UK to leave EU

[Pat Mustard]

So the DOW and the S&P 500 have set new record highs in the last two days.  It seems that we have moved on and left you Brits to your fate.

Oooohhh lines on a graph, compelling.

Look at these ones:
https://www.google.co.uk/webhp?sourceid=...ftse%20100
https://www.google.co.uk/webhp?sourceid=...ftse%20250

The FTSE 250 is the same as what it was 3 months ago. The FTSE 100 is doing better than what it was 3 months ago. You look at the DOW, and both FTSE's over a 5 year span and they're trending about the same. 

See what you wanna see Minnie.

The FTSE 250 is still five hundred points below what it was the day of the referendum three weeks ago. Just because it bounced somewhat it doesn't mean that all the pension money wiped by the crash is back, that money is gone. Oh, and the markets will yo-yo for a good long while, wait to see what the economic performance markers are like (the actual numbers won't be out for a few years yet).

[Expired]

Oooohhh lines on a graph, compelling.

Look at these ones:
https://www.google.co.uk/webhp?sourceid=...ftse%20100
https://www.google.co.uk/webhp?sourceid=...ftse%20250

The FTSE 250 is the same as what it was 3 months ago. The FTSE 100 is doing better than what it was 3 months ago. You look at the DOW, and both FTSE's over a 5 year span and they're trending about the same. 

See what you wanna see Minnie.

The FTSE 250 is still five hundred points below what it was the day of the referendum three weeks ago. Just because it bounced somewhat it doesn't mean that all the pension money wiped by the crash is back, that money is gone. Oh, and the markets will yo-yo for a good long while, wait to see what the economic performance markers are like (the actual numbers won't be out for a few years yet).

Tempted to get my graphs out here, but will resist the temptation.  But rest assured the UK has not and will not go down the shitter.

[Napoléon]

The FTSE 250 is still five hundred points below what it was the day of the referendum three weeks ago. Just because it bounced somewhat it doesn't mean that all the pension money wiped by the crash is back, that money is gone. Oh, and the markets will yo-yo for a good long while, wait to see what the economic performance markers are like (the actual numbers won't be out for a few years yet).

Bolded. Exactly my point.

[Expired]

The FTSE 250 is still five hundred points below what it was the day of the referendum three weeks ago. Just because it bounced somewhat it doesn't mean that all the pension money wiped by the crash is back, that money is gone. Oh, and the markets will yo-yo for a good long while, wait to see what the economic performance markers are like (the actual numbers won't be out for a few years yet).

Bolded. Exactly my point.

What happened in February 2016 with the 250 and 100?

[Napoléon]

What happened in February 2016 with the 250 and 100?

http://www.bbc.co.uk/news/business-36762631

The FTSE 100 has now risen by more than 20% since 11 February when fears about the Chinese economy spooked investors, putting the index back in bull market territory.

News story from yesterday.

[I_am_not_mafia]

So the DOW and the S&P 500 have set new record highs in the last two days.  It seems that we have moved on and left you Brits to your fate.

Oooohhh lines on a graph, compelling.

Look at these ones:
https://www.google.co.uk/webhp?sourceid=...ftse%20100
https://www.google.co.uk/webhp?sourceid=...ftse%20250

The FTSE 250 is the same as what it was 3 months ago. The FTSE 100 is doing better than what it was 3 months ago. You look at the DOW, and both FTSE's over a 5 year span and they're trending about the same. 

See what you wanna see Minnie.

That's because the FTSE is being valued in pounds which has remained tanked. The FTSE companies are doing better because the pound is weak and it means they become more competitive.

But this means that living costs are much higher for the rest of us because Britain is a net importer (as argued by Brexiters as to why the EU will want to trade with us).

So yes, well done, you've all voted to make yourself poorer so corporations can become more profitable.

[Napoléon]

That's because the FTSE is being valued in pounds which has remained tanked. The FTSE companies are doing better because the pound is weak and it means they become more competitive.

Yes, the competition is a bad thing /sarcasm.

But this means that living costs are much higher for the rest of us because Britain is a net importer (as argued by Brexiters as to why the EU will want to trade with us).

