UK to leave EU

[Excited Penguin]

All I really know about Brexit I got from Last Week Tonight, and it kind of convinced me Britain shouldn't have made this choice.

https://www.youtube.com/watch?v=iAgKHSNqxa8

https://www.youtube.com/watch?v=nh0ac5HUpDU

[Pat Mustard]

I did not know everyone hates Bill Gates. Have I been living under a rock?

I think gates is a shitty person who is using the fact that his foundation is a way of avoinding paying taxes to burnish his reputation.

But then again nothing I've seen in the world has disuaded me from accepting the accuracy of my cynical bastard worldview.

[Losty]

Everything I know about him I learned in a highschool group I was in Future Business Leaders of America. It was all good stuff.

[Pat Mustard]

Time for Jeremy to hear the signals, I would say. But like any good politician, he seems to be glued to his chair.

http://www.nytimes.com/aponline/2016/06/...atest.html

Britain's Labour Party leader Jeremy Corbyn says he won't resign despite a vote of no confidence from his party's lawmakers.

Our news speak of 172 to 40 MPs having voted against him. Can't get anymore clearer, I daresay.

You've got to remember the core of Labour MPs have been divorced from their members sice Blair removed clause 4, killed the ability for policy to be decided by the membership, and turned candidate selection into a matter for HQ.

Getting rid of Corbyn right now, with the Tories in disarray and Labour membership riding high is a suicide note (but then again Labour's right hate labour rights or anything vaguely leftish more than they hate not being in power, hence the SDP of the 82 election).

[Pat Mustard]

Everything I know about him I learned in a highschool group I was in Guture Business Leaders of America. It was all good stuff.

He stole the code for what became windows off Apple (Jobs incidentally stole its predecessor off Xerox, so I'm not crying), when the US courts slapped anti-trust penalties on him, he bribed politicians to reverse those fines (he tried to do the same in the EU but failed), he doesn't pay his fair share of taxes, and he uses his "charitable" trust fund to invest in for profit charter schools which do nothing but defer much needed taxes from the public education system.

Even if his foundation isn't a large scam, he's a shit.

[account_inactive]

Asia seems to be doing better as well.

http://www.bbc.co.uk/news/business-36658989

[The Grand Nudger]

OFC, they didn't make a deleteriously ignorant political decision within this last week, and they..... like the rest of the world, profited from short selling your country.

[Aractus]

I don't care to get into a stupid semantics argument with you, but whether I'm losing money or losing value, the effect is the same. I get paid in GBP, and I live in America, so I have to convert it to USD every month. The same amount of money I earn in GBP now isn't worth as much in USD, so next month I'm getting less than I was this month. That lost value is gone, it's not coming back, because even if the pound recovers, the exchange already happened at the lower rate.

Look I fundamentally disagree. The GBP was already considered grossly overvalued, and had been for quite some time. I'm not talking semantics, it dropped to 1984 levels - so a person who moved from UK to USA in 1984 and was paid in GBP would actually say the opposite to you as time went on, they would say "hey this exchange rate is great, I'm netting more money than I would have under the exchange rate when I moved here". My point is whether you're paid in Currency or Gold Bullion its value can and will change, that shouldn't be unexpected or feared. The AUD reached parity with the USD in 2010, and maintained parity to 2013. It now trades at 0.74 USD. If you were an Australian paid in AUD, living in USA, and you were paid a decent salary of $65,000, your net income after tax would be about A$51,000 and from 2010-2013 that have equalled USD 51,000 - but today it would equal USD 37,740. A net loss of over USD 13,000 annually. And that has nothing to do with political of financial instability in our country, it's purely market-based economics.

I'll note that the AUD was considered by most economists to be overvalued when it reached parity - and even when it reached 90 US cents. It's currently undervalued really, but the fact is the market value for it at present is 74 US cents. I think Brexit forced a swift market correction for the GBP, I'm not an economist though, but as far as I can tell the Brexit vote didn't cause the GBP to fall much below its real value. Most economists I've heard on this issue said "correction" not" fall". The Euro is overvalued as well, again in the opinion of the financial experts, so if it were to take a hit for a market correction that's not an unexpected outcome either. So in a nutshell all I'm saying is that according to financial experts, with or without Brexit the GBP would have fallen to this level at some point anyway.

[Edwardo Piet]

All I really know about Brexit I got from Last Week Tonight, and it kind of convinced me Britain shouldn't have made this choice.

https://www.youtube.com/watch?v=iAgKHSNqxa8

https://www.youtube.com/watch?v=nh0ac5HUpDU

FUCKING EXCELLENT.

[Expired]

https://www.youtube.com/watch?v=pWcFDniFu74 Forget brexit, we are all fucked now.