart.

[sirineou]

Nothing that has not being happening to most countries in the world.

We find our selves in a transitional time, transitioning from the industrial age, to the information age. This transition is displacing people and is creating friction.

I understand the need for contingencies to mitigate such displacements, but one has to be careful not to throw out the baby with the bathwater, which is what IMO the brexit move did.

I agree with you, "A vote for Brexit is a leap in the dark and the dark is scary place. "

but I wonder. is a leap in the dark a rational decision?and what motivates one to take a leap in the dark?

You picked me up wrong. That statement was made by the remain campaign, not by me.

It is not I, or any other leaver that is afraid of the dark.

The UK, IMO is currently a basketcase. This is not solely down to the EU, but it plays its part. When something goes awry in the UK it is usually blamed on the EU. Again, some of that is true, but other parts of it are down to inept UK Politicians. The easiest way to deal with that is to get rid of the EU, which in turn makes it easier to hold incompetent UK MP's to account.

But that is only one small part of it. Has the EU really been beneficial for the UK ? In some area's yes, in others no, and on balance, overall it has not been beneficial for the UK.

Very weak UK Politicians combined with an overbearing EU has not done the UK much good. You would need to ask a question on a specific point or area to get an answer.

A very reasonable answer, but not one I agree with. Of course Just because I don't agree with it, it does not mean that I am right and you are wrong Here is what I think The UK's position in the EU, aside from the specific benefited it afforded to the UK, it had intrinsic value. In residential real estate one can do a CMA to determine it's value, but in commercial real state one needs to consider it's intrinsic value.

A particular corner, prevalent to a particular traffic, is beneficial to positive outcomes for a particular business.

So when one considers the benefits the EU afforded the UK , one has to consider things that are not immediately evident. The Language of business is English, and since the language of the UK is English also coupled with existing infrastructure,it had given the UK an advantage with in the EU.that other countries do not have.The UK is in many ways the gateway to the EU for most of the world. Leave the EU and you lose that advantage. Sure your language will still be English, but the benefit it affords businesses, is outweighed by the disadvantages of not being part of the EU. Remember, money takes the path of least resistance. So you can say, we did it before and we can do it again, You want to go back to the way you did it before.a reasonable desire,back to the familiar. But that before no longer exists. IMO the benefits of leaving the EU will not even come close to balancing the losses . Pride is a noble attribute, but pride can also be a sin that can cloud our thinking, regardless, of which, it can never fill your belly.

I hope I am wrong.

You have unwittingly, by being a non Brit highlighted 2 areas that caused people to vote to leave the EU.

Business and property.

In addition, those that have no money, are unemployed or are scraping a living on the minimum wage do not really give a sh!t what path money takes or where the Markets go, it has no concern for them.

And leavers do not want to go back anywhere, We want to go forward with a big massive world population of some 7 Billion than be tied to a Union of some 450 Million with its protected markets.

Sorry, what you think you understand and what is reality are light years apart.

It is indeed the ones that are unemployed or are scraping a living on the minimum wage, that should give a shit what path money takes, and should hope it flows their direction.

I dont think Brexit will acomplish this goal for the reasons I stated.

But as you said my understanding could be flawed. And for the sake of all my British friends I hope you are right.

[SgtRock]

A very reasonable answer, but not one I agree with. Of course Just because I don't agree with it, it does not mean that I am right and you are wrong Here is what I think The UK's position in the EU, aside from the specific benefited it afforded to the UK, it had intrinsic value. In residential real estate one can do a CMA to determine it's value, but in commercial real state one needs to consider it's intrinsic value.

A particular corner, prevalent to a particular traffic, is beneficial to positive outcomes for a particular business.

So when one considers the benefits the EU afforded the UK , one has to consider things that are not immediately evident. The Language of business is English, and since the language of the UK is English also coupled with existing infrastructure,it had given the UK an advantage with in the EU.that other countries do not have.The UK is in many ways the gateway to the EU for most of the world. Leave the EU and you lose that advantage. Sure your language will still be English, but the benefit it affords businesses, is outweighed by the disadvantages of not being part of the EU. Remember, money takes the path of least resistance. So you can say, we did it before and we can do it again, You want to go back to the way you did it before.a reasonable desire,back to the familiar. But that before no longer exists. IMO the benefits of leaving the EU will not even come close to balancing the losses . Pride is a noble attribute, but pride can also be a sin that can cloud our thinking, regardless, of which, it can never fill your belly.

I hope I am wrong.

You have unwittingly, by being a non Brit highlighted 2 areas that caused people to vote to leave the EU.

Business and property.

In addition, those that have no money, are unemployed or are scraping a living on the minimum wage do not really give a sh!t what path money takes or where the Markets go, it has no concern for them.

And leavers do not want to go back anywhere, We want to go forward with a big massive world population of some 7 Billion than be tied to a Union of some 450 Million with its protected markets.

Sorry, what you think you understand and what is reality are light years apart.

