as of this moment it looks like it's happening.

Ah s***. That is really really f***ing bad if it happens. Really really bad for the health of the global economy.

If it happens sounds like Scotland may try and go for independence again.

Awesome

Good job tanking your own economy*

 

*and dragging lots of other people down with you

Edited June 24, 20169 yr by StrangeSox

God.

 

Damnit.

British Pound at 35 year low, dow Jones down almost three percent

 

Way to go morons

Yeah a lot of people may be selling stocks tomorrow, right now none of mine are down in after hours trading, but this doesnt look good for most people in the short term.

Good job tanking your own economy*

 

*and dragging lots of other people down with you

Yeah - Really awful for their economy. Their is nothing but short-term negative repercussions of what is happening (over the next 5 years). I realize they had immigration concerns, but don't destroy your entire economy due to that. This is really short sighted and horrible. Europe is now going to be focused solely on itself over the next few years as the countries now have to work together on new treaties (which will take a lot of time and take the eye off of doing what they are supposed to be doing) and businesses are going to be scrambling to move / set up operations / figuring out ways to operation. This has major major implications (unless the rest of the EU somehow caves...since you know...the Brits ultimately still want all the benefits of being in the EU, they just don't want to pay the member fees). By no means was there deal perfect, but the alternative is far worse and has major global repercussions.

 

Glad to see the resident Trump supporter doesn't understand that this is the 21st century and these type of events impact everyone (kind of like how negative interest rates elsewhere prevent our ability to move rates up quicker (which is what we should be doing and what our overall economy would support...thus giving relief and putting in extra bullets for future monetary policy).

The best part is that Cameron didn't have to even put this referendum forward, but now it might cost him his job and severely damage his country.

Well at least the UK won't be able to get smug about us politics after this!

 

Europe is a mess.

Clearly the world doesn't trust the establishment, unfortunately, they are making bad decisions in their rebellions. I hope we don't look back at this and than a Trump election as the drivers of the next world war or disaster. But one of the strongest economies of the world, just had its people make a decision that will have severe implications on its near term overall health...that is a bad thing when the world economy was already struggling. Just awful...honestly...awful.

 

I really hope I'm overreacting, but it just pains me when something so stupid happens, that should never ever happen. Any economist worth a grain of salt would tell you how awful this is....but lets ignore the facts and bury our heads in the sand (this is not biased economists...this is like every f***ing economist. I could understand the longer term implications (or if there economy was soft that they wanted to do something else), but the reality is, who the hell know what will happen longer term.

 

This reminds me of what happened after WWI when the world went into "isolationism" which created the rise of certain dictators and the next war. God I hope history doesn't repeat itself (by the way, I'm not referring to UK being a dictatorship, but I am slightly afraid at Trump acting like a dictator...although I am not at all comparing him to the infamous german).

Way to f*** s*** up Brits.

Business Insider already projecting the US stock market to get hit hard.

Hasn't been much of a reaction on the Shanghai stock market.

 

Most here would agree it's a bad thing for China's economy, though. RMB continues to hold the line around 6.60 but the great devaluation hasn't happened yet.

 

The irony is that the Chinese market went up 100+ points when rumors of it being added to the MSCI or MCSI or whatever it's called nclusion at a very small 1-2% weighting of the Global/Developing Index of stocks...when they decided to delay the decision because of obvious concerns about how the market is being run here and how off are the "real" numbers for SOE's or even more famous ones like Alibaba...the market just shrugged it off and had almost no negative reaction.

 

Hard to read with all the government buying and manipulation, though...it's definitely institutional/government buys moving the market for the last 6 months, not the mom and pop individual traders who got burned in July/August and then again earlier this year.

If it happens sounds like Scotland may try and go for independence again.

Less likely but always a chance of Irish reunification over this, too.

 

Eta remaining in the eu was a big part of enticing Scots to stay

Edited June 24, 20169 yr by StrangeSox

What a disaster

Japan's index down 7 percent. Us futures down 3.5 to 4.5 percent depending on Dow vs Nasdaq. Pound at 30 year lows. Love the German economic ministers tweet...damn damn a bad day for Europe. Or something to that elk.

Does Cameron resign or does parliament push back and say not a referendum? All indications were no, but always a possibility. f*** f*** f***ity f***.

Japan's index down 7 percent. Us futures down 3.5 to 4.5 percent depending on Dow vs Nasdaq. Pound at 30 year lows. Love the German economic ministers tweet...damn damn a bad day for Europe. Or something to that elk.

otoh what Britain and Germany did to Greece via the eu was horrible

 

Ukip leader arguing that the eu is a failed experiment and that Europe needs to go back to independent sovereign nations... That usually doesn't end well...

http://finance.yahoo.com/q;_ylt=AwrXnCBywW...ZWMDc2M-?s=^HSI

 

Hong Kong down 5% (Hang Seng)

When they break down the vote by age and urban/rural, it looks exactly like an American Democrat vs. Republican map.

http://www.nytimes.com/2016/06/25/world/eu...p-news&_r=0

 

Yeah, the global "undercurrents" politically with the Trump forces, Marie le Pen in France....following in lock-step, and quite predictable fashion, despite the overwhelming feeling of political chaos and uncertainty. Those forces, anti-foreigner/anti-Muslim/nationalist and nativist and isolationist, could be cribbed directly from The Donald's playbook this election season.

 

Would be shocking to see Cameron and Merkel survive it.

 

France has an election next year as well.

Edited June 24, 20169 yr by caulfield12

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.