Brexit.

[No wides]

Watch Panorama why we voted to leave, sounds like the twats in Maddogs work.

[No wides]

Carney driving the point home today. Meetings with the banks tomorrow. Djia Futures down on predicted BofE rate drop and new economic reality seeing in. Paralysis in multinational European investment strategies and Q3 and 4 business plans and results due to the uncertainties. Complete lottery at this point. No way of pricing then in.

You can say  all you want about the Democratic results of the referendum. However like any other decision making system, bullshit input means bullshit results. The talk of balanced coverage and claim and counter claim is beginning to look more and more like the two sided discussion of evolution and" intelligent design"

Literally nobody predicted this credibly. The defensive moves taken by find to liquidate UK equity and nice it to USD look like prophets, but in reality it was an Uber defensive move  to protect capital. Quids in!

Yeah all them experts were frauds!

[screenexile]

Carney driving the point home today. Meetings with the banks tomorrow. Djia Futures down on predicted BofE rate drop and new economic reality seeing in. Paralysis in multinational European investment strategies and Q3 and 4 business plans and results due to the uncertainties. Complete lottery at this point. No way of pricing then in.

You can say  all you want about the Democratic results of the referendum. However like any other decision making system, bullshit input means bullshit results. The talk of balanced coverage and claim and counter claim is beginning to look more and more like the two sided discussion of evolution and" intelligent design"

Literally nobody predicted this credibly. The defensive moves taken by find to liquidate UK equity and nice it to USD look like prophets, but in reality it was an Uber defensive move  to protect capital. Quids in!

Yeah all them experts were frauds!

I think he meant nobody predicted we would leave? The Economic collapse was well documented and sure isn't it great to be in the middle of it!

[heganboy]

Boston consulting predicting London loses 20% of their finance jobs

Brexit Could See One in Five Banking Jobs Leave London
Financial News | July 4
Frankfurt is well placed to benefit from the Brexit fallout, which could see a fifth of London's finance jobs shifted from the UK capital, according to a survey by the Boston Consulting Group. The consultant conducted its survey in June, ahead of the June 23 UK referendum on EU membership, and asked roughly 360 leading bankers from the UK, France, the US and Germany what alternatives there were to London as a base in the event of a vote to leave the EU. The survey suggested that 20% of banking jobs could relocate from London, with Frankfurt emerging as one of the most attractive locations for financial services companies considering moving their business after Brexit.

When I say no one predicted this credibly I mean from a Capital  Markets perspective - the exit was not credibly predicted

[maddog]

I firmly believe that if it was to be voted on in the morning it would be 60/40 remain. The amount of people i know that voted out and are now back peddling is just silly. And why ? Because they didn't think Out would actually happen, it was a protest vote and driven by the immigration issue largely.

So you've spoke to 40 odd million people on this?

If ran again, Remain would probably win. But people would change to Remain because they've been told by the media that it's wrong.

If immigration was their reason for Leave, that's their choice. It's their vote.

did i say i spoke to 40 odd million people? I can only get a feeling on who i do talk to, i.e work colleagues, lads down the pub etc. No one is denying anyone their vote or right to say what they want, however at least vote on facts rather than bullshit.

[Walter Cronc]

http://blog.executivesonline.co.uk/blog/the-impact-of-brexit-on-uk-businesses-so-far-survey-results

[seafoid]

https://www.theguardian.com/business/2016/jul/04/standard-life-shuts-property-fund-post-brexit-withdrawals


Not going so well

Aviva closes its fund
http://www.ftadviser.com/2016/07/05/investments/property/aviva-investors-suspends-bn-uk-property-trust-tuUypQxaHA805NZQhsGUvI/article.html

The €uro is now 85p.

The EZ is equally mismanaged. The notion that the EZ is a safe haven is laughable.
US, UK and EZ all have the same problem. People are pissed off with useless elites and a crap system that has difficulty generating growth other than via immigration. Over half of Swiss growth 99 to now was immigration related.
Currencies will be all over the place for the foreseeable.

[seafoid]

Boston consulting predicting London loses 20% of their finance jobs

Brexit Could See One in Five Banking Jobs Leave London
Financial News | July 4
Frankfurt is well placed to benefit from the Brexit fallout, which could see a fifth of London's finance jobs shifted from the UK capital, according to a survey by the Boston Consulting Group. The consultant conducted its survey in June, ahead of the June 23 UK referendum on EU membership, and asked roughly 360 leading bankers from the UK, France, the US and Germany what alternatives there were to London as a base in the event of a vote to leave the EU. The survey suggested that 20% of banking jobs could relocate from London, with Frankfurt emerging as one of the most attractive locations for financial services companies considering moving their business after Brexit.

When I say no one predicted this credibly I mean from a Capital  Markets perspective - the exit was not credibly predicted

Groupthink
Markets cannot price tail risk
http://www.tara.tcd.ie/bitstream/handle/2262/56169/WP389.pdf?sequence=1
look at stg/USD for the week up to Brexit.

