UK - in or out of the EU? Travel Issues?

[whatmeworry]

Re: UK - in or out of the EU?

Two Ratings agencies downgrade UK credit rating after Brexit vote and the pound is in freefall.

The UK has lost its top AAA credit rating from ratings agency S&P following the country's Brexit vote.
S&P said the the referendum result could lead to "a deterioration of the UK's economic performance, including its large financial services sector".
Rival agency Fitch lowered its rating from AA+ to AA, forecasting an "abrupt slowdown" in growth in the short-term.

Meanwhile part of this Last week with John Olivier episode couldn't be aired in the UK because of the brexit.

[video=youtube_share;iAgKHSNqxa8]https://youtu.be/iAgKHSNqxa8[/video]

 

[RooFlyer]

Re: UK - in or out of the EU?

Two Ratings agencies downgrade UK credit rating after Brexit vote and the pound is in freefall.
<snip>

Freefall? That's the type of hyperbolic tosh we've heard too much of since the vote. Sure, the pound plunged after the result was known (mainly, I suggest because the [-]w[/-]bankers had laid bets the other way and had to urgently unwind them). Here's the past day:

 

[Mal]

Re: UK - in or out of the EU?

And now with Iceland beating England at soccer - mmm - horribilus.

Not for me! I had serious coin on the Brexit with the bookies, and had a lowish bet for Iceland winning the football... My only two bets with bookies in the last 12 months thereabouts have rolled in my favour....

 

[whatmeworry]

Re: UK - in or out of the EU?

John Oliver this week on the Brexit.

[video=youtube;-Ikd7A2VuHs]https://www.youtube.com/watch?v=-Ikd7A2VuHs[/video]

 

[Pushka]

Re: UK - in or out of the EU?

Not for me! I had serious coin on the Brexit with the bookies, and had a lowish bet for Iceland winning the football... My only two bets with bookies in the last 12 months thereabouts have rolled in my favour....

So that explains some of your enthusiasm for the result then. A bet?

DJIA down another 1.5%.

 

[vetrade]

Re: UK - in or out of the EU?

Freefall? That's the type of hyperbolic tosh we've heard too much of since the vote. Sure, the pound plunged after the result was known (mainly, I suggest because the [-]w[/-]bankers had laid bets the other way and had to urgently unwind them). Here's the past day:

Yeah, FTSE only down 250 points from what it was a month ago. Don't hear anyone saying the US is in freefall despite the S&P500 being down more in % terms than the FTSE over the last 5 days. The GBP will recover despite the prophets of doom talking it, and the UK generally, down. It's a self-fulfilling prophesy for them. Some ppl seem to be getting masochistic pleasure out of it all but alas, I feel their enjoyment will be short-lived.

 

[whatmeworry]

Re: UK - in or out of the EU?

Meanwhile Neil Farage back pedalling on Brexit claims the 350 million pounds sent to the EU would go back into the NHS.

Host: "The 350 million pounds ($633 million) a week that we send to the EU, which we will no longer send to the EU, can you guarantee that's going to go to the NHS [Britain's National Health Service]?"
Farage: "No, I can't, and I would never have made that claim. It is one of the mistakes that, I think, the 'leave' campaign made."

Read more: Brexit leaders are walking back some of their biggest promises
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[Mal]

Re: UK - in or out of the EU?

So that explains some of your enthusiasm for the result then. A bet?

DJIA down another 1.5%.

Go back to the first post in this thread. That explains most of my views (but scroll down a few more posts and you'll see more reasoning). My bets were only laid around a week ago when I realised I should be putting my money where my mouth was.. Worked out well for me, worked out well for colleagues who took my advice (Betting got to 10-1 in the UK for a couple of hours on the Thursday). I'm no betting expert, but when odds are 10-1 for a Brexit, and there are only Two options (remain or leave), with a finicky public, it's a very good bet (should only have been 3-1)

 

[Warks]

Re: UK - in or out of the EU?

I totally disagree. Barack Obama was the worst example of "just for fun". He was voted in because he was black. Full stop. And what a disaster he has inflicted upon the world.

Unlike George W Bush, the saviour of humanity.

 

[eastwest101]

Re: UK - in or out of the EU?