Yeah, and before being in the EU the UK was a net exporter. Wonder what happened?

The effect of Brexit on living costs is massively overstated by the leftist Guardian readers who predict nothing but doom and gloom and haven't noticed the current state of affairs. The standard of living hasn't really improved for 20 odd years and it's already impossible for young people like myself to get on the housing ladder. You wanna talk about living costs? Lol. Maybe if farmers didn't waste millions of tonnes of crops that didn't meet EU aesthetics standards we might have cheaper fruit and veg prices.

Absolute fantasy world you're living in. We're already doing shit no thanks to the EU. At least out of it our economy has the stimulus to grow. We might actually start exporting shit again.

So yes, well done, you've all voted to make yourself poorer so corporations can become more profitable.

I find it amazing that you would suggest this is not already the case by being in the EU. The entire thing is a giant fuck off gravy train for the elites. You'd have thought the liberal lefties would be strongly opposed but they're the biggest bedfellows the EU has. Bizarre. You want to talk about rich getting rich and poor getting poorer and yet can't see the wood through the trees.

[account_inactive]

Spot on, Napo. As always.

[downbeatplumb]

That, isn't the same, at all.  The Texas situation is more akin to Cornwall over here, them not being sovereign states, but still.

With all due respect, we'll just have to sit it out, it's interesting to see the frothy mouthed reactions from people who have no vested interest, especially considering their reactions seem so ill-informed.  

We'll see the outcome in a few years, as I said before, my guess is that Britain shall be in a much stronger position than we were.

Interestingly this flies in the face of the opinion of every single expert. But then as Gove said, "Britain has had enough of "experts"". Anti intellectualism is no longer a US only thing.

[I_am_not_mafia]

That's because the FTSE is being valued in pounds which has remained tanked. The FTSE companies are doing better because the pound is weak and it means they become more competitive.

Yes, the competition is a bad thing /sarcasm.

Do you own shares in the competitive corporations? Do they pay much tax in the UK? I doubt it. Is inequality on the rise? Yes.

But this means that living costs are much higher for the rest of us because Britain is a net importer (as argued by Brexiters as to why the EU will want to trade with us).

Yeah, and before being in the EU the UK was a net exporter. Wonder what happened?

Pointless comparison. The world has changed since then, not least because of globalisation which was the reason why the UK got into the EEC in the first place because it needed to in order to survive.

The standard of living hasn't really improved for 20 odd years and it's already impossible for young people like myself to get on the housing ladder. You wanna talk about living costs? Lol. Maybe if farmers didn't waste millions of tonnes of crops that didn't meet EU aesthetics standards we might have cheaper fruit and veg prices.

The standard of living hasn't improved in this country for you despite you being much younger than the EU. You weren't even alive before the UK joined the EU. But the EU is made up of many countries and each country is made up of many demographics.

There is no way of knowing whether the standard of living would have been better outside of the EU or not without running an alternate reality.  But economic theory going back to Adam Smith suggests that it would have been worse.

It's impossible for me to buy a house in the UK and I'm 41. But I can buy a house in Germany which is another EU country. The reason neither of us can buy a house is because of Gordon Brown creating the biggest bubble in the UK's history. I've been tracking this bubble since 2001 and saw how New Labour bankrupted the country to maintain it. The price of everything else has come down though due to globalisation.

Absolute fantasy world you're living in.

I'm not the one lacking an understanding of basic macro economics in an oil based economy and in complete and utter denial.

So yes, well done, you've all voted to make yourself poorer so corporations can become more profitable.

I find it amazing that you would suggest this is not already the case by being in the EU. The entire thing is a giant fuck off gravy train for the elites. You'd have thought the liberal lefties would be strongly opposed but they're the biggest bedfellows the EU has. Bizarre. You want to talk about rich getting rich and poor getting poorer and yet can't see the wood through the trees.

Yet not in any way comparable to the class system and establishment that has existed unbroken in the UK since feudal times. But go back to waving flags at the Queen and stay in denial about the House of Lords and how there will always be a glass ceiling for peons like you.