[BennyCake]

I firmly believe that if it was to be voted on in the morning it would be 60/40 remain. The amount of people i know that voted out and are now back peddling is just silly. And why ? Because they didn't think Out would actually happen, it was a protest vote and driven by the immigration issue largely.

So you've spoke to 40 odd million people on this?

If ran again, Remain would probably win. But people would change to Remain because they've been told by the media that it's wrong.

If immigration was their reason for Leave, that's their choice. It's their vote.

did i say i spoke to 40 odd million people? I can only get a feeling on who i do talk to, i.e work colleagues, lads down the pub etc. No one is denying anyone their vote or right to say what they want, however at least vote on facts rather than bullshit.

Vote on facts? People voted out because they were sick of being lied to for decades. Politicans don't tell the truth or facts. If anything, Brexit is people making a stand against these same lying bastards.

[maddog]

I firmly believe that if it was to be voted on in the morning it would be 60/40 remain. The amount of people i know that voted out and are now back peddling is just silly. And why ? Because they didn't think Out would actually happen, it was a protest vote and driven by the immigration issue largely.

So you've spoke to 40 odd million people on this?

If ran again, Remain would probably win. But people would change to Remain because they've been told by the media that it's wrong.

If immigration was their reason for Leave, that's their choice. It's their vote.

did i say i spoke to 40 odd million people? I can only get a feeling on who i do talk to, i.e work colleagues, lads down the pub etc. No one is denying anyone their vote or right to say what they want, however at least vote on facts rather than bullshit.

Vote on facts? People voted out because they were sick of being lied to for decades. Politicans don't tell the truth or facts. If anything, Brexit is people making a stand against these same lying b**tards.

Right so they are giving 350m a week to the NHS now ? The out campaign was built on lies. The remain campaign was poorly managed.

[BennyCake]

I don't know about the 350 million. Don't really care either. But I'm sure Remain were 100% honest.

I believe there will be another vote and Remain will win. They will scare people into Remain. Therefore, democracy is bollix, and all these elections/referendums are based on fear. For that is how they'll always control people - fear.

[Canalman]

Unfortunately, the British media, the likes of the Sun, have been peddling this anti EU cack for years with nonsense about straight bananas and the like, the list of myths is endless. Apparently. the EU decided to abolish double decker buses over 20 years ago, not surprising Boris and Wright were opposed. Oddly enough there are still double decker buses.

The EU was overwhelmingly positive for the UK economy.
Murdoch and Dacre and co hate it.
Sun and DM  readers will now be shafted



Seafoid, huge swathes of the north and midlands of England  ( by far the soundest and nicest people in England imo for what it is worth ) obviously disagreed with you about the EU being overwhelmingly positive for the UK economy.

Not particularly happy myself with the outcome , but the whingeing and downright snobbery from the losing side is a bit hard to take.

[muppet]

http://www.rte.ie/news/business/2016/0705/800274-bank-of-england-brexit/

The Bank of England has taken steps to ensure British banks can keep lending and insurers do not dump corporate bonds in the "challenging" period that is likely to follow the country's shock vote to leave the European Union.

The central bank said it would lower the amount of capital banks are required to hold in reserve, freeing up an extra £150 billion pounds for lending in a reversal of a decision it took earlier this year, when it started tightening screws on lenders because Britain's economy appeared on course for more growth.

BoE Governor Mark Carney said the move represented a "major change" that would help the economy to weather the Brexit hit.

[armaghniac]

Seafoid, huge swathes of the north and midlands of England  ( by far the soundest and nicest people in England imo for what it is worth ) obviously disagreed with you about the EU being overwhelmingly positive for the UK economy.

Not particularly happy myself with the outcome , but the whingeing and downright snobbery from the losing side is a bit hard to take.

Anyone is entitled to their view, but they should also be able to explain the reasoning behind that view to other people who will be affected by their vote. We are not seeing such explanations nor are we seeing much in the way of a model for the future.

[seafoid]

Unfortunately, the British media, the likes of the Sun, have been peddling this anti EU cack for years with nonsense about straight bananas and the like, the list of myths is endless. Apparently. the EU decided to abolish double decker buses over 20 years ago, not surprising Boris and Wright were opposed. Oddly enough there are still double decker buses.

The EU was overwhelmingly positive for the UK economy.
Murdoch and Dacre and co hate it.
Sun and DM  readers will now be shafted



Seafoid, huge swathes of the north and midlands of England  ( by far the soundest and nicest people in England imo for what it is worth ) obviously disagreed with you about the EU being overwhelmingly positive for the UK economy.

Not particularly happy myself with the outcome , but the whingeing and downright snobbery from the losing side is a bit hard to take.

Canalman

Without Europe the UK would be in a much worse state. Areas like Cornwall got grants from the EU for development that London will never pay-
The issue in the UK is how the money in the economny is distributed and that is related to the Thatcherite economic system.
But you won't read about that in the Sun.