UK may vote to leave the European Union

Following social media, basically Facebook for this old man, you would think every millennial, liberal, Bernie-bot, Hillary-ton all of a sudden became Michael Lewis.

"You see!!! The markets are COLLAPSING!!! These xenophobic old people!!! They just committed national suicide!!! This is the darkest period in British history!!!!"

Simple question, what are the smart people doing right now? They're buying.

The EU or it's predecessor has been around for 60 years. England, the nation behind the Kingdom/Empire/Commonwealth, has been around for 600 years. They are the 5th largest economy, the financial capital of the world, and they have one of the most powerful armed forces on the planet. There will be adjustments in the short-term, but they survived the Battle of Britain, they'll survive this. They're smart and will figure out the transition. The idea that the UK needs to be part of a union to exist, as if they never heard of the concept of treaties/alliances/partnerships, in the modern world is the sort of idiocy that these liberal automatons fuel themselves on. They're not leaving the Planet, they're leaving the EU after 43 years...people have gotten divorces after longer periods.

Here's one thing I always tell myself before important decisions. In Life, almost always the correct, virtuous, high-character choice is the hard one, the one that requires more of us - not the easy quick decision. Making choices about sovereignty and self-rule on short-term markets/economic hardship - money, is lazy and the misplacing of values.

The liberal reaction on social media is simultaneously overwhelming, entertaining, immature, ungracious, fatalist, ugly, low-information, and not surprising. Old people....yeah - you know those idiots who raised us, paid taxes for decades, and fought in wars to secure our freedom. Those people are worthless.

 

Tex2000, you have this exactly right. And the reaction from the Left is very predictable. They hate the concept of nation states and want to see then deemphasized in favor of elite and relatively unaccountable entities like the EU. Accordingly, they view any assertion of national sovereignty as racist, xenophobic, and whatever other liberal outrage buzz word they can come up with on a given day. Unfortunately young voters in the US and in Britain mostly buy into this simplistic horse crap.

And I have no doubt that if the only thing that matters in the world to you is short term economic gain, then Brexit is probably a bad thing. However, if you believe in controlling your own destiny, which is more important than money, then it is the smartest thing Britain could have done. To hell with these utopian dumb-fucks who don't understand human nature.

 

I see this as not unlike the American states that are currently fighting the ever growing power of the federal government.

Good for the Brits. They've always had balls.

 

And so does the USA. I just hope we find them soon.

 

Anyone ready for Texit?


Grexit.
Departugal.
Italeave.
Fruckoff/Frexit
Czechout.
Oustria.
Finnished.
Slovakout.
Latervia.
Byegium
Luxembark
Split-zerland

 

They were smart enough not to join in the first place. However, they did ratify the Schengen Agreement, so you don't need a passport to enter.

 

Included purely for the fun of it

 

Looking back, perhaps sending Bob Geldof out to abuse struggling fisherman was unwise?

 

Fair enough, and it was clever.

 

Trump already threw trade support to the UK

 

Compare what Trump said^ to what Obama said

He even used the phrases "back of the queue" which is uniquely UK verbage

 

HRC responded to Brexit with "free tampons for everyone!"

 

I am not so sure Scottish Independence will happen. If the EU starts falling apart, there will be nothing for Scotland to join.

Keep us updated @Mr. Deez if anyone else starts leaving. I saw somewhere the dutch may be the next to leave.

 

LOL! Or not. That was a tweet from midday afternoon when the votes were still being tabulated.


Meanwhile, Donald Trump proudly proclaimed that the depreciation of the Pound will be good for business at his golf course.

 

You can follow the anti-immigration movement to determine candidates for leaving the EU. The dutch are high up there.

 

I work for a global tech consulting firm with a large presence in the UK. Our CEO and other executive officers work out of London. 30% of our revenue comes from the EU. I suspect layoffs will be coming soon in response to expected market conditions. Companies will be jittery to make investments in IT projects.

We are US based so that currency conversion will also hit our bottom line as the Sterling and Euro fall in relation to the USD.

 

Did he really say that??

 

Well, she is a deep thinker.

Trump should respond with free Viagra for men. Every man deserves affordable access to male performance products.

 

I watched his presser at his golf course this morning.

He said that it may drive more people to visit his course - implying that was a good thing.

Since his company is a multinational, it most certainly has locked in FX rates with forward swaps months ago per industry best practices to repatriate profits. It's a smart move regadless to hedge FX volatilty...but now looks prohetic given the fall of the pound. The forward contracts probably won't reset until after the market recorrects itself.

 

It was reported that way in one of the early articles I read. Here was the closest I could find an exact quote:

This quote appears that he's not talking about his golf course but rather UK. If the US Dollar quickly devaluated, would anyone in the US think "that's a good thing!"

 

He was asked about the sliding pound as of that moment, and replied that currency fluctuations mean different things. He noted that there are benefits to a lower valuation, such as making exports cheaper. He then gave tourism as an example, pointing out there might be more visitors to places like like where the press conference was being held (the PC was held with the Club as backdrop).

But primarily he said that it's hard to know today what it all means and that it may take 5 years to fully understand it.

 

Milton Friedman was always pessimistic about the EU. Here he is back in 2001

“There is no historical precedent for such an arrangement. It involves each country’s giving up power over its internal monetary policy to an entity not under its political control. Such a system has economic advantages and disadvantages, but I believe that its real Achilles heel will prove to be political; that a system under which the political and currency boundaries do not match is bound to prove unstable.”

“A flexible exchange rate would enable each of them to have the appropriate monetary policy. With a unified currency, they cannot. The alternative adjustment mechanisms are changes in internal prices and wages, movement of people and of capital. These are severely limited by differences in culture and by extensive government regulations, differing from country to country. If the residual flexibility is enough, or if the existence of the euro induces a major increase in flexibility, the euro will prosper. If not, as I fear is likely to be the case, over time, as the members of the euro experience a flow of asynchronous shocks, economic difficulties will emerge. Different governments will be subject to very different political pressures and these are bound to create political conflict, from which the European Central Bank cannot escape.”

http://www.forbes.com/sites/jerrybo...isis-is-your-latest-vindication/#4aa58ab542c7

 

I see some elected officials in France Italy and Denmark are calling for referendums to leave.
JoeFan You should TM those and sign up domain names. money to be made

 

http://www.news.com.au/finance/econ...s/news-story/a183385d5b505e19450801937a3b12b5

For some strange reason, Australians seem to think Brexit means Texit is happening. This is news to me.

 

They have a built-in excuse, it's Friday Night there, already drunk.

 

JF
That may be the Onion but that is not satire.