Two Ratings agencies downgrade UK credit SNIP

From AAA to AA - whoop de do! And a lot of people would argue that since the GFC that the big 3 ratings agencies have a pretty poor record of accurately evaluating their own lunch money, let alone make broad generalized assumption about the banking systems of entire countries. AAA rated mortgage backed securities anyone?

"Standards Very Poor" is something I remember another poster made in regard to some ratings agencies.

As others have also pointed out - the devaluation of the British Pound will also assist trade and has made the UK a cheaper place to do business for the rest of the world. Thank god they also kept their own currency which now provides a natural shock absorber to situations such as this.

Despite some peoples dire predictions of plague, pestilence, raining frogs, and dogs living in peace with cats - people will still get up and go to work and import and export stuff out of the UK, people will still visit the UK and sure there may be some (in some cases uncomfortable) adjustments both in the EU and in the UK but I think the British will find a way through to continue to be a relatively powerful and prosperous country for its small size (just like it was before it joined the EU).

 

[drron]

Re: UK - in or out of the EU?

Two Ratings agencies downgrade UK credit rating after Brexit vote and the pound is in freefall.




Meanwhile part of this Last week with John Olivier episode couldn't be aired in the UK because of the brexit.

If it is so bad economically for the UK then why on Friday did the UK stockmarket close down 3.15% but the Italian 14.5%,Spain 12.4% and France 8.0%.
Markets seem to be saying it will be worse for Europe.
In truth nobody has the answer.

 

[JohnK]

Re: UK - in or out of the EU?

"Leave" would still win, JohnK. Remain would gain 7% of the 52% who voted Leave (not 7% of all who voted) but would lose 4% of their 48% and vice versa for the Leave vote.

So the revised figures would be 50.28% Leave and 49.72% Remain

Of course you are right. My calculation was just too simple.

 

[whatmeworry]

Re: UK - in or out of the EU?

If it is so bad economically for the UK then why on Friday did the UK stockmarket close down 3.15% but the Italian 14.5%,Spain 12.4% and France 8.0%.
Markets seem to be saying it will be worse for Europe.
In truth nobody has the answer.

Europe betted hard on remain.

 

[drron]

Re: UK - in or out of the EU?

Europe betted hard on remain.

As did the world.

 

[Milefest]

Re: UK - in or out of the EU?

I guess this is one of the strengths of compulsory voting we have in Australia.

If the referendum were compulsary, they would have received a more accurate consensus and representation of age groups that didn't vote that wanted to remain.

 

[Pushka]

Re: UK - in or out of the EU?

Unlike George W Bush, the saviour of humanity.

There really have been some extraordinarily ordinary performances from all persuasions in recent history.

 

[Warks]

Re: UK - in or out of the EU?

There was a sketch on Not The Nine o'Clock News back in about 1980 with Rowan Atkinson as a Frenchman (in a beret of course) detailing the amount each of the countries (probably only 7 back then) contributed to the EEC. The joke was all the other countries contributed piddling amounts ("Ireland: two hats") and Britain contributed a staggering amount. He then asked why and answered "because everyone HATES Britain!".

Wish I could find it! There's lots on Youtube but they are whole shows and I haven't had time to find the sketch.

 

[kelvedon]

Re: UK - in or out of the EU?

Not for me! I had serious coin on the Brexit with the bookies, and had a lowish bet for Iceland winning the football... My only two bets with bookies in the last 12 months thereabouts have rolled in my favour....

So Mal will be sitting in F on his next trip back downunder?

 

[andye]

Re: UK - in or out of the EU?

If it is so bad economically for the UK then why on Friday did the UK stockmarket close down 3.15% but the Italian 14.5%,Spain 12.4% and France 8.0%.
Markets seem to be saying it will be worse for Europe.
In truth nobody has the answer.

This is one of the reasons, despite strong sympathy for the sovereignty issue, I would have voted Remain (if I had felt that it was fair for me to make decisions that only marginally affect me)
Economics is not a zero-sum game and to my mind, the world's economy will be worse off with a fractured Europe
Having said that, talk of repeating referenda is profoundly antidemocratic and reminds me of sulking children- Britain needs make the best of it and I suspect they will

 

[alieninperth]

Re: UK - in or out of the EU?

Meanwhile Neil Farage back pedalling on Brexit claims the 350 million pounds sent to the EU would go back into the NHS.



View attachment 73958

Was always going to happen, the symbolism would help if it was farage in the picture through, Pretty sure that Ian(I)n Duncan Smith.