A week after British vote, markets take stock

[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 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.

But in this instance the public have been seriously misled.

I guess my argument is what in business is called 'frustration'. Quite simply that a set of circumstances comes about that renders a contract null and void. As a pragmatist, and businessman I have to be concerned about what is or isn't financially viable. Over the course of the last week or so I am convinced the Brexiters have a fair point, but the circumstances are such that an exit is not really on at the present time without national interest, specifically the economy.

[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.

But in this instance the public have been seriously misled.

I guess my argument is what in business is called 'frustration'. Quite simply that a set of circumstances comes about that renders a contract null and void. As a pragmatist, and businessman I have to be concerned about what is or isn't financially viable. Over the course of the last week or so I am convinced the Brexiters have a fair point, but the circumstances are such that an exit is not really on at the present time without national interest, specifically the economy.

You disagree that the public were misled by both sides?

Both sides lied (IMO) but the voting electorate came to their own conclusions.

Its a bit of a stretch to say that as both sides mislead the electorate the referendum should be null and void (i.e. dismissed)!

[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 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.

But in this instance the public have been seriously misled.

I guess my argument is what in business is called 'frustration'. Quite simply that a set of circumstances comes about that renders a contract null and void. As a pragmatist, and businessman I have to be concerned about what is or isn't financially viable. Over the course of the last week or so I am convinced the Brexiters have a fair point, but the circumstances are such that an exit is not really on at the present time without national interest, specifically the economy.

You disagree that the public were misled by both sides?

Both sides lied (IMO) but the voting electorate came to their own conclusions.

Its a bit of a stretch to say that as both sides mislead the electorate the referendum should be null and void (i.e. dismissed)!

It is not about who lied more- all politicians lie, and I have little time for them, other than being a necessary evil.

Yes, I believe the referendum in totality has now been brought in to disrepute. Even then no big deal. We run it again, after a cooling off period.

You bake a cake. Nobody wants to eat it. Not even the cook wants a bite! You throw the ruddy thing away.

[Usernames]

It's burning. Bursting into flames. And it's falling on the mooring. This is terrible! This is one of the worst catastrophes in the world! It's a terrific crash. The smoke and the flames. Oh, the bureaucracy.

[dick dasterdly]

Except I think (but obviously don't know) that the vast majority of brexiteers are quite happy to continue with brexit. Despite the continuing scare stories, they can see that life is continuing as usual now - especially now that the markets have hit 'pause'.

Always opinion of course, but I suspect that if the referendum is disregarded and another referendum imposed - even some of the remainers will consider this a democratic loss too far, and vote to leave. During general elections, the parties have lied time and time again - but the result was never called into question.

But its irrelevant - both sides misled about various things. The electorate made up their own mind and voted accordingly.

Trying to call for another referendum - or legal decision to ignore the referendum - can only be construed as a challenge to democracy.

[SgtRock]

All those that are screaming about markets and financial passports and the ensuing armageddon.

Why do you think this is happening ?

LSE and Deutsche Börse say proposed merger can withstand Brexit

https://www.theguardian.com/business/2016/jul/04/lse-shareholders-expected-to-back-deutsche-borse-merger-london-stock-exchange

[mommysboy]

Nobody wants to set sail on a rickety ship, without a captain, and where the destination is not known.

I dare say business will have its sway, which is a shame imo because I believe the cause to be good. but sheer incompetence has ruined this vote.

The thing can't be done without severe repercussions imo.

Quite simply the Brexiters have not got their act together. Shambolic. That is my argument. One obvious failing that comes through is lack of business acumen.

I don't care much who won or lost. I do care about UK.

[up2u2]

All looking good so far. The Brexit Vote seems to be a real winner lol

Pound Devalued, AAA Credit rating gone (VERY hard to get back by the way), stock market crash.

Far Right Wing racist loons strike again and do a runner.

Is the rumor correct that Boris and Nigel are holed up with Julian Assange in the Ecuadorian Embassy? lol

[dick dasterdly]

Nobody wants to set sail on a rickety ship, without a captain, and where the destination is not known.