It is indeed the ones that are unemployed or are scraping a living on the minimum wage, that should give a shit what path money takes, and should hope it flows their direction.

I dont think Brexit will acomplish this goal for the reasons I stated.

But as you said my understanding could be flawed. And for the sake of all my British friends I hope you are right.

Brexit is an opportunity to achieve great things.

Whether the UK has the correct people in place to achieve great things is another question.

Most things are possible and achievable. It depends how much you want it.

[Basil B]

I'm not currently that concerned with what the markets are doing around the world (it was never going to be doomsday) and anyone who is not tied up in the EU, or not part of some other dictatorial group, are really not qualified to be commenting on why the majority of people in the UK would want to go on their own.

Majority...

Not exactly a large majority, and only counts those who voted, and dose not take account of those who are having second thoughts, but that is how the vote went.

As for the market, the UK FT100 from a very low point last Monday ended up the week higher than at any time in the last 10 months. today a little stagnant, so far.

[Basil B]

The British tech companies are planning to move to California so they have favorable trade with the EU.

The future engine of an economy is technology, engineering and science. They blew it.

Fact or fiction???

Where did you get you facts???

Which companies???

And who in their right mind will want to move to the US with 39% Corporation Tax???

[Diplomatico]

Nigel Farage just resigned as the leader of UKIP.

[Basil B]

Nigel Farage just resigned as the leader of UKIP.

Another Captain jumping ship before it sinks...

[sujoop]

Homer / Farage is a muppet of the lowest order and like BoJo is an opportunist coward who ducks any responsibility in dealing with the results of their 'WIN'. Instead preferring to let others get tainted dealing with the mess they leave behind and then they will re-appear to run again for higher positions after the dust settles.

This is a complete reprehensible farce. Well done Brexiters! 'WINNING' (ala Charlie Sheen...) As Boris said: 'and the punchline you've all been waiting for....'

[JetsetBkk]

Homer / Farage is a muppet of the lowest order and like BoJo is an opportunist coward who ducks any responsibility in dealing with the results of their 'WIN'. Instead preferring to let others get tainted dealing with the mess they leave behind and then they will re-appear to run again for higher positions after the dust settles.

This is a complete reprehensible farce. Well done Brexiters! 'WINNING' (ala Charlie Sheen...) As Boris said: 'and the punchline you've all been waiting for....'

You are so funny.

[dick dasterdly]

The first part of the article is correct - markets have hit pause - but the article then continued with the typical scare-mongering that we have been subjected to for far too long.

Incidentally, a poster on another thread asked a few days ago if any 'News threads' would ever be posted with positive articles about the leave vote?

I'd add to this - 'News thread' articles pointing out that so many news stories turned out to be lies or exaggerations.

I ignored it at the time, thinking the poster was exaggerating - but since then I've done my best to look out for new threads on the other side of the coin (i.e. positive brexit stories/proven lies or exaggerations) and haven't seen any.

[mommysboy]

http://www.independent.co.uk/news/uk/politics/dominic-grieve-brexit-second-eu-referendum-legal-former-attorney-general-says-7119491.html

It is just clear to me that while the result is sound, the Brexiters (and I have become one) did grossly misle the public, went back on pledges straight after the poll, suffered resignations of key proponents, and simply don't know what to do next. They've defeated themselves imo. It is simply not acceptable. Shambolic.

So for me it is not about the result which was clear. It is about public interest. Can't tell you how angry I am. Incompetence or what!

I can live with any result, but not weak, unsound governance.

They should be given one month to deliver on EU free trade deal. That was their pound of flesh, nothing more, nothing less. And if they can't do that the referendum should be binned.

[dick dasterdly]

http://www.independent.co.uk/news/uk/politics/dominic-grieve-brexit-second-eu-referendum-legal-former-attorney-general-says-7119491.html

It is just clear to me that while the result is sound, the Brexiters (and I have become one) did grossly misle the public, went back on pledges straight after the poll, suffered resignations of key proponents, and simply don't know what to do next. They've defeated themselves imo. It is simply not acceptable. Shambolic.

So for me it is not about the result which was clear. It is about public interest. Can't tell you how angry I am. Incompetence or what!

I can live with any result, but not weak, unsound governance.

They should be given one month to deliver on free trade deal. That was their pound of flesh, nothing more, nothing less. And if they can't do that the referendum should be binned.

Of course the brexiteers mislead the public - just as did the remainers! Which is why it was so important for everyone to take into account their own real-life experiences and read the various opinions - with a sceptical eye for the obvious opinions being presented as facts!

It was down to the govt. to come up with the way forward in case of an (undesired) brexit vote - they have all the facts and multitudes of staff, unlike the brexiteers. They didn't bother because they were complacent that 'remain' would win.

[dick dasterdly]

Having said that, I still think Cameron (as a strong proponent of 'remain') was right to quit. A 'leave' campaigner needs to be voted in by the Tory party to carry out the referendum vote to leave the EU, but we can only wait and see how that pans out.

Meanwhile, as the article says, we are all in 'pause' mode.