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QUOTE (bmags @ Jun 24, 2016 -> 06:41 AM)
People take stable government for granted. For everyone that hates the "x would be worse" arguments, now you'll get to see how true they re.

 

British pound devalued, and they just left the one of the largest trade markets in the world.

 

It kills me that it's driven by older voters too. Burning the world down for their children from immigration scare mongering. Never fails.

Thats exactly whats happening. 2016 looks to be the worst political year in our lifetime at the moment. We are all going to s***.

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Our system prevents any one person from destroying us. Checks and balances and all. As long as "his party" stands up to his crazier ideas we'll be fine. This is one reason I like having Congress controlled by a different party than the White House. Something we always seem to do during mid term elections. We benefit when we employ the best of both party platforms.

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QUOTE (RockRaines @ Jun 24, 2016 -> 06:10 AM)
Thats exactly whats happening. 2016 looks to be the worst political year in our lifetime at the moment. We are all going to s***.
I'd be more concerned about the election here if our voter demographics matched theirs
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QUOTE (Tex @ Jun 24, 2016 -> 07:21 AM)
Our system prevents any one person from destroying us. Checks and balances and all. As long as "his party" stands up to his crazier ideas we'll be fine. This is one reason I like having Congress controlled by a different party than the White House. Something we always seem to do during mid term elections. We benefit when we employ the best of both party platforms.

Except when you talk about nuclear weapons

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QUOTE (Tex @ Jun 24, 2016 -> 07:21 AM)
Our system prevents any one person from destroying us. Checks and balances and all. As long as "his party" stands up to his crazier ideas we'll be fine. This is one reason I like having Congress controlled by a different party than the White House. Something we always seem to do during mid term elections. We benefit when we employ the best of both party platforms.

But then our government literally does nothing. Im not sure that was the design either.

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QUOTE (RockRaines @ Jun 24, 2016 -> 07:33 AM)
But then our government literally does nothing. Im not sure that was the design either.

 

Actually we continue to do what we should. Defend the country, deliver mail, fix roads, send out SS checks, enforce existing laws . . .

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QUOTE (RockRaines @ Jun 24, 2016 -> 06:33 AM)
But then our government literally does nothing. Im not sure that was the design either.

Yeah, that's a weird argument to make given recent history and one party being increasingly radical. The president can't even fill nominations these days.

 

In Britain, Cameron called this referendum in an attempt to put to bed an old split within his own party.

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Ukip already walking back their nhs funding pledge.

 

Morgan Stanley relocating a couple thousand employees out of London.

 

One thing I've learned in the past couple of days is how heavily the British economy is weighted towards the financial sector. Interesting to see what this does now that they've closed themselves off from the largest trade union in the world.

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QUOTE (Tex @ Jun 24, 2016 -> 07:58 AM)
Now this will be interesting.

Yes. I think in the long run the Brexit will be fine. If Scotland leaves the UK, that cold cause some interesting problems.

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QUOTE (JenksIsMyHero @ Jun 24, 2016 -> 07:53 AM)
Reading that a lot of the sell off today is due to the run up to the vote, which was expected to be that the UK was staying. Not to say this won't have a negative impact. Obviously it did/does/will.

There's already talk of their bond rating being lowered

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QUOTE (pettie4sox @ Jun 24, 2016 -> 08:42 AM)
Did people think, "Pfffftttt, this couldn't possibly happen!", the same way people think Trump has no chance as the presidency?

 

I think so. Cameron agreed to have this referendum when campaigning, because he didn't believe it would actually get voted in. Speaking of Trump, guess who happened to be in the UK today. It's still surreal to me that he is actually a legit presidential candidate and his thoughts are presented seriously.

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I'm not surprised at Sinn Fein calling for a referendum for a united Ireland; a united Ireland in my life time would be something to behold; There has also been a run on RI passports and it will become even more pronounced now as NI's want to remain in the EU.

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QUOTE (LittleHurt05 @ Jun 24, 2016 -> 08:00 AM)
I think so. Cameron agreed to have this referendum when campaigning, because he didn't believe it would actually get voted in. Speaking of Trump, guess who happened to be in the UK today. It's still surreal to me that he is actually a legit presidential candidate and his thoughts are presented seriously.

He's in Scotland though. They hate him there anyway, and they voted strongly in favor of remain.

 

Trumps thoughts on brexit are deep and insightful.

 

quote:

Trump’s reply to Wolff’s question “And Brexit? Your position?” was “Huh?”

 

“Brexit,” Wolff continued.

 

“Hmm,” Trump said.

 

“The Brits leaving the EU,” Wolff prompted. “Oh yeah,” Trump then said. “I think they should leave.”

 

quote:

“I don’t think anybody should listen to me because I haven’t really focused on it very much,” Trump told Maria Bartiromo.

 

“My inclination would be to get out, because you know, just go it alone,” he continued. Trump has previously said British voters should choose to leave the EU.

 

Trump added that the results of the vote "doesn't have any effect on me."

 

"I also tell people: ‘Don’t go with the recommendation, because it’s a recommendation that I would make, but that’s where I stand,'" he said.

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I was actually expecting a bigger knee jerk market reaction than what we got...this didn't even create a buying opportunity.

 

I think this is typically being over hyped and overblown by the media, and despite US markets being down, they've gone up more than that in the past week, so it's like the needle barely moved. Dow is currently at 17,600 -- keep in mind that less than 6 months ago it was just over 15,000.

 

In other words...meh.

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