I dare say business will have its sway, which is a shame imo because I believe the cause to be good. but sheer incompetence has ruined this vote.

The thing can't be done without severe repercussions imo.

Quite simply the Brexiters have not got their act together. Shambolic. That is my argument. One obvious failing that comes through is lack of business acumen.

I don't care much who won or lost. I do care about UK.

Depends on who is elected as the new PM, and what happens thereafter.

The govt. (and civil service) have plenty of time to come up with the best plan possible to carry out the reforms required by the majority of the electorate.

Obviously the plan will change according to what happens within the EU. Somehow I doubt that they will ever reconsider the WAY overly generous salaries and paying money to the already rich....

[Rancid]

So markets crashed with the Brexit vote and have now largely recovered, what a surprise, traders winning and losing. The pound has fallen, which although bad for expats, is probably good for UK competitiveness. So what happened to the day of reckoning forecasts? In the long term the UK will be vary glad they got out of that bureaucratic dystopia.

[dick dasterdly]

All looking good so far. The Brexit Vote seems to be a real winner lol

Pound Devalued, AAA Credit rating gone (VERY hard to get back by the way), stock market crash.

Far Right Wing racist loons strike again and do a runner.

Is the rumor correct that Boris and Nigel are holed up with Julian Assange in the Ecuadorian Embassy? lol

Markets have settled (or are on pause as per the OP).

Cameron has done a runner, as has Farage (for different reasons I suspect).

Joking about Boris/Nigel (and Cameron) in the same breath as Assange is far from funny IMO.

[up2u2]

All looking good so far. The Brexit Vote seems to be a real winner lol

Pound Devalued, AAA Credit rating gone (VERY hard to get back by the way), stock market crash.

Far Right Wing racist loons strike again and do a runner.

Is the rumor correct that Boris and Nigel are holed up with Julian Assange in the Ecuadorian Embassy? lol

Markets have settled (or are on pause as per the OP).

Cameron has done a runner, as has Farage (for different reasons I suspect).

Joking about Boris/Nigel (and Cameron) in the same breath as Assange is far from funny IMO.

True Jillian is far more ethical than these deceitful liars. He wouldn't be caught dead with any of them. Traded his freedom to expose them all.

It doesn't go unnoticed that the advocates of the 'Leave' vote have all headed for the hills. Murdoch supports the 'Leave' camp. 'Red Flag' don't come any bigger than him involved.

[dick dasterdly]

All looking good so far. The Brexit Vote seems to be a real winner lol

Pound Devalued, AAA Credit rating gone (VERY hard to get back by the way), stock market crash.

Far Right Wing racist loons strike again and do a runner.

Is the rumor correct that Boris and Nigel are holed up with Julian Assange in the Ecuadorian Embassy? lol

Markets have settled (or are on pause as per the OP).

Cameron has done a runner, as has Farage (for different reasons I suspect).

Joking about Boris/Nigel (and Cameron) in the same breath as Assange is far from funny IMO.

True Jillian is far more ethical than these deceitful liars. He wouldn't be caught dead with any of them. Traded his freedom to expose them all.

It doesn't go unnoticed that the advocates of the 'Leave' vote have all headed for the hills. Murdoch supports the 'Leave' camp. 'Red Flag' don't come any bigger than him involved.

I'd 'like' your post, except Cameron has done the same.

If there's one thing of which I've no doubt - its that they've all resigned for different reasons.

But that's good. Let's face it the 'leave' voters certainly don't want Cameron in charge and many of them aren't overly impressed with Boris.

Farage? He eventually forced a referendum (along with other in-fighting in the tory party).

[ilostmypassword]

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???

