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Game Thread: It has come to this - UK votes to leave the EU

2003TIDE

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Re: It has come to this - Brexit voting later today in the UK...

92tide said:
yeah, it'll be interesting to see how this shakes out. i imagine that markets will over-react in the short term
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I'm not too worried about it. I'm more of a buy and hold guy. I agree with Buffett when he say buyers should be excited when the market declines.
 
selmaborntidefan

selmaborntidefan

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Re: It has come to this - Brexit voting later today in the UK...

I knew it was for sure over when our resident Aubie was declaring it over even though there was still time on the clock.
 
Crimson1967

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Re: It has come to this - Brexit voting later today in the UK...

A Facebook friend who regularly shares anti-Trump pages (but oddly has never posted a word supporting Clinton or Sanders) posted a Huff Post page whining about it. It was blaming old people for overriding the youngsters opinions and how London wanted to stay.


Sent from my iPhone using Tapatalk
 
92tide

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Re: It has come to this - Brexit voting later today in the UK...

AUDub said:
Did the UK markets even open today? I heard rumors that they might not.
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im not sure, i did see where japan suspended some trading. on cnn, it shows the ftse as open and down 3 1/2 %

you could probably take a cheap summer trip to london :)
 
crimsonaudio

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Re: It has come to this - Brexit voting later today in the UK...

XE Market Analysis: North America - Jun 24, 2016
Currency markets settled in a confused stasis after the dramatic moves during the Asian session as the reality of Brexit became increasingly apparent. Cable was sitting with a 7.8% net loss on the day, at 1.3700 as of the early European PM session, having shown a record-breaking 11% decline at the 1.3231 intraday low. GBP-JPY was also off is lows, but it still showing a net 11.4% decline. EUR-USD, meanwhile, was off by 2.2% and EUR-CHF was 0.5% for the worse, despite confirmed SNB intervention. Commodity and other high beta currencies, along with European currencies, have been the ex-sterling currency underperformers today. AUD-USD lost 3% and USD-CAD gain by over 2%. European currencies have also taken a beating, with the Norwegian and Swedish crowns and eastern European currencies all underperforming the euro, which itself is notably underperforming the other G3 currencies, with the yen and the dollar the Brexit safe haven currencies of choice.

[EUR, USD]
EUR-USD plummeted from levels above 1.1400 to a three-month low of 1.0911 before recouping to the upper 110s. The euro is set to remain an underperformer in forex markets amid post-Brexit concerns about the broader euro project. Resistance is at 1.1098-1.1100.

[GBP, USD]
Sterling saw record-breaking losses as the UK opted for Brexit. Uncertainty now prevails. Will there be a general election (less than 200 of the 650 members of parliament supported Brexit)? Will Scotland and Northern Ireland vote to leave the UK (both having voted to remain part of the single market? What happens to investment, consumer spending etc during a "transition" period that could be more than two years? How long before the ratings agencies chop the UK's triple A status (S&P and Moody's issued informal warnings today)? What implications with this have on the broader European Project? Brexiters will celebrate their victory, but the near- to-medium term economic future is not looking bright for the UK. Risk-off positioning is likely to dominate for the foreseeable, with sterling to remain firmly under the cosh.
 
2003TIDE

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Re: It has come to this - Brexit voting later today in the UK...

On a positive note, anyone been wanting to travel to the UK? Now's the time with the exchange rate.
 
92tide

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CharminTide

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Re: It has come to this - Brexit voting later today in the UK...

Crimson1967 said:
A Facebook friend who regularly shares anti-Trump pages (but oddly has never posted a word supporting Clinton or Sanders) posted a Huff Post page whining about it. It was blaming old people for overriding the youngsters opinions and how London wanted to stay.
Click to expand...
Well, there was a huge age disparity. The younger generation overwhelmingly voted to remain in the EU, while the older generation voted to leave. And there is resentment stemming from this generational divide.

As written by a random British young person:
A quick note on the first three tragedies. Firstly, it was the working classes who voted for us to leave because they were economically disregarded, and it is they who will suffer the most in the short term. They have merely swapped one distant and unreachable elite for another.

Secondly, the younger generation has lost the right to live and work in 27 other countries. We will never know the full extent of the lost opportunities, friendships, marriages and experiences we will be denied. Freedom of movement was taken away by our parents, uncles, and grandparents in a parting blow to a generation that was already drowning in the debts of our predecessors.

Thirdly and perhaps most significantly, we now live in a post-factual democracy. When the facts met the myths they were as useless as bullets bouncing off the bodies of aliens in a HG Wells novel. When Michael Gove said, ‘The British people are sick of experts,’ he was right. But can anybody tell me the last time a prevailing culture of anti-intellectualism has led to anything other than bigotry?
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selmaborntidefan

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Re: It has come to this - Brexit voting later today in the UK...

Crimson1967 said:
A Facebook friend who regularly shares anti-Trump pages (but oddly has never posted a word supporting Clinton or Sanders) posted a Huff Post page whining about it. It was blaming old people for overriding the youngsters opinions and how London wanted to stay.


Sent from my iPhone using Tapatalk
Click to expand...
So Huffington Post doesn't like democracy. Got it. (Hell, I already knew that but anyway).

It got on the ballot. It basically got the same percentage of the vote as Obama's 'mandate' in 2008 did. They SHOULD be applauding people exercising their rights of self-determination. But I forgot - the way ideologues (both left and right work) is that you should only have the right to vote if you're gonna do what they want.

I have no earthly idea whether this is good or bad. I don't know enough about the facts. But a liberal friend of mine who thinks she's a conservative now resides in Holland and posted a complaint from some recent graduate student over there. What I found funny was what the whole complaint was REALLY about when you got down to it - was 'if this happens I this, I that.' The complaint was about how it was going to affect this particular individual.

But doesn't that cut two ways?
 
selmaborntidefan

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Re: It has come to this - Brexit voting later today in the UK...

CharminTide said:
Well, there was a huge age disparity. Younger generation overwhelmingly voted to remain in the EU, while the older generation voted to leave. And there is resentment stemming from this generational divide.

As written by a random British young person:
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So what? (I'm always amused by the argument that people who don't even remember to put the clothes into the dryer from the washer are somehow always smarter than people who have been around 30-40 or more years).

And if anyone wants to talk myths, I see your 'bigotry' argument and raise it 'this passes and you get to keep your own doctor,' not that anyone anywhere would ever actually say a lie like that.
 
selmaborntidefan

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Re: It has come to this - Brexit voting later today in the UK...

Damn, Trump goes to the UK and it breaks up. Imagine what he could do as President!!
 
CharminTide

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Re: It has come to this - Brexit voting later today in the UK...

92tide said:
i wonder if there is going to be some buyer's remorse over the next little while as the effects of the vote ripple through. sort of like the dog that actually catches the car ;)
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I wonder if the vote would turn out the same way if it were held again next week. From interviews, there were a lot of complacent people in the UK who are showing genuine surprise at the results.
 
selmaborntidefan

selmaborntidefan

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Re: It has come to this - Brexit voting later today in the UK...

AUDub said:
Hah! Nah, it was a done deal when Birmingham announced though. Really no coming back from that.
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That's even funnier given an Iron Bowl context.....well, it would have been 25 years ago.....

(I just knew some of y'all were waiting on a Ricardo Louis to bail out the 'Stay' folks).
 
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