Brexit

[Spirit]

Why do I feel like Britain just shot themselves in the dick.

 

 

[red321]

Holy cow...I thought it was going to be close but they'd stay...early returns are showing they might leave. If so I would agree...they are chopping off their spotted dick

[Spirit]

Thanks for correcting me.  I forgot to add "spotted."

 

 

 

[Jay]

BUY THE DIP

[AngelsLakersFan]

Good luck to everyone playing the forex markets today

[InsideThePark]

The pound has already taken a hit and they're still counting votes lol.

Apparently there are comparisons between the brexit movement and Trump in terms of the type of voters they attract. A lot of the uneducated, white nationalists want to leave the European Union even with all the uncertainty that lies ahead. They're ballsy - I'll give them that.

[gotbeer]

I don't know  I think it's a good thing they leave.  It's not like they ever adopted the Euro.  And a third of the EU is at or near bankruptcy and waiting for the rich countries to bail them out.  Plus you have the refugee crisis.

Plus Trump wanted them to leave.  So you got the entertainment factor.

[Jay]

1 minute ago, InsideThePark said:

The pound has already taken a hit and they're still counting votes lol.

Apparently there are comparisons between the brexit movement and Trump in terms of the type of voters they attract. A lot of the uneducated, white nationalists want to leave the European Union even with all the uncertainty that lies ahead. They're ballsy - I'll give them that.

A big part of it is a protest against immigration problems.

[InsideThePark]

7 minutes ago, Jay said:

A big part of it is a protest against immigration problems.

 Absolutely. I don't think it's smart to absorb the financial hit that comes with it but this is how democracy works.

[wopphil]

What does this mean? What are the implications? Can those of us who pay little attention to world affairs get a Cliff Notes version? Would this be the equivalent of Irvine leaving Orange County?

[Jay]

Next comes the finger-pointing

[AngelsLakersFan]

3 minutes ago, wopphil said:

What does this mean? What are the implications? Can those of us who pay little attention to world affairs get a Cliff Notes version? Would this be the equivalent of Irvine leaving Orange County?

I think it's probably more akin to New York leaving the USA. 

[Adam]

They're confident they will rebound relatively quickly from the economic implications 

[Jay]

1 minute ago, AngelsLakersFan said:

I think it's probably more akin to New York leaving the USA. 

Interesting take...

Anyway I'm watching the coverage on CNBC World, which is a network I regularly watch anyway. The media are in full panic mode. 

[nate]

3 minutes ago, wopphil said:

What does this mean? What are the implications? Can those of us who pay little attention to world affairs get a Cliff Notes version? Would this be the equivalent of Irvine leaving Orange County?

EU essentially has free trade between all countries that are members.  People can also visit the countries without visas. 

 

Problem em is the EU has a lot of power over the economies of the countries involved and a lot of them are struggling economically so what is best for them isn't always best for the UK. 

 

They em also set some immigration rules.  Honestly the UK was doing quite a bit of propping up the EU I understand why they want to leave.  Still economists suggested it would be worse for them to leave which is why the pound is down 10%.

 

they now have two years to negotiate an exit from the EU.  It will be interesting to see how it all unfolds. Immediately the pound is weaker which hurts them when it comes to trade. 

[wopphil]

6 minutes ago, AngelsLakersFan said:

I think it's probably more akin to New York leaving the USA. 

Funny, that was my initial analogy.  But I thought "Irvine leaving the O.C." would make me sound more ignorant.

[wopphil]

4 minutes ago, nate said:

EU essentially has free trade between all countries that are members.  People can also visit the countries without visas. 

 

Problem em is the EU has a lot of power over the economies of the countries involved and a lot of them are struggling economically so what is best for them isn't always best for the UK. 

 

They em also set some immigration rules.  Honestly the UK was doing quite a bit of propping up the EU I understand why they want to leave.  Still economists suggested it would be worse for them to leave which is why the pound is down 10%.

 

they now have two years to negotiate an exit from the EU.  It will be interesting to see how it all unfolds. Immediately the pound is weaker which hurts them when it comes to trade. 

Thanks Nate. It doesn't really sound like that big of a deal.

[AngelsLakersFan]

There are a lot of similarities between the the early United States and the European Union. There are disagreements over the way things are done, and states give up a lot of local control but the effect is that as a larger group you are stronger economically and more influential on the global stage when you stick together.

[Jay]

The concern also is that it will create a domino effect where other EU countries will also opt out, eventually leading to a complete collapse.

[AngelsLakersFan]

Just now, Jay said:

The concern also is that it will create a domino effect where other EU countries will also opt out, eventually leading to a complete collapse.

Ya, it could end up being a lot worse for the EU than Britain. Britain's economy will be fine in the long run, but who is going to pay for these brain dead failing economies in the EU? Of course if the entire EU ended up dissolving then you'd see huge turmoil in Europe.

[InsideThePark]

A lot of speculation that David Cameron won't survive this and will eventually have to resign. The Brits are definitely shaking things up.

[Jay]

The government thought they could manipulate the public but they failed and there will be a price to be paid.

 

[AngelsLakersFan]

4 minutes ago, InsideThePark said:

A lot of speculation that David Cameron won't survive this and will eventually have to resign. The Brits are definitely shaking things up.

I read that Cameron was the one who initially proposed the idea as a way to get leverage over the EU. The idea caught on and he lost control of it.

[Jay]

1 minute ago, AngelsLakersFan said:

I read that Cameron was the one who initially proposed the idea as a way to get leverage over the EU. The idea caught on and he lost control of it.

Not sure of all the timing but recent events including the terrorist attacks, Syrian refugees, etc. may have precipitated his loss of control.

[Jay]

This could signal a political shift in the U.S. as well.