The effective corporate tax rate in the USA, the one that corporations actually pay. is about the same as in the EU. In fact, if you include financial accounting in the mix, it's probably less.

http://www.forbes.com/sites/taxanalysts/2015/03/25/the-truth-about-corporate-tax-rates/#592d0ff820a5

[ilostmypassword]

The pound hit a new record low today.

http://www.xe.com/currencycharts/?from=GBP&to=USD&view=1W

[Asiantravel]

Yesterday major London based property fund Standard Life closed its doors and froze its assets due to being suddenly overwhelmed with redemptions or to put it their way “ a lack of immediate liquidity “

today there is another domino with UK’ AVIVA property fund doing the same thing.

Buckle up for a bumpy ride

[mommysboy]

So markets crashed with the Brexit vote and have now largely recovered, what a surprise, traders winning and losing. The pound has fallen, which although bad for expats, is probably good for UK competitiveness. So what happened to the day of reckoning forecasts? In the long term the UK will be vary glad they got out of that bureaucratic dystopia.

The markets and exchange rate, and ratings are not the real economy. Already there has been a marked reduction in inward investment. Businesses plan 2-3 years in advance and it's an old cliche but they hate uncertainty. Look I've no doubt UK will survive, and I don't believe EU is anything other than a collapse waiting to happen, but no doubt there is a recession on the way (again). I suppose the economic strife ahead is survivable, but I'd have thought we all needed a few years of stability and growth before embarking on the severe challenge that lays ahead. Rank poor timing. There's a clever way of doing things and a dumb way.

Really much of this is about failing global markets, and inequality of wealth. The welfare system is unsustainable in the UK long term. I've been through a few years of declining fortunes myself. I can tell you it's a real bummer. When the business goes, it goes. There isn't much you can do other than suffer.

[mommysboy]

Yesterday major London based property fund Standard Life closed its doors and froze its assets due to being suddenly overwhelmed with redemptions or to put it their way “ a lack of immediate liquidity “

today there is another domino with UK’ AVIVA property fund doing the same thing.

Buckle up for a bumpy ride

In truth these are fairly minor events.

[scubascuba3]

Yesterday major London based property fund Standard Life closed its doors and froze its assets due to being suddenly overwhelmed with redemptions or to put it their way “ a lack of immediate liquidity “

today there is another domino with UK’ AVIVA property fund doing the same thing.

Buckle up for a bumpy ride

In truth these are fairly minor events.

Yep, I'm guessing these type of funds have direct property which isn't easy to sell quickly unlike if they held property company shares, so its quite standard to have these terms that the Fund can be suspended.

[mommysboy]

Also likely to go in to exit with the majority of voters wanting to remain:

http://www.independent.co.uk/news/uk/politics/wales-has-changed-its-mind-over-brexit-and-would-now-vote-to-stay-in-the-eu-poll-finds-a7120246.html

[Scott]

A post that contravenes Fair Use Policy has been removed and numerous replies. Please only post the first 3 sentences of an article and a link to the source.

[MissAndry]

Also likely to go in to exit with the majority of voters wanting to remain:

http://www.independent.co.uk/news/uk/politics/wales-has-changed-its-mind-over-brexit-and-would-now-vote-to-stay-in-the-eu-poll-finds-a7120246.html

Before the vote, all the lefty media polls predicted Brexit would lose.

After the vote, all the lefty media polls predict a new Brexit referendum would lose.

At least the lefties bogus polls are consistent, if only they could convince all the stupid voters to vote the way they want.

[ilostmypassword]

Also likely to go in to exit with the majority of voters wanting to remain:

http://www.independent.co.uk/news/uk/politics/wales-has-changed-its-mind-over-brexit-and-would-now-vote-to-stay-in-the-eu-poll-finds-a7120246.html

Before the vote, all the lefty media polls predicted Brexit would lose.

After the vote, all the lefty media polls predict a new Brexit referendum would lose.

At least the lefties bogus polls are consistent, if only they could convince all the stupid voters to vote the way they want.

This is false. At the end the polls were fifty-fifty. http://www.bloomberg.com/graphics/2016-brexit-watch/

It's pundits who were saying that Brexit was going to lose.